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Kara Swisher Calls It Now: the Paramount Merger Won’t Go Through | Pivot

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Kara Swisher Calls It Now: the Paramount Merger Won’t Go Through | Pivot

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1690 segments

0:00

them spending hundred million dollars to

0:02

try and say we're likable and we're cool

0:03

again is like your uncle showing up with

0:06

a Ferrari to convince everyone he

0:07

doesn't miss his ex.

0:11

[music]

0:14

Hi everyone, this is Pivot from New York

0:16

Magazine and the Vox Media Podcast

0:17

Network. I'm Cara Swisser

0:19

>> and I'm Scott Galloway.

0:20

>> We've got a lot to get to today.

0:21

Paramount Sky Dance is pausing a Warner

0:23

Brothers Discovery merger until legal

0:25

challenges are resolved or until June

0:27

1st, 2027. That's like a long time from

0:30

now, folks. Whichever happens first. The

0:32

decision comes after a federal court

0:33

granted a temporary restraining order

0:35

preventing the merger from closing for

0:36

at least 28 days. Paramount is calling

0:38

the pause a significant win, which is

0:40

not, saying it provides a direct path to

0:42

a trial based on evidence, but investors

0:45

do not agree. Neither does Cara Swisser.

0:47

Paramount shares hit a 52 week low on

0:50

the news. The delay could get costly.

0:52

$650 million per quarter ticking fee

0:54

begins in October. And if the deal falls

0:56

apart entirely, Paramount would owe $7

0:58

billion breakup fee. Uh I I by the way,

1:02

Paramount just just brought on Beth

1:04

Wilkinson, someone I know pretty well as

1:05

its lead attorney, very good attorney.

1:07

She successfully defended Microsoft's

1:09

Activision acquisition. She's also

1:10

representing NextStar in its antitrust

1:12

case. Beth, [laughter]

1:15

>> the company you keep. Um anyway, she'll

1:18

win. Well, we'll see. We'll see. We'll

1:20

see. Um what's winning at this point? At

1:23

at this point. So talk a little bit

1:25

about uh what you think. I have thoughts

1:27

on it uh but I'd love to hear yours

1:29

first.

1:30

>> Well, I don't think they have a legal

1:33

leg to stand on. What they have is

1:35

delay. And delay costs shareholders,

1:38

employees. It it's effective and they'll

1:40

probably extract a pound of flesh

1:41

because par in order to win the deal,

1:45

one of the things that Paramount Sky

1:46

Dance offered in the purchase agreement

1:49

was a ticking fee of $650 million per

1:52

quarter. while the steel sits in limbo.

1:54

That's roughly $7 million per weight. So

1:56

these Democratic AGs who are probably

1:59

sick of a Republican weaponized DOJ have

2:01

said fine, what's good for the goose is

2:03

good for the gander. And they'll

2:04

probably be able to extract something

2:06

whether it's guarantees of certain

2:08

shooting within their state or spinning

2:10

a certain thing. They're going to and

2:12

you know, no one

2:14

all of a sudden less than no one is

2:16

going to know who the California AG is

2:19

going to be, right? they'll start

2:20

getting a lot of time on MS now. So,

2:23

this is political. They'll get some

2:25

awareness. They might get a pound of

2:26

flesh, but I don't I think ultimately

2:28

Beth will show will bring up a bunch of

2:30

expert witnesses in the form of

2:31

economists who will say emerged Warner

2:34

Brothers Sky Dance is 8% or 6% of all

2:38

viewing time versus Netflix at 9 and

2:40

YouTube at 13. The market has already

2:43

voted. Um, Paramount, as you referenced,

2:45

hit a 52- week low after celebrating

2:48

what management called a legal win. This

2:49

was such a Trump thing, trying to

2:50

pretend this is anything but bad news.

2:53

And investors understand something

2:55

executives often don't, and that is

2:57

winning in court can still mean losing

2:58

economically.

3:00

So again, the real competitor here isn't

3:03

Sky Dance or Warner Brothers. It's

3:05

YouTube, Netflix, Tik Tok, and

3:08

increasingly probably AI generated

3:09

entertainment. And as usual, legacy

3:12

media is fighting yesterday's war while

3:14

you know tomorrow's competitors are

3:16

scaling. But this is again this seeds

3:18

economic value and advantage from the

3:21

legacy players to the new guys who

3:22

aren't caught up in court right now and

3:24

YouTube can just scale.

3:26

>> Yeah, that's absolutely true. I don't

3:27

think she's going to win at all

3:28

actually. I think they Yes, I don't. And

3:31

I Right. Look at right now the price of

3:32

Warner shares $25. The delta between the

3:35

31 and 25 as Bill Cohen actually pointed

3:38

out is quite high. Supposed to be about

3:39

4%. It's it's a lot. That's a lot.

3:42

Investors have decided this deal isn't

3:44

happening. That's what I think is

3:46

exactly

3:46

>> they want a premium. So, so what you're

3:49

referring to is merge or arbitrage.

3:51

There's a whole class of investors who

3:53

when a deal is announced at say I think

3:55

this announced at 31 bucks a share,

3:56

whatever it is, if it's trading at 25,

3:59

what is that? That's about a 22 or 23%.

4:02

>> They don't think the deal is happening.

4:04

>> That's right. But what merger ARB guys

4:06

do is they say, "Okay, I think it's

4:09

going to close. I buy the stock now.

4:11

When it closes, I got my 31." And it's

4:13

hard to find 20 or two or 23% return.

4:16

But what you're saying is to your point,

4:18

the market is saying there's now

4:19

approximately, if I'm doing my math

4:21

correctly, a one in4 chance this deal

4:22

doesn't happen.

4:23

>> That's correct. Yeah.

4:24

>> And what would be interesting is what

4:26

happens to the stock if it doesn't

4:28

close.

4:29

>> Collapse. Collapse. Here's what I think.

4:31

This is this is what I think. All right,

4:32

let me go. Uh this is someone sent me a

4:35

very interesting legal um document which

4:37

I thought was great. They chose

4:38

financial hemorrhage over legal

4:40

precedent. This tells you everything

4:42

about how they assessed their chances on

4:44

August 3rd. This they were going to lose

4:46

on the preliminary injunction. They were

4:48

absolutely going to lose on that and

4:49

that would have devastated the the

4:52

stock. Devastated the stock and it was

4:54

you couldn't overturn it on appeal. This

4:56

called something called abuse of

4:58

discretion standard and the the merger

5:00

would have been over if they lost on

5:01

August 3rd. So they're push this this

5:03

this lawyer they had a guy named Kesler

5:06

um in hiring Beth. It's a great hire.

5:08

She's great. She's terrific. I don't

5:09

really care how terrific she is. This is

5:12

um they have I think they have decided

5:15

um this is let me read you this uh

5:17

Paramount blank. They looked at August

5:18

3rd hearing two PI motions two markets

5:21

A-list writer declarations a judge who

5:23

already tipped her hand and decided that

5:25

no ruling was better than another bad

5:27

ruling. That's a rational litigation

5:30

decision and a catastrophic business

5:32

signal. Um Peace Sky isn't just scared.

5:34

They've entered a survival mode and

5:36

they're trying to control the bleeding.

5:37

The question is whether the patient can

5:39

survive long enough to reach the

5:40

operating room. And as you said, other

5:43

competitors are scaling including all

5:45

these tech competitors and also Disney

5:47

and others. They have all kinds of

5:48

freedom to do things. Um they have this

5:51

ticking fee that's very expensive and at

5:53

some point the savings that they were

5:55

going to recognize in this deal are

5:58

going to disappear, right? That they

5:59

were going to do through the

6:00

coordination. And so

6:02

>> Oracle stock is way off. This is what's

6:04

paying for part of this. Yeah.

6:06

>> Um, this is delay. You don't have to win

6:09

at litigation here. You have to delay

6:12

the litigation. And Beth can push for,

6:15

and she's going to try to do this in

6:16

court, a shorter time span um in between

6:20

um in in between the um you know what's

6:24

happening here. But she she she's

6:26

frozen. It's really pretty much frozen.

6:28

So, she can say, "Let's try a

6:29

scheduling. It's on July 31st. They want

6:32

to get it this fall." It's not going to

6:33

get happen this fall. and the judge is

6:35

going to set this schedule and this

6:36

judge doesn't seem in any rush. Um, now

6:39

they've also forgotten the appeal into

6:41

the Ninth Circuit. That's going to take

6:43

until the trial is over. So, you know,

6:45

the California and the group is going to

6:47

appeal if they lose. Um, it just keeps

6:49

dragging and dragging on. And so, I I

6:52

don't see how I don't see how they get

6:54

this out the door. I unless they have a

6:56

settlement. And so, another another

6:59

document I got which was really

7:01

interesting and they said these are the

7:02

most likely ones. one uh states win at

7:05

trial, permanent injunction, merger

7:07

blocks, sky dance walks, Paramount

7:09

restructures or finds a new buyer.

7:11

Settlement possible. Um Paramount offers

7:14

structural remedies. Divesta studio sell

7:16

cable networks. Uh states accept or

7:18

reject. Um deal collapses economically.

7:22

Also possible.

7:24

Ticking fees exceed value of Warner

7:26

Brothers or Sky Dance. Uh invokes

7:28

termination cross clause. Merger dies

7:30

without a verdict. And then if Paramount

7:33

wins at trial, merger closes after more

7:35

than $1 billion in ticking fees and

7:37

severe reputational damage near certain

7:40

appeal by states. I just don't

7:43

I got to say I don't know. She's a

7:45

talented lady, but I'm this is not that

7:47

time is not on the side of Paramount

7:49

here in that regard. So again, as I

7:52

often do here, I'm just sort of flying

7:53

on instruments and thinking out loud,

7:55

but I wonder if the fulcrum here. So e

7:58

economically, if this goes on long

8:00

enough, they will it it will close

8:02

because

8:03

>> it will close the deal

8:05

>> if it goes on long enough. But and and

8:07

there's a there's a big butt here. Um

8:11

the data, the the only way this legally

8:14

doesn't close when they chase it all

8:15

down and they've had a chance to

8:17

actually evaluate it is to prove it's a

8:18

monopoly. And I don't I think they're

8:21

going to have a very difficult time. The

8:23

AG is proving that because uh

8:26

essentially a combined um a combined

8:28

Warner Brothers and Paramount would

8:30

represent about 12% of total US TV watch

8:33

time and YouTube currently stands at 13.

8:36

And in terms of box office sales, a

8:38

combined Paramount and Warner Brothers

8:39

represent roughly 25% of the domestic

8:42

box office. Now having said that, if the

8:45

fees if if this becomes economically

8:49

untenable because of delay and ticking

8:51

fees, they might just say throw up their

8:54

arms and blame Democrats. And by the

8:56

way, this is political. All 12 AG's

8:58

filing cases are Democrats here. The

9:00

judge that decided this was a Biden

9:01

appointee.

9:02

>> But the Trump administration waved it

9:04

through when lawyers of the Justice

9:05

Department didn't want to.

9:07

>> What's good for the goose is good for

9:08

the gander. This is if you're going to

9:10

weaponize the DOJ against us, whether

9:12

it's cutting off fees to our greatest

9:14

research universities with no legal

9:16

precedent, if it's if it's ram, if it's

9:19

carving up TikTok like a a political

9:23

give back to your Republican donors,

9:26

fine. You want you want to go that way

9:28

>> or waving this deal through when lawyers

9:29

at the Justice Department did not want

9:31

it to go through. Se many there I mean

9:33

there's a ton of examples. The FTC going

9:35

after the view. I mean, it's just if

9:38

you're going to be ridiculous, folks, I

9:40

I actually like Democrats punching back

9:42

at at some point. I do think the merits

9:46

of this case or the lack thereof will

9:48

result in a judge saying, "Okay, this is

9:51

going to close." The fulcrum, I want to

9:53

get your view on this. I think the thing

9:56

if this dies, I think the reason it will

9:59

die is if Open AI continues to have

10:04

negative momentum. Why is that?

10:07

Oracle stock for a while about I think

10:10

it was nine or 12 months ago Larry

10:12

Ellison became the wealthiest man in the

10:14

world because they announced a deal for

10:16

something like a trillion dollars in

10:18

capex commitment from open AI to build

10:20

out help build out their their

10:22

infrastructure around compute and

10:24

inference. Oracle stock is dramatically

10:27

off

10:28

>> dramatically. Yeah. And if the cracks

10:30

continue to widen at OpenAI, Oracle has

10:34

now become a tracking a public tracking

10:36

stock for Open AI. And I got to think

10:38

that that dad's piggy bank, which is

10:41

Oracle shares, are quite frankly that's

10:44

where this check gets cashed and if

10:47

Oracle shares come under enough pressure

10:49

and dad goes, you know what?

10:52

all of a sudden this went from five or

10:54

10% of my net worth to 20 or 30% and

10:57

it's going to quite frankly, you know,

11:00

I'm I'm going to wake up in in a in a in

11:02

a suit that's uncomfortable for me at

11:04

this age in terms of finance and debt.

11:07

He might decide, sorry, son, I don't I

11:10

can't refill your green light credit

11:12

card as I do because the deliveroo and

11:14

the Uber has become too expensive. I'm

11:16

now using the metaphor for what I do.

11:17

>> Yeah, it's down 52% in the past year.

11:20

52%. I mean year to date uh debt year to

11:25

date 39%. Uh 6 months 32% 1 month you

11:29

know it's just headed down. You're

11:30

right. I mean I this is what I had said.

11:32

Remember I had said this a couple this

11:33

Oracle stock thing that I was paying

11:34

attention to. That's besides the point.

11:36

I think that they just overindexed on

11:39

their confidence. They were like well we

11:41

got the Trump administration to roll

11:42

over. We gave the EU some stuff they

11:45

wanted. And then they were like China

11:46

said yes. I'm like what's the

11:48

difference? it doesn't really matter

11:50

because these guys have a what I thought

11:52

Bond did very smartly and I agree with

11:55

you it's a different market but the

11:57

judge is also calling that irrelevant

11:58

the streaming market irrelevant here for

12:01

this particular case um so I don't think

12:03

they have a great way in with this judge

12:05

and I thought they were overly confident

12:08

they did not think Bont would be quite

12:10

so controlled because he could have done

12:12

a get rid of CNN thank horrible CBS they

12:15

did none of that they did only a very

12:18

specific specific small discreet lawsuit

12:21

that will move will delay this just

12:24

enough. They don't have to win. They

12:26

really don't have to win here. They just

12:27

have to delay it. And the question is

12:29

how much will the Ellison's put up with

12:31

to own this. That's the thing. How much

12:34

they're rich enough to do it. It's just

12:35

a question of how much how much they

12:38

want it, right? I guess on some level.

12:40

And again, delays in deal making for

12:42

Warner Brothers. Delays. I mean, the

12:44

asset becomes less valuable. They can't

12:46

make any major deals now. They can't do

12:48

any major things and the other people

12:50

will benefit. It's not a good situation.

12:53

>> I think we're in violent agreement here.

12:54

And that is whether or not this this the

12:58

the legal merits here are important. But

13:00

I would argue the legal merits all point

13:03

to eventually this would close. But they

13:06

can they can get in the way of the

13:07

closing and force the Ellison to perhaps

13:10

walk away if they make getting to

13:12

closing too expensive for them. And it's

13:15

not only a function of the price and the

13:16

expense. It's a function of of how much

13:19

money the Ellison's have. And some if if

13:22

Oracle is down another 50%, I don't

13:24

think the deal closes. If it's up 20 or

13:26

30%, I think they have the staying power

13:28

to weigh these guys out and hire your

13:30

hire your very talented friend who by

13:32

the way has a very handsome trophy

13:33

husband. I just want to point that out.

13:34

[laughter]

13:35

>> David,

13:36

>> he's he's dreamy. He's dreamy.

13:38

>> She's going to be mad at us, you know.

13:40

>> Oh, really?

13:41

>> Yeah. Every now

13:42

>> I like it when baller women have like a

13:43

trophy a trophy husband. I think that's

13:46

>> he's a very talented journalist.

13:47

[laughter]

13:48

>> Come on. We've been doing it. We've been

13:50

doing Anyways, we've been we've been

13:52

doing that [ __ ] forever. I'm going to

13:53

get a text. Why should you be the only

13:54

one with a trophy? A trophy.

13:56

>> She thinks we've gone too woke. I think

13:57

I think she does think we've gone too.

13:59

>> Oh, well, let me word to your mother,

14:02

sister. A lot of people think that.

14:04

Anyways, uh

14:06

[laughter]

14:07

>> we're wokeish. We're woke adjacent.

14:10

>> We're woke adjacent, right?

14:12

>> We wear one Birkenstock. [laughter] Um

14:15

>> we wander around. Listen, this is a

14:17

devastating business problem. They It's

14:20

really bad. It's not good. Um you know,

14:22

this is Look, it's just this is to me,

14:25

they were too arrogant. They were too

14:27

arrogant. They did. They didn't think

14:28

this guy would come to play.

14:30

>> It's gonna media's obsessed with itself.

14:32

They're going to constantly report about

14:34

it.

14:34

>> It's an Come on. It's an interesting

14:36

case. It is interesting. Come. It's all

14:37

the tech people. It's media. It's tech.

14:40

It's Larry Ellison. The satanic looking

14:42

Larry Ellison. It's so much good stuff

14:45

here. Come on. It's a great story. It's

14:46

a great And now you brought in Beth

14:48

Wilkinson, the star litigator.

14:50

>> I hope I'm not going to get him in

14:51

trouble. I had I had uh drinks with the

14:55

guy who runs Warner Brothers movies or

14:56

one of the co-. And he's just like the

14:58

the loveliest guy, this guy Jesse man.

15:00

>> Yeah. They're so

15:01

>> And he's just so nice. And I'm like,

15:02

"What's going on there?" It's like I

15:04

just I just show up and I do my work,

15:06

[laughter] you know? It's just like I

15:08

don't know. I'm just showing up trying

15:09

to find good ideas to turn into movies

15:11

that people want to see.

15:12

>> Yeah. I just I don't know. I don't I

15:14

think I'm going to I'm going to go on a

15:16

limb and say this deal doesn't happen.

15:17

This deal doesn't happen.

15:18

>> But again, it

15:20

>> I'm going to I I don't I agree with you.

15:21

>> You might be right.

15:22

>> I agree with you on the on the market,

15:24

but I don't think that's what it's going

15:26

to get judged on. This judge has already

15:27

signaled that.

15:28

>> No, no, no, no. That I there's no I mean

15:31

>> winning isn't winning. Yeah, but we're

15:33

saying the same thing. This this isn't

15:34

about the legal argument. It's about the

15:36

pro it's about the prospects. It's about

15:39

Oracle stock price, which is directly

15:41

linked to the prospects of Open AI at

15:44

this point. So, if you want to know

15:45

whether this deal is going to close or

15:46

not, tell me what the narrative is in

15:48

the value of Open AI is in 6 months.

15:51

That's it.

15:52

>> We'll see. We'll see if they've got the

15:53

staying power. You Ellison's boy, they

15:56

weren't expecting this, I don't think.

15:57

And also, let me just put in throw in

15:58

one last thing. Guess what's happening

16:00

in November? the midterms. They This

16:03

family does not look good during the

16:04

midterms given all the crap they were

16:06

doing at CBS and all the the statements

16:08

about what they were going to do at CNN.

16:10

They are going to run into a buzzsaw of

16:12

Democrats on top of this like by the

16:14

way. So just all all down and to the

16:18

right. So to the right to the right.

16:19

>> I hope so. I hope you're right. And they

16:21

shouldn't have done the CBS mess. It

16:24

brought ridiculous attention to a very

16:25

small part of its business. It was

16:27

stupid.

16:27

>> I think that's accurate.

16:30

They created smoke where they didn't

16:31

need to, you know,

16:32

>> they could have just let it run quietly

16:34

and then done all their nasty stuff

16:36

later, but they didn't. They couldn't

16:38

resist. Anyway, um the rescheduled White

16:40

House correspondents dinner took place

16:42

Friday. Jesus Christ, this thing.

16:44

Speaking of media, what a story. Three

16:46

months after Gum forced the original

16:48

event to be cut short, Trump opened by

16:50

saying the show must go on in condemning

16:51

political violence. That was good, but

16:53

quickly shifted to an hour of attacks on

16:55

Democrats, celebrities, and journalists.

16:57

many of his jokes falling flat and even

16:59

Republicans didn't think it was good.

17:01

Those attacks include personal jabs at

17:02

CNN's Caitlyn Collins. How dare he?

17:05

Who's accepting an award for her White

17:07

House coverage? Trump was also sat there

17:08

as the Wall Street Journal accepted an

17:10

award for its reporting on his ties to

17:12

Jeffrey Epstein in that famous uh

17:14

birthday greeting thing with the with

17:16

the lady's vagina. Um this I I you know

17:21

how I feel about this correspondence

17:22

dinner. I think it's just repulsive and

17:24

and I had offered to pay for the

17:26

scholarships cuz I hated it so much. But

17:28

I covered it as a young reporter. I

17:30

thought it was terrible 20 years ago. Uh

17:32

this was just bad. And you know, don't

17:35

come for Caitlyn Collins, my friend. I

17:36

thought she acted rather well. Although

17:38

I suspect nobody should have been there

17:40

in the first place, but that's just me.

17:42

>> Well, let's bring this back to me. I

17:43

need your advice. So, this is a picture.

17:45

I'm holding this up for our viewers on

17:47

YouTube.

17:47

>> You and Caitlyn.

17:48

>> This is me and Caitlyn. Notice what

17:49

she's doing here.

17:50

>> Smiling. Smiling. She's smiling.

17:52

>> She's

17:53

>> She's in addition to being a very

17:55

talented journalist, she's also a lovely

17:57

person who smiles when appropriate.

17:58

>> She smiles when appropriate. That's

18:00

correct.

18:00

>> I saw this thing. I mean, the clips are

18:02

everywhere. And I just thought there I

18:05

think about our brand, right? The US

18:07

brand. There are a few things that have

18:08

been worse for the brand than the White

18:09

House Correspondents Dinner.

18:11

>> Never. Yes. The worst. The worst. Well,

18:13

first off, what better marks America

18:15

than an event with our, you know,

18:17

technically our most iconic journalist

18:19

and the president and a mentally ill man

18:21

with guns manages to interrupt the whole

18:24

thing. And then we reschedu it and we

18:27

have this 80-year-old man making the

18:30

creep. This wasn't even about insults.

18:32

It's like this dude is just so [ __ ]

18:34

creepy. creepy. It's like your

18:36

grandfather whose daughtering shows up

18:38

and won't stop talking about his

18:39

grandson's girlfriend in a very

18:41

uncomfortable way. It's like, dude, just

18:44

take your limp dick and just take it

18:47

somewhere else.

18:48

>> It's so the air I don't know the clip

18:52

the the air in that room was like, "Oh,

18:55

[ __ ] God, this is just the worst

18:58

thing." And and let's go macro. The

19:02

White House correspondents dinner is

19:03

like Blockbuster holding an award show

19:05

for who has the best DVD. No one gives a

19:08

[ __ ] It's it's like come on. The

19:12

institutions here there's a theme across

19:14

all of this. The through line is the

19:15

institutions are seeding power to to

19:20

individuals and to individual

19:21

journalists who go on social media. This

19:23

[ __ ] this thing needs to be buried or at

19:26

a minimum don't invite the president.

19:29

This thing just was so awkward.

19:30

>> Exactly. just have a nice dinner with

19:32

your I'm not a big awards person. I hate

19:34

awards. I don't go to them anymore cuz I

19:36

hate I hate them in the first place and

19:37

now I've said, you know, I actually hate

19:38

them. Why am I going? Uh I have I have

19:41

never I've only covered this as a young

19:43

reporter. I never went I've gone to the

19:46

parties. Um but I' I've always found it

19:49

to be this little like haha laugh laugh

19:52

with the cabinet members, whether it's

19:54

Obama people or whether it's um Trump

19:57

people. It's gross. It's gross in a way

19:59

that really makes people hate

20:01

journalists. And that was always my

20:03

issue with it. It's like it's fine for

20:05

those cabinet people to go. It's like

20:07

whatever. They get to like influence

20:08

journalists. But it just dressing up and

20:11

and my issue the whole thing was I knew

20:15

he was going to do this. Everyone knew

20:16

he was going to do this. So what's your

20:18

choice? Not showing up, which I think is

20:20

the best choice. The second one is what

20:23

if walking out in a in a tuxedo a how

20:27

dare you sir look makes you look idiotic

20:30

and sitting there makes you look there's

20:32

no winning for the journalist they

20:33

shouldn't have gone

20:34

>> yeah but yes exactly and that's

20:36

>> they should have gone they should have

20:37

done a nice dinner or something for the

20:39

winners and

20:40

>> and to sit up there and have him like

20:42

hand out an award to the Wall Street

20:44

Journal I'm

20:45

>> the whole thing it's like we have lost

20:48

so much standing globally Everybody has,

20:51

right?

20:52

>> We we we just look like it. Oh, wait.

20:54

They had to reschedule it because a

20:55

mentally ill person with access to

20:57

firearms interrupted it. So, they redid

21:00

the thing and this president had to sit

21:02

there and then make a stupid creepy

21:04

comment.

21:06

It's like how how could we how could we

21:10

damage the brand and just look like a

21:11

more a more strange weird nation than we

21:15

already look?

21:16

>> I agree. and then laughing with him and

21:18

then the incoming president of it Jackie

21:20

Hinrich from Fox like laughed and joked

21:23

it up with him after he did the creepy.

21:25

I mean seriously it's like the whole

21:27

thing is like I don't Jackie I don't

21:29

care if you're at Fox and you're

21:31

conservative. That was gross. That was

21:33

gross from a conservative or a liberal

21:35

point of view and not just Caitlyn like

21:38

and then using Dylan Mulvaney. Oh

21:41

anyway, please don't do this anymore. I

21:43

when I said don't do this anymore after

21:44

the after uh the the shooting I got so

21:48

many like pressed people like Cara

21:49

that's really unfair. I was like go [ __ ]

21:51

yourself. This is [ __ ] We shouldn't

21:53

be doing this. It should be over. Thank

21:55

you very much.

21:56

>> So folks just just in terms of of how

21:58

precious broadcast journalists think

22:00

they are. Podcasts reach exponentially

22:03

more people. Do we have an award show

22:06

giving each other little trophies?

22:08

>> Did we go? We did.

22:09

>> Oh, wait. We got awards. Never mind. I

22:10

take it back.

22:11

>> Yeah, but we don't. It's fun. Like it's

22:12

there's no president there. It was like

22:14

there was the Webbies. We got one at the

22:15

Webbies. That was fun as [ __ ] That was

22:17

a really good party. There was no there

22:19

was no president. There was no There

22:21

were all these cool people there. It was

22:22

fun. I don't And I That's the only one I

22:25

like cuz I think it's an actually fun

22:26

party. But no, mostly no. Right. Do we

22:30

>> um

22:31

>> Did we talk to any?

22:32

>> There's no invite the president. We're

22:34

not going to shake hands with the

22:36

president. That's what we're definitely

22:37

not doing anyway.

22:39

>> Yeah.

22:39

>> Anyway, folks, Caitlyn Collins, we love

22:41

you. You did a great, let me tell you,

22:42

she acted with a lot of dignity. She

22:45

She's a young woman and she acted I

22:47

would have been like slapping him silly,

22:49

but of course, you would have been

22:50

arrested then. But anyway, uh it's it's

22:53

just terrible to put people in that

22:54

situation and they and putting

22:56

themselves in that situation is not the

22:57

best thing either. Anyway, let's go on a

22:59

quick break. When we come back, Meta

23:01

pushes AI optimism.

23:04

Support for this show comes from Delete

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24:13

Scott, we're back. Uh, Meta just

24:15

launched a new campaign and making a

24:17

case for AI optimism with an ad showing

24:19

Meta products as tools for human

24:20

connection. The video is set to David

24:22

Bow's 5 years, which is a song about the

24:24

end of the world. Now, let me be fair.

24:27

Bowie Bowie did say later that he wrote

24:30

it in hopes people would be optimistic.

24:32

Just so you know. Just so you know. I I

24:34

want to correct that. A lot of people

24:35

were like, "It's it was it was about the

24:37

end of the world, but he was hoping to

24:38

turn that around." But let's listen to a

24:41

clip first.

24:42

>> Some people will have you believe AI

24:44

will make us less connected, that it's

24:46

going to leave us behind. We couldn't

24:48

disagree more. Call us optimists.

24:51

[music]

24:52

Call us dreamers.

24:55

Just as we've always done, [music] we're

24:57

betting on people.

24:59

>> Make it stop. [laughter]

25:01

>> Jesus Christ. Make it seriously make it

25:02

stop. Mark Zuckery shared the ad on

25:04

Facebook, writing, "As we enter the next

25:06

wave of AI, we continue to believe the

25:07

future is for everyone. The message

25:09

comes months after Meta told staff it

25:11

was cutting 10% of its workforce and

25:12

scrapping 6,000 open ROS to offset AI

25:15

spending." I would like your marketing.

25:17

Let me just tell you, I'm just telling

25:19

you, this says midterms all over it.

25:22

It's like now we believe in people.

25:24

Before he believed in giving Donald

25:25

Trump money, but now people thoughts,

25:29

marketing professor, put your hat on and

25:31

tell me what works and doesn't work

25:32

here.

25:33

>> I know exactly what's going on here.

25:34

Somebody really attractive who wears

25:36

black has shown up and talk about

25:38

intangible associations and emotion and

25:40

they have so much [ __ ] money. And

25:42

then Mark and the CMO there has

25:44

convinced themselves this was a good

25:45

idea. This goes back to the notion of

25:47

don't these people have friends? I mean,

25:50

Mark, can you can you tell us how

25:51

connecting people fits into

25:54

uh teen girls selfharming or you hiding

25:57

evidence that one in eight uh British

26:00

teens site Instagram as a as a catalyst

26:02

for their mental health. I sat next to

26:05

the woman, you know, Dina Pal, and she

26:06

wrote, she tweeted a thing, and said,

26:09

"It's always been about connecting

26:10

people. Call us optimists." And the only

26:12

thing I could think of was, "Sit down.

26:14

I'm an AI optimist.

26:17

>> You're

26:19

I I mean,

26:21

>> Meta Marketing Professor." Yeah.

26:23

>> Meta's new ad has this incredible soft

26:26

focus family using AI glasses to connect

26:28

more meaningful meaningfully.

26:30

>> Stalker glasses. Yeah.

26:31

>> Yeah. Okay. Nothing says intimacy like a

26:34

$300 pair of glasses beaming your kid's

26:36

birthday party back to a [ __ ] server

26:38

farm so Zuck can serve the moment back

26:40

to you as a Nissan ad.

26:42

>> It's just this is so cynical. They are

26:45

the last people to be talking about

26:47

>> the upside of AI. They're going to

26:50

invite so much criticism.

26:52

>> I don't know who the CMO of Meta is.

26:54

You're a [ __ ] idiot for approving

26:56

this thing.

26:57

>> What would you do here? Because they

26:58

have other ones. They have another uh

27:01

video I saw about data centers. They're

27:03

trying to turn that idea around that it

27:05

does help people, it creates jobs, etc.

27:08

They're they're now moving.

27:09

>> That's a good one. That ad is smart. Uh

27:12

PR and talent just very droid. No

27:14

ethnically ambiguous people pretending

27:16

they're happy wearing these glasses.

27:18

None of that [ __ ] Just communications

27:21

around what is trying to call balls and

27:24

strikes. Their program around vocational

27:26

training and investing in vocational

27:28

training. That is a great program. That

27:30

is great branding. It shouldn't be an

27:32

ad. It should be their PR team, which

27:34

are some of the most talented people in

27:35

the world, getting that that thing

27:38

placed everywhere, but not running ads

27:40

on it. This thing is so t it's going to

27:43

invite so much scrutiny around. Okay,

27:48

this is Jeffrey Dmer running a Jack in

27:51

the Box commercial. It's just you just

27:54

don't do this. you. What are you

27:57

thinking approving an ad saying that

27:59

you're AI optimist and you're

28:01

connecting?

28:01

>> What the hell? They also cursed in it. I

28:03

don't like when they curse in ads. I

28:05

don't like that.

28:05

>> Yeah. So, I don't I find and and I just

28:09

when when Dina and she seemed like a

28:11

lovely woman and she put out the ad. I

28:13

just the first thing I thought of I

28:14

can't do this cuz she's friends with

28:15

Care. I thought sit down. You're the

28:17

last people that you should be claiming

28:19

that you're AI. What do you do if you're

28:21

trying to get back the you know look I'm

28:23

telling you this is so motivated by

28:25

what's coming in in November and the and

28:27

the payback.

28:28

>> What do you mean by that? Same

28:30

>> because I think they're all like let me

28:31

just tell you I there isn't a tech

28:33

company that suddenly hasn't hey girlled

28:35

me recently. All of them. All of them.

28:38

They're like Carara we haven't talked in

28:40

a while like after the Trump thing. Cuz

28:43

I'm like you [ __ ] for like throwing

28:45

in with Trump you corrupt pieces of

28:46

[ __ ] like essentially. And now they're

28:49

like, "We need to talk cuz we believe in

28:51

safety. Like I'm getting a lot of

28:52

safety. We should have a meeting. You

28:55

know, what you've been saying has really

28:56

resonated with us. Like what you're

28:58

saying about like corruption." I was

29:00

like, "Uh, aren't you paying the

29:02

bribes?" Like it's really I just feel

29:04

like there's an understanding that

29:06

there's going to be payback right now.

29:08

That's one. Two, what would you do? Like

29:11

at some point, like I know people hate

29:13

when I say this, but you know, how do

29:15

you turn it around? But is there a world

29:17

in which Mark Zuckerberg could do

29:18

something to not seem like so

29:21

villainous? Or maybe not. Maybe not. I

29:23

don't know. I mean, I recall when Gates

29:25

was villainous and then until the

29:27

Epstein stuff, he was nonvillainous,

29:30

right? So, what does he what do they

29:32

have to do to get what would you what

29:34

would the ad that you would do here?

29:36

Let's help them. Let's help them in

29:37

their thing. Say they're genuinely

29:39

saying we made a mistake. We want back

29:42

into humanity. What would you or they

29:44

can't be or they can't come in back at

29:46

Tanny because they're doing all this

29:48

other damage. I

29:49

>> I hate to say it, but it's a Ruber

29:50

Murdoch brand strategy. Rupert just owns

29:52

it. He's like, I am who I am. I work

29:54

behind the scenes. He doesn't run ads

29:56

trying to make the Murdochs more

29:57

likable. He doesn't run ads trying to

30:00

say Fox, we're good for America.

30:02

>> Well, there was fair and balanced if you

30:03

recall for a minute.

30:04

>> Okay. But they just quite frankly, they

30:06

just they just own it. And the reality

30:09

is is that the Zuckerberg brand and the

30:11

Meta brand is for the most part a very

30:14

strong brand for the following reason.

30:17

America has opted for shareholder value

30:19

over competence and the well-being of

30:21

the Commonwealth. We really respect and

30:24

admire a company that's able to create

30:26

this sort of shareholder value. Their

30:28

products are amazing. I I hate to admit

30:32

this. I am addicted to Instagram reels.

30:35

I think it is incredible. I think it's

30:38

incredible.

30:39

>> Yeah, I like as you know

30:41

>> their performance, their shareholder

30:43

returns, the fact that they have they

30:45

hire a ton of talented people and create

30:47

economic security for them. The fact

30:49

that housing prices are up 28% large

30:53

part because Meta is making so many

30:54

people wealthy. A lot of people have

30:56

registered enormous shareholder gains.

30:59

Do your thing. Go on background. Try and

31:02

defend yourself. Fine. this I think the

31:04

vocational investment I think it's $150

31:06

million is absolutely genius but having

31:10

an ad where the tagline is presence

31:13

reimagined that to me feels like them

31:16

saying we already have your face your

31:18

friends and your location now we'd like

31:20

to own your depth perception I mean I

31:23

don't want they should not bring

31:25

attention

31:26

>> they have a they have a need to be liked

31:29

they do you know

31:30

>> shouldn't be running these ads

31:31

>> yeah they have a need to like we're not

31:33

villain

31:34

And I don't know what they could do. I

31:36

mean, do you know admit to some of their

31:39

big problems? Admit to it if they want

31:41

to be liked. Like that's what I mean. If

31:43

I think wanting to be liked is part of

31:45

this. And look at like look at that

31:47

interview Elon did with uh with the

31:49

financial with the um

31:50

>> economist

31:51

>> the economist uh Betos.

31:54

>> They feel like they're misunderstood and

31:55

they only have a chance.

31:56

>> Shut the [ __ ] I kept thinking stop

31:58

talking. You are like, you know, and

32:01

she's so adept. She's amazing. And I was

32:04

like, "Stop talking. Oh my god." Like,

32:06

"Stop talking." At some point, I was

32:08

like wanting to get him off the stage

32:10

cuz I thought he doesn't even know how

32:12

awful he is. Right. And I think in in

32:14

the case of Meta, I think they do want

32:16

they do understand there's a a shift

32:18

happening, a vibe shift rather

32:20

significant. And they're trying to

32:22

figure out how to be liked again. I'm

32:24

not so sure they're ever going to be

32:25

liked. I think you're right. I don't I

32:27

don't know.

32:27

>> The advice the advice is the same. They

32:30

should take the advice from Albert

32:32

Brooks to William Hurt. When William

32:35

Hurt says, "What happens when your

32:37

reality exceeds your wildest dreams?"

32:38

And Albert Brooks says, "Keep it to

32:40

yourself."

32:41

>> Keep it to yourself.

32:42

>> They should just continue to perform,

32:43

continue to add shareholder value, go on

32:46

background when they feel they being

32:47

treated unfairly. But to run this like

32:50

sugary ad of we're here to connect

32:52

people. No, you're not. That's not your

32:55

aim. That's not what you're trying to do

32:58

here. They should just put wins on the

32:59

board on things they can put wins on the

33:01

board in like helping people get jobs

33:04

maybe giving money to like well you see

33:06

teen girls like they we don't want their

33:08

money right like you're the ones that

33:11

cause the problem or well part of the

33:12

problem not all of it but

33:14

>> their economic growth economic engine

33:16

incredible products incredible

33:17

shareholder value I personally think it

33:20

would be a good move at this point for

33:21

these guys to self- agegate say we're

33:23

not letting anyone onto the platform

33:25

under the age of 16

33:26

>> I think they're going to do that I think

33:27

they're going to Uh they're going to do

33:28

it the night before it's about to pass

33:29

in Congress is when they'll do it.

33:31

>> I think they're going to move into that

33:32

space, I think. But then there's the the

33:34

beef with Apple and Google over that.

33:36

Who who decides age verification? That's

33:38

another fight, by the way. And Apple and

33:40

Google aren't distinguishing themselves

33:41

in that fight either. Anyway, it's a

33:43

really it was not a great ad. It's not

33:45

stick with the simple ads. We're

33:47

providing jobs. We care about people's,

33:50

you know, we're going to help this. You

33:52

know, it's interesting because Mark does

33:54

switch between I want to be liked and

33:55

[ __ ] you. And I I think [ __ ] you is

33:58

probably where he mostly lives. Um, and

34:01

he must he has to become comfortable in

34:03

that spot, but I don't think he is.

34:05

>> I felt like I felt like, okay, them

34:07

spending $100 million

34:09

to try and say we're likable and we're

34:11

cool again is like your uncle showing up

34:13

with a Ferrari to convince everyone he

34:15

doesn't miss his ex. It's just it

34:18

doesn't ring true.

34:19

>> I don't know.

34:21

>> They're trying to make surveillance

34:22

capitalism seem aspirational.

34:26

creepy glasses or like lean into the

34:28

creepy glasses or something like I just

34:30

it's really interesting and I think

34:32

they're going to I I think ultimately

34:34

he's going to have to live with the fact

34:36

and this movie is coming out the social

34:37

reckoning um which I think is not going

34:40

to look make him look very good.

34:41

>> I I I I can't I just hope a lot of the

34:44

creators do like what if ads were honest

34:46

because this would be we're bringing

34:48

people together usually to sell them

34:50

creatine that they talked about with an

34:51

earshot of a phone. I mean that would be

34:53

the real ad, right?

34:55

>> [laughter]

34:55

>> or to suggest or to suggest innovative

34:58

ways of self harm or how 90 lbs and 510

35:01

is normal. That's how we're bringing

35:04

people together.

35:04

>> That's not funny. That's why am I

35:06

laughing? That's not funny. Um, you know

35:07

what they should do is you don't like

35:09

us. We know. But we have some good

35:11

stuff. Like we're not the we're not What

35:14

can we say? We're not Elon Musk. We're

35:17

not Elon Musk.

35:18

>> We're bringing people together by

35:20

elevating your aunt's conspiracy

35:22

theories. [laughter] I mean, I just I

35:25

can't wait

35:26

for for

35:28

>> We should go in there and do a

35:29

presentation. [laughter]

35:31

>> I think we're not Elon Musk is their

35:33

best argument. So, just anyway, I I to

35:35

be fair, the song is fine. I know people

35:37

made a big thing of it. Actually, he was

35:39

talking about a better future in that

35:41

song, too. Oh, wait. I got another one.

35:42

>> If you have to explain your joke, it's

35:44

not funny.

35:44

>> I got another one.

35:46

>> We're meta, where you found your college

35:47

roommate. Now it's where you share your

35:50

roommate's dad's post that Michelle

35:51

Obama is secretly a linebacker.

35:54

[laughter]

35:56

I mean I I bring me in. Bring [laughter]

35:59

me in, coach.

36:00

>> Let's go in there.

36:01

>> I'm ready.

36:02

>> Let's go and help them. Let's help them.

36:04

They should have a sense of humor. That

36:05

is one thing Mark has not had enough of

36:07

is a sense of humor. He does not

36:08

[laughter] have

36:11

>> He's not going to laugh at

36:13

I tried. Meta, we're going to try and

36:15

sell you something you searched about at

36:16

2 a.m. 6 months ago. [laughter]

36:20

>> Okay, stop. All right, we're moving on.

36:22

Um, this Trump administration, moving

36:24

on. Sorry, Mark. We apologize. Not

36:26

really.

36:26

>> I got one more. Based on my feed, the

36:30

future is AI generated Jesus holding six

36:34

puppies while giving away free RVs.

36:37

[panting]

36:40

Literally, Meta, if you have any sense

36:42

of humor, you will run my ads.

36:44

[laughter] You will run I should do this

36:46

on AI. Can't you create ads using AI

36:48

now? Maybe.

36:49

>> Yeah. Yeah. How about How about Meta

36:52

[ __ ] election?

36:52

>> I should start a podcast on ads for

36:54

meta.

36:55

>> I've got one meta [ __ ] elections

36:58

since 2006.

36:59

>> There you go.

37:00

>> Nice. Anyway, um all right, moving on.

37:03

Donald Trump says administration is

37:04

launching a trade investigation into

37:06

European Union after it hit Google with

37:08

a $1 billion antitrust fine. In a true

37:10

social post, Trump accused the EU of

37:12

robbing American tech companies. Trump

37:14

claimed the latest fine was issued

37:16

without explanation, even though the EU

37:18

regulators said it stem from failure to

37:19

comply with the Digital Markets Act,

37:21

which we've known about for a long time.

37:22

Regardless, Trump said the US is not a

37:24

piggy bank for Europe and is threatening

37:25

to hit the EU with substantial tariffs.

37:28

his usual go-to is his tariffs because

37:31

those just expired and he's trying all

37:32

manner of ways to put new tariffs on.

37:35

Um, you know, listen, Obama

37:39

released a similar thing at the time of

37:41

the original digital markets act and the

37:43

other act. Um, so I, you know, a lot of

37:46

presidents do this, but a bill, you

37:48

know, the tariff way, he never did

37:50

anything about it. He compl Obama

37:51

complained about it as I recall, but um,

37:54

and was defending US tech companies, but

37:56

thoughts on this? I'm so exhausted by

37:58

all of it because I have trouble

38:00

understanding it. And usually the stuff

38:01

that's boring is the important stuff. So

38:06

look, I the two decisions

38:09

uh half a billion fine for

38:11

self-preferencing its own search. I I I

38:15

the EU has essentially become the de

38:17

facto regulator for American tech

38:19

because America won't do it itself. So

38:21

I'm a little bit I'm I'm of two minds

38:23

here. And that is when the primary form

38:26

of tech innovation coming out of the EU

38:28

is regulation. That's not a great sign.

38:30

It it it reflects poorly on both of us.

38:32

Quite frankly, I I don't have a lot to

38:35

say here. Cara, what are your thoughts?

38:36

By the way, the new I do have the new

38:39

meta tagline, though. We're not the same

38:41

Facebook that ruined Thanksgiving.

38:43

[laughter]

38:46

>> This time, [gasps] we won't drink this

38:49

time. We [laughter] promise not to

38:51

drink. I I got I got a new job as an

38:53

agency. I'm literally starting the new

38:55

meta agency. Whether they like it or

38:57

not, I'm the new brought us in. Bring us

38:59

in, Mark. Bring us in. We can help you.

39:02

>> Put us in.

39:03

>> Put us in. Put us in. Pay us enormous

39:05

amounts of money to insult you. Um

39:07

>> Meta, we're not just ruining

39:09

Thanksgiving anymore.

39:10

>> Yeah. [laughter]

39:13

>> If you thought If you thought your drunk

39:15

uncle practicing karate at Thanksgiving

39:17

was creepy, wait till you see what the

39:18

algorithm is going to feed you.

39:20

>> All right. I'm going to very quickly

39:21

dispense of this and I'm going to say

39:22

one thing. Let me just tell you Meta,

39:24

you really should have a sin. You should

39:26

100% have it. That would show you

39:29

understand the problem that you have. I

39:31

think it would be really good.

39:32

>> You know how you get your hey girls? You

39:34

know what I get? I don't get hey girl. I

39:36

get hey,

39:38

and by the way, they don't call me.

39:39

Their PR represent their comms person

39:41

who shouts them go hey so and so is

39:43

going to be in town. Would love to grab

39:45

a drink with you. Everyone thinks that

39:48

if anyone offering me a drink, I'm

39:50

there.

39:51

>> Yes, he is. He shows up.

39:53

>> They're literally like he's an alcoholic

39:56

[laughter] and invite him out for

39:57

drinks. I'm like the less the less

39:59

intelligent Christopher Hitchens.

40:01

>> I'll tell you what I do when I get the

40:02

Hey Girls. I go because I'm like, okay,

40:04

sure. I'm happy to re-engage with him

40:06

given I was accurate. No, I want to find

40:09

[ __ ] out.

40:10

>> You see this picture of me and Kaitlin

40:11

Collins?

40:12

>> I [laughter] see that.

40:14

>> I love that.

40:15

This is my credibility right here.

40:16

>> She works hard. I really like hitting

40:19

calls. All right, with the the the EU

40:21

thing. This has been going on forever.

40:23

We don't do any regulation. They may be

40:25

guilty of doing too much, but too bad

40:28

y'all knew the fines that were going to

40:30

be here. Do something about our tech

40:32

industry in a way that satisfies

40:34

European regulators. And if you want to

40:36

operate there, you live by their rules.

40:38

I'm sorry. Like, and and the Trump Trump

40:40

can complain about it, but hitting with

40:41

tariffs, his old trick, is ridiculous.

40:44

Tariffs are bad for the economy. They

40:46

cause inflation. They're stupid. They're

40:48

a stupid way to hit back and it's not

40:50

going to work. So, it doesn't matter.

40:51

So, it does I think it's just a wash in

40:53

that regard. Um, Remeta, uh, you can

40:56

keep making jokes all the rest of the

40:58

show. All right, let's go on a quick

41:00

break. When we come back, the FDA

41:01

loosens restrictions on peptides. Oo,

41:03

something to Scott likes to talk about.

41:05

We'll talk about what happens next.

41:06

Scott, we're back and talking about the

41:08

latest buzzword in wellness, peptides.

41:10

I'm so tired of hearing about peptides

41:12

from people after my show. People take

41:14

them for everything from weight loss to

41:15

anti-aging to muscle growth. They're the

41:17

miracle drug. By the way, GLP1s are

41:19

peptides. Right now, people are getting

41:20

on these uh so-called gray market online

41:23

through longevity clinics, even Tik Tok

41:25

outside of the FDA approval process. But

41:27

last week, a panel of doctors and

41:29

pharmacists, all of whom are in the

41:31

tank, voted to recommend the FDA ease

41:34

access to several peptides that are

41:35

popular with influencers, celebrities,

41:37

and RFK Jr. That's in spite of

41:39

government scientists warning about the

41:40

lack of data showing these drugs are

41:42

safe or effective. It's like nuts. Um

41:45

the FDA isn't saying the drugs are

41:47

dangerous. They're saying they don't

41:48

have enough information which uh which

41:50

they should get and not maybe not a good

41:53

enough reason to restrict access but

41:54

approval would benefit teleaalth

41:56

companies, compounding pharmacies and

41:58

frankly RFK's agenda. Um, I I will say

42:02

one quick thing since I I didn't cover

42:03

them in my show, but I I there's the

42:06

gray market is so dangerous and you

42:07

could they are mostly made in China.

42:10

It's a very dangerous thing to be

42:11

putting in your body and there still are

42:13

very unclear studies on whether these

42:14

things work and there should be, by the

42:16

way, there should be studies um paid for

42:19

by the government that which we used to

42:20

fund these scientists to do these

42:22

things. But just letting them out there

42:24

among the people is such a mistake if we

42:26

don't have and I understand slowing

42:29

things down is a problem. But sometimes

42:31

it's for the best and these things can

42:32

be very very dangerous without um in

42:36

terms of where they're coming from and

42:37

the the whether they're they're safe for

42:39

use. Scott, go ahead. Peptides.

42:42

>> Well, peptides an overused term. GLP1 is

42:44

a peptide and my understanding is

42:45

peptides just a series of molecules. The

42:48

I agree with you that the again it's the

42:51

same through line. It's a lack of trust

42:52

in our institutions. We used to trust

42:54

our institutions to tell us what we

42:55

should put into our body or what we

42:57

shouldn't or that we had a smart FDA or

42:59

a smart CDC that would help protect us.

43:02

I had dinner uh with two um actors on

43:06

when was it Thursday I think or

43:08

Saturday. Anyways, and they're both on

43:10

this Wolverine stack peptide. And I like

43:14

this stuff. I like I take supplements.

43:17

I'm on testosterone therapy. I was doing

43:19

NAD for a while. I'm abs I like to be

43:22

out I I do believe there's something to

43:24

this stuff but I I wait till there's a

43:26

decent amount I guess NAD is the most

43:29

and and I also do creatine creatine but

43:33

I as someone who does a decent amount of

43:35

research the peptide jury is not in uh

43:39

or these peptides I should say

43:41

>> GLP1 they are they or they're getting

43:43

there

43:43

>> oh GLP1 is it's FDA approved I mean most

43:47

many of these GLP1s are FDA approved and

43:49

by the way every piece of research that

43:50

comes comes out the externalities are

43:52

positive which is the most unique thing

43:53

>> and we're getting real time data with

43:55

people using them usually they're now

43:57

done by doctors much more so than at the

43:59

beginning but go ahead

44:01

>> oh by the way the same ad agency that's

44:02

helping Meta is rebranding Marlro as a

44:05

wellness startup just so you know um

44:08

[laughter]

44:09

anyway so finish your thought your

44:11

peptide thought

44:12

>> I I again I think it's this people

44:15

deciding to do their own medical

44:17

research and come to their own

44:18

conclusions because an influencer tells

44:21

that you know Leo is on this thing and I

44:24

actually I don't know if he is or isn't.

44:25

>> Right. Right. Yeah.

44:26

>> And point

44:27

>> I do think there's something all the

44:29

stuff I've done I have never done it

44:31

without medical supervision meaning my I

44:34

I I have my blood drawn all the time now

44:37

and I do all these crazy analyses of it

44:39

and they'll say you are low on these

44:41

omegas take fish oils. Fine. you know,

44:45

uh,

44:47

I'm I'm a fan of intervention and being

44:49

thoughtful about about plusing up the

44:52

gaps in your nutrition or whatever it

44:53

might be, especially as you get older.

44:55

And I'm I'm my view is between the ages

44:58

of 20 and 50, your body's pretty goddamn

45:01

good at figuring out what it needs.

45:03

Unfortunately, it starts to die because

45:04

the majority of us are supposed to be

45:06

dead by now. So, some intervention, I

45:08

think, makes sense. This stuff feels

45:11

cutting edge to the point of buyer

45:13

beware. Yeah, I would agree. I have a

45:15

lot of people that are like, "It works."

45:16

I'm like, "Does it? Do you know? Do you

45:18

know there's there are studies?" I'm

45:20

like, "Actually, no. No, there are like

45:22

they're not they're very inconclusive

45:23

and where they're where my most my worry

45:26

about them." And they should be studied.

45:28

Absolutely.

45:30

Is where they're coming from and where

45:32

you're getting those things. And you

45:33

wouldn't like it's sort of like getting

45:34

like here's some milk from a guy on the

45:37

corner. Like it might be good, it might

45:39

be bad. And so a lot of it does come

45:41

from China, especially these compounding

45:43

agencies. And there are no strictures on

45:45

how they are. It's like eating poop

45:46

lettuce. Like you might have a good

45:48

meal, you might have di exploding

45:50

diarrhea. And it it's it's I just it's

45:53

too dangerous to do it. But everybody

45:55

every I get so yelled at. That's the one

45:56

thing with peptides. And I'm like, I'm

45:58

sorry. I wish it I it would be great if

46:00

they worked the way they say. They also

46:02

are ascribing far too many like it's

46:04

it's a solution for everything, which is

46:07

all these supplements. They're not.

46:09

Sometimes they're a very small little

46:11

addition to your life. Sometimes like

46:13

GLP1s, they are truly groundbreaking. Um

46:16

but they they to say they do everything

46:19

is just unproven and you have to stop

46:21

pretending so. Um uh so you know, every

46:26

person who comes up to me, I'm sorry,

46:28

you're incorrect, but and you shouldn't

46:29

be putting things like this in your body

46:31

uh without medical supervision or or

46:33

scientific proof. Uh sorry, I'm I'm on

46:36

the scientific proof. Anyway, uh, that's

46:38

the way it is. That's the way it is. Um,

46:40

but you know, meta now with more

46:42

peptides. All right, Scott, one more

46:43

question.

46:44

>> Hold on, hold on.

46:45

>> New tagline. Facebook, where a nuance

46:48

goes to get beaten to death with a

46:49

folding chair? [laughter]

46:53

>> Oh, I feel so bad.

46:54

>> But isn't literally Isn't this ad,

46:56

>> God? Isn't essentially this ad just the

46:58

the broadcast embodiment of an abusive

47:03

ex-husband Zuckerberg seeing you and

47:05

whispering in your ear, maybe changed.

47:07

>> Maybe I've changed.

47:08

>> Maybe I've changed.

47:09

>> I've changed. Here's the thing. Why

47:10

don't our listeners write in their

47:12

taglines for Metaf to help them?

47:14

>> Well, it's also, you know, what's

47:15

disingenuous as a as a brand guy? These

47:18

ads. These ads are absolutely beautiful,

47:22

but the thing is their actual product in

47:26

terms of design, it feels like

47:27

Craigslist [ __ ] Qannon. It's like

47:29

[laughter]

47:31

Qan on Qanon. Qan on

47:34

>> Baby, I've changed.

47:36

>> Baby, I've changed. I'm a new man. Baby,

47:39

I've changed. Take me back, baby. I just

47:41

love you so much. You forced me to hit

47:43

you. [laughter] I just love you so much.

47:46

>> We should not be laughing at that. It

47:48

is.

47:49

>> No, that's terrible.

47:50

>> You're terrible.

47:50

>> Terrible.

47:51

>> You're terrible. We're terrible.

47:53

>> Anyway, I'm sure we'll get lots of

47:54

letters. Anyway, why don't you all write

47:56

in and tell us what you think the

47:57

taglines for Meta should be and then we

47:59

will we will read them. Um, anyway, see

48:01

if you can do better than Scott, who

48:03

just doesn't seem to stop. All right,

48:04

guys. Look at him. The marketer in him

48:06

is just energized. All right, one more

48:09

quick break. We'll be back for wins and

48:11

fails. Okay, Scott, let's hear some wins

48:13

and fails. I think I'll go first. I I

48:16

first fail was the story came out on the

48:18

post which I was th post some the post

48:21

news side is doing a great job I have to

48:23

say um the police vetted this is a

48:25

headline police vetted dubious

48:27

allegation only after Buddha judge was

48:29

separated from children the people this

48:31

is the Pete Buddha judge kids were taken

48:34

away from him for a time and questioned

48:35

in a really un terrible way by by

48:38

authorities they were investigating um

48:42

these allegations made and the cabinet,

48:45

the former cabinet secretaries was

48:47

separated from his four-year-old twins.

48:49

Um, and now the mission attorney general

48:51

is investigating how the accusation

48:54

led to it. And it turns out the post

48:57

talked to the woman who did it and she

48:59

seems unhinged

49:01

um from what I can tell from the

49:02

interview and didn't really understand

49:04

it and basically I think made it up and

49:07

nobody was check like the I think it

49:09

started in Indiana and then he was

49:11

supposed to be in Alabama but none of

49:13

the authorities before they took the

49:14

kids away checked on the source of the

49:17

information. I I I have said this again

49:20

and again. uh uh Chaston and Pete should

49:24

sue these people for what they did and

49:27

and the damage is done to their kids

49:29

like unnecessarily without any checking

49:33

because of these ideas around gay

49:35

parenting where which you know was part

49:37

of it because this woman is essentially

49:39

did not think gay gay people should be

49:41

parents um from what I can tell from

49:44

this interview and I have to say it's

49:46

just it's it's mindboggling that our

49:49

author they I get it one crazy lady's

49:51

going make some allegations. That

49:53

happens all the time in this world now.

49:55

That fact that the police and others

49:57

didn't vet it is really it's just such a

50:00

incredible indictment of mission

50:02

authorities. So I just it's such a fail.

50:04

Such a massive enormous

50:07

repulsive fail I have to say. Um and my

50:10

win is is I have to this beautiful show

50:13

this cat's jellical ball. It's closing

50:14

soon. I recommend people go see it. Just

50:17

beautiful. It's so kind and and human

50:20

forward. speaking of something that is

50:21

human forward um and funny and just just

50:25

everything Broadway is great at and I

50:27

just uh Clara dressed herself up in this

50:30

beautiful spangled fierce dress and this

50:32

wonderful fascinator hat and it was just

50:35

a wonderful thing. So, um, I just love

50:37

when people are out at the theater and

50:40

in theater in movie theaters and things

50:41

like that. And so, I can't recommend

50:43

these lovely, joyful, beautiful,

50:45

artistic, human centered stuff that's

50:48

coming out lately. And it's really, it

50:49

does there seems to be a shift where

50:51

people just want to get together or else

50:53

celebrate real humanity, not in meta

50:56

ads, but in that way. So, I would I

50:58

would say get out and do something with

51:00

a lot of people and have some fun. All

51:02

right, that's my win. Uh, well, my loss

51:04

is the White House correspondents

51:06

dinner. It should be cancelled or they

51:08

should they need to reinvent it. It's

51:12

It was the one I built to fake a truce

51:15

and it couldn't hold for two hours or it

51:16

hasn't been able to hold for 2 hours.

51:19

And the the tell here was during this

51:21

ridiculous, weird, creepy rant on a on

51:25

respected journalist, the whole room

51:26

just went so silent. It felt like you

51:28

could cut the air with just ick and uh

51:32

terrible terrible for our brand.

51:34

Anyways, we covered that. That's my

51:35

loss. White House correspondents dinner.

51:37

Whoever the governing organization is

51:38

has to realize like this is over. It it

51:41

should be cancelceled or not done for a

51:42

couple years and they need to reinvent

51:44

something else. My win is

51:48

it's not getting very much coverage, but

51:50

what's gotten a decent amount of

51:51

coverage is is Ukraine with their

51:54

incredible supply chain and drone and AI

51:57

technology has been going after oil

51:58

infrastructure.

52:00

What they've done, which I thought was

52:02

genius, is they've gone after something

52:04

that is hit

52:06

Russia perhaps even harder and that it

52:09

was they blew up the Wild Berries

52:11

factory and it ends up basically

52:13

Wildberries is the Amazon of Russia. And

52:16

this supposedly has caused more rage

52:18

about the war than a million deaths and

52:20

casualties because the reality is the

52:22

majority of the soldiers and the

52:23

fatalities have are uh that that toll on

52:27

families has been levied against kids

52:29

and families from lack of a better term

52:32

rural Russia and the the the elites

52:35

don't really care. But you start [ __ ]

52:37

you start [ __ ] with their ability to

52:39

sell their fashion into people in St.

52:42

Petersburg. supposedly this has just

52:44

outraged all these creators and all

52:46

these small business people and also has

52:48

had an impact on the front lines cuz a

52:50

lot of people were buying kind of basic

52:52

military equipment and gear and I

52:54

thought it was just so um interesting

52:57

>> and Putin's on the run it looks like he

52:59

looks like he's hiding away too at the

53:01

same time

53:02

>> people well a supposedly he's paranoid

53:05

and b he's very he's very scared um u

53:10

but this is

53:15

this is so I thought this was so

53:17

interesting. They want what are they

53:19

doing? They're saying, "Okay, we've

53:21

shown we can kill a thousand people a

53:23

day. Russians don't seem to care." The

53:26

Russia's arguably Russia's core

53:28

competence. It's it's an incredibly

53:30

educated populace, an incredible

53:32

incredible appreciation for culture in

53:34

the arts and technology. a lot of very

53:36

redeeming qualities about the about

53:38

Russian culture. But their core

53:40

competence, quite frankly, is they're

53:42

willing to endure more suffering than

53:43

any than any society in history. We lost

53:47

400,000 people in World War II. They

53:49

lost 20 million. And they were ready to

53:51

keep fighting. And but what they've said

53:54

is, "Okay, we're going to hit you where

53:56

we think it hurts most for you, and that

53:58

is going after your ability to order

54:01

[ __ ] overnight."

54:02

And I thought it was just such genius

54:04

there. And I think Ukraine is not only

54:07

showing I mean they're they're

54:08

essentially they've said okay we're

54:10

bringing the war to you and it's just

54:12

interesting how they've decided to bring

54:15

it to the Russian populace. Uh so

54:19

instant visible pain versus sanctions

54:22

kind of year-long

54:24

you know year-long impact if you will or

54:27

yearslong impact. I thought it was very

54:29

innovative.

54:29

>> You know this would happen. This would

54:30

be like if we we declared war on Canada.

54:33

they would get us eventually. You know

54:35

what I mean? Like they're right right

54:36

next to each other. They've proven very

54:39

um strong. Although there's, you know,

54:42

there's been some back and forth with he

54:43

fired fired one guy one guy and then

54:48

everyone got mad about that and then he

54:50

ended up firing another defense minister

54:51

in Ukraine. There's a little bit of back

54:53

and forth there. But can I note

54:55

something else that he was doing that I

54:56

thought was rather clever. So he's now

54:58

going to the MAGA right to talk to

55:00

people. Did you see Laura Loomer who was

55:02

so anti- Ukraine and pro Putin went

55:05

there and interviewed him is suddenly

55:06

his biggest follower like he's so great

55:10

kind of thing. I think that's also very

55:11

clever. His even though he has his own

55:13

issues internally with corruption and

55:15

everything else. He's been very adept at

55:17

also appealing to the MAGA base here

55:19

which I think is probably very smart.

55:21

>> Yeah, it's a I mean you got mixed

55:24

emotions. You're like why why should

55:25

anyone care what Laura Loomer thinks?

55:27

But at the same time, anything that gets

55:29

pressed that highlights

55:31

>> even the crazies have recognized that

55:33

it's in our best interest to support

55:34

Ukraine, I'm I'm here for.

55:36

>> Yeah.

55:36

>> So, yeah, have at it, Laura. And next,

55:39

May maybe next you can do a segment on

55:41

how the greatest innovation in history

55:43

is vaccines. That's the one I'm waiting

55:45

for.

55:45

>> She suddenly is going to be pro vaccine.

55:47

Anyway, um those are those are good

55:49

ones. Those are excellent ones. Oh, by

55:50

the way, I have one more quick win.

55:51

Everybody go see Ride or Die with

55:53

Octavia Spencer and Hannah Wattingham.

55:55

Oh my god. It's It's a show on Amazon

55:58

and it's hysterical. It's two ladies.

56:01

It's so ridiculously It's such a

56:03

ridiculous conceit that they run around

56:05

and they're spies. But these two

56:07

couldn't be the be best pair and they

56:10

look so different and they're so

56:12

different in general. And I have to say

56:14

it's hysterical. Ride or die.

56:15

>> It's called Ride or Die.

56:16

>> Ride or die. And I love Hannah and I

56:18

love I love Octavia.

56:20

>> Is Hannah from Hacks? Is that the Hannah

56:21

from Hacks?

56:22

>> It's Hannah from Ted Lasso. Um, and

56:25

she's amazing. She's amazing. She's I

56:27

love her. I love her.

56:27

>> Oh, the one the Hannah that was in Game

56:29

of Thrones.

56:30

>> The Yes, she was in Game of Thrones,

56:32

too. Yes, that's right. Yeah, she's

56:33

amazing. She's a tall [clears throat]

56:34

drink of water. And Olivia is just

56:37

Octavia, excuse me, is incredible, too.

56:40

Just incredible. Just incredible. Go see

56:41

it if you want to enjoy yourself all all

56:43

day long and twice on Sunday. Uh, you'd

56:46

like it, Scott. Anyway, we want to hear

56:48

from you. Send us your questions about

56:49

business tech or whatever's on your

56:50

mind. can go to nymag.com/pivot

56:52

to submit a question for the show or

56:54

call 85551 pivot. Elsewhere in the Cara

56:57

and Scott universe, this week on On, I'm

56:58

talking to actor and comedian Jeff

57:00

Hiller. He's in two of the buzziest TV

57:02

shows of the last year, Plurabus, where

57:04

he just got an Emmy nomination for a

57:06

just a guest role. He's amazing in it.

57:08

And Widow's Bay. He talked about why

57:10

people are drawn to these shows. Let's

57:12

listen to a clip. These are dark worlds,

57:15

but but it's not it's not like our dark

57:19

world, [laughter]

57:20

you know? It's it's um it's like we can

57:23

figure it out. We can pull it pull apart

57:25

the the lore and and and figure out this

57:29

mystery, whereas we don't have that kind

57:31

of control in our in our own life

57:33

because there's there's I mean, every

57:35

time he opened the New York Times, it's

57:36

like what that happened. Anyway, he's a

57:39

really great guy. He's he's a he's a

57:41

sort of a character actor and I love

57:43

charact There's so many great character

57:44

actors in all these shows including and

57:46

also Severant same thing. Um just really

57:48

like nice to see all these shows do so

57:50

well and he's terrific. Uh okay that's

57:52

the show. Thanks for listening to Pivot

57:54

and be sure to like and subscribe to our

57:56

YouTube channel. will be back on Friday.

58:02

[music]

Interactive Summary

In this episode of Pivot, hosts Cara Swisher and Scott Galloway discuss the ongoing legal battles surrounding the Paramount-Skydance merger and the broader implications for legacy media. They explore the influence of tech giants like YouTube and Netflix, and how political pressures and potential antitrust actions are affecting market confidence. The conversation also covers Meta's controversial new AI optimism advertising campaign, which the hosts critique as being out of touch and hypocritical. Finally, they touch upon the White House Correspondents' Dinner, debates over peptide supplements, and share their 'wins and fails' of the week, including geopolitical updates regarding Ukraine and recommendations for entertainment.

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