FRIDAY WRAP: transcript 11/11

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LIVE from room 1111 at the ESG Fake Sheep Stew pop-up, it’s the I gue

ss Jessie is officially part of the Friday show now so this is the last time the introduction will waste time talking about her Friday Show edition of Business Pants Friday, featuring Ari the data queen, Jess the money whisperer, old man Moody Moscardi. I’m ES-D. On today’s show: nothing about Ye!

Story of the Week (DR):

1. US Elections JS MM
2. Climate advocates win key governors races as Democrats defy ‘red wave’ in midterm elections
3. 1. Even with a GOP House, federal climate action will roll on
4. 2. Climate change is no longer a weapon for Republicans
5. 3. A crew of Democratic governors will advance climate action at the state level
6. 4. The kids are alright—and probably saved the day
7. Woke is on the ballot this midterms
8. School culture war campaigns fall flat in some tight races
9. Twitter shitshow:
10. Elon Musk warns that a Twitter bankruptcy is possible after telling employees that ‘difficult times’ are ahead; more top executives quit
11. Head of Trust and Safety Yoel Roth, Chief Security Officer Lea Kissner, Chief Privacy Officer Damien Kieran and Chief Compliance Officer Marianne Fogarty
12. A day before Roth quit, the WSJ had a story: “Twitter’s Moderation Boss Is an Unlikely Ally of Elon Musk”
13. Yet in the chaotic period since Mr. Musk took over Twitter, the billionaire has publicly defended Mr. Roth and positioned him to be a key player in plans to overhaul how the social-media platform moderates content. With Mr. Roth, Mr. Musk appears to have found a partner for achieving the goal he tweeted Sunday of making Twitter “by far the most accurate source of information about the world.”
14. The Federal Trade Commission said it is "tracking recent developments at Twitter with deep concern"
15. In email to employees:
16. “Frankly, the economic picture ahead is dire” (where he basically blames advertising??)
17. Is this why Elon still exists: social media expert Matt Navarra told Insider that while Musk's decisions since taking over Twitter last week might seem haphazard to the untrained eye, the billionaire clearly has a "master plan." "I'm sure that he has a very clear idea, at least in his head, of core changes he needs to put in place to get it to his end goal," Navarra said.
18. Navarra does have almost nine thousand (!) Instagram followers, which must be some kind of record for a social media expert, so he obviously knows what he’s talking about
19. Musk claimed at an investor conference last week that he believes Twitter can become the most valuable company in the world
20. Crypto shitshow AB
21. Bankman-Fried Resigns From FTX, Puts Empire in Bankruptcy: FTX’s Sam Bankman-Fried Faces SEC Probe as His Empire Crumbles
22. In a blink this week, FTX sank from a $32 billion valuation to the brink of bankruptcy as liquidity dried up, customers demanded withdrawals and rival exchange Binance ripped up its nonbinding agreement to buy the company. FTX founder Sam Bankman-Fried admitted on Thursday that he “f---ed up.”
23. Another ESG win? Sam Bankman-Fried’s crypto empire ‘was run by a gang of kids in the Bahamas’ who all dated each other
24. Crypto peaked a year ago — investors have lost more than $2 trillion since
25. Meta says it will lay off more than 11,000 employees
26. Tyson Foods CFO arrested for public intoxication, falling asleep in the wrong house

Goodliest of the Week (AB):

1. Musk’s toughest troll fight on Twitter is with a Tesla parody account LOL MM AB
2. Twitter users with a blue checkmark impersonating big brands had amazing tweets. Here are some of the greatest hits by the fake-but-verified account impersonating Tesla over an incredible 8 hour stretch:
3. @TesIaReal: “Everyone’s talking about Twitter going up in flames but our cars did that before it was cool.”
4. @TesIaReal: “We will be offering 10 thousand vehicles to support the Ukrainian military. Our cars are the most advanced explosive devices on the market.”
5. And sensing the end was near: @TesIaReal: “We ride this til it combusts like a Tesla battery”
6. Eli Lylly parody account tweeted that insulin was now free - forcing the company to issue an apology on their real twitter account and admit that the price is not going away and people can keep rationing their insulin because #capitalism and #fyou
7. For more than 14% of insulin users, the costs amount to 40% of their available income
8. French scientists call for ban on private jets, a symbol of 'climate inequality' JS
9. Love me some scientist protests! Scientists are increasingly joining in civil disobedience!! As part of a broader international campaign called “Make Them Pay”, French scientists gathered outside Dassault Aviation’s HQ in Paris to denounce private jet use. The group demands the ban of private jets, taxing of frequent fliers, and overall making polluters pay for their outsize contribution to GHG.?
10. In a separate protest, on the eve of COP27 100s of activists blocked the departure of private jets from the tarmac at an Amsterdam airport.?
11. Private jets can be 5 to 15 times more polluting per passenger than an airliner.
12. voters approve protecting abortion rights DR
13. California, Vermont, and Michigan voters chose to protect abortion access and enshrine it into their state constitutions. Similarly, Kentucky voters rejected an amendment denying constitutional protections for abortions.
14. Other election highlights: Dr. Oz (yes, from the show) ran for a senate seat in PA, lost. Lauren Boebert - did not immediately win. Record 12 women will serve as governors in 2023, previous record of 9 was set in 2004.?

Assholiest of the Week (MM):

1. Morgan Stanley, Bank of America, Barclays: Twit Bankers
2. Twitter Buyout Loans Get Bid at 60 Cents as Banks Sound Out Investors
3. A short asshole bank timeline:
4. Musk offers to buy Twitter, signs agreement, immediately tries to back out
5. Kills price of Twitter
6. Musk said he’s “obviously overpaying” for Twitter
7. Musk dumps 4bn of Tesla stock to “save” Twitter
8. Kills price of Tesla, his collateral for Twitter loans
9. Banks still fund him because he’s Elon Musk like fucking assholes
10. Banks lose 40% of their money in literally 2 weeks because Musk is an asshole
11. No responsibility born by Musk, banks enabled asshole
12. Crypto bros DR AB JS
13. Crypto peaked a year ago — investors have lost more than $2 trillion since
14. Morning Consult report July 2022: Crypto ownership surged in the second half of 2021 when consumers “bought the dip.” And 17% of U.S. respondents said they or “someone in their household” own crypto, the report said. A majority, about 72%, are men, while 28% are women.
15. Crypto owners are “a more ethnically diverse group,” the report said. About a quarter of crypto owners, or 23%, are Hispanic, versus 17% of the general population. Overall, 41% of cryptocurrency owners identify as nonwhite.
16. It’s also a young population that generally isn’t making a lot of money. The majority of crypto owners, about 60%, are millennials or younger, and about 42% make less than $50,000 a year. Only 25% make $100,000 a year or more.
17. LET ME SUMMARIZE: “INVESTORS” DON’T LOSE MONEY, 27 YEAR OLD HISPANIC MEN WORKING AT WALMART LOSE $2 TRILLION
18. Hester Peirce (June 2022): The bitcoin market has grown, matured, become more liquid, and attracted more, and more sophisticated (in the traditional financial market sense of the word), participants. At thirteen years old and as of about an hour ago, bitcoin has a market cap of approximately $430 billion and is trading at around $22,500.
19. One feature of a non-sovereign, censorship resistant mechanism for storing and transferring value is its ability to function outside of the traditional financial system. Why drag it inside tradfi and thus expose it to the meddling of incumbent financial firms and incumbent governmental regulators? To these people I say, the concern for liberty and personal autonomy that drives you to prefer “we-at” to fiat ought also cause you to reject a government that arbitrarily limits people’s investment options.
20. WHO WISHES THEY HAD A REGULATOR NOW, HES!
21. Crypto is fake money sold to poor young minorities.? Can we agree on that?
22. Robots
23. Amazon: Robots spread but 'we still need humans'
24. First, “we still need humans” - thanks, asshole.
25. Quote: Companies across the supply chain are pouring money into such investments, pushed in part by difficulty finding workers, said Dwight Klappich, research vice president in Gartner's logistics team.
26. Let’s do a short timeline of company’s being assholes via robot:
27. Companies treat workers like shit
28. COVID hits, workers die
29. Companies forced to pay workers more
30. Companies forced to realize they treat brown workers like shit
31. Companies hire more brown workers
32. Companies mull the idea that “maybe workers are annoying”, invest heavily in robots
33. Humans left to wish they had legs in Mark Zuckerberg’s n-word filled metaverse
34. Also, while we’re investing in robots and the metaverse: Climate change: 1.5C warming threshold to be passed in 9 years as emissions hit record high - ABC News
35. ONLY THE ROBOTS WILL SURVIVE!

Exhausting-est of the Week (JS):

1. We don’t pay teachers living wages and now we’re messing with their futures too??! Canadian teachers could have a $95 million hole in their pensions due to the FTX crypto implosion
2. Canadian teacher’s avg starting salaries as low as $46,115
3. Yesterday the Ontario Teachers Pension Plan (OTPP) released a statement saying that in October 2021 it invested $75 million in both FTX International and FTX.US. THEN, it made a follow-on investment of $20 million in FTX.US in January of this year
4. Really got swept up in the cryptocraze
5. OTPP said any loss from its exposure to FTX would have a limited impact on the pension plan because it represents less than 0.05% of the pension fund’s total net assets
6. Hemming and hawing over Daylight Savings AB?
7. This past weekend when we turned our clocks back an hour, we returned to Standard Time which according to The American Academy of Sleep Medicine, in a position statement endorsed by cardiologists, dentists, the National Safety Council "aligns best with human circadian biology, and provides distinct benefits for public health and safety."?
8. Public safety alluding to studies that show accidents, strokes, and heart attack spikes when we switch to daylight-saving time in the Spring
9. We have a particular teammate that is exhausted over this debate. Let’s get rid of it once and for all and get back to our roots of honoring our circadian rhythms
10. Climate Contradictions? MM DR
11. Egypt is hosting COP27 this week through next- Nov 6-18
12. While hosting the UN Climate Change Conference, they still hold the priority of selling fossil fuels. Not to mention, critics challenged their fitness of hosting due to other glaring climate contradictions such as: lackluster emissions-cutting targets and massive infrastructure projects that are destroying green space across Cairo and sucking water from the already-stressed Nile, its main water source.
13. To the government in Cairo, a Europe in sudden need of natural gas is a very good thing- they plan to profit off of it, even if it means shortages in Egypt
14. Tracking remote workers doesn’t make them more productive. Here’s what it does instead
15. Findings show that tracking remote workers has no positive effect on productivity…instead merely leading to a lack of trust
16. 37% of employers have added or increased employee tracking software since the start of the pandemic. Unsurprisingly, 45% of employees are stressed out about being tracked by their employer
17. Surprise surprise, adults aren’t fond of other adults tracking their every move

Who Won the Week?

1. DR: Me: because Maine rejected mini-Trump former governor paul lepage and did the one thing i scream about most: kept a women in leadership
2. AB: KY
3. MM: Company fake Twitter accounts
4. JS: OVARIES!!!!

Predictions

1. DR: A Friday before Christmas news release reveals that Apple CEO Tim Cook has actually been dead for 4 years, which is why Apple consistently over-performs
2. AB: More deer will die.
3. MM: Climate change kills the humans and robots continue to do drone deliveries to dead people houses
4. JS: