Bow down to the throne crowd. Please up setting fires on my own. Don't need you so heavy I'm a legend I'll teach you I'm Numero Uno you know the original King I'm a Sumo no game come on All Hail to the King foreign Supernatural I'm an animal burst through like a flame cause I'm flammable I'm taking off I'm a radical hot rain fly down like a cannonball like I'm invisible when I stand tall All Hail to the King I will not fall foreign do Goonies My apologies, my apologies, my apologies Not only was my hair not perfect but I was late to stream and I have a very very good reason. So before we get into the Matt core show, let me officially say I am sorry I was fighting with people on Twitter I'm gonna be completely honest with you I essentially started World War III on Twitter and I thought it was fun and I've been laughing the entire time I really get a kick out of it I mean honestly I've been waiting for this show to start so I've been sitting at my computer for 45 minutes because I already prepped the show early today and this is what happens when I get too much free time I get bored I need constant brain firing I need my neurons to keep going I can't just sit here and stay calm I can't sit on my hands. it's literally impossible So I decided to get spicy on Twitter and I've spent the better part of the last hour and also an extra minute where I should have started the stream just fighting with people and it's been a blast. honestly. I am mopping up I like I'm feeling so good right now I am crushing it and we're just gonna see World War World War Three takes us a world that was a lot of W's together. My apologies I'm just jacked up right now. It's always good to win a little internet fight here or there I know obviously like there's no good winner in any internet fight because you never change anyone's mind. but I think I might be switching some people's minds I really really do so. obviously you're not allowed to Quick click away from the show in any manner. but if you need a little bit of r r a couple laughs later on, make sure to check out Twitter and make sure to go to my profile because it is as spicy as a hot tamale. Speaking of a spicy spicy hot tamale? That's tonight's show. We have some crazy crazy things to talk about. We're going to be talking about the election, which is really making some people super happy and other people super super mad. So we're going to be breaking down everything related to the election, especially through the lens of the market. Then we're going to be getting into today's number one story, the Craziness that Will Not stop I'm talking about the absolute death spiral of FTX I'll be giving you all the details of that. and literally as we're filming, this live crypto continues to vomit, continues to fall to the depths of hell. and then we're gonna wrap it up with some things going on with Elon Twitter a little bit little bit about Meta and the fact that they fired 11 000 people today. Then we're going to be getting into the reasons why I'm getting so absolutely spicy on Twitter especially through the lens of SPF Sam Bakeman Freed and FTX and also doing a little bit of a recap in the world of AMC and particularly Adam Aaron And really, that's going to connect to why everything's getting so absolutely spicy. And then I'll just let you know the major things to pay attention to for the remainder of the week. So we got a big big show for all of you. Now two things before we hop into that show: Numero Uno Obviously destroy hit murder, Do whatever you need to. but hit that like button. Make the likes go higher and higher and higher because I am a social media content, views horror and it's the only thing that makes me feel good in this entire world. So hit the like button on YouTube. Hit the like button on Rumble and do not forget to subscribe on both. Hit the Subscribe button on YouTube. Hit the Subscribe button on Rumble. Doing it. Do it. Do it. Do it. Massively important. It's the only thing I'll ever ever ask out of you. So thank you, Thank you, thank you. And number two. Pay attention to the sponsor of today's stream. I'm talking about true Trading Group It is pinned to the top of chat and this is an entire trading ecosystem. You get education modules, you get live chats throughout the day, you get personal one-on-one education, you get group education, you get specialty events on the weekend, you get awesome data analytics, all that great stuff, and you could get a one week trial of the platform for just three dollars. Seven days, Three dollars. And there's no Auto renew or anything like that. So obviously a shout out to True Trading Group one of the few sponsors who's honestly like, really, all right with me prompting all of World War Three to happen on. Twitter So I'm laughing at it I Don't think they necessarily laugh at it. they're like whoa. Okay, but in the end of the day, they're not really going to stop hanging out with us as long as you guys continue to show them a little bit of love. So it's an awesome, awesome partnership. So with all that out of the way, let's get rocking with episode whatever number this is of the Matt Coors show. Dao closes more than 600 points lower after indecisive midterms crypto sell-off. So those are the two major things we're talking about. We're talking about the midterms and the market going down today. Yes, people are probably worried about the big big inflation report that comes out an hour before the Market opens tomorrow 8 30 a.m ET and also with the election, they don't. The market doesn't like uncertainty, so the fact that our Congress situation is not figured out and then, also, well, crypto's going crazy. But also inflation. We just have three big uncertainties right now and generally that is not good for the market. So if you want to see what's going on really here. uh, the Spy down two percent, the NASDAQ down 2.3 and the Russell the small cap sector down 2.7 percent. But as you can see, it was pretty much an overall bloodbath. I mean Meta ironically was the only green one and they ended up having to lay off 11 000 people to go green to today. So another way to put it is basically right here. Uh, just a little bit of a South Park thing going on. But if you thought that was red and said take a look at the heat map for crypto, they had to invent new colors of red to possibly pull this off. They needed it darker, They needed it deeper. They needed it scarier. I Swear they were on the phone with Crayola this morning and like you don't understand, this is a rush order. Crypto is plummeting and obviously that will be a main aspect of today's show. But before we get into that, we got to talk about elections. Yesterday was the midterm elections, and unfortunately we have some of the answers, but not all of the answers. Midterm elections Republicans are projected to make gains in the U.S house, which we all kind of knew. But the big thing up for contention up for a lot of seats a lot of important seats was the Senate and all of a sudden this whole Red Wave the red tsunami turns out to be a little bit more of a ripple, almost like a Mist like something to probably just piss off a cat. A set of close contests will determine whether Democrats keep their Slim majorities in the House and Senate or if Republicans will seize control of one or both chambers of legislature. It's pretty Apparent at this moment in time that Republicans will have the house. The thing that has a big question in Market a question mark around it is going to be the Senate Democrats Picked up a pivotal senate seat in Pennsylvania with Republican Oz conceding the election to Fetterman. This surprised a lot of people, especially because Oz had the backing of Trump and Fetterman had a stroke and didn't campaign for many, many months and he ended up winning. So right there, that was actually a big big showing by the Democrats or maybe another way to say it is not so much of a showing by the Republicans critical Senate races in Georgia Nevada and Arizona that will determine the majority were still unresolved according to NBC. The Georgia contest where Democrat Warnock was going against Herschel Walker will head to a runoff on December 6th. So unfortunately, we're pretty much a month away from really knowing the concluding numbers here because of the way the state of Georgia does it, the fact that they were so close very very some margins. They're going to do a whole other runoff as neither candidate will Garner 50 of the vote NBC SMA that Republicans could pick up nine seats, giving them 222 seats and a slight Edge over Democrats in the house. So what you need to know really here is when we talk to the house: remember: Congress is comprised of two different parts or Congress has the house and has the Senate. Generally, when you get to the midterm election halfway through a presidential stint, usually you see a big switch. Basically, it's just the political pendulum coming back and forth. They get tired of one side, so they're like, ah, whatever. life sucks. Let's see how these other people do it for us. What's interesting here is obviously: Joe Biden is currently the president and he's a Democrat So typically the expectation is that it goes hard. Republican What's strange about this one? and many people were expecting it And many, many people were wrong. I was expecting it. Many people were expecting it just because that's the pattern. That's what polls were saying. especially when the Market's not doing the best. We have inflation. There's worries about what's going on in Ukraine with Russia and Europe all this crazy stuff. Whenever you have that kind of pandemonium, it makes sense that there's going to be. You know, the pendulum goes the other way. What's crazy about this though is the pendulum went the other way, but just barely. In fact of the power of retaking from like the non-incumbent party, this is the weakest performance we've seen all the way back to 2002.. So for whatever reason, there was this big big assumption that the Republicans were going to show up hard and either they didn't show up and the Democrats just did better or just whatever it was Democrats This was a big win for them. Overall, the thoughts of what was gonna happen, it wasn't anywhere close to that. Uh, obviously the Republicans will get control of the house. They need 218 for control. Estimates are probably going to be between 220 and 220s or 2 222 is most likely where they're going to end up. That's the most recent thing. I read: uh, but the original estimates is that they would have far, far more control now. Obviously, as we were just alluding to, the thing that's really up for contention is the Senate. Right now it is 48 48. That is close. That is the thing that gets people feeling all sorts of ways and fighting on Twitter. So obviously I needed to add into it and I didn't add into it in a political way. it was much more of a hey, let's see what I can say in general about the markets and we'll talk about that a little bit later. But the ones that are was a surprise was Pennsylvania And in fact as the numbers continue to come in, Fetterman's lead is getting larger and larger. but heading into the election Oz had the lead so that was a big mess up by the polls. Nevada and Arizona were still waiting on and the one that we're not going to know until early December is going to be Georgia right here and they are in a dead heat right now. Absolutely tied 48-48 and this will have a this will be interesting is people are going to get mad without a doubt. Uh, so even though we have that you know the numbers of the Senate You know the numbers of the house. You understand all so that from a pattern seasonally, this is a bullish period. You also know that in a midterm election years after the midterm, all the numbers are solidified. That's also generally met with a bullish reaction within the market. So I the fact that we all know that I wanted to cover some things that maybe you just missed about this election: 25 year old Maxwell Frost will be the first Gen Z member of Congress this dude is 25 and he's already in Congress What in the world am I doing with my life? Congrats to him! Voters approve higher minimum wage in Nebraska and Washington DC votes still being tallied in Nevada and then last but not least, here's how five states voted on the legalization of recreational Devil's lettuce. Uh, What you're about to find out is two states are pretty cool and the other three states are kind of lame. If we had to be honest. Maryland Following the passage of Maryland's Q4 adults in the state will be allowed to possess up to 1.5 ounces or two marinara plants. We'll go with beginning July 1st of 2023 Missouri Approved the state's Amendment 3 which removes existing prohibitions on Jazz cabbage and allows adults to purchase and possess up to three ounces and grow up to six flowering plants at home. so those are the two like. Pretty cool States Now let's get to the three laying States Voters in Ark Kansas rejected Issue four which would have allowed the purchase of up to an ounce of marinara from licensed retailers North Dakota and also South Dakota Both just said no, we're not going to do it South Dakota would have legalized possession for up to one ounce and then in North Korea North Dakota would have allowed possession up to also one ounce. But so the Arc Kansas Arkansas North Dakota South Dakota All super super lame. but a shout out to anyone who's watching for Maryland in Missouri It sounds like your states are kind of getting with the times. Uh, it's insane that we still have to discuss this in a country where certain states it is fully legal, no issue at all, and then in other states, people are still sitting in prison. This is one thing that it blows my mind because it's so insanely backwards. It's so insanely stupid that people are rotting way in prison just because of where they were in the same country with a plant from the Earth that it blows my mind. I Don't want to go off on a tangent there because we'll be here all night of how just incredibly stupid that is. In case you missed it, Crypto is exploding right now, but is exploding in like a very negative way. like it's going down down. it's not exploding to the moon, it's exploding to like really the bottom of the ocean. Recently you might have been hearing about FTX and finance and that kind of craziness. Well, we have some major major updates for you Now to get to those updates: I very very quickly. Want to go? Really? just. we'll speed run the history of the current situation. FTX You probably heard of it because it was the one company that, while everyone else was seemingly struggling ever since the Terra Luna Blob Anchor Celsius Voyager 3ac Uh, blockfolio like it just went on and on and on and FTX was the strong one buying them all. So you probably heard of them and now you might be thinking, Well, that seems to have taken a pretty crazy 180. So we're basically going to be talking about the death of FTX and also the current real-time crash of Crypto. Now obviously it's super easy to Monday Morning Quarterback I'm like you. We just see all the success of FTX but just to paint a picture because we're here too. Monday Morning Quarterback Let's see if we could connect some of those dots of where things went a little bit awry. If you go back to August, you'll know that the CEO At that point in time the co-ceo of Alameda quit and Alameda is a crypto hedge fund also owned by Sam Bankman Freed who for the remainder of this all business is calling SPF because we don't have that kind of time. It's Sam bakemanfreed SBF So anyway, he was the CEO of both of these of Alameda and also FTX And for a little bit there people were saying they seem to be closely intertwined mind is that right? But because he was just so dominant and so powerful, no one really stopped to ask any hardcore questions. So anyway, the co-ceo of Alameda stepped down in August. Fast forward to September and then all of a sudden the President of FTX stepped down. So two important important figures step down and at the time everyone's like wait, what and then like no, no, we're just doing better things with our life. Not an issue whatsoever and everyone's like oh, okay, and then right after that in October there was a probe from some sort of Texas regulator into FDX and everyone just kind of assumed. Oh, this is like another thing the way right now the SEC is pretty harsh on Crypto Library just lost their case. Ripple's still in their case. It was just like it's just another crypto related thing so it was kind of easy to miss all of this. Now in reality, this is a crazy crazy story of taking advantage of your clients, your investors, and really just pure old greed. just extreme extreme leverage and not paying attention to any of your risk. That pretty much brings us to the start of November where we are right here: Tensions between Crypto: Giants FDX Finance Spit into the public View even though they're spilling into the public view I Think this is very important and I wanted to include this clip because out of all those things I just listed, you might be scratching your head. Well, if they're spilling into the public view now, why weren't these things apparent beforehand? Why was everyone just throwing money in I Mean we're talking BlackRock we're talking Sequoia We're talking Paradigm We're talking freaking Tom Brady Well, this is how we all missed it. This is exactly how it says: FTX has a responsibility to seriously consider stepping into the time to save companies. Why did you have that sense of responsibility? It's not going to be good for anyone long term if we have real pain, if we have like, real blowouts and uh, and it's not fair to customers and uh, it's not going to be good for regulation. It's not gonna be good for anything and so from a longer term perspective, it's just. that was what was important for for the ecosystem is what was important for customers. It was what was important for people to be able to operate in the ecosystem without being terrified that unknown unknowns. We're going to blow them up somehow. without being terrified that unknowns unknowns would somehow be blowing them up. Talk about some crazy foreshadowing. I Mean the authors of this reality like they know they're very classic writing techniques, but that really dives into it. Think about it psychologically. People just want to be like oh, this is the guy standing up for us. This is the guy who played it right. He has the money. He's gonna backstop it because crypto wasn't doing the best. We hit 69 000 in November of 2021. Obviously it's been a pretty brutal sell-off Everyone wanted this to be true. Everyone wanted Sam Bankman Freed to be the good guy who's not only going to fight for the little guys, but really kind of keep the crypto ecosystem at least in the short to medium term kind of going. I Personally think that's why everyone was like easy to overlook it. We had certain blinders on that maybe you just didn't even know was a Blinder Unfortunately, those blinders were ripped off a couple days ago. Divisions in Sam Bateman Freed's crypto Empire blur on his trading Titan Alameda's balance Sheath. So I know this gets like a little bit maybe specific in the world of Finance but I promise you, if you just stick with me, you're gonna understand everything. As of June 30th of this year, the company's assets amounted to 14.6 Billy its single biggest asset 3.66 billion of unlocked Ftt, the third largest entry on the asset side accounting for The Ledger a 2.16 billion pile of Ftt collateral. So right there, just under 6 billion. 6 billion with a B is in one way or another related to Ftt. If you've never heard of Ftt before, this is Ftx's native token. Basically, they were functioning as their own. Central Bank They created money out of the ether and then they put it on their books. So they had 14.6 billion in assets, 8 billion in liabilities, and almost 6 billion of it was just their own funny money. Well, this report came out in early November and then all of a sudden people started to do a deeper dive. Remember how I said Ftt accounted for about 6 billion of their assets? Well, that's weird when Ftt itself has a market cap of 3 billion. So right away Flags started to fire off. I've previously done some videos I'm sure you've already seen this on Twitter but this is what led the CEO CZ of Binance to make a tweet that was eventually the downfall of FTX. And also if you ask me, this is probably one of the most Cutthroat brutal business events we have seen. not only this year, but I would say probably in the past couple decades Binance's CEO CZ is not messing around. So basically he saw all of this and then he went out. he said hey, we're selling our Ftt and then a follow-up tweet. he said learning from Luna and everyone's like whoa, True or not, the fact that he Associated this with Luna the thing that really has been keeping Crypto down and blew up everything Celsius anchor Voyager 3aoc the list goes on and on and on. The fact that he associated with this After this information came out, this was such a brutal one-two punch that eventually led to not only a KO but if metaphorically I had to explain what happened here. basically one two punch, he's down and then he took a knife out of his pants and slit his throat. It was so incredibly brutal because it prompted what's referred to as a bank run. This was a digital Bank Run and from there you see all the reserves just dwindling. there was like billions was getting extracted because people were panicking, they didn't want to lose their money and it got insane. It got so insane it led us to this: Finance is strongly leaning towards scraping FTX Rescue takeover. After a glance at the books, it was so bad no one wanted to deal with FDX The rumors are that they were going to everywhere in Silicon Valley to see if anyone would give them money to stop this absurd liquidity. Crunch And everyone said no, Go f yourself This is so bad. The holes in your book as of now as of the time I'm filming this anywhere from six to ten billion dollars. That's the holes in their book right now and most people are centering around 8 billion. So picture this: This one guy publicly destroys your entire company and your life. We're going to be talking about his own financial situation in a second. It's so bad that you have to go back to him and be like here. Can you take the leftovers of what you destroyed? Please? Like maybe so they were going to get into it And then Binance looked into this situation and I don't even think they realized how bad they destroyed the company they did some. DD They had a letter of intent that lasted for basically one day and then they're like no, we are out So this is the biggest news this is as of today obviously. I have the other videos feel free to check it out but this is the major day I Just want to give you the rundown. The major news right here. Binance had a letter of intent was looking into getting it and then they were like whoa whoa whoa whoa whoa whoa we're done so and they pulled it out and it basically led to this: Bitcoin vomiting from 21.5 000 to right now sub 16 Ethereum Seventeen hundred to a thousand ftt. That token we were talking about went from 26 to a dollar Thirty even Solana is vomiting from 36 all the way down to 14. obviously it is a bad bad situation and if there was only one one thing that we could have all known, it had to go in a bad Direction Well as always, all roads lead back to the inverse. Kramer JP Morgan of this generation Sam Bankman Freed's FTX yes he's literally calling them the Warren Buffett of Our Generation average fees per transaction across the industry. We should have known by 50 percent. To be fair though, it's always fun to bag on Kramer but much of the world right here Fortune The next Warren Buffett Everyone was just throwing as many accolades as they could at this guy and he kind of told us himself I mean listen to this. This is in front of a room of lawmakers I Think that I'll say is if you look at what precipitated some of the 2008 financial crisis, you saw a number of bilateral, bespoke non-reported transactions happening between Financial counterparties which then got repackaged and re-leveraged again and again and again such that no one knew how much risk was in that system until it all fell apart. If you compare that to what happens on FTX or other major cryptocurrency venues today, there's complete transparency about the full open interest. There's complete transparency about the positions that are held. There is a robust, robust, consistent risk framework applied, and we're excited to work with the Cftc on our U.S license and regulated venue. Um, to bring a lot of this. Uh, last thing that I'll say is if you look at so he's saying everything you need to. but then behind closed doors is the complete opposite. Look at this: FTX is some mutant combo of lemon liquid illiquid excuse me under capitalized and MF Global illegally used client funds to fund its own terrible Investments This is what FTX did and it's the same guy who said that in front of lawmakers have sounded all good, like it's great we're playing by the books, we're protecting everyone and that's how we got so many people to invest. and man oh man. But to be fair, he told us the truth. Bakeman Freed warns some crypto exchanges already secretly insolvent. He just didn't add a little bit on that. It was him himself he told us I mean honestly, I don't even know how much we could come after the dude. He said it right here. they are secretly insolvent and I guess he was literally just giving us Insider information about FDX He's like pointing he's like I'm I'm the one who's secretly insolvent. Wild Wild wild. And then that leads us to the grand finale of today. Binance backs out of the FTX rescue, leaving the crypto exchange on the brink of collapse. In fact, Bloomberg said it was worth one dollar. Binance says it will walk away from the deal to buy FTX Our Hope was to be able to support Ftx's customers to provide liquidity, but the issues are beyond our control or ability to help. That's verbiage from the number one crypto exchange on the entire planet. Binance pulls out of deal to acquire rival crypto exchange FTX the rapid collapse of FTX built by the billionaire Sam Bateman Freed suggests that no company in the free Wheeling Loosely regulated crypto industry is safe The Cryptocurrency Exchange Binance has pulled out of the deal to save its rival FTX A blow to investors who had hoped that the agreement would help them retrieve funds after FTX collapsed this week. Every time a major player in an industry Falls retail consumers will suffer. We have seen over several years that the crypto ecosystem is becoming more resilient, and we believe in time that outliers that misuse user funds will be weeded out of the free market by the free market. Well, I don't want to hold my breath but I mean I hope we get there. but I should say that I don't want to hold my breath and obviously this is the big commentary from mainstream Finance media on the matter. So Binance's deal to buy FTX is officially off the table. We have a statement here from a Binance spokesperson. They say as a result of corporate due diligence as well as the latest news reports regarding mishandled customer funds and alleged U.S agency investigations, we have decided that we will not pursue the potential acquisition of Ftx.com They go on to say in the beginning Our Hope was to be able to support Ftx's customers to provide liquidity, but the issues are beyond our control or ability to help. Scott This had been a non-binding letter of intent, but the deal not going through according to that statement. So Binance's deal. So just to be clear, that was the official statement from Binance after they backed out of the deal today. just wild pandemonium and I want to share my thoughts on maybe a better way to kind of handle this. uh, maybe more of a fair way. and I want to get your thoughts but before that, couple other extra things to share. FTX Pro By Regulators over handling of client funds and lending, this isn't a company just going bus. This is now becoming very, very big in terms of the justice system. it is absolutely wild. And also to add on top of it, the past 36 to 48 hours for Sam Bakeman freed have been financially brutal. He's was worth over 15 16 billion and now he's worth negative monies. FTX CEO has gone bankrupt. He personally still owes over 650 million to lenders. Imagine that Imagine in one to two days getting publicly ripped apart and then your own financial situation. Not only were you I mean at one point a billionaire God doing whatever you want and then in a day and a half going deeply, deeply in debt. Our wall like SEC is now investigating you. Absolutely insane. Truly, truly insane apparently. Michael Lewis Famous finance writer was writing a book on the success of FDX. He was at the Super Bowl with MN multiple trips to the Bahamas to cover, it looks like he just got his ending. The problem with crypto, as in most things is the leverage. If you don't know how much Leverage is in crypto, you don't know anything about crypto no matter how much else you think you know. And this was from Anonymous June of 2021 and this is from Michael J Bury obviously famed from The Big Short And it's interesting to me that so so much of this is really common lessons that you need to learn in the market. Whether you're looking at FTX right now or the housing situation or Lehman Brothers or just any craziness in any markets that have ever existed in mankind. it comes down to risk and reward and time and time again we get these stories of people who are overly greedy and they use leverage and they blow the risk out of the water and it might work for x amount of time. Everyone might think you're awesome and you're the smartest person in the room such as Enron and then it blows up in your face whether you're a big big business or all the way down to an individual Trader Everything in the markets boils down to that. What is your risk and your reward Now to share my opinions on the entire situation: I Mean this is just ridiculous. I I mean I Very very much hope that some big player steps in and honestly I would argue to recoup all the small people on FTX and what I mean by that is anyone whose account was let's just say below, a quarter million dollars because those are the people who it's truly impactful to their life Like that's the difference between them having food on their table or not. If you're a big player, whatever you can suck up the L and you could try to figure it out in a court and they're in the past have been unique solutions to this. For example, maybe whoever buys you you get some sort of debt token and then as time progresses you get fees from all the transactions and eventually that business would buy the debt tokens back. And whoever needs to get the leftover money, you get your leftover money. So I think there are unique Solutions I am no, by no means some like bankruptcy expert. these were just some ideas that would be floating around on the internet and I wanted to share with you because that they were really really smart ideas. But overall, as I showed you, Crypto is currently vomiting, this is not good whatsoever in the long term. I Think some crypto Will Survive Not all crypto I'm still mainly paying attention to Bitcoin. I'm also paying quite a bit of attention to Solana I Wanted to short Ftt today, but I couldn't even on Kucoin and earlier today it was at 390 and right now it's trading at 190. I would already be up a massive percentage, but that just shows you how nuts things are. So for me, the main crypto projects I'm really talking about Bitcoin I'm just looking to buy the dip. I think with all this, I'll be able to get a more Bitcoin probably closer to ten to twelve thousand dollars. That's my personal estimation. We'll see how nuts things get, but I'm still in this for the long term. I Want to be very clear with that and to wrap this part up: I Want your thoughts? please? In a comment below, let me know what you're thinking about crypto right now and all this pure chaos and pandemonium? Let me move. Uh oh uh, are you guys still here? Oh, there we go. It's not the only chaos in pandemonium going on. Uh, Tesla sinks to almost a two-year low on Elon Musk stock sales. so let's quickly bring this one up. Oh old. Tesla old Tesla Vomiting. Hardcore, Hardcore. Uh, it went from 313 to 177 Lickety Splickety. And it's being made worse by the fact that the CEO founder well, he's actually not the founder. The CEO himself is selling quite a bit according to Fong's published Tuesday Elon Mussel. nearly 4 billion worth of Tesla shares. That follows to sell billions of dollars in stock. Last year and earlier this year, Tesla stock has been sinking for much of 2022 due to economic concerns and Musk's purchase of Twitter. So yeah, the economy is not in any way helping them. In fact, it's providing a lot of headwinds. But on top of it, he had to sell some to fund this crazy 44 billion dollar takeover of Twitter And unfortunately, not all the funding came through. so he needed a cool another four Billy that he found under the couch named Tesla. So even though things are pretty rough right now, it was made more rough by Elon Elon Musk Took over a struggling business with Twitter and has quickly made it worse. If you read into this, this is a lot about ads and how certain advertisers are pulling out. I Have to admit the advertisers that are pulling out now just because Elon owns it I Think they could go kick rocks Pfizer's like I'm gonna pull out as if anyone's going to Twitter to look at the Pfizer ads and be like what drugs should I buy next and like do you have all these car companies posturing honestly I think it's silly I think they're just doing some sort of weird virtue signaling and don't understand their base because as many advertisers are leaving, I'd be willing to bet that new advertisers are going to come in. do I know if that's going to be the same amount like we'll end up netting out to zero I Have no idea, but there are other business things legitimately going on. Elon Musk Reverse his course kills New official designation for Big Time tweeters So in a way this relates to the whole eight dollars a month where you two can get verified in his latest series of changes to Twitter verification system Twitter Owner Elon Musk said he killed the new official designation Wednesday that had already started rolling out for some time on the platform's biggest names. So what was weird was there was check marks and official and then he killed it. But as I checked right before I started the stream today, he put it back in so it was there. Then he took it out and now it's already back in so some people have a check mark and other people have a check mark and official, uh, kind of a confusing situation. Speaking of confusing, that's a lot of employees that met it right now. Meta is laying off 11 000 employees about 13 of their Workforce many many of them found out at 6 00 A.m this morning. Meta adds to a brutal year of layoffs intact. It's not just that, Meta laid off 11 000 Twitter Cut 50 3.7 000 Lift Cut 700 jobs Stripe Cut 1100 Coinbase Cut 1100 Shopify Cut 1000 Netflix Around 450 Microsoft A thousand snap a thousand Robinhood 31 Chime 160 Tesla 10 of salaried employees You get the gist: A lot of these big Tech players right now. inflation is a very serious thing. They're all telling us that 2023 at least the first part of it could be even worse. And they're just trying to weather the storm obviously. But in a strange note, the market Collective loved it. Meta actually crushed today. They're like, hey, you just ruined 11 000 people's lives. Great. Let's rip it up 5.2 So an interesting reaction, but not really. When you think about it, you're like, okay, cool. The company is now better off because they're not paying those salaries. Maybe they're gonna put people into better areas and be more refocused on the business I Truly understand the Market's reaction to it, but that doesn't really in any way take away, uh, any of the fact that many people lost their job today. But what is a little cool is one of probably the uh I don't know, scorned employees uh leaked a video of what Mark said to everyone Mark Zuckerberg addresses men employees after a mask I know that there's there must be just a range of of different emotions um I Want to say you know up front uh that I take full responsibility for this decision Um, you know I'm the founder and CEO I'm responsible for for the health of our our company, for our Direction um and for for deciding how we execute that including things like this and this was ultimately my call um and it was it was. You know one of the hardest calls that I've I've had to make in in the 18 years of running the company. um and a lot of why it's hard is you know obviously it has a big impact on on your lives um but also you know for our mission we're losing people. Um, who you've really put your your heart and soul into this place and you know each of you is is talented and and passionate. and um you know each of you has played a role in making Meta the success that it is. and um you know no matter what team you may have worked on, um, each of you played a role in in contributing to the products that billions of people use to connect every day. Um, so right there. Uh, a strange video message from the lizard man himself. Uh, very very strange I don't know I've I've probably should have practiced that or got someone I don't something about it just seemed really, really weird. Uh I can't imagine being like hey yeah, you're losing your job and that's like the comfort you get anyway. whatever. This brings us on to our next story. AMC and also the CEO Adam Aaron So AMC reported after the market closed yesterday, they beat on earnings per share, they beat on revenue and they missed on everything else. But Matt what do you mean on missed on everything else? What I mean is what the fuck are they doing I am getting to the point where I find it insane and this kind of also relates to why I was late to the show today because I was just popping off on Twitter Like I said starting World War Three. Literally, if you have time after this and you need a good laugh if you need something to do, check out my Twitter it I I think I started World War III But this this is what I don't get Adam Aaron multi-multi-millionaire He even sold millions of dollars worth of AMC because of proper Estate Planning And he he even leaned into this whole AMC Community He leaned into our culture, the whole ape thing. He donated a hundred thousand dollars to an eight fund like the Jane Goodall funner. He leaned into it all this ape stuff and then all of a sudden he has the ball to go on to Twitter and he'd choke on that and pounce and all this and then his his big reveal. the the the thing up his sleeve is releasing ape to the public diluting the stock which no one wanted him to do. In fact, I know that because we voted no and then they're like no, no, we don't want to do that anyway so it's the most roundabout way to do something no one wanted them to do and then after that he's partnering up with Zoom. Seriously seriously seriously Seriously, who in the right fucking mind wants to go to a zoo meeting in a movie theater? I Would bet in the next quarter that this doesn't even make one or five million like this is stupid. Zoom is literally meant to have people who are remote doing their own thing quickly connect. The point of Zoom isn't to. this is a backwards regression in technology. That's that's crazy. Be like oh, to have this video conference that should instantaneously connect you, you're gonna have to drive to your movie theater. That's his big master plan. That's the plan. fuck me man. and then on top of it more so financially relating to it because Zoom's not a negative thing. I Wouldn't say it hurts the company in any way. it's just not that positive a thing. It's a nothing Burger it's a giant nothing Burger The real issue here is this guy ape down 19 today. In fact, ever since its glorious debut, ape is now down 79. The thing that day one, even before day would have negative something I was like I don't know. This seems a little sketchy. this just seems like a pile of money that he's literally using the Apes to line his own pockets and try to make the company better. And it's just it. Blows my mind. And the crazy thing about this is they've only done 36 million from this, The stock has fallen 80 percent 79 if you want to be specific and they've only done 3.5 percent of the dilution, 3.5 of the dilution, and they've knocked it down 80 fucking percent. Are you kidding me? That's the leadership we're supposed to get behind now. I know a lot of you. you're gonna get all hot and bothered Matt you shill, you sell out. You must be shorting it. In fact, the opposite. You could go to public right now. You can see I own AMC You can see I own ape I have no options whatsoever. no calls, no puts I am long on AMC I am long on ape and you might be thinking why I'm long on this because I support the retail Community I Have no delusional misunderstandings of the situation. the life I have right now is exclusively because of the retail Community 100 percent Bar None It is people within the retail Community who were highlighting some of the pitfalls and the downfalls of Market structure within the U.S Stock market system that is 100 who I owe my current life to and I am so eternally grateful. But with that being said, I own IO fuck all to AMC as a company. Are you kidding me? AMC is lucky to have had us. The reason those people aren't panhandling outside right now because AMC was gonna go to zero is because of you is because of me is because we as a collective all decided to Rally behind it and save the company. It was no big business decision on their part. It was no exceptional leadership debut. They were not the ones calling out the corruption of the market. it was the retail Community who saved them. Fuck all to do with AMC The same exact thing can be said about Gme 100 Bar None These companies are lucky to have had us and if you think the other way at all I vehemently disagree with you and I truly think factually I am right. These companies were saved by us, not the other way around. Who do I own everything to you Watching right now, the retail traders who stood up and made their voice heard nothing about a fucking company and these absolute suits who are now using us to continue to line their own pocket. But Matt What do you mean their lie? Finding their own pocket? Go onto any SEC filing and look at what's happened with AMC over the past 1.5 years. Look at all the selling that's been going on. Not a single member of the company of the leadership team has gone out of their way to buy more. Do they still have some shares? Some of them do, but it's been a selling absolute selling frenzy. Whenever they get it, they sell whenever they get it, they continue to sell. That's how it's going. That's factual. This is not me making them sell or buy. I am literally stating fact to you and I refuse to be one of these like just bitchy in-cell keyboard Warriors sycophant. So we're like, no, they would never do anything against us. The fuck they want, they're lining their own pockets. They should be thanking you for their third mansion in Cabo Let's be realistic about this situation. All these little bitchy, whiny internet people who are followers actual sheep literal sheep of you would never do anything wrong. Fucking open your eyes. It's so insanely crazy that everyone thinks that these actual millionaire suits have their back. If you haven't learned your lesson from this or Sam Bakeman Freed or the Litany of other examples that Wall Street has bestowed upon us. I Don't know what the the Market's not a place for you and you cannot notice that pattern. The market is not a place for you to be. Not at all all right. Also, moving on. just you know. I don't want to forget about it. There are other earnings this week. Uh, before the Market opens. Neil I'm particularly against it. Evie's been looking rough. Also, China's been looking rough and then I'm actually bullish on Ralph Lauren I Know that was a weird juxtaposition, Uh, to be able to go from that to this. but hey, fuck it, that's where we are. You should also know that tomorrow a big big day Thursday November 10th An hour before the Market opens, we get the CPI report the Consumer Price Index Report. This is the next inflation report. Expect a massive reaction in the market when this drops at 8 30. and also just so you know you might want to thank a veteran. Friday November 11th is Veterans Day That's what I have for you I don't even know what timer. Oh dude, we're on time. Hey look at that. That all worked out. that all worked out. Uh, so election crypto blowing up. Uh, we have craziness with AMC and we have Veterans Day We have an inflation report. Dude, What a week. What a freaking week. This is the week I Love doing my job well I love my job every single week. but this week it just gets you going I don't even. it's just all adrenaline like uh, we're just going 24 7.

all right. Uh, I would love to answer any of your questions. and hey, maybe some of you people in here hate me and you want to fight with me and explain that? That's cool. we could do that. I'm I accept that I could be wrong on certain things. that maybe I'm not looking at it the right way 100. Let's do it. Let's talk about your questions. Let's whatever you need to say. Do whatever. Uh, don't forget to check out TTG it's pinned to the top of chat true Trading Group A one-week trial for just three dollars if you want to become a better Trader If not, hey, do whatever you're doing. That's also cool. Um, also, don't forget to like And subscribe like on YouTube helps with the algorithm like on Rumble it helps with the battle leaderboard and I love kicking the shit out of other content creators because I'm an egotistical, narcissistic views whore. That's just how I run my life. And don't forget to subscribe. If this is the type of cult you want to be in, where we have fun most days, it's the fun cult. All you have to do is hit that sub button that was epic. Thanks Mark And you rock! Goonies Trump and Dad Shout out man, that's so nice of you. We don't slander white Jesus. Go! Bucks uh we are ducks. Rumble is cockroaches okay, that's getting aggressive between the two chats. uh dumbasses. want to look rich I actually mowed in the dark yesterday. that's Matt swears more at night dude I got fired up on Twitter I single-handedly started World War Trace man I made 30k in AMC ugh I Feel free I Don't blame Matt for losing my money but I hope he realizes how uh, retail loss loss loss I 100 recognize how retail loss and it's because of my okay let me try to explain this even okay. I'm trying to think of the way where like it like it would be a good debate. Okay let's say that you could argue is Matt a good person or a bad person you don't know Like let's just say hey I know a lot of you. maybe some of you have met me in real life, maybe some of you have DM me and we've chatted something like that. but let's just say we don't know if Matt's a good guy or a bad guy. Okay, let's let's not think about it like that of like oh I I just I believe in them or I absolutely hate them. Let's think about it in terms of just in the most selfish manner ever. Me: Matt I'm running a business I have to play employees I have to put food on my table I have to pay for duck petting at Duck shoes Okay so I have some bills. In a pure business sense, it makes the most sense for me to always 100 have your back. Think about it. The things that I say right there you might be thinking that uh I said some negative things about AMC and I somehow sold out or something like that. Do you realize that if I'm saying something I don't believe in or if I'm wrong and I'm steering if I think I'm steering people in the wrong direction how that would just blow up my career. How I would no longer get the YouTube checks I would no longer have sponsors in the most selfish way ever I do better as a content creator if I give you more accurate, truthful information even if you don't like me, you're like, well, that mad kid he called it outright. If I call things out right, you come back for more and more and more. like even take all the emotion out of it if you think I'm good or bad and I hope you think I'm good. But let's just think about purely in dollars I make more dollars if you make more dollars. That's pretty much at the most core base business relationship we have with each other is if I do better, you do better. If you do better I do better. It's always a win-win This is a a synergistic pair of social relationship we have going on, and that's what it is. You don't like, You don't have to guess on the other things. If I do better, you do better. You do better I do better. It's a win-win So this whole concept of like trying to like, mislead or say things he doesn't believe like no, that that's not a good look because then eventually my business fails and if my business fails I have to go back to Corporate America and then I don't do this anymore and I don't want to go back to Corporate America So even in the most greedy capitalistic senses, you're guaranteed the fact, especially when it comes to money being on the line. even my own money on the line. like literally I'm invested in it of course I want everything I to do to be 100 right because I make more money off my investments I'm more impressive to you. so you sub you like you watch and then it becomes like a bigger and bigger insane Financial media personality scenario. Um, so this whole concept of like understanding the dynamic we have and what I'm attempting to do for retail I view it as simply as this: if I am always endlessly fighting for retail if I am always the person to the best of my ability to be in your corner and fight for what I truly think will be an optimal outcome for you. Well, that's the business model right there. So 100 I truly truly understand it. Uh, you open a can of worms Michelle wait what what did Michelle say? Not sure I suppose they all are love Mvy I don't know what Envy is Deliverance banjos always a Sniff and check the toilet before flushing uh Crump and sniff is Rubble What are you guys talking about? All right. Imagine some of the Matt I respect the point of view, but imagine selling out theaters to people who can zoom into Live Events such as Olympic signaturations Zoom has potential? No, but it doesn't because why do you have to zoom in? Why wouldn't you just partner up with NBC Who has the right to stream the like? You don't need to go through zoom In fact. uh, zooming a an event like that is illegal because people own the copyright. You should be partnering with the NFL so the NFL shows it there. You should be partnering with the MMA you should be partnering with. Like you said, the Olympics you can't zoom someone else's event. That's super illegal. and if I want to go watch it I just go watch it that that should be the partnership. A Zoom is exclusively for people to talk with other people. Zoom lasted call to hey yeah, it's just wild. Former FTX employee says that Sam Bakeman Freed is missing and most likely On The Run What no way. Holy shit. Seriously the downfall. Wait where did you see that wall? Uh, hang on I'm not seeing it come up. I Don't want to pass foreign. the hedge fund operated this was one hour ago. Is he with Dokwon? Um, hey. I'm trying to fi I can't I can't corroborate that story I Did a quick search but it's not popping up myself. It'll be crazy I Mean we could Uh, I mean his life like it fucking blew up I Don't know if it's true. We'll cover it more tomorrow. That's absolutely insane. Okay folks, that is it for today. That's this episode, the unnamed episode of the Matt Corey show. Uh, we'll be posting some content later on today and then we're gonna be streaming once again tomorrow morning. 9 A.M Wherever you're watching me right now if it's on YouTube watch me on YouTube if it's on Rumble Watchman Rumble Make sure you like And subscribe on both though, because I appreciate it. Thank you thank you thank you. Love you mucho! Peace out.