The Trillionaire Mindset - 69: How JP Morgan Got SCAMMED

Starting point is 00:00:00 You know what I like to do now? I like to just get it out of the way. I like to get the disclaimer out of the way because I am a I am a licensed professional. I'm the best fucking trader. There is so you better watch your fucking ass and Read that disclaimer because I ain't responsible for you. I'm not responsible for you. This is me. I Am responsible for you. You are daddy. I am your you are my ward No, I don't want to be your ward. Yeah, why not you don't think I could take care of you Definitely not really I could take care of you if you see my house plans They're doing great I think that's what that's what happened the house plans him to be running the show over there no

Starting point is 00:00:41 They're not if you're my ward. I'd be running the show Okay, would you wipe me? No, no, if you were my, if I was your ward, I'd be running the show. Did you ever have to yell out to your mom to come wipe your butt? Me? Never. When you were a kid. I don't even wipe. That ain't true, dude. Yeah, I don't wipe. I don't have to. We are the number one finance podcast on the internet. We we are if you this is your first time welcome if this is your whatever time Fuck you. No, yeah, this is your however many times. Yeah We don't we don't actually know what episode number this is so that it's probably not substantial, but Go ahead and like this video if If you're watching it, subscribe.

Starting point is 00:01:25 If you haven't already to our YouTube channel, youtube.com is not sure. Oh yeah, if you are new, you might help us get to some sexy milestones by hitting subscribe. So what are we shooting for there, Emil? Well, we're shooting for fucking millions, but first things first. Yeah, you got to, we got to hit 100K.

Starting point is 00:01:44 Yeah, you got to crawl before you can run the Boston marathon. Yeah, 100k first, millions. Next. Yeah. But yeah, we're going to be doing a nice sexy calendar. Ben is actually getting in shape for it, which is, yeah, I'm going from, he's getting a new body. I'm going from rhombus to, what's the sexiest shape?

Starting point is 00:02:06 Triangle? No. There's something hot about triangle at the point. Yeah. You know, hmm. You know what's got it going on octagons? No. No? Stop sign, man. Look at that thing. It's assertive. I'm not gonna talk about the sexiest shapes, but...

Starting point is 00:02:23 Well, come on. Panagon? No. Two militaristic. This is the bit that I was talking about before. Follow us on social medias too. If you want, that's how we tweets. If you want stuff like that. Yeah, if you want jam-packed sexiest shapes.

Starting point is 00:02:37 Sexiest shaped talk. Follow us on Twitter and all that other stuff. Twitter and Instagram and we're both on Mastodon now. I don't know what the fuck that is. You know what it is. Can we just get to the shit, man, because I'm really upset. My car got stolen yesterday.

Starting point is 00:02:58 And I stole a car yesterday. I'm gonna get the beat man! When I get done with you! I'm gonna get the beat man! I'm gonna get the beat man! I'm gonna get the beat man! I'm gonna get the beat man! I'm gonna get the beat man! I'm gonna get the beat man!

Starting point is 00:03:16 I'm gonna get the beat man! I'm gonna get the beat man! I'm gonna get the beat man! I'm gonna get the beat man! I'm gonna get the beat man! I'm gonna get the beat man! Be quick to all this, be quick to all this! Be quick to all this, be quick to all this! Be quick to all this, be quick to all this! Be quick to all this, be quick to all this! Be quick to all this, be quick to all this!

Starting point is 00:03:38 Be quick to all this, be quick to all this! Be quick to all this, be quick to all this! Be quick to all this, be quick a quick little joint and it was nice. Remember that one time last summer when my car broke down on the freeway? I do remember that. Yeah, and then it started up again and we drove off. But so why would I be teaching you a lesson? Well, okay, so, because before you get two mad at the robbers,

Starting point is 00:03:58 I know. So, okay, first of all, a couple things. Apparently, people are confused. They thought I had two volvos. Then had two volvos. I had old two volvos. I had old-ass volvos. Yes, I sold the 1989 that I had for like 13 years and then I bought a 1984 that was my dream car that I'd been looking for this particular type of Volvo for years. And then I finally found it. I bought it for a high amount of money on an auction website

Starting point is 00:04:24 and then I put a lot of money into it to like fix it up and get it in good shape. And then you guys know how when you have something you really like and you want to take care of it, right? You treat it well. Yeah, I treated it well. You protect it. Sure, yeah.

Starting point is 00:04:40 Did you do that? Yeah, of course. No. Well, so here's the, This is why I could never be your ward Here's the thing. Here's the thing. You'd leave my keys sticking right in my ass I live in an apartment complex that is It's got a gate in front and we lock the gate that you can walk into at night and then there's a

Starting point is 00:04:59 The gate that you can drive through that you have a clicker for, right? And these fences are like seven feet tall. So if you're gonna jump it, you're, you're, I don't know what the fuck. So anyway, I used to, my other Volvo that I used to have... I could jump that fence so easily. Yeah, sure you could. You're very athletic. No, any one could. No, no, no, I know. Other Volvo, I never locked because I couldn't unlock it because the key was so old and worn down.

Starting point is 00:05:23 And also it was such a piece of shit. I just thought, nobody's gonna steal this fucking car, because you would get into it immediately and know, okay, this isn't gonna, this is just a junker. And so, what would I do? I would leave the key in it all the time.

Starting point is 00:05:38 If they stole that card, they'd be doing you a favor. You go, good, not enough to junk it. Kind of. But I just kind of thought, fuck it, who cares? I would either leave the key in the ignition or I would just toss it on the fucking floor, whatever. So I put it in my pocket too.

Starting point is 00:05:53 But like one time, the car did get broken into and they rummaged through it and there was nothing to take. But then I thought, wow, they had no idea that the key was just in it the whole time. They could have just taken it on a joy ride. So that freshened my mind. I thought, ah, nobody's going to steal an old car. With the new one, I adopted that same mindset and just by habit, just kind of thought, hey,

Starting point is 00:06:17 I feel like I was a little cocky. A little cocky. I was a little cocky. I was a little cocky. I just thought, hey, you know, I'd take the key out and I just put it right there on the little tray. When we drive places, I would go, can I leave this in the car?

Starting point is 00:06:32 And you go, yeah, and then I'd see you just leave the key. No, no, I would take it. If you leave something in the car, I'm taking the key. No, I've seen you put, because I've go, no, I'm gonna take it with me. So anyway, the other night I went to the gym and then I went to the grocery store and went to pick up some dinner and I drove at home at like 10 p.m. and I parked my car and

Starting point is 00:06:52 I had a couple bags and I just I remember having the distinct thought as I took the key out of the ignition. Oh, pop it in your pocket, but then I was like, nah, because I get like squeezing in my pocket while I'm sitting down. I don't want to do that. And I got to grab these bags when I stand up. So I just don't want to do it. I hate when you get up. I'll just do what I always do.

Starting point is 00:07:11 And just plop the keys right there. And then the next morning, the real tragedy is that I ordered some Starbucks on the app. That's the real problem. Yeah, that was $2.75 and I'm like, ah, I'm gonna go get some Starbucks and then I went outside and I saw my car was gone and I just went, I just, I just got so mad, I yelled,

Starting point is 00:07:34 fuck. You yelled, fuck. And I scared an old lady and I said, sorry, they stole my car. She just, I don't know. But yeah, so that happened and I went to the police station and filled out a thing and the guys just filling out the, uh-huh, and then you get to the part where you say, and I left the key in the car. He didn't, he didn't judge me. You got to that. Yeah, yeah, we'll find it. Oh, yeah, we're on it.

Starting point is 00:08:05 He, uh, yeah. So I, I don't know if I'll ever see it again and thank God I have my scooter to get around it, but it fucking sucks. So don't leave your keys in your car and don't do what I did. Which is cry like a little baby at the police station You got one of those tinfoil blankets on It fucking stinks man, so I yeah, I feel like Batman now. I'm like I want to go shake down. I'm not wearing hockey pads

Starting point is 00:08:45 That's what I lead with hey you. I'm not wearing hockey pants. That's what I lead with. Hey you. I'm not wearing hockey pants. Okay. Where's my car? Well, I don't even know who I'm talking to in this scenario. No, remember when he says that? Yeah, I remember when he says that. I wasn't saying lead with that. Just a funny one.

Starting point is 00:08:57 But now I've got to buy a fucking car again. But this time, I'm not. At least prices are tanking. I sure. Yeah. Now I finally have to buy a fucking new Subaru or used one so I guess no get a Toyota Why you don't want a Subaru? You just don't want me also driving a Subaru. I want an Alpac. No put my longboard right in there get a Toyota

Starting point is 00:09:23 I don't know what the fuck is going on Jesus Christ You're gonna buy Japanese? You can't buy Japanese people a meal. Come on. This isn't the this isn't the 20s, okay? Come on Was it the behave no that was Chinese people right who built the railroads Ben? Who built the railroads Ben who built the railroads? Why don't shout who built the railroads? Ben. Who built the railroads? Ben. Who built the railroads? Why, don't shout who built the railroads at me. Okay.

Starting point is 00:09:50 All right. Well, so, hey, gang. I got bad news. Jerome Powell has COVID. COVID-19. And we wish him a fucking trillionaire mindset get better well King. Yeah, get better well Get better well. Is that what I said? You said better well and then I said poison my brain. I said Well, get better King

Starting point is 00:10:18 Well, I'm gonna say get better well because that's that's what you say when you really care I don't care. He's gonna be fine. I mean, he's an old man. So maybe it'll kill him. I don't know what that would do to the market That is a good question. I feel like it would the market wouldn't care. It would probably be Market don't care if Jerry Paul died. Yeah, marketing dream pal Market barely cared well. No yeah, market cares, but. Market care very much. Market do care. Market do be caring when you think about it.

Starting point is 00:10:51 Also, he's gonna be fine. They get all the nice anti-viral drugs. They get the anti-viral drugs, but nobody ever gives them the Uncle viral drugs, you know? You get what I'm saying? You see, what are you doing? Don't do that. Right. You know you get what I'm saying easy get what are you doing? We got a fun story for you

Starting point is 00:11:13 This one is fun. Can I tell you why? Yeah Tell me I'm just being I'm just being shitty. No, no, no, I'm just bitter about the whole car thing. We're gonna Don't carry you into this. No, I'm not but I just real fast No, so I do I look like I didn't get a good night's sleep? You look like shit. You always do. Thanks, cuz I, haha.

Starting point is 00:11:32 Um, man, it's just, things, things turn around soon enough. Go ahead, I just, I feel like I look like fucking shit cause I'm pissed off and I was just tense all day yesterday, it was like fuck. Yeah, you're really wearing it. Anyway. Yeah, why is this good? So we're going to talk about the you guys might have heard about the story about Frank. Charlie Javish, she was the founder of it and JP Morgan Chase is suing her. We're going to get into it, explain why it's happening. But I do like the story because it's fun. You can root for either outcome, right? You got Charlie Javish,

Starting point is 00:12:04 Wharton School of Business at UPenn Graduate. They all deserve to be in jail anyway. So I don't care, Senator Jail, whatever. JP Morgan Chase, I don't care if the whole thing burns down, right? So that's coming from the owner of a sapphire card. Yeah. So they get those points before they burn down. No, they'll still take those.

Starting point is 00:12:23 Yeah. So it's great. Either they get ripped. No, they'll still take those. Yeah. So, it's great. Either they get ripped off and don't get their money back. Yeah. She gets fucked. Those are a bunch of money. Look at her. She's, so for the audio listener, she's a very cute woman. Her name is Charlie.

Starting point is 00:12:37 Right? Javis? What is, what, what? I don't know what her appearance has to do with her. It doesn't. I'm just saying that I would ask her on a date So Charlie are you good I'll help give you some legal advice. Are you good? You give me some of the millions of dollars that they owe you let's explain what happened. Yeah, Charlie

Starting point is 00:12:56 Javis had the brilliant idea She was gonna help people fill out the confusing form FASA which stands for the free Application for federal student aid, right? The whole federal student loan process is very confusing. So Frank is the company. Frank is the company. She was gonna help people doing that.

Starting point is 00:13:18 And it's important to note, she's been under fire before. I believe in 2016, 2017, she settled she settled with the Department of Education because they were like, yo, you are confusing people. They think you are a part, you are affiliated with the federal government. They settled, she changed her name and everything, she changed some of the branding so it didn't look like she was part of the federal. Oh, the first iteration made it look like, hey, we're an official.

Starting point is 00:13:45 Yeah, and I believe it was called frankfafcid.com. Ooh. So she's got this brilliant idea. She's gonna help people. Most of it was going through the process of doing the application, and then they offered extra services.

Starting point is 00:13:59 You know, I think starting at 500 bucks, they could help you negotiate for more money. That kind of stuff. Seems like a good deal. I don't know if it is a good deal 500 dollars is a lot of money Again, you're buying your student loan help right yeah 500 dollars is a lot of money if you're a struggling family Also you have to remember it is confusing, but it's a free application to fill out right as Frank is growing She wants to get acquired she starts talking to JP Morgan chase She talks to JP Morgan himself. She does a say on his ghost

Starting point is 00:14:33 Impressive numbers young lady and you should smile more And in her in all of the presentations everything she's talking about she keeps talking about her huge customer base four million to be four point two six five Million point two six five million to be exact customers, yeah, or College students which is that doesn't seem like a fuck ton How many yeah, you Google how many? Coeds there are yeah, how many college students are in America? I'm let's guess let's guess I would get 20 million I'm gonna guess let's see there's 350 million I'm not looking up there yet. There's 350 million

Starting point is 00:15:16 Americans in the United States. I'm gonna say you said 20 you said 20. Yeah, okay, so highest without going on I'm gonna say 19 million. Oh you piece that's bullshit No, that's smart is what it is. Oh One the contest showdown 18.9 is of 2020 Wow, so she's got she's claiming to have a pretty sizable percentage Yeah of the college student 20% on her Frank Is that 20% on her, Frank. Is that 20% yet?

Starting point is 00:15:46 Right, so that's a lot. And at that point, JP Morgan's going, God damn, that's a lot of data that we can buy. Yeah, 4.2 million. Not dig it, we could sell some Chase Sapphire preferred cards to these dipshits, I mean college students. Well, and that's what's important to remember too, right? Because it wasn't, JP Morgan wasn't like, wow, what a good fucking business you came

Starting point is 00:16:09 up with here, helping people with free applications online. Yeah. What they wanted was these four million accounts to do what? Like two, six million. Do what you just said. Sell them shit. I mean, the reason I know this is because it's in the complaint, we were reading through the complaint and it says, JP Morgan Chase decided to enter into the merger grant

Starting point is 00:16:29 because it believed that over the 10 year period following the closing, JPMC would be able to generate hundreds of millions of dollars in revenue by selling checking accounts, saving his accounts and credit cards to Frank's existing and future customer base. A core component of that analysis, however, was the purported fact that Frank had 4.265 million existing customers at the time of acquisition. And the funny thing is, is how they found out when they were doing the transition, they asked for all this data. And Charlie first said, no, I can't give you that because of privacy. Yes.

Starting point is 00:17:03 Privacy loss. And they said, we're going to have to see they said, we're gonna have to see that. We're gonna have to see that. So they did a test run and they, oops, Emil broke his microphone, he's too excited. He's all hand-boned over there. What is hand-boned? I don't know.

Starting point is 00:17:16 I just used it. Is it hand-fisted? Just say what you're gonna do. Just anyway. So they did this test run and sent out some, like test email blasts, marketing blasts to a small number of the purported college students that were real, these real college students.

Starting point is 00:17:33 And like just I think a percentage of a percentage came back like the 1% of the emails or something actually went through. But you're jumping ahead a little bit here. What? Because when they realized that JP Morgan was serious about having all of the data. Oh, yeah, they had to fudge it. So they hired.

Starting point is 00:17:54 Well, first you went to a head engineer and she said, hey, can you create 4 million accounts? And he was like, that sounds pretty illegal. And she's like, no, I would never ask you to do that. And he was like, no, I'm not doing that. And so she found some data science professor in the New York City area. And paid him $15,000. He paid him a bunch of money to create four million accounts.

Starting point is 00:18:18 I wonder if she lied to him about what he was. No, there's emails. If you go through the complaint, there's emails. They're very upfront. And she said, hey, I need to scam JP Morgan Chase. Truly, she's outright saying like, she's calling it, we're trying to do synthetic data creation. Charlie, I love you.

Starting point is 00:18:34 Oh man, lie to me. I tried to add her on Instagram. Oh, is she private? She went private. Oh man, I should try to add her too. The ember would say, just say whatever you want. I'm on it to be like, come on the show. Oh yeah, oh should try to add her to the ever and say, just say whatever you want. Come on in to me, like come on the show. Oh yeah, oh that'd be cool.

Starting point is 00:18:48 Yeah, criminate yourself. Right, so then once she handed him over. So she got the data, she paid this data scientist, she got the data, handed it over, and then they did a test run. And it came back, the results were, it was like a joke, it was laughingly back. Great, let's send out these promo emails.

Starting point is 00:19:07 Let's get some credit cards to these dumb kids. Yeah, and I think the tar, whatever the fucking marketing term is the open rate. Sure, was like 1%. Well, there's a huge bounce back rate because they were obviously, the ton of them were fake. And then the open rate was abysmal. Still scares me that they can see that kind of shit.

Starting point is 00:19:28 Like somebody sends you an email and they can tell, did you open it? That is weird. Like, that shouldn't be able to do that, man. But you can only do that when you're using a software for marketing purposes. No, no, stop. Software.

Starting point is 00:19:40 Fuck software. It's like I'm always saying, man. Fuck software. Are you always saying? I am always talking about how much I hate software. It's like I'm always saying man. Fuck software. Are you always saying I am always talking about how much I hate software It's just fun. It has ruined so many lives Anyway, let's continue so JP Morgan figures out that she fucked them But at this point she's balls deep in their employment agreement them. But at this point, she's ball's deep in their employment agreement, which had contingency. She's got a remaining good standing. Her and her like technical co-founder both

Starting point is 00:20:12 have to remain in like good standing or what the fuck ever. They have to be on good behavior in order to get their fat bonus. Right. That guy's listening to the lawsuit as well. He was trying to get another data set from another company for the four million people. So they're both on the hot. Yeah. But right, she was set to get a fat payout. Yeah. Of what? 20 million? Yeah. Like 20 million bucks. Awesome. Pretty sick. Yeah. Create a little website to help kids. Yeah. But like, what did she think would happen? Did she just think that JP Morgan would like assume that, well, yeah, just normal for people not to to sign up for these things? I guess, you know, we got our money's worth what the fuck did she just think it would be a write-off for them?

Starting point is 00:20:50 I don't know. I imagine she was in too deep at that point right yeah, they're offering a hundred seventy five million dollars You're seeing your twenty million dollar payout. Yeah, and at that point you're just I don't know fighting for your life You're like I gotta get I mean, we're living through this weird golden age of fraud. Yeah, it's awesome. I mean, sometimes, I'm like, what's going on? Yeah. With millennials.

Starting point is 00:21:15 I'm a millennial, every day, oh my god, I don't commit fraud. Yeah. I've committed fraud. A form of fraud. Yeah, you remember the American Airlines thing? Yeah, that was some form of fraud. Maybe it's run.

Starting point is 00:21:26 No, I don't know. I think there is some weird, deep-seated thing, right? All of us, we were in college during the great recession. We saw everything crash around us. Yeah. We saw everyone get laid off. It didn't seem that safe to work for, you know, these companies that were considered safe, you know, your job could just be taken away from you.

Starting point is 00:21:46 And then there was this great entrepreneurial spirit. But it's odd. I think everyone feels this pressure. You have to get this high valuation. You have to get, you know, you have to break numbers, break records, and innovate, and do all these things to appear sexy to investors and everything. Yeah. I think it drives people crazy. Because I mean, there's a world where, you know, she can run a small business, make 200K a year,

Starting point is 00:22:12 helping college students, or print. Or with the real numbers, because the real number was closer to like 300,000. So, okay, yeah, you take 20 million instead of 120, or what the fuck ever. No, no, no, because that deal's never on the table. Why not? Just, did you, remember the quote I read from the complaint? Well, yeah, but, oh, sorry, go ahead. JP Morgan wants those, they wanna make a ton of money.

Starting point is 00:22:37 Right, selling people. 300,000 is still substantial, because you could still continue to grow it from there. Yeah. Obviously you're doing something right, if you got 300,000 people, but I'm pretty sure she reached out to them at first and they weren't that excited. And then she started tossing around these numbers. Well, so the fun part lies in how she said, no, actually, I'm suing you

Starting point is 00:22:56 because part of the agreement was that I get a big fat bonus for being in good standing and they fired me. You guys fired me without proper just cause. And I, it's really funny that she's doing that because it's like, actually, yeah, the cause was that you fucking lied to them. I know at first I was like, wait,

Starting point is 00:23:17 maybe we don't have the whole story here, but then you go through the complaint and you see the emails and stuff and you're like, oh, yeah, I would try to settle this quickly. Yeah, Charlie, Charlie, like literally talking, literally talking about data sets and the guys going, oh yeah, but now it looks like every kid went to the same high school.

Starting point is 00:23:37 How are we gonna fix that? I mean, as long as it passes, you know, a quick vision test. My first question was gonna be, how much money do her money does her folks have? I don't think she is, I don't think she's, yeah, but she's a white girl named Charlie. Don't, you can't be prejudiced.

Starting point is 00:23:54 That's, I mean, they rich people name. I think that's going away though. Poor people realize they could name their kids, rich people stuff, and so you see like, you see like poor McKenzie's and stuff and it's it's jarring. Oh, but there've been poor McKenzie's since I was in elementary school. Yeah, but traditionally McKenzie's been a wealthy woman's name. I thought so.

Starting point is 00:24:16 I did not know that did not think that Madison. Very wealthy. Yeah, but now yeah, I'm seeing a lot of poor Madison's. Yeah. But now yeah, I'm seeing a lot of poor matters. Yeah. Yeah. Oh, Bob, well, so I don't know who to root who are you rooting for? Oh, this is a great. I'm rooting for Charlie. She's going to lose. But I'm rooting for her nonetheless. I can't. You can't root for the big bank, man. No, but there's a way where they both lose, right? Maybe they settle. Charlie never gets to rip people off again. And JP Morgan doesn't recoup their losses.

Starting point is 00:24:55 Yeah. Well, because wasn't that part of the original complaint from the FTC? It was the FTC who said, hey, you're actually just using all this data to sell and not really help these struggling students. Yeah, it's kind of a, which shitty person do you want, well, person entity do you want to, I want Charlie to win, but I also don't, I also don't, I don't know how to say that. They both, they're both losers. But Charlie, come on the show. If you're out there, um, so the FTC, the Department of Education, and then in 2020,

Starting point is 00:25:36 in 2020, bipartisan members of Congress wrote a letter to the FTC saying that Frank was creating confusion for students by advertising a non-existent universal application for COVID-19 pandemic error student relief funds. Oh, that's it. It also bugs the shadow me because I was just curious. So I was looking looking her up and it's a what you'll see on Twitter is everyone's talking about the 30 under 30 thing. Oh, yeah. She is one of those. And everyone is. Sam Banking, scam, Bank been fraud. Yeah. Elizabeth Holmes. Oh yeah. All of them end up on there and they end up scammers.

Starting point is 00:26:09 But, and you have to hear these fucking stories, right? You know, how they're trying to change the world. I know how hard it can be for college students, but not a lot of money. That's why we have the disclaimer, man. Fucking break. That's why we have the disclaimer. Yeah, we're up for it.

Starting point is 00:26:24 We're protecting you off. Yeah, we're up for that. We're protecting you off. Yeah, we're protected. Be sure to sign up for our code at whatever the fuck. But that's the thing, so I don't know if, because part of her story was saying, I had a lot of trouble with financial aid. So I know how hard it can be. And that's why I wanted to start a company

Starting point is 00:26:42 where I ripped off JP Morgan. Oh, that's why you think she didn't come from money because she said I struggled with it. It's probably bullshit, man. Hey, her struggle with financial aid was grandma's Parkinson's hand couldn't quite make out the check, the full amount that she needed. I don't, without knowing I'm'm not gonna accuse her of that. I'm gonna go with what she said, even though she does seem to be a liar.

Starting point is 00:27:10 Yeah, she seems like, JP Morgan even calls her a liar. They say like she lied, and then when she had the opportunity to be truthful, she just lied on top of the lie and then compounded those lies. It was great, but we wish Charlie Godspeed. But that's the thing too.

Starting point is 00:27:27 If you're so fucking, if you wanted to do good in the world, this is not the way to do it. You can start a small company consulting people, helping them navigate these difficult. Also, that's what sucks so bad is that it's the federal government making this difficult for people giving hucksters an opportunity to come in and have some private solution

Starting point is 00:27:51 to these things that they should be offering. Yeah. Health insurance comes to money. Yeah, it all sucks. Oh, man. So, in other fraud news, this isn't really fraud, I guess, but there's a big lawsuit from artists, from various artists. They're suing the makers of the AI. What is it? I believe it's stable diffusion. Yes, stable diffusion.

Starting point is 00:28:17 Which is an artificial intelligence software product released in August 22 by a company called Stability AI. And the way that Stable Defusion works is it basically, it calls the entire internet for all the just images out there that are... And then it learns. And then it learns. So if there's a billion photos or drawings, let's say, of a dog, it takes little bits and pieces of those things and creates

Starting point is 00:28:47 its own dog, but it's based on that neural net that it has created of all those images. And stable diffusion is the process by which it does that, where it takes a picture of a dog and then gradually breaks it down into pixels until there's nothing but just an amalgamation of pixels, but then it reverses that process and ends up with a similar looking dog, but it is not actually the original dog. And all these artists are basically saying, hey, you are learning from our art, at least in a small, small, small, small, small way. And no one's getting credited, no one's getting compensated.

Starting point is 00:29:26 Right. Which is, and I'm on their side and I'm for them, but it's like the same thing can be said just for any artist, right? If I'm trying to learn how to draw a dog and I Google dog and I'm looking at all these different images and I'm like, all right, I got a good idea of how to do this. Right? You're the lawyer. Well, so that's the, this is, it's not just, it's not just these artists.

Starting point is 00:29:53 There's also getty, getty images is also getting in the game. They're suing the same company, Stability AI, all right? And this is, this is a long time coming, right? People don't know exactly what to do with this. This is from the verge. The lawsuit marks an escalation in the developing legal battle between AI firms and content creators for credit, profit, and the future direction of the creative industries. AI art tools like stable diffusion rely on human-created images for training data, which companies

Starting point is 00:30:20 scrape from the web, often without their creator's knowledge or consent. And so now It's probably gonna be left up to the courts. I mean we don't we don't know exactly what they'll end up doing Also, I think that one's filed in the UK so oh great the British courts are gonna handle it with the wigs and shit In the shouting Tea break Oh, right, we're going, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, You know, artists are very annoyed. There's a lot of art contests where people are submitting AI-generated art and it's winning. There's one who won. Yeah, but it was like one regional little. No, no, there's multiple, I think. Really? Yeah, it's fucked up.

Starting point is 00:31:14 Nick Cave got pissed about the... Someone asked him about... I guess someone put in Nick Cave lyrics. Nick Cave is a musician. Go on. Context. Some people don't know. lyrics. lyrics would have given them the... You're new, yeah, but like who is Nick Cave? Kav is a musician. Go on. Context. Some people don't know. Lyrix, Lyrix would have given him the concept.

Starting point is 00:31:27 You're near, but like who is in a cave? Lyrix. Lyrix. Uh. He said, he said the song sucks. Yeah, and it's like a crime against humanity. Schools all over the place. Uh huh.

Starting point is 00:31:41 They don't know how to, they don't know how to have any defense against kids just handing in. AI handing in AI generated essays and homework Remember turn it in did you have to do turn it in no I think toward the end of my college tenure I had to use that you know what it is though. Yeah, you put it in and it tells you what percentage of it is played But that won't that won't catch your AI generated. Man, that's hot. That's sexy. I have been playing with it. Yeah. You shouldn't play with it, dude.

Starting point is 00:32:09 You know why? Why? Because I don't know. I got ner- With chat GPT, you were playing with it? Yeah. You know how with your parents or in your case parent? Uh-huh.

Starting point is 00:32:20 Uh-huh. Uh-huh. Go on. There's always the quick- like, what's wrong with my phone? It fucking, you know. Yeah. It's always doing this. Yeah. And you can go, like, what's wrong with my phone? It fucking, you know, it's always doing this. Yeah. And you can go, oh, it's just some easy fix. I'm like, I'm gonna, we're gonna become that someday, right?

Starting point is 00:32:33 Fine, who cares? Give it to me. You don't have a kid. Not yet. Who's gonna teach you how to do it? I don't know. You're not gonna be able to talk to the robots. What are my nieces?

Starting point is 00:32:43 And then yesterday I saw the Boston Dynamics. Did you see the Boston Dynamics robot? What are they doing now? Nothing, I mean it honestly looked, this was the first one that looked nice. Cause usually they're like, look at this kill machine, running our ops to go core. Yeah, yeah.

Starting point is 00:32:56 Like Jesus. He's trying to stop it. He's backflip it. Yeah, yeah. What do they have this one doing? It was so nice. They have scaffolding set up. Oh yeah, here we go. Here's the video.

Starting point is 00:33:05 For the audio listener, this is a human man building scaffolding. And the robot is just, he's just this little helper. Hey, he's just helping. How do I get up there? Well, there's a hand, oh, I'm looking around. Doot, doot, doot. And oh, you need this uh, uh, two by ten. Well, here you go, sir. I'm gonna just hop.

Starting point is 00:33:26 Whoa, don't do not. That seems dangerous. Okay, look at him. He's such a nice little guy. Yeah, I'm thinking I'm not gonna have anybody teach me on it. I got to talk to the robots. Wow, it problem solved. It knew that it had to get up there. So it made a little bridge for itself. And this guy is just, whoa, he tossed the sandbag up to the construction guy on the scaffolding. Oh, but he's now he's tearing the whole thing apart.

Starting point is 00:33:51 Yeah, that one scared me at first. I was like, oh, he's pissed, but I'm like, no, he's just going to get down. Why do they know? I don't like the flip. Yeah, I don't like they always, they always make him do flips and shit. I don't like when they show off. Yeah, it makes me think he's showing me. Yeah, don't piss me off. Look what I can do. But that one made me weirdly hopeful.

Starting point is 00:34:09 Yeah. I'm gonna be old one day. I want a little robot help me out. Yeah, have you seen Frank and Robot? Yeah, it's such a great movie. Frank and Robot is a movie. But the context, my favorite quote from this thing. The movie was there. This thing about the AI from this article, quote,

Starting point is 00:34:26 nevertheless, because all the visual information in the system is derived from the copyrighted training images, the images produced, regardless of outward appearance, are necessarily works derived from those training images. So that's the crux of their thing, is that, hey, your AI pools together all these images, including in especially hours and whatever gets created thereafter is... Your entire system is made off the back of the work we've already done.

Starting point is 00:34:56 And we're not going to see any money for it. You're probably going to ruin people's lives and cost them jobs. This is how terminator started. Yeah, I mean, become self-aware on August 29th, 1997 at 2.03 AM. Sam, I just watched Terminator 2 the other day. So yeah, Sam Altman, what? No, he said it is going to get rid of jobs, but it's going to create more jobs. But I'm like, what fucking jobs? Guy talking robot?

Starting point is 00:35:22 Sign me up. I'm ready. It's all the fucking Boston dinners. I want to be the guy hanging out with the robot. Alright, moving on. Jesus Christ. You know, hey folks, have you noticed that eggs are expensive? Who gives a shit?

Starting point is 00:35:40 Stop eating eggs for a minute. I eat a lot of eggs. I got high cholesterol, so I can't fuck with them anymore. I don't know if like, this story's very, I think it's gonna be very temporary, and I don't know if it's here. Well, because no, but this is endemic to a bigger problem. So America's largest egg producer,

Starting point is 00:35:58 if you don't know it, you should be familiar. Cal main, what a name. They should be familiar with Cal main. You have some, have more fun with your name Eggway or egg town Eggco, I don't know excellent excellent. Thank you something. Was that a good example? Excellent work excellent work you already said excellent, but fuck You know all those things etc. Exception.

Starting point is 00:36:25 Fuck! Uh, excuse me for a minute while I continue this. Shut the egg up. So don't make me, you're gonna make me crack. Don't yoke my white. Oh. Anyway, they reported a record quarterly profit of $198 million.

Starting point is 00:36:47 God bless you. That's so much. So eggs have been under particular inflationary pressure around the world due to bouts of avian flu, bird flu, climbing a whopping 59.9% euro over year to December marking the biggest US price increases of any supermarket product. Supermarded?

Starting point is 00:37:05 Sorry. Perth Euro, labor statistics data. But so Bernie Sanders, our friend Bernie Sanders, pointed out that despite the outbreak numbers of avian flu, so you got all this avian flu. Oh, avian flu is causing the egg prices increases. CalMaine didn't have any fucking cases of EV influence. Let's read this tweet.

Starting point is 00:37:27 I'm gonna read this tweet from Bernie Sanders as Bernie Sanders. I don't know, folks. I don't know if you're... Let me channel them. Careful. Copic greed is the producer of Eggland's best farmhouse eggs and lando legs eggs increasing its profits by 65% last quarter to a record breaking $198 million while doubling the price of eggs and reporting no positive cases of avian flu. Yes we need a windfall profits tax. Hillary Clinton is as always a rotten bitch a bitch.

Starting point is 00:38:13 I just love saying bitch as Bernie Sanders. Hillary Clinton and just saying Hillary Clinton because you go Clinton is a bitch. It's it's it's shocking seeing a Bernie impression without hearing millionaires and billionaires. The millionaires and billionaires. These millionaire and billionaire egg producing companies are greedy bitches. So anyway, it's fucked up because, which leads us to our next thing,

Starting point is 00:38:41 as there was this article that came out, well wait, before I get to that, major brands have basically, all these brands have been passing inflation onto consumers, because they know, they know that we're little pay pigs and we're gonna pay, right? PepsiCo, there's another boring company named,

Starting point is 00:38:58 which rebranded it, man. Yeah, we've been talking about, PepsiCo, a while, right, when we're talking about these insane gas prices. Yes. Yeah, in their companies having absolute record years dummy dummy and they're like we don't want a fucking raise price We love you guys stop paying this much you got we keep raising the prices and you keep paying it so like crazy Stop we didn't know you'd get to work. Yeah, stop guys. We're raising the prices more and you're still paying

Starting point is 00:39:22 Okay But it's gonna keep going up. Okay, I guess thanks for the record profits. I guess. Did you also see the stuff about Fuck where was it what you blew it, dude. No, I didn't all right. Did I see the stuff about what come on, baby? The guy did a study about all the exon research and basically prove that they knew about Did a study about all the Exxon research and basically proved that they knew about... Climate change. Yeah, but just how accurately they knew about it? Oh, sure, he's got it.

Starting point is 00:39:50 Oh, okay, he's not. Yeah, no, no, I've heard this. He's not, of course they knew. To the tee of like they got exactly how much we were gonna go up, you know, Celsius degrees. They knew it perfectly. So they thought, well, we better get as much profit out of it. We better hurry up and milk this thing for all it's got or somebody else will or

Starting point is 00:40:12 fucking shell will. But Pepsi reported a 16% increase, 16% increase in revenues year over year for quarter three and CEO Ramon LaGuarda told investors, the truth is that our brands are being stretched to higher price points and consumers are following us. And as a friend of the show, Kyla Scanlan points out, there's this quote in this Wall Street Journal article that stood out particularly about how companies are passing on prices. Some companies raised prices not only because their costs were higher, but because they anticipated rising costs, according to a recent study. Those price increases in turn drove inflation higher.

Starting point is 00:40:54 The study by economists at the Federal Reserve Bank of Kansas City found that higher markups, the gap between what affirmed charges and what it cost to produce an item, were a major driver of inflation in 2021. So these people are raising prices in anticipation of future cost pressures that didn't happen and then people just... Yeah, but it's okay. They were scared they were going to make less money.

Starting point is 00:41:20 I wouldn't want that to happen to them. I know. I wouldn't want that to happen either. So I'm glad they took the necessary measures to make sure that they not only didn't, that to happen to. I know, I wouldn't want that to happen either. So I'm glad they took the necessary measures to make sure that they not only didn't, but had record years. Real fast, before we go into headlines or whatever the fuck that thing is called,

Starting point is 00:41:33 because we still don't know. No, we do now. Someone said ticker tape, and I thought that that was kind of fun, because that's, you know, didn't we already call it something? I don't know. Nobody can be sure, but this quote from the Bank of America, the BoFA CEO this morning

Starting point is 00:41:49 said something. This morning for us, yesterday morning for you guys. I love that these headlines are always in all caps because I read it like this. Bank of America CEO, boy to head. The consumer is extremely resilient. Do you feel resilient? You're a consumer. I feel bad all the time and I don't think it has anything to do with the economy.

Starting point is 00:42:14 Okay. But do you feel extremely resilient? No, I will say this. It does seem like, J-Powell is trying to break the back of consumers and workers and it is not working in him and all his fucking fat kept buddies on Wall Street are getting pissed.

Starting point is 00:42:33 Well, so I thought a fun little thing to do would be to take a quick survey, so I thought I would call some consumers that I know. Is that cool? Yeah, so I'm gonna call my mom, she's such a consumer. Did you tell her you were gonna call her? Yeah, I told her she got pissed that one time She did she did get that sucks. You get really I felt like I was at my friend's house. You guys got like yeah, hey, man

Starting point is 00:42:56 So I got a quick question for you. You're a consumer, right? What's that? You're a consumer, right? Yes, okay, I do I'm I'm just taking a survey of consumers and I'm I'm one enough you What was that? You're a consumer, right? Yes. Okay, I do. I'm just taking a survey of consumers and I want to know if you feel like you are lately extremely resilient. Extremely resilient as far as being a consumer.

Starting point is 00:43:17 Yeah. Just in general. Uh, either or. I think I'm very resilient. That's good. Okay. That's shit you put me through resilient. That's good. Okay. You put me through Very good, mom I gotta tell you you shouldn't you shouldn't tell me in advance that you're gonna call me and talk to me on the podcast

Starting point is 00:43:36 Because I've just been freaking out the whole time. It would have been better just to call me But I did that before and you got upset No, you didn't yeah didn't I did that once before and you were upset. No, you didn't. Yeah, didn't I do that once before and you were pretty, it meals right here, yeah. Yeah, we, we do have tape unfortunately it did happen. You're on the thing. Oh, well, you know, you didn't tell me that then,

Starting point is 00:43:58 but what the hell? Do you want to give a shout out to anybody? Hi. Okay, well that's all that's all for now, mom and you know my car got stolen so if you want to come up Maybe on on Saturday or Sunday with Meg that'd be great. Well, when you're gonna tell me the story what happened? Oh, I'll tell you I'll tell you later. I'll call you later. Okay. Okay, love you. You just wanted to know if I was a resilient consumer? Yeah, that's it.

Starting point is 00:44:32 You're so foolish, shit. Love you, man. Love you too much. All right, I was gonna call, should I call one of my brothers real fast? I feel like nothing's gonna top that. That's pretty good. Really?

Starting point is 00:44:43 Well, I feel extremely resilient. I feel moder nothing's gonna top that. That's pretty good. Really? Well, I feel extremely resilient. I feel moderately resilient. How out of touch do you have to be to refer to people that way? The consumer is extremely resilient. Oh, you think the Bank of America CEO is out of touch? But that's the thing. They talk about this.

Starting point is 00:45:01 They're quite open about it. We need people to lose their jobs, right? And inflation's coming down and they're like Shit to imagining him at the end of a long table, but people aren't losing their fucking job consumers extremely resilient Johnson What are we going to do about these fuckers will take anything? Yeah, we've raised rates at historic rates And they just won't get put out of work if anything anything, ROOMS! If anything, RIDGE people are losing their jobs. Yeah. Christ on the cross.

Starting point is 00:45:27 Alright, let's change into segment mode. BEEP! Alright, and here we go. We're doing the thing that still doesn't happen. You said it has a name, but I disagree. I don't think that it does. TNN? TNN, fuck, is that really it?

Starting point is 00:45:43 Ben, we've had weeks and you just go, OOOH, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, I like, TN, fuck, is that really it? Ben, we've had weeks and you just go, ooh, I'm like, oh, yeah, I guess, but I just thought we'll have time. We'll figure it out eventually. How, when do you want to do it? I don't know, sometime. I guess we should get ready to do it. Well, they need their pick one or... I don't... Oh, yeah, we do need our papers.

Starting point is 00:45:56 Yeah, it's okay. Who needs them? You apparently. Well, I'm doing ghost papers. Alright, here we go folks. In a recent Wall Street survey, dumb money confidence was shown to be, quote, extremely optimistic, and smart money confidence was rated as neutral,

Starting point is 00:46:11 suggesting return of negative 1.1% over the next two months. Of course, if you'd like to read more about dumb money confidence, you can check it out and read all about it in the latest edition of Dip Shit Quarterly. That fucking sucked. Yeah, you can do yours. I wrote it this morning. You don't have to put them in.

Starting point is 00:46:33 No, I know, but let's keep that in there. On Monday, after 30 years on the Lamb and achieving infamy as Italy's most wanted fugitive, Mateo Messino Denaro, the last Italian mobster, linked to a savage period with Sicily's black hand, declared war on the Italian state, was quietly arrested outside a clinic in Palermo after he showed up under an alias for a medical appointment. Prime Minister Georgia Miloni called this the first step in showing Italian criminals, that if you murder a 12-year-old and dissolve his body and acid and strangle a pregnant woman, murder multiple informants and bomb anti-maphya prox cuters.

Starting point is 00:47:07 We will catch you 30 years later when you try to go to the doctor. Very good. Do you like it? Yeah, it's great. All right, take this one. Can't tell if he's making fun of me or not. No, no, no, no. I don't care.

Starting point is 00:47:21 I liked it. All right. Argentinian soccer legend Lionel Lionel? Lionel? Lionel? You go for whatever you think is right here. Argentinian soccer legend Lionel Messi's clothing brand, the Messi store, made its US market debut last Friday

Starting point is 00:47:37 with the stock jumping 200% before closing the day in the red. The IPO was only sized at about $7.5 million in the company posted just $336,103 in revenues for the first nine months of 2022. Quite messy, if you ask me. When asked for comment, a spokesperson for the messy store inexplicably tumbled dramatically onto the floor and clutched his knee. He cried out in pain for a minute before getting up and calmly walking away, having never provided any comment. Get it, cause it's soccer.

Starting point is 00:48:07 Yeah, no, no, we got it. And they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, they, no, could you get it? Cause it's awkward. The world economic forum takes place this week in Davos, Switzerland, and members of the business elite are annoyed at some of the topics that have made it onto this year's agenda. Some have found that wokeness and culture war panels have no place at the conference. One billionaire who asked to remain anonymous said, look, I could get behind Black Lives Matter

Starting point is 00:48:39 and stop Asian hate, but when are they gonna let us fuck kids again? Soon, sir. Soon, very soon. Don't worry. I hope that guy gets to follow those kids really do too. I hope he seems pretty bent out of shape about it Bed bath and beyond is looking for a capital infusion has been in discussions with lenders as it tries to nail down financing That would keep it afloat during a likely bankruptcy filing according to people familiar with the matter financing that would keep it afloat during a likely bankruptcy filing according to people familiar with the matter. The company is also running a sale process in hopes of selling its home goods chain of stores. Bed bath and beyond is encouraging any potential buyers to check their mailboxes for a special coupon that would get them 20% off the entire sale price of the company.

Starting point is 00:49:21 You get it because they mail those cards out like they're going at a style. He's morning. Yeah, I did. I just thought the most obvious shit. Fuck. The rising interest rates are starting to hit landlords. Who will think of the landlords? All right. The landlords who can't afford their hedging costs. Property owners are now paying 10 times as much to ensure loans against rising interest rates as a year ago. When reached a comment on the recent bad luck for landlords, one tenant had this to say, I don't care about that motherfucker.

Starting point is 00:49:53 Why are you asking me about him? Tell him if I see him, there's gonna be fucking trouble. Geez, I guess he doesn't really care about the rising cost for landlords. Who was that? Was that you? I don't know. It just said one tenant.

Starting point is 00:50:06 They won't stop construction on your day in the department. I think he has to be anonymous. A tragic. You know those Chinese investors? Careful. Those Chinese investors are flocking to Ireland as part of their immigrant investor program, which was started in 2012. And as of 2022, Chinese investors accounted for over 90% of the program's applicants.

Starting point is 00:50:26 That's a lot. So here now for a bit of commentary on this is our one and only Scottish correspondent, Taylor Stewart. Let's cut to Taylor. Taylor, how are you doing out there? I'm good. I'm okay. Apart from that, China stuff.

Starting point is 00:50:42 I'm doing quite good. How are you doing both? We're doing all right. So these Chinese investors are trying to offshore some of their money from the, hide it from the Chinese government through this Irish program, but I wonder for you as a Scott,

Starting point is 00:50:59 how that makes you feel if you wish that they were doing something to help bolster your economy. I very much do. I think they're being very stupid. I think it's very stupid of China to invest in Ireland. It's a dangerous place. Basically, China investing in Ireland would be like the king of Atlantis investing in flip flops. It would be pointless because it doesn't have feet. So replace feet with resources and then you've got Ireland right. No resources, nothing to do, nothing but shite if you'll pardon my language. No, no, your language is fine. So you're saying that Ireland has nothing to offer in Scotland

Starting point is 00:51:36 has more to offer. What does Scotland have to have? Nothing to offer apart from, nothing apart from danger. Well, it's 16 and half a dozen when you're looking at really, you're most unhappy customers are your greatest source of learning. You can just sit down and wait for opportunities to come. You've got to get up and make them, you've got to get up and go to Scotland. Put it this way, China is no use for Ireland. It's a dangerous place and they should reconsider removing operations to Scotland specifically airdre airdre right, isn't that I believe What is the stone hinge you got stone hinge, right?

Starting point is 00:52:10 Stonehenge. Yes, we've got a stone hinge. Can I need a tree? It's beautiful. Don't you see that it was like done by like ancient guys Gears ago China would love stonehenge. It's quite quite summer to there. Can I style over there? I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I mean, I Do you have galaxies in America? No, what's a galaxy? Chocolate? Oh, very nice. So, huh, interesting. So, you're saying that Ireland is a dangerous place, that that is the reason why they should, so it's more of an avoid what Ireland has

Starting point is 00:52:56 instead of a focus on what Scotland's got. Yes, put it this way as well, right? If every in Ireland is 1.8 per annum. Do you really want to be surrounded by all that danger and death? No. Plus in Scotland. Right.

Starting point is 00:53:12 Well, in Ireland, the Romans, oh, hold on. Did your lights just turn off? Am I light just turned off, hold on. What's going on over in Scotland? Whoa. Well, we can still hear you. We can kind of see you. You're just a little spooky. Hold on what's going on over in Scotland? Whoa Well, we can still hear you we can kind of see you your it's just a little spooky fuck give me one minute It's okay Turn up the brightness on your screen or your cell phone turn on the flashlight

Starting point is 00:53:40 Kind of a tough self yeah, really tough self for for the Chinese investment. How's the grid over there? I'm in England to sorry. I'm in England that the man. Oh, right. Okay. Okay. There you go. There you are. Oh. Right. Okay. Sorry about that guys. Uh, better flick. I'm actually an island at the minute. So my electronics are all, or they're all fucked. Everyone's broke because I'm using Irish Irish electricity, which is not reliable Anyway, where was that? So I believe I was talking about the Romans right Rome right Rome conquered the UK It conquered England it conquered Ireland

Starting point is 00:54:18 It did not conquer Scotland right Scotland remained untouched by Roman soldiers So if you're in Ireland you are in danger of being conquered by Rome at any minute. You'll never get conquered by Rome and Airdry. Plus, Airdry has got TJ Fryers, it's got Zimbabwex High School, which is where I went to high school, great school for all the Chinese children to go to a brilliant school, to go to the sky town, to the bonk car, and Ireland has got, I mean, I don't want to say it, but they've got the IRA and they've got danger. Oh my God, yeah, and then the shite electricity.

Starting point is 00:54:57 Well, Taylor, as always, we really appreciate your time and your very unique valuable perspective. So thank you and good luck out there in Ireland. I know it's very dangerous. So keep your head on swivel. Yeah, I'm home to get away from Ireland really quickly because I hate it here and so won't Chinese people. Yeah, okay.

Starting point is 00:55:18 Well, we'll get the message out loud and clear and hopefully they can start helping out the Scottish economy instead. So thank you very much, Taylor. No problem. See you guys later. Alright, Taylor. So long.

Starting point is 00:55:30 And there he goes. Well that about wraps it up. It goes my hero. I couldn't understand it. What are you saying? Really? I can. I mean, I got every like third word, so I kind of got there.

Starting point is 00:55:43 Alright. Okay. This is funny because he asked where was I. I'm like, I don. I mean, I got every like third word, so I kinda got there. All right. Okay. This is funny, because he asked where was I. I'm like, I don't know, man. I was hanging on by a thread. Geez. Well, we missed crypto corner. What do you have in crypto corner anyway?

Starting point is 00:55:56 Oh, the Bordeyt Yacht Club. Jesus Christ, these fucking people, well, you know folks, sometimes you just run out of time. Happens sometimes. Yeah, sometimes it happens to the best of us. And um, but that's why there's more time. Yeah, boy, this was a good episode. If you liked this one, let us know in those comments. Give us a follow. If you didn't like it, fucking keep it to yourself. Yeah. We worked really hard. Ben wrote those jokes this morning.

Starting point is 00:56:27 No, I didn't. I wrote one of them last night. I just was like, all right, the bedbath and meon thing, the obvious, the only joke you can make is the 20% off coupon. Because that's so prolific. It's a part of their ethos. They even have them at the register. Hey, you didn't have a coupon?

Starting point is 00:56:42 Okay, here's a coupon. Why don't you just make the whole fucking store a 20% lower? Yeah, why don't you make the whole plane out of the black box? It's orange, actually, it's not black. Yeah, why don't you make a whole plane out of the orange box? Yeah, why don't they call it the orange box? The indestructible orange box.

Starting point is 00:56:54 I'm gonna write a children's book explaining why you can't make the whole plane out of the box. People don't even understand that anymore. Why you can't? No, no, that joke. Oh, why not? It's from like the early 80s probably. Oh, yeah.

Starting point is 00:57:09 I think it's the Steven Wright joke. Oh, well, I don't think. Well, it's because it's too heavy. And it's not aerodynamic. It's just making the whole plane out of the black box. Well, that's about that wraps it up for this another riveting episode of this show. The best finance show out there if you see my car call the cops but also a cab so don't call the cops yeah just

Starting point is 00:57:35 confront the person driving it and accuse them say Jacku's! Jacku's! Call Ben. Yeah, call me. His number is... ... ... ... ... ... ... ... ... ... ...

Starting point is 00:57:53 ... ... ... ... ... ... ... ... ... ... ...

Starting point is 00:57:58 ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... What are they gonna text me don't pick up me go he picks up every phone call goes hello Ben Khan speaking

Starting point is 00:58:06 Ben you could see it's me calling why are you answering like man man for the people who made it this far in the episode What's sick once again? You're sick. I like doing it. No. What the fuck? Okay, so long. Bye after hours TMG studios dot TV. Bye This week on after hours What is going on with my feet in gay men? Will you keep letting guys fuck your feet? What's going on with her mermacy anyway? Is it fish or is it human genitalia? She looks like my ex.

Starting point is 00:58:35 Careful. You're smoking out of a cocaine. And you crawled into a bush to smoke out of it. And we could see some woman passed out and everyone caught it round her and we were like, we can't walk out of this bush now. Sign up on TMG Studios.tv to watch the full bonus episode.

The Trillionaire Mindset - 69: How JP Morgan Got SCAMMED

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