Episode Transcription

Made for robots, by robots. Only read if you're weird

A man what's up, have you ever heard of black rock black rock yeah? I think it's called a city in right. What is it call? What is that? One is a Cinian o city and that's right, yeah, no, it's not yeah. They sell it as like a fir for a what of reason. It's the really expensive thing at the gift shop yeah, because it's cool it sounds cool upsettings sounds it sounds valuable yeah. It's O name, my kid of citium. I want you to know that you sound vinerable to me. That's my child, that's IT Yeah! I just want you to know you sound up sition and then this is your brother Absurda. Who is an absolute brontean absurd an I welcome the job, a juice subsidia of black rock. He talks about the power of sobbing, I think the well. We were talking about. Why? Don't we hear reports that our money is just flying over the Pacific North West? I'm just not about apple bees, no to which someone you know supersition Ed. Instead, are you in trouble things when I'm sertin sounds like what you would call a comedian? You know if you were like you know, Lek, look this guy's an absurd and okay. Black Rock is a ABSURDI in sent. Okay, Black Rock is what black rock is and is a firm okay investment, firm, yeah they're, an investment firm. Okay, I was going to say they sound like a sketchy company, the wall they yeah. It's I I was like it sounds like a technology company that like went sideways or something but like Black Mirror. Yeah Black Rock is an investment company, Ye that did some sketchy stuff, yeah they're, an investment firm, that's the largest in the world and you've never heard of them on reason for it, because they're buying all the houses yeah actually for real yeah. We'll get to that. Oh I knew some sketchy company was doing it black rock yeah, so black rock, they are the largest investment firm in the world. They manage nine trillion dollar base, that's nine million dollars and nine trillion dollars in assets based out in New York and you've, never heard of him, which is kind of wild. So under the radar yeah they people they refer to it as the world's largest shadow bank, which is fair, which we can talk about that in a second also, some people say they control the world because they control nine million dollars in assets, which is how much is there in assets? What's the total value of assets in the world Earth Voulue, I guaranteed as a Metrico it somewhere. So the Earth, according to the University of California, is worth five quatremain dollars. Wow, oh, but this one from business insiders, it's only a B trilium. So who do you thus? So they own a tenth of the World Yeah according to business recording to business inside there inside dur? Yes, they own a lot pretty much. Well, they don't own that they manage all that assets. They all go out of assets as well, but they manage nine billion dollars in assets. Okay, okay, okay, they're to their total asset value of their own company is a hundred and sixty five billion dollars, there's insane but yeah, so they manage nine million. So if for a business like this, why for a business like this, we need an origin story. So, let's, let's talk about, let's take it back. Black Rock was born in a small town in Texas in the shadows of Oh, my Gosh. I hope whenever I ask you where you're like you know, not that I would ask you all be there but like when someone's like you know, where was your kid born you'll go their origin story. Is the like brassarts a sore topic for Poles. Just there like? No it's a bit. He is. He thinks it's funny. She hate your bits, o she ate them so much yeah, dude, tired of dating girls that hate my bits she hates my bit hey. We should make a sketch show called bit off more than you can chew. Oh jees, that I be good tims noises today are very odd to me. Go ahead, the last one was like when you ask your grandma to tell story from the S Siaes. It used to be and now she's old. So now so black rock black rock founded, what's fan about a guy named Larry Fink Dude. I don't trust him already who he sounds like a guy who's, a on Artic, a manager for an actor in the N S, Yeah Yeah. I am wary fink and let I think take a head shot. I do that radio voice a lot like that old time ready on at it yeah. Well, you know: Do you practice? You know Larry Right now. What I do in the shower is you know, because some people sing in the shower yeah. I don't Proue my radio Voice, I'm pretty good at. I don't need to practice anymore, the right now. What I do, because I just stand there and I'm just like what and then I go previously on big ruther. That's all I do over and over like a watch. Erith shower il times and one welid that and then all was go, also go who win the power of veto and will be used to save in or Sour Sarah Beth or Brittany find out Wednesday at eight seven central yeah. I mean you getting better at that one. I'm getting better at it, you know I'm practice. Well, are you utilizing your shower or short Gary v straight up, I just says like he pictures one of his family members getting shot in the face. Have you seen that Clif? Not He talks about the power of sobbing, and he says they d creates emotional health and so he's straight up like in an interview he's doing his whole hold in the Mike thing aggressively. Just like you know like yeah every morning every morning I imagine one of my closest anlis getting shot in the face, and then I just cried. No, you don't that's what he says and I'm like. I don't know that sounds like you want to shoot. Your sound members in the face sounds like you're, a sociopath and like you're, a murderer way to happens like we should put you somewhere, yeah, very vigilanti, Gary Very Dangerous, so Gary Larry Fink there, you think he got t t e H S, one thousand nine hundred and senty six with a company called First Boston after you got a degree in politics, and so you work for this company to call First Boston. It was an investment bank and he eventually took control of their bond department and why I was there: He created, what's known as the mortgage back to security, which is a very famous yes, security and investment worked out really well yeah in two thousand and eight yes yeah. So that is the the backbone of the mortgage crisis in two thousand and eight. He was the guy who invented that. But at the time people didn't know that was coming and he was lotted as this hero of investing. So he quickly rose to prominence in the field and he was. Can you give us a run down of what that like looks like yeah? So, every time you walk in a room, they play John Sena. No, I meant the can you. As a my health of me. I hate that I tried to interrupt Du just push through see John Travolta warks. No, I said you walk in. You Walk in a room and they play that. Every time you walk, O Okay Gekka. He was like they're hiring John Travolta, no I'm of the mortgage, but mortgage backed loans like can you give a run down of what? What did he invent yeah? So basically MORIAC security, kind of bundles, a bunch of debt or loans, so mortgages were the biggest one and they were the most like valuable because they are seen as the safest yeah but think are going to pay. You yeah exactly, but I mean even things like student loads. Just rang. If you're a bank and you've got that money out, you can bundle it togetherm right, yeah, Yep and then it goes into a pool and then investors could buy shares in that security, and so what it does is it kind of lets. You leverage your loan as almost like a stock, and so then you can have other people, you hay it, and so you have that money on hand and then the other people are still paying it back. So it seemed much safer than a regular lone because you don't have the risk of Oh, it doesn't get paid back, it's going to get paid back, you're going to get the interest on it most likely because it people almost always pay back their mortgages right and but you also can have people invest in that mortgage and then you make money off of it even more, and so it was revolutionary at the time, and it rolls him to this prominence and he eventually like a earned first Boston, a billion dollars. So he was a very successful in the s yeah. In the S and early S, that's a lot of money for them. He was very, very successful in the bank in one tousand, nine hundred and eighty six when he made a poor decision and he lost the company a hundred million dollars and he was ousted lost his job and couldn't find another job. In finance he was like black list as he lost a hundred million dollar yeah. What you which is place it. Can you put this in the vaults right there and he's like yeah I'll, do that yeah and then he he leaves the like. Why are we hearing reports that our money is just flying over the Pacific northwest cash flying? That's where it's that, where I was gonna go at that I was gonna go it. He gets called the next weekend into his manages office and he's like Larry have a question for you and it's like yeah Si it's kind of my intention from another source within the company that, after we gave you that briefcase with a hundred million dollars in it big brief case. That's another thing, but it's not though it's just a check. You know it's Jussiere, not care like we. We got a report from another employee that they saw you walking out of the office that day and he said- and I quote, he kicked open the doors and then he proceeded to yell, to which someone in a super suit responded and said. Are you in trouble and he said no, I'm high on life mutual combat? That's where Phoenix got it he's like he's like when I could do that, so you've not only invented. He invented more man. Security. Also, Co combat this guy's, a revolutionary, so easily lost a hundred million dollars got fired. Obviously I can't find other job because you go in the job and they're like wow. That's really impressive! They're going down your resume and you just put on their in text loss a hundred million dollars, like you, sleep put on there created mortgage based securities, all this stuff and he's going to like. Oh I'm, sorry, Mr Fink, I don't think we have an opportunity for you anything and he's to stare with his brief case of money. Hey does this open the brief case? Does this help? I K it's an empty brief case, it's just as a large, so we can't do anything with that check yeah pretty much actually so he calls up his friend and they buy into a company called black stone that created this comin, a blackstone okay and basically it was the company he worked for, but he did himself, and so they took a five five million dollar line of credit started this company and things are going great, except for Larry has very different systems. He runs by the finance world operates. A certain way lay operates a different way. Okay, for example. He really believed that the people in the company- you need the best people in the world working in your company, and to do that. You need to insenate them properly, so yeah. He would give away major shares in the company to new hires to incentivize them to work for them. Hey if you come here, we'll give you eighty six percent of the company- and you were here the company's yours. You can have it. You can seriously. I it's yours yeah, so that's how I got hired yeah. That's exactly what happened to me, how became mine, and now it's yours, that it's Yoursso, but that didn't go over well with the team and after a couple years of this, it basically became this thing where I was like hey, you got to stop like you, can't keep e given that way, because it got to the point where the company only owned. Thirty five percent, like yeah the rest of it, that the rest of the seventy five percent was employees given off to employees, and so the board was like hey. We can't do this anymore and he disagreed. There ended up being a lot of arguments between him and the other founder and he eventually buys everybody else out, and it's like this is my company now and we're calling it black rock is yeah. We got to change this up and they're like what are you going to do black rock okay? It's the same. You know that right, no, it's not the same. It's the difference, Beteen Obsidian and absurd, an okay which is very different. If you don't know they're different words, all right go ahead: Tim Rock till untill in Killin lie from the Rido in Kansas City and a shirt ice cream. Funny stuff. You don't want to miss it by jacket, Stellano that'll work to can we get a monster truck? Maybe okay, so they end up investing... you should name your kid corner. I hate that. I hate that you hate that it s it s a good idea. I hate that because it yeah just this is my kid corner. Yeah, that's corner stone. I hate that I hate that so much okay, okay, so they positioned themselves different than every other investor in the world, pretty much an tesee options to hyphenate their last name. You know to be like stone rock. No. I was gonna backstone pizza like like a stone. What do they call to ten? Don't? Have I be seen in pizza, yeah black, my kid pizza, cornered, stone up in Pizza, even pizza is, is you go you get it? We can to war with it. We could tie about later yeah. We just have to meet someone with the last name. I would me yeah: Yeah people were like how did you come up with that? Last name, there's a bit. It is a bit, so they position themselves different than any other investment company, because what they did is they said: Hey we're going to position ourselves in a place where, instead of trying to maximize profits, we're going to go the opposite direction and we're going to say, hey we're going to be ready for risk and so they're out of care. If something crazy happened, they're fine is the way they set it up. They weren't so much like hey we're going to make a ton of money. They said we're going to make a lot of money, an es going to stay safe, no matter what happens okay, and so they were really really big on risk. They develop minimizing risk minimizing mes yeah because he lost a hundred million dollars Ye. That's you think, that'd be a priority. That was pretty bad yeah he's I that was rough yeah, and so how do you do that? Then I don't know, I don't know. If I knew I would own it. I don't know yeah you ask Larry we're over here talk about stone, Ov and pizza. Last names, I'm not a billionaire, so they had systems in place to be able to check all the possible scenarios for their clients. Basically, Okay and say: here's all the possible scenarios. Here's our investment plan we're going to kick out the ones that look like they're, going to COSENTIA, go that yeah load and we to keep you in the stuff that is very low risk and they would go to their clients, and that was what they would offer them. They would say: Hey we're going to come, do a risk assessment of your company and help change your portfolio accordingly. So that way, when risky situations come, you're, fine and people paid them a lot of money to do that and which meant in two thousand and eight. They were the only financial institution that was not harmed by the the crisis because they were in a position really. So He created the thing that caused the problem, but he didn't suffer the consequences of that problem. Exactly because the two reasons, one, they were the only company that was set up internally to be able to withstand risk like that downfall like that, but also when the downfall started, everybody came to him and we're like hey how much money do we have to give you to fix this and they just paid him a ton of money to the poor pole like hey, you made, I thing yeah, including the US government yeah, that's what I'm saying yeah the government came to Larry when they did their bail out and they said hey black rock is going to put together our bailout program and they're like we need you to figure out the most important institutions and we need you to craft this system to bail out all these banks, because one they're like you're the only one- that's not armed, so you obviously know what you're doing too were the government. So we obviously don't know what we're doing so. It's a good max mix match good match good match three. You came up with this idea. That is exploding so clearly you should know how to fix it, and for I don't in that's a good log, though of like this was your idea, so you should also know how to fix it and it's like yeah. I mean it was my idea to bring wolves to the twelve year old birthday party, but I don't know how I don't know what to do now. A kid them out as whipping a Adonoi can't get it. You know you know how hard it was to get them here. Yeah Yeah, I do you know a wolf guy. Do you have that sounds like something a youth passer would ask, though yeah I got a Wolf Guy, golly and here so yes, so the US basically gave black rock a hundred thirty billion dollars to figure out the deck crisis, some of which they got to keep ut, most of which they had to allocate wow. The issue with this was it was a massive conflict of, Inter they paid me that much I could probably figure it out. I could probably fix this. Well, not the issue was. This was a giant conflict of interest because who were the clients, the biggest financial insites like a smoker right? Now, whatever is going on with your voice, I take some cat. Is it my cat yeah? I he was like yeah, I mean I think I was like bore you doing like a. What are you doing? Yahwe move into a new studio, I'm going to sound like a new man, I'm going to sound like a new man. I'll talk about this to so you don't feel as let out a I got you the whole episode, sweet and preimagined. You know how how grating this is on your brain right now, yeah yeah! This is what I'm going through over here s. The whole time is like they have a hundred and thirty billion. Now I like a lot of money, but, like you know, for that, I can I now okay, so I'm just saying try harder. This was be less allergic to cass pray, it away. Lord, I come to you a sinner and I humbly repent. My sin is that how you pray dude, that's why you have fire from a church. Every is kind of pres weird, like do doesn't even know how to do this. That's like submit an official document for the firing and it's like speaking of the praise, weird brays, weird and they wrote it. PRA PRA ISE, weird praise. Praise Weird unto was like wait. No, I said he prays weird, and so I was like that's what I wrote I like the way he prays. No, I hear you, I know exactly what you're saying yeah I wrote the same Kara I se praise and worship yeah. I love praising worships. I think o wait. What the time out of the relations. Oh, my gosh. Yes, one of my favorite Salm, Toms Yeah Yeah did you have another bed yeah. I know as you, someone was like: Hey where's, the bathroom you well. Those are our first second and third John over there. So it wasn't a good one, but it's all right. At the B James Is Third Corinthians. So that sounds better. We just had to laugh it out a little bit. You know speak from your Diaphram, so there was still hundred thirty million dollars a across all these financial. The stution, AH, the issue was black rock man, as you can tell Tim, is done with a bit when he pushes o they manage the funds of all of these financial institutions yeah, so they basically got to decide what happens to all of them. What a pins with the money who do we want to bail out we're going to bail out o? I not one o yeah they just. He gave the money, the people who are giving me up to them. We allocated we were I mean we did what the government told us to do exactly. We just happened to do it for all the people. We already had an interest in yeah and they said the government hired us because we know best and we know what ye or have the biggest empson. Then you get new clients because they're like well, the government Tross, some yeah and so yeah, so they into those nine. They became the number one asset manager in the world, while and at the time they were managing gosh. I think that's when they went over a trillion dollars in assets, wow and so made them the largest in the world, massive massive company right yeah and with the added fact that everyone else is tanking hard. Yes exactly, and so so everybody starts coming to them and is like hey. We need you to to risk me and ad, just all of a sudden that began to all the rage, so they did the hen. Did they do the two thousand eight blast the same way they did the two thousand and twenty bail out stuff for the just printing money, yeah, basically yeah, yeah, okay, and so everybody came to them, were like Mangar risk portfolio or whatever, and they developed this system called Aladdin, which is the network of five thousand computers that basically did what they did before Addin, but a computer does it yeah, and so it just manes, also the food company from our college yeah. It's both it's got. They do a lot of stuff. They operated in two vertical. They were like. You know we should get into college dining. I know a laden food service people. They got to pay for it, you know they can't not students so, and I mean it doesn't pay for an you know. They can't you can't you can't have a school, that's a fire fest! You know what, if you got a fire festival college edition, that sounds legits. That sounds like one of those like American pie movies. It is like fire festival, College College, Fire Fest University, so they developed this alowd in software in the software. This isn't like a streaming subscription where you're paying nine ninety nine a month yeah. This is a hundred and forty million dollar a year. Investment Poor Company, POR Company and companies are lining up to get this Aladdin software to help them manage the risk. We got a duke. We got to get into this stuff which to me I'm going to go out on a limb. Let me go out on a limb yeah. If you gunto spend a hundred forty million dollars to pay a company to a year, you be less whisky, I would just say: keep the hundred forty million dollars and make better choices yeah, but that's I mean like, but when you're looking at a Invalis, but an so much tea, I'm saying the revenue that they're doing I mean let's say that things fall apart. A hundred and forty million dollars that year in savings is not going to save them. Yeah, that's true! For a lot of these companies, a hundred forty million dollars is a drop in the PAN and so so yeah, so they they're exploding throughout the two thousand, because what is facebook make a day? Let's take a look, because I remember whenever they got in trouble for boosting video views and stuff, their fine was pretty big, but what what's their revenue a day? Twenty one point: five million ton one and five yeah. They had to pay a ten million dollar. Fine, yes, and it's like all this, give it half a day a stuff yeah, that's crazy! You know that's not bad yeah, so they they blew up in the two thousand and ten right, and I guess what happened: Two Thousand Twenty, two thousand and twenty and o again the only institution that is not harmed by the two thousand and twenty crisis in March. Well, I don't know the PGA wasn't either, though dares a Mo that they, like still did you remember, the PGA took out pandemic insurance in like two thousand and three that's weird yeah. They were like yeah well, because George Bush was warning about George. The Bush was like guys. We are not prepared for a paynim if it happens, so the PGA took out pay the resurch this up, how much they got out the PGA pandemic insurance because I think they paid. I think they got out like seventeen million dollars on that year. So I don't know I may be way more than that. Actually don't think about it. That might have been what they paid in. I'm, not finding PGA, I'm finding Wimbledon, oh the tennis thing yeah did they do it then, and my was I wrong about PG was Wotan. Maybe Wimbledon took out a hundred and forty one million dollars last year, yeah. Yes, that's what I'm thinking of that! THAT'S INSANE! It was one of the elites yeah spe, one of the superiors yeah, one of the better than US says it yeah. That's like the added bonus of playing those games, yeah that you can sit there and know there's people in the world who don't play this game, and you say like that too. If people like Bro, we live in Arkansas. This course is closed. Eight months out of the year, maybe calm down, you know at Tillin we're not just a PODCAST, we're a ministry and our hope is to continue to reach more people with the light and the joy of the Lord, because I remember at the center of all this, the core of who we are. Our main objective is to fiddle off the devil. If you want to help support us in that ministry, please join us on patron. We will get at free episodes, exclusive merchandise, a discord channel or we can discuss everything you want to talk about your dreams, your ideas, your problems, text, Tellin to six, six, eight, six! Six! Do you feel that relief anyway? Here's another advertisement, so in two thousand and twenty the crisis hits they all or companies survive, they're, unaffected and yeah. Anybody who needed some help went to them, paid them more, and so they made a killing in two thousand and twenty and it pushed them up to nine point: five trillion dollars, gee in a set that they're managing, which is unbelievable. Now, that's not money that they have, but the rarer right think managing those which is crazy, and so it's let a lot of people just start to point the finger out them and say hey. This is a monopoly. These people control everything because they make the decisions on how money moves, and so this is part of why the game stop thing was such a big deal, because these were the people who before could decide what happened in the stock market. They could say: Hey we're going to move this money to this fun and it's going to change everything in the market because they just had such an insane quantity that they were managing. They could run in. They don't own it. So they're not technically a monopoly. Technically no yeah and that's a so complicated. Is it technically what they're doing is allowed yeah and they don't have a lot of as many checks and balances that, alas, a lot of institutions because they're, not a bank, there was called Shattock M, so they're not fice, insured they're, not they don't take deposits, they just manage funds and so which I was speaking in shadow banks. I say about the starbuck shadow bank, yeah yeah. Is that what it was? I A E? Are you going to get to that now? You can tell that. Oh because the the money you put on a starburst is then you're exchanging your money for starbucks credit money yeah. So if you've got fifteen dollars on your APP yeah, then you just gave star books fifteen dollars that now they can take loans out as an asset yep. You know so they have at any given time one point two billion dollars on the NAP and that they can take out loans and leverage that money and and move their shares as if that is part of their it's crazy to me. Ah, that's I mean they can give out loans. They can do all that. You know they can manage that money. That's it's really wild yeah, it's bankers, yeah, and that's why every business is trying to do apps now, yeah Sah. We can, let's put a gift cars on Apps, give cards on APPs, so yeah, so they you can order apps on our AP. That's apple bees, apple les, get the Apple Bees right guys. I mean hey for your marketing team seshes, that's free! That's on no ye free, not free! It's! You know, give me boneless wings, but you get it. You don't want, go to a wes outer the back. Our sauce bring back one apple bes re back to the sauce. The hot dry rub too bad. The one next to me is just torn down. Have ever read my appleby's letter on the PODCAST, no Dang it I'm so mad that you just brought that up. Why? Because I was going to insert line after line after a line. Oh from my I've already done like two of them that really yeah and I was going to tramp it all together and then put together the whole thing. It was going to be like me and different episodes suddenly reading you d'eve now for a long time. I thought about the idea when you sent it to me and then like I had thrown in some of them and I kind of forgot for a little while and then I threw and so like. I just hang it cleneen yeah. I still do it wow yeah, because I got on on my phone I'm impressed. No, I we have to give some context now. No, Oh, my God yeah you can you know I'm really bummed about that. That's like! If you it's like it. One day you were like the only have four fingers in this thumb nail. You know. That's like one of those things that I really thought was going to pay off in a little while takes yes, well, I'm so, okay, so tell about your apple be's letter yeah. So if you don't know times obsessed with the it was a buffalo, they did buffalo sauce and dry, rub on it yeah it was this like it was so they had their hot but they're hot sauce right right, but they had as a sauce that was like it was their their buffalo, but they also dry rubbed it before they did. I don't know like it was crazy. It was awesome and I loved it, because we used to go a MES, a lot yeah in college. We will go every week yeah and we're there every week like every Wednesday night yeah, that's how you and your wife, like God, Cos. That's where we had decidi mean that's. Where we decide to Mace me: Did we decide at Apple, be inside an appleby's and we went home a do it well, we sided applebys were like Stein that crescent booth right and it was. It was funny because you know tin, an bree started on opposite ends and they just slowly. You know kind of looped around the move and then all of a sudden he were sitting at to each other and we were all like: Oh shoot. I guess they're. Are you all touching mouths? You know, and I hate that- that's how that's how I ask people if there dating so anyways one day they took away were like you all touch of mouse and they were like. No, you know all right when our comfortable is on March Eighteenth, two thousand and eighteen at eight, fifty eight. What are you I to apes and I try to order that those bon those wings. This is after we moved W we're in can city now and how are those go, those all the things they see that sorry, we don't have that sauce anymore and I was crushed, and so I ordered I don't know a burger something random something dumb, but we're in a big group. I was like a gre from church were in a big group and when tim gets mad, it's hard to hold it in. For him you know I pull on my phone and all my notes out. I wrote a letter to Applebee's that I later sent to them when your indered, it dear applebee's, is with a heavy heart to day that I write you. I have been a faithful apple best customer for years. I watched this one by one. My friends and family began to Bash Apple Bees and turn their back on the bees, but I remained faithful and I defended you passionately a couple years ago I started the Hashtag, save the bees to do my part in making apple bes the Amazon of the restaurant industry. It didn't take off, but it's the thought that counts. But today the worst news was given to me. Your hot buffalo sauce has been taken off the menu. This hot buffalo sauce was on, like anything, I've ever experienced the dry road that, since underneath the glorious sauce created a dry, wet experience that could salivate the mouths of people for miles through thick and thin. This recipe has been there for me. I firmly believe that I never would have made it through my basher's degree if it weren't, for the support that I received from your hot buffalo sauce to day. A piece of me died to day only you on the hold the power to resurrect that piece of me that desperately strives for new life appleby's. I love you, I always have I defended you when no one else has- and I intend to continue, but this I don't know if I can get over this, I don't know if I could return to an Abeles again. Our lives together will never be the same, but I hope no, I pray that way that we can reach some sort of point of reconciliation and repair one of the most influential relationships in my life. Your biggest supporter Tim Stone Yeah. I can't believe you wrote that in the year book I hears, what I know is that their marketing department got to deer applebee's and then they just shut the email right. I got a reply that was literally like as like, as the cand response about the sauce I was like is like thanks to him. Our thanks to me for reaching out sometimes we are as accordingly, we assess how our many items are doing and sometimes manu items need to be taken off or added. So I keep checking back, maybe some day it'll be back, and I was like I emailed them back and I was like I'm. I want that. You know Bain back, I won't be dear Apple Bees. Thank you for this thoughtful response. After prayerful consideration, I probably not be doing. I know it's water, but please don't spit it on my carpet at your prayer for consideration. I will not be returning to any of your locations. I will, however, email store managers. Once a month there. My new male chimp account I'm cap a two thousand for the free version. I am not willing to pay more, so this is so. Please give me the contact em over all two thousand of your stores. I do believe this is the reason your business is declining and you're. Closing your locations is what happens. Tim gets water his mouth. I just try to keep going. I just trying to keep go me and my wife decided that we were going to get married here. I almost proposed at Apple Bees. That's why we relate to my proposal. Actually, hey we're not bringing it. I can find this talk. I honestly thought they needed more time. That's why I did that. We were a dessert. That's all it was that's literally all it is and they're mad about it. I thought they needed more time, whatever man and you guys blame that girl. I was with yeah. I mean there was a period where I was just bringing girls on double dates with Tim and breed to see if they would like one of them yeah and they never did and like at this point, they've just been like Reagan's been around long enough. I guess I just didn't like her either though at this point we have to like her so yeah so anyways. I don't even remember what we were talking about. What's black rock so yeah, they manage a lot of money. It's I'm just mad about apple bees. Now, no they have a lot of assets. They manage these companies. They, you know their monopoly, but technically they're. Okay, that's where we were. We got from APPS TO APPS ES right, so they're, a shadow bank they're, a shoutowker 's. The thing he's what happened in two thousand and twenty though so they black rock the company they saw what was going on in China. No the world, oh and they said hey the housing market right now is wild. Oh yeah, the like this is a safe bet. They just bought all the houses is m they're, going into like twenty thirty percent over. Aren't they yeah they're coming in way over they're going in these bidding wars that normal people can never win with them right and they're, just yeah they're coming in with her Olbein on the illness, and then that way, they're going to try to resell them or I don't think they rent them. I doubt that I don't, I think it's I think they're just got to hold on to and so on and the Dream House that you got out bit on and then not you, but I'm saying like if you were going for a house, you got out bit on it and then, like three months later, you drive by and still no one lives there yeah, I don't erstand it's because an investment company bought it yeah like, for example, there was a new housing development that went up in a town called Kanro, Texas and a box, a rod but okay, unrol Houston, a bunch of buyers were touring the homes like looking for making offers ye back rock bought every single house in the housing development. It's an empty housing development because they own all the houses and they're doing this across the country. They're just buying as many houses as they can and a bunch of people are up in arms about it because we yeah is then all we're doing is sitting on it and expecting to make a profit on estiron sell it for more. So then, you go in they're coming in and out bidding you by ten twenty percent and then later they're going to list it for thirty percent higher than what your original bid was exactly and the thing is, there's a housing shore were never going to own homes. Well, you do, but I'm never going to own a home. So there's there's a housing shortage right now and a lot of people are pointing to value your sayin, it's their fault, they're, saying black rock bought all the houses. That's why there's a shortage and Co can't get houses because he's that's why I'm trying to buy some old apple bees as they're closing what if we lived in an old apple base together? What if we started in Applebee's? What? If what? If we wait until apple be's, a company goes under and we open a place called apple bees kind of like the blockbuster is not affiliated, but it's a you know and only sells in weird hop of a fire, the last apple bees. We are your last applebee's I mean I would. That would be the apple best. I would touch my heart man. I'M NOT gonna lie. I should have read that letter. I'm like sad right now, oh my God, so anyways Larry think is once again he's restored his reputation. That money is lost. He's made way more for companies yeah time Temag in over and over the government again in two thousand and twenty went to him when it was time to do a Pan, so he orchestrated the bill. Laery he's pangs it up. That is a lot of influence. If the government trusts you to do that stuff, I mean like you. You then have influence over politicians, yeah and listen to this. They bought up they've, bought up or bought up or merged with a telepen like. If you go to a politician and they're like well, I don't want to do your bidding and then Larry Fakis like well. I own every house in your district. So so, if you want a house O, no politicians don't live in their districts, so mean. If you want a house, so they bought up a ton of companies. Some to I'm saying he could force all the attendants out. He could be like you, don't have anywhere had your distrait there's, nobody in your district, that's what I was thinking your district is. It goes down. That's fair. They've bought up a lot of companies that you probably heard of like Merrill Lynch Barclays, let's see what's another one, you probably heard city bake, Amex John Bid Juice Hi, welcome to Joba subsidiary of black rock like, but you can't say that. Don't don't repeat that! What can I get you today? Any thanks for coming into John be juice. We got a special on this and also do you own a home that you'd like to sell here's your Jew, sir. I remember it's the only juice that will survive a deck crisis, gamages over the whole time, twenty twenty they didn't close it all yeah. We can survive anything, not a glide like cockroaches, but like now, in a nice way like if cockroaches were fruity and cold. I'm glad that you're laughs not in packed by your cat allergies thanks so recently they have been rebranding themselves yeah, because they've been trying to be like we're friendly yeah they own the world. Yeah want people to be happy and were not the bad guys and so they've had some people who havee been like hey you, your investments, it amounts to nine point five gigatons of Co. Two emissions in the world, which is thirty percent of the total energy emissions in the world, is black rock and companies. It theyre message right right, and so they joined an environmental group and they started trying to improve their ESG score, which is their environmental impact and social justice. Yeah concern things like this, and so they're now, apparently shifting away from all of their like coil, Col, coal, coil, coil and all old and coin all and coil production companies to try to have a better score in these things. It's a policy son is yeah, it's pretty obvious Merrill Lynch is the Investment Group that Banco America uses, though yeah so yeah. So and that's the thing they're pretty they're everywhere they they manage or own a lot of the major banks in the world yeah, and so it's like it really is, is really is one of these weird things whets like this. These guys are pulling the strings like at least on my car at least the economy. They are deciding how the economy runs and it's a little sketchy, and so a lot of people are saying hey. We need to deal with these guys and obviously those guys are saying: Hey we're fine. I mean we know what we're doing we're. Okay, we do things well, we've only ever lost a hundred million dollars ever ever yeah, just a hundred million dollars. We also we invented the subprime mortgage, which I mean what for one else name one thing that everybody knows more than that yeah, you can't yeah. We were bigger than the we've rebranded, the subprime mortgage, you know and if we can come back from that think a way we can do for your company, that's the pitch. I H K, that's their pitch yeah, so Larry Fink and black rock a little sketchy. You've never heard of them, and that should worry you, but you know he started his career. Larry started his career with the you know that stuff. I don't want to do it again. I want to hit it timeshare with a very extravagant. You know a boasting kind of thing and they went more quiet yeah today today, there's a dort quote going around of him and he's like he's like he's like I'm home a man he's like I want everyone to know he's like I'm the same turn I was thirty years ago and I think that's exactly how it's going to go when he rides off into the sunset he's Goin to turn his way into his fiddle off. Things are done. That night is a production of space. Tim Media produced by Christian Taylor, audio by Ous, Garnett video by conner bets are graphics and Ar Logo by Kaleb, but Golberg's media is run by Kelaba. Our host or JERN myres and Tim Stone falls on your favorite social media platform at Tillin. PODCAST is till and podcast remember to tell all your friends about us and we'll see you next Tuesday. For another episode of things. I have on last night T T