FRIDAY WRAP: Musk’s poor now, woke-free beer is also governance free, Stuart Kirk loves governance, Meta investors celebrate child exploitation

Introduction

IT’S FRIDAYYYYY!!! And we are LIVE, and ALIVE. This is Ari the Data Queen, joined by AnalystHole Matt Moscardi, Jessie the Money Whisperer, and Hazelnut Rallis. On today’s weekly wrap up: Elon Musk and Mark Zuckerberg

Story of the Week (DR):

1. Judge voids Elon Musk's "unfathomable" $56 billion Tesla pay package JS MM

2. Mark Zuckerberg to families of exploited kids: 'I'm sorry for everything you've been through'

1. Meta Reports Profits More Than Tripled and Issues Its First Dividend

2. Zuckerberg announces $50bn payout for Meta shareholders amid child safety concerns

1. Major Meta Shareholder Zuckerberg to Get $700M a Year From Dividends

3. Elon Musk and Bob Iger top the list of America's most overrated CEOs as ranked by their peers

1. Elon 399 votes–Bob 302 votes

2. Most underrated: Microsoft’s Satya Nadella with 274 votes

Goodliest of the Week (AB):

1. Judge voids Elon Musk's "unfathomable" $56 billion Tesla pay package JS 

2. AI: Good news for monkeys: Start-ups say new technology could help end animal testing by pharma companies

3. American beef industry hits record low, according to USDA

1. According to the USDA, nationwide beef cattle inventory dropped to 28.2 million this year - the lowest level since the 1970's and down 2% from a year ago.

4. 'Woke-free' beer venture in Georgia earns F rating with BBB MM AB

1. Ultra Right Beer sprang to life nine months ago to take advantage of conservative criticism of Bud Light’s trans marketing campaign.

2. From a customer who placed an order in September for a limited edition Conservative Dad’s Revenge six-pack with Donald Trump’s mugshot on the label but has still not received the beer: "It's so damn frustrating that nobody responds to you, and they're supposed to be a business. That's not a business.”

Assholiest of the Week (MM):

1. Deepfake governance JS MM

1. We are all hypocrites on corporate governance

1. Stuart Kirk argues that because we TALK about governance, we’re hypocritical since we ONLY care about making money

2. Meanwhile, just this week…

1. Only Tesla Shareholders Can Clean Up Musk's Compensation Mess

2. Bernard Arnault Names 2 More Sons to LVMH Board, Cementing Family Control

3. Norfolk Southern books $150 million charge for Ohio incident, and stock drops after profit falls below forecasts

4. WWE founder Vince McMahon resigns from TKO Group after being accused of sexual assault and trafficking in new lawsuit

2. Deepfake safety

1. Boeing withdraws a safety exemption request for one of its 737 Max jets as the company faces mounting pressure

2. Boeing suspended its financial guidance and said it is focused solely on 'comprehensive actions' to improve the quality of its planes

3. Alaska Airlines CEO: We found 'many' loose bolts on Boeing 737 Max 9 planes - NBC News

4. Bonus safety problem: Zuckerberg announces $50bn payout for Meta shareholders amid child safety concerns

3. Deepfake billionaires DR

1. Tesla CEO Elon Musk says protectionism is the only thing stopping China's cheap EVs from demolishing the competition

2. Zuckerberg to Get $700 Million a Year From Meta’s New Dividend

Exhausting-est of the Week (JS):

1. Meta investors MM JS

1. Meta’s stock, already at an all-time-high, shot up 12%

2. DESPITE reporting $16.1B loss on its "Reality Labs" division

3. Announced stock buybacks and issuance of dividends for the first time in history

1. 700M for Zuck

4. BUT what investors aren’t focusing in on is that fact that Meta’s bottom line was boosted by the 21,000 layoffs- a 22% decrease since Nov 2022 and closing and combining offices, “facilities consolidation”

2. Adidas won’t write off remaining Yeezy inventory, plans to sell ‘at least’ at cost

1. Ahhh the truth finally comes out

2. CEO Bjørn Gulden reported: “Our consumer, retail and trade research has shown that we can sell this remaining inventory in 2024 for at least the cost price. This is why we have only written off inventory that was either damaged or very broken in sizes.”

3. It’s not clear if Adidas will donate any portion of the remaining Yeezy sales. The company said it has “no assumed profit contribution from Yeezy” in fiscal 2024. The company declined to say whether it would donate any more of the proceeds this year.

3. Zuckerberg says sorry for Meta harming kids—but rejects payments to families DR

1. Zuckerberg did not agree to set up any compensation fund, but he turned to address families in the crowded audience

2. "I’m sorry for everything you have all been through," Zuckerberg told families. "No one should go through the things that your families have suffered, and this is why we invest so much, and we are going to continue doing industry-wide efforts to make sure no one has to go through the things your families have had to suffer."

3. This is why we invest so much- Meta spent one third the amount on safety that it did on it’s ridiculous, fake Metaverse

4. This is pathetic

Who Won the Week?

1. DR: Chancellor Kathaleen McCormick, the first woman to lead Delaware's Court of Chancery

2. AB: 

3. MM: Elon Musk - what better way to get support from other billionaires than taking away billions?

4. JS: Hands down, it’s Delaware Court Chancellor Kathaleen McCormick. She’s a Free Float hero!

Predictions

1. DR: After a disturbing ayahuasca trip in Peru, Ari comes back to the Friday Show next week and changes the opening tagline from: “we are live and alive” to “we are undead and predead”

2. AB: 

3. MM: Kimbal Musk resigns - all this work is too much work

4. JS: Musk uses this opportunity to fire Yacc for being too woke: X CEO Linda Yaccarino to outline platform’s measures against child sex abuse at Senate hearing