0:00 [Music] all right so there's a bunch of uh google employees who were requesting that google give them a significant pay bump because of inflation like the way that their money is being spent right now um like the way that all of our money is being spent are not being being printed right um it's reducing your power when you're buying something i get that concern because there's a lot of people that read that and then they're like holy ████ if my like 60 grand is only going to be able to afford 40 grand with the stuff don't i need to get paid more yeah so google um you know heard these employees and then they were like that's very interesting that you guys want to pay increase because of inflation but um we're sorry we're not we're unable to do that at this time what's a complicated issue and then they proceeded to give
0:50 uh a bunch of their top executives they wanted one million dollars each raising their salaries from six hundred and fifty thousand to one these billionaires need to start paying their fair share there it is start ████ paying their ████ fare but without the billionaires who are gonna provide the jobs this is pretty good that's true they need to stop taxing all of the people stop talking all right that's why i think we should burn these buildings down wait what if i didn't say that i have heard him say it let's burn down the big corporations holy ████ so yeah it's it's volatility it's for their top execs right they're they're going to be jumping making the jump to 1 million from 650 000 um there's a chief financial officer senior
1:40 vice president senior another senior vice president and a chief business officer and a president of global affairs that's crazy you know what this reminds me of um remember when we had the recession and then people were talking about the bailouts right and then how the bailouts were going to help the companies and and the economy and then right after the bailout happened like i think it was a aig or the insurance company they celebrated by going on a all paid vacation for all the executives like bought a hotel out yeah they got raises so um that's taxpayer money that's not because they made money from the business or whatever you know i wish there was like an economist that could explain what like what the purpose is because like all i hear is the reason why you need to bail
2:31 out those companies is if they crash then everyone's going to wipe their ass with hundred dollar bills right i'm like okay cool i get that concept but if you need a lot of faith for someone that's on the ████ end of the stick to go oh okay that's why they need the money and not me yeah exactly right so i'm like i wish someone could explain it and then also on the other end don't ████ go and celebrate on private jets and ████ well they did less than a week after the federal government committed 85 billion to bail aig executives of the aig insurance company headed for a week-long retreat at luxury resort and spa the saint regis resort in monarch beach california yeah what if they used their points though i think they did they did oh sorry what if they used their points they used their credit card points they had really good rewards those guys get really good like frequent flyer models
3:22 tax payer frequent flyer miles they also just got 85 billion dollars to bail them out so like you can afford it and they get all like access to all the cool lounges in the airport so plus i want to wipe my ass with 100 bills that sounds fun it feels abrasive abrasive is a good word yeah i probably shouldn't do that to the google i guess the google employees their starting salary is already pretty high too though where they start at well i mean a lot of them are like 200 300 g's for sure so they don't need more money i mean they everyone does wait wait that was the wrong hat they don't get paid enough they don't need more money i want to know the math though so like for example you said like what five execs went from like 650 000 to like a million there's four four of them yeah right so that's a 350 thousand dollar race times 12 to a million 12 four that's 14 that's 1.4 million dollars in raises right um in total so how many and wait four execs are yeah
4:13 exactly yep good how many employees you know what i mean were like they have 400 people yeah like 1.4 million that they could have dispersed they gave it to four people versus thinking let's take care of more people because at 1.4 if they if they gave it to the company it might be a 25 raise for everyone like depending on how many people they employ well depends on who's asking for a raise you know based off of inflation but does it also work like that because i saw a meme and it was like lebron james and uh i think steph curry theirs or someone else their net worth is worth than all of the wnba's pay oh so like does money just move can you move it or is it worth like that you know or i got which hat you're wearing right now when you're talking about this yeah i got a mega question all right i got a mega question that's true that's
5:03 one or more uh business question okay so like let's say um is a company responsible for what the government inflates so like the money supply was inflated by the government right right and then so to adjust for the inflation do companies have to adjust or like whose fault is you need a tesla for that one that's a good one that's good maybe maybe this is i don't know that was a good joke that's a good question i think i think it's different because of like things like the consumer price index right um regardless if they go what does that mean ████ smart ████ yeah dude something about like this if uh if i'm the company right and then inflation happens do i have to pay my employees more because of inflation technically no but am i also if i'm selling a product am i charging more because of inflation therefore bringing in more money yeah because then it's like if i'm charging
5:53 more i'm bringing more money but i'm not paying out in order to like you know balance but on the other side their cost might be more too like if you're a water company right you are charging more on water because your water source is charging you more yeah i mean that's what happens right when they do tariffs even like they just pass it on to the consumer and they go cool we're hiking the prices on your goods like there's a lumber shortage right now right so a lot of contractors aren't getting paid more but their costs are more because the lumber is more expensive so then when you know you're building someone you might get the bill and go why the ████ is it a hundred thousand dollars more but it doesn't the the guys that are building the house don't get that extra money yeah so they charge more but technically their net profit is the same as before that's why economics is so hard it's easier to just say slogans tax the rich eat the rich there you go they say eat the rich yeah they eat the original yeah eat the rice more of a
6:44 burning thing yeah wait yeah this maybe yeah that's true i needed a burning hat that's corporate democrats yeah just turn it to the hip-hop bite and then you'll be okay hip-hop item or you can get two with the two gloves right oh yeah yeah lacrosse i don't know man the whole inflation thing is really really complicated though you know like ████ yeah man i feel like we're all in the same place too right even as a company it's kind of just like you need to make more money today in order to live the same way but if you don't get paid more money then your your options change you have to like start looking at other things and thinking about other things you know what i mean so i think it all kind of like continues to trickle down right but at least everyone's getting raises at the same time that's for decades that's been going on it's been keeping up with the rate of inflation really well inflation is you ████ feel it this year right yeah you like really how do we protect ourselves
7:34 from inflation like every meal you go out crypto ████ it's difficult thousand percent crypto you just deflate a little that's the right answer there's a work called hedging that's like basically if you know that inflation's coming then you buy things before that happens of value so that's why real estate was going crazy because the interest rate was low meaning like the mortgage percentage was low so then um you know it incentivized people to buy homes and and you know they wanted to stimulate the economy while things were still not moving in the economy versify their like their portfolio during the pandemic the economy wasn't really moving so but people were buying stocks because of stimulus checks and all these other things and ballers they remember the uh recession so they they saved up actual cash and then so they were waiting on
8:24 the sidelines for a crash to happen with all that stuff and they were like i'm gonna buy when it's time that never came so that's why when things started going like oh low interest rate i'm gonna buy homes i'm gonna buy this they actually had cash this time to buy a bunch of things and then so the rich got richer during the pandemic because they had money to play with so like if you had a little bit of money to go into crypto or whatever um you actually if you bought the right coins you did well but if you were like me you lost everything but like that's basically how people stay rich or or build wealth is like you you want to try to predict what's gonna happen and you're like oh ████ the dollar is gonna go down in value well i better put it into something like a home which will add value or crypto or maybe even stocks yeah and then that's kind of what we've been seeing and then the
9:14 people that don't know and have no financial i guess like iq they're kind of left in the in the dust you know yeah the interest rates are still low right now it's under three four homes yeah yeah how long do you think that's going to last for i don't know they say they're gonna pump it this year just announced that they're gonna pump it up that's where everything slid a few more points yeah it sucks because that's i think at the end of the day like when you're the littlest guy in that conversation with the least financial iq and then you start shouting the ladders you get eliminated first i highly believe that like what happened with the with the car wash you guys know what happened with the car washers union they tried to do no so back in the day there was like all these like people when they were doing hand car wash and everything they tried to start a union to be like let's all get paid the same and then they turn into automated car wash turn into automated car washes that's what sucks man i think a good society makes the quality of life for
10:04 the average and poorest people better each time because it's so hard to find the answer to inflation but it's easier to find the answer to car wash guys that all want to get paid right or even like yeah comparatively that's an easier solution walk up to the kiosk and we'll make the burger with robots ████ you and it seems ████ up and we'll make less mistakes which is crazy because they don't come high to the workplace not yet i mean from a macro perspective though that's like progressive you know what i mean people losing out on jobs and stuff people are losing out on jobs and stuff dude honestly the ████ new car wait that's actually both hats people losing out on jobs you don't like them are significantly better than the ████ machine way better machine car washes ████ up my paint and i bet that ████ is expensive for them to fix it i don't
10:55 mind going up to the little machine kiosk at mcdonald's instead of getting it ordered from the person i agree yeah but i like both so i think automation helps a lot but what what about when you're in the drive-through there's no kiosk i'm not i sold my car for crypto dude i can't even get a car wash or nothing ████ and you made the right moves because that car made you a million dollars [Laughter] here you go [Music] [Applause] [Music] you
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