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Callaway? Scott, we are in lettuce, as they say. Do you hear about this Amazon is in talks to acquire podcast company Wondery for $300 million? So what does it mean for competitors like Spotify and the industry as a whole?
Mostly what does it mean for you and I, Scott Callaway? So, Cara, you know, her non-lo-passed the CO of Wondery? I do not. He's a wonderful guy.
And it's nice to see companies like that that are pretty bold. I think he got into podcasting or what I would call long-form creatively driven original content in the podcast form at a medium. There's just no doubt about that. That was a risky bold bet.
And it's nice to see entrepreneurs and companies and the people who back companies like that do well. So I think that's sort of uniquely American. That was sort of a crazy idea. And they did something exceptional.
They did a fantastic theory called Business Wars. They did a great documentary called We Crashed. And they sort of said, okay, we're going to be HBO podcasting and really put a lot of production values into it. And I can't imagine.
I bet their first one, they spent $5 million on and made $100,000. I mean, it's just one of those things where it really was visionary and it was interesting to see. It's good for them. So that's my first comment.
He's facing a legal battle on federal issues around money laundering and wire fraud over his work at Fox. I think it was when he was. Yes. Yes.
He seems to love it. Yes. He's charged with money laundering and wire fraud over alleged bribes and broadcast and rights to the World Cup and high-profile soccer tournaments. He's pleaded not guilty.
He says I'm completely confident when I have a chance before the jury of ever to try out I'll be vindicated. But he says he has no intention of stepping down. But nonetheless, he did a very good job with my cousin. This is literally news.
Is he personally charged with it or is this company? Yes, indeed. Yes, indeed. Well, let me just put my VC.
Two more Fox TV executives. They're a parrot every douchebag VC and CNBC. You know, money laundering pales in the face of innovators. It just we should overlook these things.
It's a good spot. If they can come up with great podcasts or cloud-based applications, crime is really not crime. It's a core. It's a feature not a bug with individuals.
I had no idea. Well, talk about pulling the rug out from under me. Sorry, I thought you did your homework. No, no, no, no.
Is it her not? I had breakfast with him in the Soahouse. He seemed like a lovely guy. That's pretty much all it takes for me.
You guys like people like a lot of them. There's this elsewhere. And Tonda Pinner Magazine three days ago, 13 Leadership Lessons with Wondering Founder and CEO Hernandez. Obviously, Amazon doesn't mind.
You brought up number 14. Don't Londermani. Yeah. Londermani.
Let's focus on us and not her non-legal issues. This is what happened. Because this is what comes to soccer, right? But go ahead.
First it was, I mean, if you think about this, fulfillment or this notion of featurization, where you take a business that is profitable and among its own right or that portion of that part of the value proposition is profitable, you make it, you pay numbers for it, don't make any sense. It's vastly take them multiple on earnings, can't justify what it is being acquired for, because you're using it as a feature or a point of differentiation to sell something else. So fulfillment, when you used to order a calphalon from, or a, you know, a Shennial Pillow from Pottery Barn, the pillow was $49.95 and they would charge you $29 to ship it. And shipping used to be for Williamson, almost something that made $3 to $5 million in eBay a year.
And Amazon came in and said, not only are we going to take shipping from seven days to two days to 24 hours to 45 minutes in some areas, we will make it free, price at below cost, because we're going to use it as a point of differentiation and feature for prime in the Amazon platform itself. Right. And then slowly, surely, entire industries became feature-ized. Hollywood, the entire industry, they've been feature-ized.
I like that feature. Where it's like, okay. I'm selling toilet paper. I'll spend $350 million for every Emmy, whereas HBO only has spent $70, which makes it just unprofitable.
But if I can sign up or raise my MPS scores on prime, it's worth it to me. And podcasts, officially, as of yesterday, have been feature-ized. And that is the numbers they are paying, not only don't make any sense now, they don't make any sense for the revenues these companies will likely produce in the future, in and among themselves. But, if Amazon, if Spotify, who knows, if Apple can use distinct IP, and not only that here's the thing, this is the- The only difference between Amazon and Spotify, years ago, when one of the very big names that was on Amazon, I kept telling this person that they were there to sell toilet paper and they should get a cut of the toilet paper sales.
I said, you're not there because of your towel. You're just a way to sell toilet paper, essentially. You're the rapping of what they're trying to do. But there is a difference between Spotify and Amazon.
They feature-izing it to do what? So their business is content. Spotify is verticalized. Spotify is doing the Netflix thing with House of Cards.
They're like, okay, at the end of the day, what we become as a co-op for all of the music industry. And the beauty of Spotify, and it really is incredible what they've done. No medium, not newspapers, not television, has figured out a way to take the entire medium and put it on one elegant app that figures out what you want to watch next. Think about it.
Think about how dramatic would- Yeah. Think about in television, if there was one app on your phone that had all TV and created playlists that television shows that seem to be fairly attuned to your taste. And all of TV was on one app and searchable and elegant and easy. What Spotify is not as remarkable.
Now what they're doing is they're having their Netflix House of Cards moment and realizing they need original, ownable content. Yeah. And so they're buying, and they figured out, okay, to get Taylor Swift to be exclusive to Spotify is even too expensive for Spotify, but they can come in and buy original podcasting. But what's happening here across the other guys is that typically the area of the world is they get feature eyes are areas with really high NPS.
Because what it does is it creates an emotional- It's like an NPS is for the- Well, not for most of the people. In other words, everyone hates their cable company. But most people love their streaming network, right? There's just certain industries that create an emotional connection.
And so what's happening is that emotional connection of an industry is being monetized. People love modern family. They don't feel as passionate about, I don't know, they don't feel as passionate about their software package or even their handset. And so things like music, things like television, they're being feature eyes because they can create greater NPS and greater affinity and greater customer loyalty.
And you're going to see, you could go down, and this is obviously talking our own book here because I think we're probably the premier IP and technology means business. But you're going to see so many names and IP and podcasts go for irrational numbers as a means of the featureization of IP and podcast. We're going to be a bugger feature. I think we're both a bugger feature.
I think the answer is yes. We're going to be used. At some point, our stuff will be used to sell, as you said, more paper towels, more handsats, or make subscriptions more loyal. But if you could go through industry and find the highest NPS, and those ones will likely be purchased at an irrational premium, it'd be an interesting exercise to go through and say, OK, we're the highest NPS industries and those companies will likely be acquired.
Oh, interesting. Interesting. Interesting. What do you think?
That's my take on which I don't. I think it's lettuce time for Cara and that's what it's like. What is lettuce time? Is that your way?
Is that your way? Would I call champagne and cocaine? I guess. Or disco time?
It's really interesting. But it's sad to think of like, this is content as a feature. Like we make content, well, I do, I don't know about you, but I make content because I like think it's an actual product. Like you people want to consume and not in order to help Jeff Bezos.
So, toilet paper or Apple sell handsets or Spotify do whatever it's doing. I think they're more in the very clear content space, comparatively. They're like Netflix. They're very much like Netflix.
But you know, these are sort of the Netflix's and Spotify's and World Versus these big conglomerates like Amazon and Apple that are using it for other means. In any case, it's not economic. It doesn't make any economic sense. That's the one thing is it doesn't.
Like selling, I think the journal was saying this or one of them was saying that it's a $40 million in revenue and I don't think that's probably accurate necessarily or that it's has everything glummed in there. But that's still an enormous run up for a company that does that. It's also dependent on hits, right? Depending on getting the talent when there's enormous amounts of competition for that talent.
Yeah, it's just when you think about it, I would bet that their trailing 12 months revenue look more like 20 million in terms of actual revenues. So that's 15 times revenues. But if you can get people listening to Amazon music more, if you can get people using their Amazon show and their Amazon speaker and just basically spending more time with Alexa, it's probably worth it. I mean, they can just monetize that.
Anything that takes the NPS of their voice and content products up, you know, a one basis point in NPS and loyalty is worth a lot of money to Amazon. So I mean, I think actually this is kind of a no brainer because if they get something interesting, if they get, end up getting what ultimately might become the HBO with podcasting and they have the console, they have the creative talent, they might do crossovers in terms of movies and podcasts. You know, I'm sure they'll- Yeah, there's a lot of that actually. I wonder who's very strong on that, you know, that going back and forth between the two.
It's a really interesting time. It continues to be a happy time for podcasting people. Well, what you're going to see is, I think, I think this might- - This guy's my prediction is I think you're going to see what I'll call multi-platform content creation is going to get some legs behind it. And that is I bet the next three or six big original series on Amazon Prime Video also launched concurrently with an audio version podcast on Wondering.
Yeah. So they'll start the creators will start saying, okay, when we green light transparent, we need to have a series of podcast series. Yeah. Sorry, you're happening a lot of ways.
But in a more substantive way, you're right. We're going to need to monetize it across multiple platforms and add new dimensions to it and have the podcast version, the original scripted TV version. I think it's so interesting in terms of- I think there's going to be a ton of innovation I know I'm rambling on here, but I had a conversation with Judd Apatow and then- I think it's Chris Mullind, you know, that Judd Apatow, I think it's one of the best film storytellers of our time right now. And Chris Mullind, you know, is kind of the Disney of our generation.
He did the Minions series. And I said to both of them, I said, you know, they're both trying to figure out the industry is moving so fast. Yeah. And I said, it's all about format for you.
And that is, if you look at the movie, the King of Staten Island starring Pete Davidson. Yes, he did. I think it did. Okay.
Not great. The theater's not said. The problem here is the format. And that is, you should have taken 120 minutes, turned it into 240 and then sliced it into eight, 30 minutes segments and put it on streaming video platform.
Yeah. And then I'm like the next time- You're not used to that. Does it really? Yes.
That blows my mind. I just finished that by the way last week. Yeah. Just finish it.
And then they decided, and he was sad he had to cut so much of it. And then the people from Netflix was like, don't cut it. Make it into eight parts, six parts or whatever it was. How many parts?
Anyway, fascinating times. People have to rethink. I love that you're talking in Cenopita when the minion guy advice. In any case, Scott, good news for us.
I'm not saying they're listening. Yeah. They're listening. I give anyone I need.
I am so good care at living other people's lives. Yeah. I know exactly what other people should do. Don't look at what's going on in my life.
Do as I say, not as I do. Fair point. All right. In other news, Amazon by the way, while it's busy doing this, it's also rolling out Monotron from AWS, which is the scariest sounding product ever.
It's a new tool that allows factories everywhere to monitor their workers' machines. Why not call it Skynet? You know what? It's just like, could they?
They probably were like, let's call it Monotron. They do use it in their own facilities and now they're monetizing. It's a smart group of people over at Amazon. Why is it?
Explain to the people what that is. They have it in their own factories. It monitors workers and machines. It just monitors them.
If they're doing everything right. How do you do the boxes? They watch you and then tell you how to get better, essentially. To be more efficient.
You're grabbing the wrong box. You're grabbing it the wrong way. You're not doing it. One guy was like, you have to do it this way.
I'm sorry. It's called Monotron. It's not called Marriage Tron. You're doing it wrong.
You're doing it wrong. Jesus Christ. You're fucking useless. They love to monitor.
As you know, they love to monitor everything. They're monitors. They're all monitors. Let's just say they have a lot of information about you and I and their workers and now they're going to get it all around the world.
They're a logistics company. Let's remember, Amazon is not just all these other things. But logistics is at the heart of what they do. All right.
We're going to move on to big stories. Salesforce has officially bought Slack. Something we have long predicted. Not necessarily for a support, but that Slack would sell.
We speculate about this for some time. But this week, the $28 billion deal went through. Salesforce CEO Mark Benioff called the move about the pandemic driven shift to remote work. Isn't temporary?
The deal still needs regulatory approvals. 55% of slacks shareholders have committed to supporting the sale. It's absolutely going to go through. It's interesting.
The Slack didn't do it. It hasn't done very well in the pandemic. I didn't think they had enough tools. I think people were using it exactly the same way.
And of course, there's competitors like teams, which is really up the ante in lots of ways, including video. So what do you think? I mean, I just think they couldn't compete, right? And they had to go ahead to sell as we've talked about.
I just am all right. And I don't. I'm not, you know, I'm still trying to fully understand this. But when I think about this, I think this could probably be the best acquisition in 2020.
Tell me why. Well, like most acquisitions, the market doesn't like it initially. When Facebook bought Instagram, people totally second tested. It's $28 billion, which is a lot.
And I think Salesforce is about $200 billion. So it's about a 14% illusion. But think about what it does. I think about Salesforce being kind of CRM first and cloud.
And basically, there's one or two people in your company usually that have any idea what Salesforce is. Like, I know all of my companies use Salesforce, but I'm not entirely sure what it does. Occasionally, they yell at me from putting stuff into Salesforce, but I don't really understand it. Slack is going to almost take the entire thing without code.
It's almost like busting a movie consumer because the majority of the smart young people in your company are in Slack and all of a sudden, they're going to have an interface and direct relationship with Salesforce. And it takes them from cloud-based CRM to true enterprise productivity. It plays into the incredible dispersion of work from home. I mean, it also says the market place is going to go, okay, looks like a Microsoft, the most valuable company in the world, one and a half trillion dollars.
Who's a close second to Microsoft at the first time? Salesforce at 200 billion? I think that's, I think Salesforce, who's stock has consistently gone up. I think it's going to keep going up.
I think this is really a visionary strategic acquisition. The Google event, Slack really couldn't. I mean, Microsoft did look at Slack early on. They tried to buy it, went for it, went public.
Several times, Peggy Johnson was leading that effort there. And, you know, Google certainly looked at them. They were looked at by everybody who would make sense, you know. And what's interesting is what happens now to Zoom and others?
Like, who sucks that up? And I think they got half to be sucked up at some point as a purchase. Well, probably by Salesforce again. So, what do you think of this?
I think, you know, I had, I've listened, I've been on the receiving end of Stuart Butterfield saying he's not interested in selling, because he wants to build his thing. No one's interested in telling himself. I know, but he was particularly adamant about it. And he's so worthy investors.
And I was like, there's just no way you're getting out of this one. The people you're competing against are so good, you know. And Microsoft will just gin it up. And they're quite good.
You're in an area where there, you know, some companies like Spotify or YouTube, I was like, don't sell, they suck. You know what I mean? But in this case, their competitors didn't suck. They just were slow.
And once they caught up, once they started a catch up. And again, I think they weren't keeping as many executives there as they needed to. A couple of executives left, they think it was exhausting to try to be the little guy, even if you have the better product. And they couldn't, the security issues, the selling into corporations.
This is a business that really requires heft. It's sort of like, it's interesting I entered the two scientists who did a buy-in-tech, who just created this Pfizer vaccine, that Pfizer is distributing. Pfizer did not create it, this German company did. But they were saying we couldn't distribute it, we couldn't do the trials by ourselves, we're too small.
And we needed the help of Pfizer to do this. And so they made perfect partners. And this seems to be the same kind of thing, is that here's this innovative group of people making a great piece of software. It's sort of hit a wall because these things inevitably do, right?
You've got to really have a great sales force, you've got to have security, you've got this. And they're hooking up with a company that will sort of like kind bars selling to Mars. Like there's only so far, certain people can go before you can't go any further. And I think that was the case here.
I thought it was always a feature of some other person's company. By the way, kind of. I think I bought for what? What did I get going on?
Daniel's right. Yeah, I was going to say Daniel Lubecky is such a wonderful man, who basically wanted to start a company that helped facilitate connections between, I think, the Palestinian people and Israeli people and tried to come up with a foundation. But he's really a wonderful young man who brings together kind of purpose driven companies and obviously an incredible business acumen. So good for Daniel.
He got it in, you know, actually business was problematic under the pandemic because people would eat them at the offices that was bought, sold into offices, cafeterias. You know, the deal they made that was so big for Daniel was with Starbucks. That really was. I know a little bit because he owned the code.com.
I tried to buy it from him. I tried to buy when we did the code conference. And I think it was code. He owned whatever the thing I needed, the URL.
He said he would lend it to me, but I had to do a conference on peace. That's so Daniel. I'm literally more like to me. That's so Daniel.
But he was lovely. I was like, if you could do a conference and focus on peace, I'm like, yeah, no, not Keras with your brand. But it's like that. Like he could only go so far.
And he actually said it very clearly. He needed half of Mars in the distribution in the international. And this is the same kind of thing. It's a great piece of software that was made actually out of a failed gaming company, which was called Glitch, I think.
And he's taken it as far as he can. And Stuart's done this before with Flickr and other things. And so I don't know how long he'll stay there, although a lot of people Brett, the team is all over. He's also had another fail sort of social network was sold into sales force.
Same thing. Mark is good at doing this. And of course he wanted to buy Twitter. You know, if you remember, people forget that.
So it's a good purchase. It makes sense. He was in a good spot because nobody else could buy it. Like I don't think Google could have gotten it through.
Microsoft certainly couldn't have. It would have been very difficult. So it's not a good thing. Do you want to know how I know Daniel Lebetsky?
How? Let's get back to the important stuff. So I think Andy Barr. So I think you know this, but I cheat at the age of 32 in 1999.
Internet companies, not a shaped head. So everybody thought it was a fucking genius. And I got invited. I was given a sink called or asked to be a global leader of tomorrow.
And that means you get to come to Davos and pick a hundred people a year. Yeah, my ex-wife was one. Yeah. And we're supposed to educate, you know, the COVX on about the future.
And everybody thought we were the next big generation of Padwan, so to speak. And on the plane, all these gorgeous outies pick you up at the Munich airport. And they have these things. And in my car, we're a bunch of guys.
I didn't know. Or my minivan. And it was Pierre Omidyar, Daniel Lebetsky, Mehmed Oz and me. We were four of the hundreds of that year.
I wonder if we were there the same year. Well, my question is, what the fuck happened to me? What happened to me? Look at Pierre Omidyar.
It's like buying and selling islands and nation states. Mehmed Oz, whatever you think about it. He has a force in the world of media, right? Daniel Lebetsky is selling candy for a billion and a half dollars.
And I'm stuck in the middle with you, my lover. Stuck in the middle with you. What happened? Because I remember him here at that.
I went as a wife of a global leader of tomorrow. And I just wandered around with a special bag and badged and bothered people. Because I didn't have the press badge, which is less good than the global leadership. I called the white badge.
Whatever I wanted to know. I told you my whole thing. I used to just hang in the coffee room and talk to people and annoy them. At one point, I had to tell you this story.
This is really funny. So I'm in the coffee room and I'm like the wife of. And this woman was getting coffee and I said, hey, how are you doing? What do you do?
And she's like, I'm the Prime Minister of Latvia. Well, of course you are. And I went like this. I go, that's a good job.
That's a good job. That's what I said to the Prime Minister of Latvia. That's a good job. And I just, yeah.
It's like, yeah. You guys an awesome party down at Vinderega. I'm literally like, I can't believe I said that to the Prime Minister of Latvia. Anyway.
I remember talking to you about me, but I like to drink and I remember going down to my hotel to the bar and on the left of me was Warren Beatty and on the right was Yasser Arafat. And I'm like, I like this. Whatever's going on here. I like this.
I hate Davos. I hate Davos. It is where rich people like each other up and down. That's insane.
I was invited three times and they haven't invited me back in 15 years. I gotta get back. They don't invite me. They don't invite me.
They don't invite me. They don't invite me. They don't invite me. They don't invite me.
They don't invite me. They don't invite me. I'm on the record about that. Anyway, Scott, let's go on a quick break.
I don't like you to please invite me back. Please invite me back. You need to invent something. You're not keeping up with the people in your minivan.
No, you're right. We can see that like, careening through the Smiths Alps. It would be really funny. Alright, let's go on a quick break.
We'll come back. We'll talk about Trump's latest move to repeal section 230 and I'll listen to a question. Okay, Scott, we're back. Oh, God, the exhausting Donald Trump among the other things.
I see now he's gone beyond this with his 46 minute whatever the fuck that was is vowing to veto the defense spending bill unless Congress repealed section 230, as you know, in a tweet Trump said, quote, section 230, which is a liability shielding gift from the US to big tech. I know what that means. The only companies in America that have it, corporate welfare exclamation point is a serious threat to our national security and election integrity. Our country can never be safe and secure if we allow it to stand.
What bad writing, but essentially wants to attach to 32 the defense bill. If he doesn't get his way, Trump is threatening to nix this year's National Defense Authorization Act, which never gets nixed and all the senators and Congressmen are like, no way. Trump, good luck. And they took it out.
They stripped it out. So they're stripping it out. So what's the deal? What do you think?
Why is he so fixated? I mean, it's just part of this like dementia or what's happening here. So my youngest son. My oldest his nickname is favorite.
My youngest son, his nickname is terrorist or at least that's a nickname in my mind. And every day he constantly, my 10 year old son is constantly assessing the household and all the personalities in the household for their weaknesses and their vulnerabilities so he can strike. And he usually strikes like clockwork about 15 or 20 minutes before he's supposed to go to bed. It's just the whole house kind of implodes into a big, I don't know, he starts hitting his brother.
He starts arguing. He gets tired. And we used to respond to the behavior by saying that's wrong. We'd start parenting him and getting in his face and he would get back in our face.
And the whole thing would just kind of digress. We just hate the idea of our kids going to bed on a bad note. So we spent a ton of time trying to ease him down off this ledge. And actually Sam Harris said something to me that really in terms of moved to register me.
And he said, instead of trying to, I asked him for advice on parenting, he said, your natural reaction is to parents to coach to be a role model. And he said more often than not, what he's trying to do is just love their kid. Now think about whether it's right or wrong, but just love them. And I tried that and it did not work.
But anyways, what we ultimately end up doing is just saying to our 10 year old, that's it. Go put on your pajamas. Yeah, you're right. We're all awful.
Your brother deserves to be hit. Just go brush your teeth and put on your pajamas. And what is obvious is that our son is lashing out in one's kind of desperate for relevance and attention. And it's time for Donald or the president to go brush his teeth and put on his pajamas.
This is nothing but him acting out. This is a desperate plea for relevance. It makes no sense. Attaching our national defense to Section 230.
I mean, it's just kind of... I was like, this is weird. But this one was particularly odd. Why this?
Because he's getting labeled? I think that's what it is, right? The labeling or date type or dawn? I think that made him upset.
No, you said it. You know how we have this extraordinary ability to take almost any story and reverse engineer to Candy and in our experience as a Davos? Because I won't say this about you, but I'm a narcissist, which is the bad news. The good news is I know it.
This guy take that narcissism times a hundred. He just wants to be in the news every day and express and say, okay, I mean, it's sort of every day. I have to be the story and I'll show you... Nobody aired it except for maybe own, right?
Well, everyone's just starting to ignore the guy. Yeah. Everyone's just starting to say, okay, yeah, right. It's just not.
It's gotten kind of... Everybody ignored it. That was astonishing. Made me nervous, frankly.
Yeah. Her is gonna fire Bill Barr. That makes me nervous. He's definitely trying every...
And then, you know, they rolled out that woman yesterday that looked like Cecily Strong, a woman you don't want to talk to at a cocktail party. Did you see that video? I didn't. She was so crazy.
She was in Michigan hearing or something that she was so crazy. Really, Julani was telling her a calm down. She was just like, it was bizarre, it's changing. It's like, what's the theory here?
Because he's pretty good on his brand. What do you think has happened here? Because I think he's always been pretty canny about how he presents himself as a fighter or a talent like it is or whatever. It seems not.
Maybe I'm missing something here. But it feels like he's off his crazy game. Yeah, but even Umberto Echo, Italian philosopher, calls it the Monica Winski effect. And that is our society, now rewards people, disobeying famous, disobeying relevant and maintaining a certain level of awareness, regardless of what it is, what the catalyst is for that awareness.
And I hate even grouping. I think Monica Winski is actually an impressive woman. She's wonderful. She's gonna hate you grouping me.
Yeah. Well, I'm sincere. I didn't mean to be mean to her, so my apologies. I think it's an impressive person.
But she's famous for something that a lot of people would say is probably not great for our national character. Anyway, I'm going to rabbit hole here that has absolutely no upside for anybody. But for you, there you go. God damn it, I was in a car with Pierre Omeniard.
That's right. That's right. Federal charges for money laundering. And why are you?
I'm not my buddy. I'm a great guy. Why did you notice? Why did I notice?
Why did I notice your body? Why is he doing this to brand S? If I did due diligence, I wouldn't be on this podcast right now, Cara. My gosh.
Anyways, listen to me, I want you to explain what's going on from a brand management point of you. It's awareness. It's awareness. The guy, I mean, nobody ever thought Trump condominiums were gonna be tastefully done in an interesting layout.
It's just 98% of purchases are done through organizations, brands, and services that we have heard of before. So awareness immediately makes us feel safer. So when a big building in Chicago says Trump on it, even though it probably means 12 carat gold, and ridiculously over the top bad fashion, it still is worth it because people immediately go, oh, the Trump building. And so he's figured out that awareness is more important than necessarily what generates that awareness.
And also, I just think the guy can't stand to not to feel as if he's irrelevant. He's like, I'll show you. You know, someone's fired and all of a sudden get angry and start acting out at work. And there is a lesson here for young people.
And that is what I coach young people around is you can spend 10 years at a company. The way you behave the last 30 years is important to your memory, impression of brands. It's the first nine years in 11 months. And that is people remember how you leave.
And it doesn't matter if you've been fired. It doesn't matter if you've been treated poorly. If that has happened, call a lawyer and go gangster. Otherwise you're gracious.
How can I help? How can I transition my responsibilities? You thank people. You take time to be gracious because 50%.
Think about this. I'm not going to be a great reputation as an organization. And what's just as important as how you leave. And the temptation is to all of a sudden start airing grievances and stick up the middle finger on your way out the door to the elevator for the last time.
The grievances is this is brand. Grievens is this is why we don't. It's such a bad move. People remember how you leave.
Anyways, not. I think the question is what will happen to the section two. Even the Republicans are like, this needs to be done in a bipartisan committee way to figure out what to do about reforming two 30. It's almost like defund the police.
It's like get rid of two 30. That's not the thing. It's actually reformed two 30. And I think it's interesting that the Republicans just to ignore it as usual.
And there's nothing. You know what's going to happen. That's exactly right. Nothing.
Nothing's going to happen. And tech companies aren't even reacting. Nothing's going to happen. They're not even bothering.
They're not even putting up press releases. And I know because the reality is, you know who gets sued? No. The New York Times.
Yeah. Every time some batchets crazy person comes and comments on any story and says something slanderous and New York Times gets sued. Yep. So this is you and your ability to bring in really thoughtful guests, including that guy from the New York Times, talking about two 30.
I have been totally educated about two 30. I went to gross oversimplification and I was a band two 30 guy remove it. And what you realize is no, it needs to be modified. Complex.
Complex. It's not going to happen. Nothing's going to happen. All right.
Moving on. Let's take a listener male question presented by Yappa, which is pretty freaking cool. I saw it on Twitter, but go ahead. You got to keep the leaf.
I'm going to be a male male. You got male. Hi, Karen Scott. Love your show.
My name is Leela and I live in Scottsdale, Arizona. I support our local food bank that serves most of the state. And I've seen firsthand as this pandemic continues the increasing number of cars stretching for blocks, waiting for groceries. Scott's mentioned of one third of New Yorkers being food insecure reminded me of a question that's been on my mind for a while now.
Would you both give us your thoughts on how the grocery industry, farmers, food distributors, and logistics tech experts might find additional ways to coordinate in order to accelerate emergency food distribution, decrease the number of food deserts, and decrease the amount of food waste in this country? Is this even doable? Thanks. Wow.
That's a great question from Scottsdale. The food insecurity is astonishing right now in this country. And again, it requires to me a federal response once again, a federal response to coordinate in a coordinated way across states. And we're not seeing any kind of federal coordination of even vaccine distribution.
Everyone sort of left to their own devices. And so I think it's super difficult because the federal government is not concerned. The current administration is not concerned with this issue at all. It has never mentioned it, it has never discussed it.
And so among the many things it's never discussed it needs to do. The issues around food waste, I've always been astonished that there hasn't been more technology and other solutions brought to bear on food waste. It's always been, you know, you read a story every now and again about this terrible issue of how much food we have and how much it goes to waste. And there's all kinds of reasons for it, perishability and things like that.
But I've always sort of been amazed that no one's really taken on this issue in a way that would match food to people who are food insecure. I find it jarring when you see some of these statistics come sort of full force in the midst of a pandemic. And I think there's just no getting around it. If our national character I think has been revealed to be a lack of character.
And it's not just about food companies. I think as I always do, I go to World War II with immediately when the war broke out, a Chrysler factory was converted to a factory and within two weeks they were building Bradley tanks. And over the course of the war, that one factory in Michigan punched out more tanks in the entire Third Reich. What company has immediately converted to fighting this pandemic?
And also it happened with PPE too. The PPE, the stuff. It was just everything we do needs to be coordinated, federally and like in things like this. It reminds me of...
100%. But you could see like a whole foods are Amazon or delivery grocery partners responding to this. That's a great question. It's not just because they should have said, okay, we have 110 million households.
All of them need to be tested every week. So we need Blacksoamazon, Walmart app, but we need all of you to come together and we need to see... We had that press conference. It was a bullshit press conference.
We need all of you to come together. A profit's heard at an all time high. Now it's exit at an all time high. And today, today we have more deaths and more infections eight months into the pandemic.
So okay, if the market's heard at an all time high, savings rates are heard at an all time high, your stock is an all time high, and more Americans are dying every day, then perhaps corporate America under the auspices of leadership and quite frankly some sacrifice. You know, we also did in World War II. Everyone's talking about their individual liberties, where I fucking mass. We put 5,000 men in jail who avoided the trap because we decided this is about sacrifice.
And you may think it's individual liberty to say, well, World War I was a terrible war. I'm not signing up for the best time. We're putting your ass in jail. There is no leadership.
There is no mandatory federalization of our supply chain around food, around testing. And it also... And no one individual wants to disarm unilaterally. I think a guy like Doug McMillan would absolutely participate in this, but he's not going to do it all the time.
He said that, if you remember, you've forgotten that press conference, Trump had you dragged them all out without masks, of course, when they said they're going to do this in the parking lot of Walmart and in CVS, they forget who else. He had a whole bunch of them. But it was all bullshit, one because Jared Kushner organized it, and two, Peter Navarro was wandering somewhere around doing it. And so the inclination was there.
But you know, one of the problems is with food deserts after we come out of this pandemic, we already had grocery issues in poor parts of cities, like that there weren't enough grocery stores or there wasn't enough produce, there wasn't enough good food. There's a lot of shitty food in these areas, but not a lot of healthy food. And you know, with the delivery industry where people getting their groceries delivered now and it's expensive, that's going to be a real, there's going to be more groceries closing everywhere. And they certainly aren't going to be locating in areas that are problematic for them.
And so that's really another worry. And where the grocery industry goes post-corona. Well, it's being a post-corona. Someone has a book on it.
Where does the grocery industry go? Well, I just glad to know you care. Yeah. That's a book by Scott by it's called Post-Corona.
So, like, by the way, you didn't notice, I'm not going to, I'm not going to break. Tell me. No, I'm not going to break. I'm not going to break.
Say it. Say it. Is it ever one? Did you beat Jeff Bezos now?
No, I'm number nine on New York Times bestseller list. And I'm number eight. I'm one position behind Doris Kearns Goodwin. Doris, I'm coming for you.
Number four for Ritzacaria, 10 Lessons for a Post-Pandemic World. What is this? Is this on fiction? You know, eight nonfiction.
Seriously, for Ritzacaria, number four, his book, 10 Lessons, who was a guest for Post-Pandemic World, what is his publisher, Buzzfeed? Anyways, I'm sorry, of course, it's a contraction. I'm going to ask. I'm going to go after this.
I'm going to go after this. I'm going to go after this. I'm going to go after this. Anyway, your book is doing rather well.
It's called Post-Pandemic World. Give us a drop. Anyways, that was awful. We're talking about food insecurity.
I think there was a huge opportunity for an individual, whether it was Satya Nadella or Mark Benioff. I know they're civic minded to say to call all those people in a room and to call this board and say we're turning our company to the pandemic and it's going to cost us shareholder value. It's going to cost us revenue. I think there was an opportunity for someone here to say we're not punching out Buicks.
We're punching out Bradley tanks. We are the markets that are all time high. Stocks are all time high. Homes have never been worth more.
There's never been more wealth in this nation. What company has pivoted to a crisis that is killing three times the number of people to be access to? It's got to be Amazon to do this one. Jeff Bezos, okay, he's 56.
He's going to be dead soon. Life is going faster and faster. I know this personally. I'm the same age as Jeff Bezos.
All right. Years become seasons, seasons are becoming months. Jeff, you're going to be dead soon. Are you going to be remembered for Amazon Prime or Transparent?
One of these guys, and let's be honest, there are almost always dudes, has an opportunity to say country, flag, and people's well-being supersedes anything here. We are turning our attention until the vaccine is out across 60% of our society. We are turning our attention and our resources to the pandemic and to helping our brothers and sisters, we call Americans. Not a single firm has done that.
There's been no leadership in the government to say, all right, a bunch of you have to do this. It reflects such poor character on us as a nation. There's just no getting around it. I think it's not only disappointing from a national character standpoint.
I think it's a huge missed opportunity for somebody to say, per CO to say, yeah, I sat down with our shareholders, sat down with our board, and we decided that this is the biggest existential threat of our generation. We want to tell our grandkids. We want to tell Americans that we heard the call. We heard the call.
It's not just gross. It's not just publics or the food. It's not just important. Here's a good industry that is actually easy to do.
Two companies really do come to my mind to me. They could really be in front of us. This is what we're going to do. We're going to deliver groceries.
We're going to coordinate. They're logistics or Amazon. Those two companies should do something either together or in some way that would be or Walmart. Those are the three companies in this case, in two groceries.