Oh brother, oh brother, oh brother. Looks like we got round two of the drops. Let's get this going all right. Join this space and uh, certain people within the government and social media.

Platforms in Big Tech It was a perfect example of it. Yeah, this is a quintessential example of it. particularly when we look into you know, hit Baker's history of being the former FBI General counsel under under Comey and then migrating migrating over to Twitter That's not an accident folks. and uh, just just to be clear, um, it does seem I think we can safely assume now Ian that uh, he was fired uh from Elon did fire him as a consequence of his pretty much key and yeah, and it's consequence of his key role in the Suppression of the Hunter Biden laptop story When she says safe to say I would say so I mean he even said so publicly that he was Exited for the Suppression of the Fire thread the files that you're trying to release right now.

he was suppressing them. He was preventing them from going out. He was literally stopping Barry Weiss and met Ivy from doing their jobs because you know his job as a lawyer to look over things. But you know it turns out that he doesn't want to be implicated in those files because of course he is right.

Of course, he's implicated within those files that they want to release. So there's a clear conflict of interest for him refusing to release those files and now we know why he has been fired or exited from Twitter As Elon Musk says exited from you know told not to look back after he was kicked out the door I love the term exited. that's the that's good. Do we have a date of when he exited today Tuesday Okay was today yeah it was Tuesday today's Tuesday right? I'm I think today's Tuesday it's Taco Tuesday Yeah and Elon just announced it around what? 30 I believe it was just 30 minutes ago or so.

Yep, about a half hour. All right. Yeah, that's Barry Weiss If you look at her timeline, she says that it's been quite a weekend. So it was over the weekend that they realized that this man Baker was, uh, preventing the release of the files because you know and they're good journalists, right? Hold on.

So so Baker was was actively preventing the release of those files. Yeah, that's what it seems like. Yeah, that's what you said. the implication of it.

You would think if you got into a company that big the first thing you would do was find out who's in it so there's no more conflict of interesting. They found a big one. This was an important exit I would say because uh, having him on board is a lot like having Yule Roth on board we he was exited too right? um he says he quit or I don't think he's really clarified whether he was exited or if he left resigned and what do you? What do you assume that this means for the next? I don't know a few days, a few hours because these sorts of things can have very different time frames In terms of right? yeah, what do you? what do you reckon? I Reckon that uh, that now that they have full access to the files or additional files, rather, they can actually sift through more documents and provide us with more documentation because before you know, they were effectively hamstrung from releasing anything because the first release obviously spooked this Baker character because he was okay with that until they realized oh oh, I gave away too much too many Secrets Uh-oh and now it seems like Mataibi has a full reign of this. uh, this project right? this these files and hopefully in the near future, Uh, Elon Musk will release all files to additional journalists I would definitely love to get my hands on them and I think a lot of people and and so in your and therefore because then I think Mario Touched upon this in a thread of his.

but is that why we're not seeing much coverage of this? Then in the mainstream media, there's an effort to, uh to suppress, uh, the importance of this uh of the story, right? Because if you look at a lot of the Op ads coming out, there was one today in MSNBC on the readout blog and it's not really a Blog it's more like an MSNBC op-ed uh as well as on New York Times They They did cover it finally after a few days claiming it was a nothing burger and now they don't have access to the files, they can't really call it a nothing burger, right? I Mean what was disclosed was clearly very, very important. It was perhaps the biggest story of our generation is as big as Watergate and yet they are Keen To downplay it in order to create a framework a narrative that it is not a big deal so that when more files get released than actual, you know documents get get published and there will be. From the looks of it, uh, they'll be able to say oh, look back, they'll look back at those little articles and say oh yeah, Not only are they downplaying it, they're opening an active investigation against Elon Musk in regard to Neurolink. Is that correct? Yeah, I wouldn't But before linking the two, the investigation to Neuralink is not that major.

I think it's it's I'm not saying it's not major on an ethical basis, but legally it's not that major. It's there for animal cruelty. Again, ethically, it's serious. but uh, illegally.

My point is, instead of opening an investigation against these people who are doing these things, they this is all right. Um, they don't really seem to be talking about the specifics of the second Twitter drop. So I found the specifics for all of us. um I was under the impression that that Twitter space call would have Elon on it where they would be going through all that.

But anyway. Uh, we have Matt here who he was given all the information from Elon Musk for the first drop and now we're talking about drop number two and let's just go through it live. I would love to get your thoughts in real time. Uh, thread Twitter files Supplemental on: Friday The first installment of the Twitter files was published here.

We expected to publish more over the weekend. Many wondered why there was a delay. We can tell you part of the reason why on Tuesday Twitter Deputy General Counsel and former FBI General counsel Jim Baker was fired Among the reasons: vetting the first batch of Twitter files without knowledge of New Management. The process of Purdue using the Twitter files involved delivery to two journalists Barry and then obviously Matt via lawyer close to New Management.

However, after the initial batch, things became complicated over the weekend. While we both dealt with the obstacles to new searches, it was Barry who discovered that the person in charge of releasing the files was someone named Jim. When she called to ask Jim's last name, the answer came back Jim Baker my jaw Hit The Floor says Barry The first batch of files both reporters received was marked Spectra Baker Emails Spectra Baker emails right there photo provided Baker is a controversial figure. He has been something of a Zell gig of FBI controversies dating back to 2016.

From the steel dossier to the alpha server mess he resigned in 2018 after an investigation into leaks to the press. The news that Baker was reviewing the Twitter files surprised everyone evolved to say the least. new. Twitter Chief Elon Musk acted quickly to exit Baker Tuesday to exit Baker dude guy got axed.

Reporters resumed searches through the Twitter files material. A lot of it. Stay tuned. The next installment of the Twitter files will appear.

Uh very. Weiss Stay tuned. So I don't know if I could say this is necessarily round two, but this is definitely uh I guess some in between like a bridge round between one and two. This is wild.

Like to see the interconnection of everything. Uh man oh man. So who's Barry Weiss here whis Weiss editor of Common Sense The Honestly: Pawn Interesting, very very interesting Twitter Deputy General Counsel and former FBI General counsel Jim Baker was fired among the reasons: vetting the first batch of Twitter files without knowledge of New Management The process of producing Twitter files involved delivery to two journalists via close lawyer close to New Management. However, after the initial batch, things became complicated.

This is however, that the person in charge of releasing the files with someone named Jim which kills Jim's last name Jim Baker my jaw Hit The Floor The first batch of the files both reporters received was Mark Spectra Baker Emails FBI Controversies Wild. Absolutely ridiculously Wild That's insane. That's pretty ridiculous folks, Man oh man. I Know it was an Abrupt start, but I guess that is the intro to today's episode of the Matt Cores show.

Crazy Crazy. Not technically round two of the Twitter drops, but I would argue a solid Bridge round getting us excited for round two now. I Have to admit I've been running around like a chicken with my head cut off because I was getting ready for the normal show tonight I was getting ready for a crazy day tomorrow I won't be able to do my normal streams, but nonetheless I will be able to, uh, ideally get some extra content out there and people who were paying close attention to my twitch realized that something crazy was going on. Basically, I'm getting ready to stream but not here and I was I was messing around with a gimbal getting all my gear ready, charging up my batteries.

Today's gonna be a big day if it can be streamed live it will. But I know I'm filming a lot of content so even if it's not live, we're gonna get it edited and posted. ASAP But tomorrow is gonna be a spicy meatball of the day. So there it was trying to figure out how to live from my phone and then I was getting messages that we got this Twitter drop.

So I wanted to cover everything for you. That's it. It turns out that this gym guy I just want to make sure I'm getting his last name Jim Baker the guy I like who is lawyer connected to New Management I'm assuming Elon and FBI like this is a debacle folks that's crazy. Make sure you're all checking it out on Matt and also Barry's uh I guess Twitter they're gonna be.

There's no set date for the official drop of number two so I think we're going to be all just kind of waving around to see when it comes out. I'm gonna like and retweet This Thread now so you guys could all read it but we kind of already went through everything and I guess I guess this is what people get paid the big bucks for I Suppose it's time that I just try to impromptu put together the entire other show that I was working on for a bit. Uh, kind of actually nuts I mean we'll see how we can put this all together. Uh, let me see if I can do it right about now.

let's see how it goes. Dao Falls More than 400 points Tuesday as selling intensifies bringing two-day losses to nearly 1 000 points this is. look at the Spy I know at first it's kind of ugly if I clean it up, you can kind of see the vibe of what's been going on ever since we started the year we sold off. we bounced, We sold off, We bounced, We sold off, We bounced.

and now the question is, are we gonna sell off again? A quick side note here this upward: Channel where you have kind of a parallel line between the new highs and the new lows. this is referred to as a bear Channel Because they commonly break to the downside and a lot of people are wondering is that's what's happening right now Depending on how you connect it or how you don't connect it, it looks like between yesterday and today, we broke to the downside. Now obviously it could be a fake out breakout I Had this region of support that we bounced off of kind of and now we're holding above it I'm waiting to see how this all plays out obviously turn around Tuesday if you watch any of my content from yesterday I was saying hey, I think it's time to be bullish I Honestly still kind of Harbor those thoughts because I know today was turnaround Tuesday Obviously complete bust the Spy drop 1.4 But we also know that tomorrow is a very seasonally strong day, so maybe it finds support where it has ever since mid-november Support Support Support. Maybe we get the bounce off of this, maybe a retested this trend line and then from there we either break out or we break down.

Or who knows, maybe wake up tomorrow and it's just going to be a continuation of this absolute bloodbath of a scenario. and we continue to sell and sell And sell. That's also a very fair possibility. All I continue is tomorrow.

From a seasonal perspective, if you're looking at the fifth trading day of December I Want to make sure it is the fifth day? Yes, the fifth trading day of December which this year happens to be December 7th is a very, very bullish day. Does it mean it's a hundred percent bullish 100 of the time? Absolutely not. That's just not how it works. but I just want to let you guys kind of know where we're at.

Turn around Tuesday was an absolute Buzz We broke below the trend line. Fortunately, we caught itself. The Spycon itself has support in the low 390s, but let's see how it all plays out. I Want to bring up to you this fact that if 390 doesn't hold, if 390 on the Spy does not hold I would feel extraordinarily confident about this Gap filled down to 381 14, which was created between Wednesday November 9th and when Thursday November 10th.

Just want to put that out on everyone's radar. So I'm watching for the support in the low 390s if we bounce I'm looking for a test of 400 401. If we don't get that bounce, if it breaks down I'm first watching 390 then 381. Obviously a pretty brutal day if you want to look at the heat map of the S P 500 Here we are slaughtered, slaughtered, slaughtered.

Um, Crypto in general I Mean it's been holding this is the four hour chart. Recently we had a nice bounce and now it seems like hopefully fingers crossed. the contagion related to FTX is finally calming down so it just hasn't been moving much. I mean Bitcoin pin to 17, 000 Ethereum pin to 12.50 That's just kind of where we're at in crypto.

That's where we're at in the overall. Equity Market The one thing and we could get into this in a second. Um, the one green thing on my list besides volatility is rum. Uh rum.

A nice four percent gain kind of bucking the trend of what we're seeing in literally the rest of the market. So uh, shout out to everyone in Rum. Overall: if I had to explain what's going on in the market right now, it's Yes, there are some technical developments. We did have a technical breakdown, but on top of it, you might be wondering.

Well, why do we have a technical breakdown? The reasoning is honestly pretty simple right now. people are a little apprehensive of what's going to go on with the Federal Reserve the Federal Reserve Jerome Powell the money printer go Burr type of dude daddy pal, the guy who decides if the stock market's going up or down. A lot of people are wondering what's going to happen a week from basically tomorrow next. Wednesday December 14th We get that Fomc meeting and they're going to tell us what kind of rate hike are we going.

A lot of people are thinking it's going to be 50 bips, but there's still a little bit of a chance at 75. Pips Because the recent economic reports were good, which theoretically means that the economy could handle a little bit more of aggressive monetary policy to battle the inflation, that's still 4X where it should be. That's the reasoning. Maybe you agree with it.

maybe you don't agree with it, but that's how the market is currently seeing the situation. In all reality, we're getting some decent economic reports right now. But overall, the why this particular week like the Market's kind of quiet. The Federal Reserve those members who are in the Fomc meeting next week it starts on Tuesday concludes on Wednesday It's a blackout period so they don't talk to anyone for the this week and next week until we get the report at 2 p.m on Wednesday.

So right now, no fed discussions and in terms of macroeconomic reports, we're in between major weeks. We already had the unemployment report. We already had the Pce report. Next week is going to end up being quadruple witching and that's where like a lot of different contracts expire Futures and options.

This is that awkward in between week. So that's honestly part of my thesis of why I Thought we were going to bounce today I Thought there was just going to kind of be premium burn of people not really having the strongest opinions of this exact week. But as of now I mean yesterday, the overall: Market lost 1.8 percent. Today we lost 1.4 percent really the past four days after.

since Powell pumped the market up on Wednesday of last week, we're basically just right back to where we were. So we undid this optimism from when he was speaking at the Brooking Institute Wednesday of last week. and now we're exactly back to our old battling ground. That really, we just undid all of our moves all the way back to about November 11th, November 10th.

So we just hit a pretty nice reset button. Now with all that being said, I know we're speaking a little bit in like maybe a shorter interval of time, but let's talk about a little farther out. Yes, if you stretch it out a little bit. overall, December is very bullish.

That's why we have the seasonal. Santa Claus rally push. Might that happen this year? Yeah, the odds say yes, but that's obviously not guaranteed. What I really want to talk about is if we go out even further.

What happens if we go out to 2023? A lot of people talk in recession Jamie Diamond says inflation eroding consumer wealth may cause recession next year and so he's the guy at. JP Morgan Obviously very wealthy, very influential, but a lot of big banks have been calling this out of saying hey, okay we the way we see what's going on in terms of like the cushion of save money and the way it's eroding of it could spell big issues about mid-2023 Do I think that's going to happen I In fact, do I just don't think it's going to be as as Extreme as some of the Doomsday calling that we hear. uh, remember, there's recessions that have happened that you probably didn't even know we were in a recession. And then there's other times like right now where things are a little bit wonky, but we're technically not in a recession so I Want to clarify that I think there's a lot of emotional feelings around the word recession, but like I said, sometimes we're in one and most people don't even know and then other times it feels like things are pretty crappy and still the nber the organization in charge of saying if we're in a recession or not.

um, they this time around have not really said anything. but anyway Jamie dimon interesting scenario of really why I'm bringing this up. Inflation is eroding consumer wealth and may cause recession. So for quite a while now it seems like the financial sector, the Big Banks and all those related players were pretty like solid.

Pretty pretty Rock Solid but now even they are on a little bit of shaking ground if you will. Morgan Stanley Uh, cut about two percent of global staff on Tuesday Now a lot of the recent I guess jobs I mean I guess Twitter dominated it, but that was more so of people getting fired because he didn't think they really were working well, but even just big Tech In general, like we've had heard murmurs of Apple Microsoft meta Netflix So this goes on and on and on. Obviously a lot of crypto companies, but thus far it hasn't been in the world of Finance until today. This is what I would say is actually kind of a noteworthy pivot in this whole situation is now even Finance is getting a little impacted which I have to admit, uh, a little concerning and this is probably.

it's interesting that the same day that JP Morgan was like hey, uh, we might be going to recession Morgan Sandler's like, well, we got to cut two percent and they weren't the only ones today BuzzFeed to cut 12 of its Workforce Now granted I would argue this is like a little bit more Tech Centric In all reality BuzzFeed I did see a funny meme about this I hope I can track it down. All my stuff is a little bit out of order right now. Uh, hang on, let me see. uh BuzzFeed it cut 12 of its Workforce another toxic company letting go of employees who will need to get real jobs I Just thought it was a little bit humorous and whatever.

So another big piece of news today was this guy right here. The guy that we cannot Escape their story Sam Bickman Freed hired the same attorney to that defended Gisele Maxwell and El Chapo of course his name is Mark Cohen Uh, obviously an extremely heavy-hitting lawyer is now officially the lawyer of Sam Bateman Freed. And obviously what? what company this Mastermind has Maxwell and El Chapo Like come on wild wild wild wild. Uh, a sub thought I had on this whole ordeal was allegedly he only has a hundred thousand dollars left to his name.

So I'm just kind of curious of how did he afford one of the world's best lawyers or best, however you want to Define it uh, one of the world's probably priciest lawyers. hundred thousand I mean that might be a retainer for that guy? uh I Guess my curiosity instantaneously goes to what government and officials helping him foot this particular bill. former FTX Engineer quietly became multi-million dollar Democratic donor after new role at Cryptocurrency Exchange. A year after Singh became Fdx's Director of Engineering, he quietly emerged as a reliable political donor for the Democrats He donated 8 million to Federal campaigns in the 2022 election cycle and all that went to Democrats according to the non-partisan campaign.

Watchdog open Secrets he was the one of the handful FTX Executives including former CEO Sam Bakemanfried who made massive contributions in 2022 midterm elections before the companies collapse. So sounds to me like they were all in on it. All of this like let's buy a little bit of Goodwill let's buy a little bit of credibility. It all seems like complete baloney if you ask me.

the amount of money the individuals at this company and the company as a whole donated to the Democrats And if you believe Sam Bakeman freed recently in a Twitter space called. He did mention that he donated the same amount to right-leaning people. He said he just did it more secretively. You have to take that with a grain of salt.

like, hey, that's all up to you if you want to believe it or not. I'm not the one, but I'm just literally relaying as a journalist would do of what the disgraced ex-ceo has recently said revealed the Alameda Venture Capital portfolio. a look inside Sam and Caroline's grab bag of crypto. This was posted by uh, obviously Financial Times today I Just want to give a shout out to them.

Crazy interesting read of what's going on with all the money and where it was and basically you're seeing hundreds of millions, if not billions of dollars of illiquid assets and then also assets such as like Ftt that eventually, uh, essentially account for squat. But anyway. um, obviously this is a extremely extremely detailed Excel sheet breakdown if you wanna. If you're a person who's a little bit curious about all this.

Uh, I Highly recommend that you kind of check out I mean I wish I could do a search on it. Really what I wanted to do was uh, just be a little bit nosy and search the names that I know and a little curious about how much money was in there. But anyway, if you're as nosy as I am, feel free to check it out. This is on the financial times and you can see where Alameda's money was going.

That's now kind of part of the argument of why they say they still have money, but it's just super super illiquid. But anyway, feel free to check that out now before we move on to the next segment that I think is kind of a blast from the past type of a scenario. Uh, something that is um I would say foundational to my channel. Um, but we haven't spoken about it in a while.

Uh I want to get all of your thoughts and whatnot on? uh, any of that. So I see something about tokenized AMC this is a great question. Uh, so Mystic asks tokenized AMC question mark tokenized AMC was a real thing, but we also know basically it was CM Equity was the custodian that for every tokenized AMC uh, share there was they were supposed to buy Real AMC but also CM Equity the group who was supposed to be the custodian for FDX dropped them in 2021. and almost all indications are right now that it had nothing to ever really do with actual AMC.

So if I really had to guess and this is just my own guess, I think this tokenized AMC was a way to fleece International People Um, and what I mean by that is if you look at all the tokenized Securities It was basically just like a bunch of the popular meme names. and I think FDX saw an opportunity. They're like, well, the international audience doesn't have access to the US market in an easy manner. What if we offer them easy access even though that quote unquote access was not the real legitimate thing.

So anyone buying tokenized AMC which I don't think it caught on at all. Like there wasn't much popularity if you look at like any of the exchanges related to it. But anyway, it wasn't that popular. It was like a failed fleecing attempt of international people who don't have direct access to the U.S markets now a common follow-up from there is.

well. hang on. did it have any impact on AMC? There's literally zero evidence to suggest that I would have any impact on AMC The current conjecture that was written up by whatever crypto reporter was saying. oh like was that used as share locates.

Like as him, someone comes to the broker, they're like I want to go short the broker's like great, let me go find you shares. Were they using FTX tokenized AMC shares as collateral? There's no evidence of it. I'm not saying it didn't happen I'm just saying there's literally no evidence of it right now. Um, so I don't want to hop on that like hopium copium train I Think like I said I Think this is more of a story of FTX continuing to be scummy and trying to figure out how they can offer you know something to the general public to get them onto their platform.

Uh, and in reality I think that's how they ended up with all the popular quote-unquote meme names I don't think it was ever a legitimate thing and I personally have not found any evidence of the FTX tokenized AMC shares having a positive, negative, or even a neutral impact on AMC I I Just think there was literally it was devoid of impact on the actual security. Uh, what else do we have? Hopefully dang, I am late today. You're not late. We had to do like a random impromptu start today because of a bridge.

round of the Twitter files were dropped, so feel free to rewind in the video if you're watching this live. just go back a little bit. If you're watching the recording of it, just go back a little bit. Um Bridge round I Don't want to rehash it all, but round two hasn't officially dropped, but new stuff did drop.

and the reason we haven't gotten round two is because uh, this Jimbo character and his connections to the FBI and all this it's super super sus like crazy crazy sauce. All right. So this brings us to something that is near and dear to my heart folks. I Need you to listen up.

The old Bulgarian boy or should I say the young Bulgarian boy who for quite a while was Public Enemy Number One I would say he was near and dear to many of our cold black hearts has once again surfaced. And if you don't know who I'm talking about I am talking about the CEO and co-founder of Robin Hood Vlad Tennev who seems to be the exact opposite of the mythological Robin Hood story. Instead of stealing from the rich and giving to the poor, he seems to steal from the poor the average Joe like you and me and lying his own pockets. in a weird sense I would argue that this guy who has now you know showed up in the public once again is really just some strange Frankenstein story of the actual Robin Hood Anywho, this is what he's most recently up to.

He did a classically he did a talk with Sorkin on Squawkbox and here's what he had to say: Um, let's let's talk about this retirement account and then let's maybe get into some of the more thornier issues around what's going on uh, in your space these days. How how big a deal is this? And how does this change the equation for Robin Hood Given the focus at least historically on younger consumers, now we're talking about retirement. Well, Andrew um, the world is changing around us. You know we've talked a lot about inflation and Rising interest rates.

but one of the other things that's been changing is the nature of work. You see an increasing number of people sort of avoiding the one employer traditional model and doing freelance work, doing gig economy work, having multiple sources of income, and uh, with this product, we're excited to offer a retirement account that's specifically geared towards the needs of these customers. So as you mentioned earlier, it's the first and only uh Ira that offers a match. And with the nature of work changing, the traditional kind of employer as a safety net model is evaporating a little bit too.

And we're happy for Robin Hood to kind of step in and help our customers retire. And even though you know there might be less interest in investing than there was in 2020 and 2021, uh, interest among retirement, particularly among Gen Z and younger people, is really high. and you have, uh, each successive generation of consumers uh, interested in in retirement at an earlier stage, right? So there is the second part that we're going to get into: I Just wanted to quickly rewind here because I think this is important At first you might be thinking hey, that sounds like a legitimately good offer traditional IRA or Roth IRA hey I think everyone should be investing for the retirement. a zero Commission fees Also great.

that is a Hallmark of many Brokers Now I would argue that Robin Hood started it one percent match on every contribution dollar. so if you give 100, they'll give you one. This sounds good. This is a new thing I Personally have not heard of a one percent match on every contribution dollar and you might be thinking to yourself, okay, good, good, good.

what are you talking about Matt Why are you talking smack on the boy from Bulgaria What's wrong here? Well folks, this salesman is not just any run-of-the-mill salesman. he's a slimy snake oil salesman. What we have right here: Traditional IRA Roth IRA One percent match Zero Commission fees These are all three enticing things. The sound of a siren saying, come here, join us, Give us your money and you know why he would do.

That is because he knows as soon as you're on his platform. Robin And he knows there's a good chance that a high percentage is going to make some sort of training. and the more you're training on Robinhood the more you're engaging in payment for order flow. I Know many of my existing viewsers know what Pfoth is, but to my new viewers, this is the practice of a brokerage like Robin Hood sending your orders to a wholesale retailer.

A retail wholesaler is probably the best way in internalizers. They're various names, but it never hits the lit exchange. You are not competing on the New York Stock Exchange You're not competing on the NASDAQ. You are competing basically with Citadel We know that from various government hearings they are the market maker.

If you're buying, they're selling. If you're selling, they're buying and what they're doing is basically the spread. the difference between the bid and the ask. They're always just running that difference.

and that's exactly why even in this environment. Citadel Just reported today they had profits of 32 This year. they made billions and billions and billions of dollars off of this practice which costs many people. Pension Funds ETFs billions of dollars because it's widening the spread and that's how they make their money.

so they don't care This right here. It's as I alluded to before. It's enticing to get you on your platform. It all sounds good, but there's going to be X percentage of people who are like you know what? I might trade a little bit and they're going to start engaging in something that is negative to themselves and I would take it a step further and say negative to the entire stock market ecosystem.

and they don't even know it. Wild, wild wild that we're getting it from the boy from Bulgaria But he did not stop there. We got to talk about the sandbankment. freed of all of it.

Uh, he of course imagine asking one complete Fraud's opinion about another complete fraud I mean amazing. The irony said, taking a stake in your company, there was a lot of speculation as you very well know that he wanted to maybe even buy the entire business. What did you think when you heard about the bankruptcy and all of the other um now speculation or Worse around what's happened here? Yeah, um, well, it's it's a yeah, uh, found it super big big bummer brother like I Heard that news and I just thought, oh shucks, that's just that's a bummer with a capital B I Think an unfortunate outcome for customers who have their money locked up um in FTX and FTX us I think my takeaway and it's something that we haven't really heard discussed. Too much is there's a there's a little bit of um, you know a pattern that I'm starting to see with these foreign companies that create U.S subsidiaries and these U.S subsidiaries are relatively small, but it gives them access to the US market.

and um, you know Robin Hood operates a little bit differently than that. We're a U.S parent company. Uh, we obviously have regulated businesses here, but I think companies have been using kind of these these foreign home bases. Whether they be in the Caribbean in the case of FTX or you know you've got companies in China and they haven't been, um, sort of scrutinized to the same degree.

and I think that's something that Regulators should take a look at and make sure that you know the scrutiny is the same if not higher. If if you're offshore in operating a business that has subsidiaries that serve American customers, you just have to appreciate his words. When he is running a business that essentially relies on payment for order flow, he gets paid from Citadel. Most likely other players get paid from virtue, but this guy gets paid from Citadel and he's talking about like regulation.

The guy who's in charge of our regulations SEC Chairman, Gary Gensler has gone out of his way multiple times to say that payment for order flow is most likely a conflict of interest. Ridiculous. literally. within the past 24, 48 Hours Payment for order flow was banned in Singapore.

It's previously been banned in the UK, Australia and Canada And then this guy has the balls. Be like I think Regulators need to step it up when our current Regulators are saying exactly what you're doing at Robinhood no one should be doing this is wild if it does. If it doesn't make you laugh, you're gonna end up ripping your hair out instead. so you just have to sit back and give it a chuckle.

The absolute incredible dialogue we're getting from Sorkin and Robinhood as if we're just being gaslit. Folks, we were just being gaslit of the actual scenario. Hey, I know you have a bunch of thoughts, so please let me know in a comment below And on top of that, hey, why not if you have any questions for me. Oh wait wait wait I have one more I Wish ever everyone shut up.

Shut your mouth. Um I Have another thing from Jimbo Kramer Here down to the New York Stock Casino Jim Cramer joins us now. It's a kind of a seasonally strong time. uh, gym.

but uh, we got the you know, we got the the I Don't know how often we hear from the FED that they say, you know we're definitely still going higher. That's the lead story Mike Wilson Seems like he thinks this, uh, latest rallies petering out a little, but what? What's your feeling on? uh on just the overall indexes? Yeah, look, these guys exhaust me. These negative people. Okay and by the way.

Jamie Diamond other than your the military I thought he was incredibly negative Mike Wilson negative Katie Huberty looked at the charts. Negative: uh I don't know anybody who's really positive and yet at the same time you have a down day like yesterday. The positive: You know suddenly people I think are going to come back and uh, take a hard look at things because there's not a lot of stock issuance and uh, other than the two-year there's not a lot of great investment. Everyone's decided there's going to be a recession I Don't see the recession coming I Think that the Fed's being very deliberate.

No one thinks the Fed's doing a good job that comes on air I mean other than Greg Hayes and Greg Hayes is of course because of the huge number of Munitions that we've uh spent in. Ukraine he's got a good story to tell. but I'm exhausted by the negativity I mean I just wow I mean I come in I'm looking for bargains and I feel like don't waste your time. let's go buy the two-year and I don't think that's right I Think that's what people are going to listen to though.

Well, it's when you're in a period where you get to choose recession or hyperinflation. It just I I Guess it's just that. but maybe that that tells you right there that it's probably not as bad as it makes us feel. and you know I think yeah, yeah, if Kramer thinks it, he thinks him, everyone's decided there's going to be recession I Don't see the recession coming I Think the Fed's being very deliberate I'm exhausted by the negativity I Don't like being the bearer of bad news but I know that's what all of you pay me the extraordinary large bucks to do.

You come to me and you say Matt I can handle the truth I Don't like having to say this, but when Jim Cramer tells the world he doesn't see a recession coming. When he says he's exhausted by the negativity, it makes me feel. It makes me know that a recession is in fact coming. I'm sorry that you have to hear it from me.

Remember the old saying don't shoot the messenger I'm just trying to tell you that whenever we do the opposite of Kramer we end up making money. So if this guy goes on TV and is telling the entire world that hey, we're good, nothing to see here. It makes me instantaneously know that in fact, we are not good and there is very much something to see there. So do whatever you need to hug your loved ones.

do what you need to. But I think Kramer just doomed us I think I think Kramer just officially doomed us. My sincerest apologies I I Truly mean that. Let me know your thoughts, let me know your thoughts and now call your mom, call my mom.

Uh, I think I Kind of got through everything I needed to get through I'm confused at this point. Um, are these people still talking? We could check in on them for a second to see if they're still doing their Twitter space call. Let's see if they're talking about anything interesting. Did an anti-pornographic task force and they had taken tried to take down everybody on Twitter I Would have said okay, but they didn't.

They wanted to just take down the pornographic material that was relevant to the son of the President. That is an issue. In fact, they actually allowed. They actually didn't mind the amount of child porn that was ramped on on.

Twitter prior to Elon Musk taking over. which is another thing about the media about to lose my whole channel from this. Are you kidding? They haven't even mentioned I Come in I Think we're going to be talking about some sort of government collusion and Boom I Just blew up my entire life, my entire streaming career right there. It wasn't even words that I said then Twitter did or anyone did in the past 10 years in the past one month.

I Mean it's still ongoing right in front of everybody Ducks Uh, it's a good magazine, you know they cover uh, these issues and she has only recently been being in contact with a couple of people at Twitter who are now responsible for cracking down on CSE right? like child sexual exploitation material. This never happened before because you know a lot of people I'm sure a lot of us even in here have tried to report these uh, these ongoing things that that nobody cared about because they all are off for whatever reason. decided that it was not a priority for the company to crack down on. but now we're actually seeing action taking place and despite the fact that you know, uh, they're actually taking action against this, What does the media run with the media runs with this claim? uh, made.

You know it's baseless, right? It's by some organization called the Center for Uh countering Online hate. It's a British organizations and NGO It's a very activist organization that planes that had seen arise in hate speech and they can't really prove it. It's just they're they're stating it and and that's what the media is running with. That's the narrative.

Elon Literally cure cancer and they'll say no. It's actually. and there's well. there's a broader picture to paint too though.

I Think wording is extremely if you look at number eight for Matt Levy it said by 2020 request we're connected to actors to delete tweets and you can see more true view from the Biden team. This is an email that was never supposed to get out. They never thought anyone would ever see this and it showed five accounts specific Twitter accounts. Many of them talking about what happened with Hunter Biden and those accounts were removed.

They would not have been removed otherwise. It's very obvious based on the wording of Handle Disease that they were removing these specifically because of requests of the federal government and so that's clear evidence right there. But what's even scary, It wasn't the federal government though. he was like it was a campaign.

keeps bringing up like nuances. Okay, hang on. I Don't know if there's something going on with the space where you guys cannot hear each other, but when two people begin talking at the same time, you cannot hear either of you speaking at all. So please please please just let someone finish speaking.

Uh, you know for the Integrity of the space so that we can hear what they're saying and then uh, the next person and make your comment s all right? Well let me go ahead and continue on. Then thank you thank you Tara So what I was going to try to allude to is that the overall picture here is they. It's pretty obvious first of all that there was higher up than just the Biden team that was shown in this document. Of course, Joe Biden himself isn't going to use at Joe Biden at gmail.com or whatever.

Like, they're not going to make it that obvious. but the point is, there's this broad picture. they would do these massive overreaches of power and there would be no consequences over and over and over again and you can see as it progressively gets worse. Take a little bit more power, take a little bit more power, take a little bit more power.

And the overall trend here is that if Elon Musk had not purchased Twitter if we had not seen him releasing these files, even if you don't think these specific files are that big, think about how far this could have gone, we could have gotten to the point where it was significantly worse than this had this not happened. So that's why the Twitter files are so important. I Let Fidget I know you've been waiting for a while bro. I'll let you jump in quickly, give us your take on this, and then we'll go with Alex Sure.

Um, you guys are in front of 10 000 people. Uh, and regardless of my political leanings I Think it's really important to before we State our opinions as facts. Uh, be very clear about the words we're using the facts we're alluding to and assumptions being made right I think a huge part of that is was the government asking Twitter to do any of this and this. These are questions or was a political party trying to fight for their Uh for their candidate, asking a platform to do something that doesn't make the asking Okay, that doesn't make the actions of Twitter Okay is Twitter was Twitter a public or private company or a governmental entity.

It was a public company which fiduciary duties to its shareholders. I'm not saying one thing's right or the other, but the conversation about is the fact that it leaned left and its audience and advertisers paid for that angle. A fiduciary and you can put a thumbs down. I'm just I just want to talk through facts.

There was a fiduciary duty to maximize profits, right? One might say that cutting down the fat like like uh Elon is doing now would have been part of that. but advertising revenue is a piece to be talking about. That um, obviously governmental interference uh, that impact elections is a terrible thing. It should not be uh, happening.

What's happening with Twitter is great in my opinion. I'm I'm an independent? uh, Libertarian? Uh, sorry. You mind if I chime in on this one? Yeah, just just one last thing. Yeah.

I Mean, it's okay You, You make a good point that it's not the Federal government, but it does. It does show that there is a certain level of uh, agenda or bias from the part of Twitter right? I Don't really have a problem with a dividend campaign reaching out to Twitter to get certain information about its candidates suppressed. That is their job. They want to get their guy in and they don't like negative news being reported on them.

That's understandable. However, it is not Tutor's Duty or any media Publications duty to go along with it to suppress and to acquiesce with their demands, right? Like. But it is. But it is their choice.

It is their full full choice too, right? So let's let's make a difference between acting as in editor, right? They're acting in an editorial capacity. Correct? So Section two presenting themselves, but as a neutral platform? No, no, no. The makeup of a company is always. always the makeup of a company.

Like, there are plenty of companies that lean last, and there's plenty of companies that lean right. That's fine if everybody and they won't do it right. They won't do what was asking about because they have principles, doesn't have any. Or at least it doesn't Yeah, Ian It's not even about it's not even about integrity because okay, sure, we can say that the actors at Twitter at that time didn't have integrity I actually agree with that, but that's not even the point.

The point is is, it's not whether there was an Integris or a bad actor there. The point is is that if a company wants to lean left because the Executive Suite at that company and the majority of the employees of that company lean left, then the company's naturally going to lean left. The idea is the government being involved in the micro happenings of these occurrences. That's the issue.

The government should not be involved to encourage, incite, motivate, ask, request anything of this sort. It just should not be happening. Four government agencies and that would include the FBI. All right.

I'm gonna go. Grant Can I say something? Yeah, yeah. go ahead. Grant Yeah.

I Was just going to say just. there seems to be a lot of disregard for the fact that the guy that bought the company and paid 44 billion dollars three nights ago said there's there was censorship I Mean that's the word he used that means information was suppressed from the public. Uh, and it's hard for me to believe in my lifetime where I see one crime I'll find many and I'm curious to see how that same censorship and suppression will Later we will find out relates to our involvement in Ukraine are the the mandates that were pressed on US during the vaccine, the data that came from covid and on and on and on and and I think most of this group here in the audience would would agree. hopefully that at least we know now that there was suppression of information to the American public.

I I agree with that point and I think that's why that a lot of this comes out and I just wanted to add a few thoughts. Um, because I think I have an angle on this at Uh based on the stage now might be unique. So I worked for a background context I worked uh in Big Tech for years. Uh I ran some products at LinkedIn which on some Dimensions is actually larger than Twitter Uh, it's larger from a revenue standpoint.

um I don't know if it is from a Dau standpoint at this point, but um I think you know One of the most important things about these files is that Uh Elon is actually giving some details into the inner workings of how large social media companies work and I just wanted to quickly fire off just like some objective facts on how they work from someone who like actually got to do it every day when I was based in Uh Silicon Valley working on these so you know The first thing I just wanted to say is that these teams are very interconnected from a technical standpoint. So uh, when Twitter censored the you know Hunter Biden laptop story Um, that had implications for both feed which probably consists of like three or four separate teams at Twitter as well as the messaging team which is different as well as the content moderation team which is different and so if you wanted to get anything done as fast as they did, you absolutely need exact level approval to move those things. So you know as someone who hadn't like had a chance to see it on paper like all of us until recently, I kind of already knew that there had to have been execs involved and so I think you know. regardless of what happens with Twitter, people should be aware that anytime things move this quickly in the future that execs were absolutely uh, involved in making those decisions.

Um, the second thing that I think is really important for people to understand about social media platforms because Twitter will not be the last and this will be. This will not be the last case of the government trying to put its finger on the scale and these platforms have gotten so large for context: Twitter in Q2 right now has seen about 237 million daily active users and Facebook students 1.9 billion daily active users. So that is why it's so important that we protect the integrity and I personally don't think there should be uh, political, uh, bias Within These exact teams. They need to be credibly neutral.

And I can say from my experience at LinkedIn that they were not off of pure antidotal evidence. Um, in terms of the actual type of content that's out, Um, Ian was talking about this briefly and I think it's important that people are aware of this. There's two main types of content on social media platforms. The first is that you have organic content from users and this tends to end up in the fees.

and this is dictated by feed algorithms. and there are teams that actually build these algorithms, but they are so complicated that a lot of the teams themselves do not understand the power of them and all the intricacies. and the second is the editorial content. So when you go to the Discover feed right or the Explorer uh tab on Twitter what you'll see is that there's sometimes these sections like trending news, sports, entertainment.

All of that content is curated by a team at Twitter those are Twitter insiders and the product managers have the ability to dictate how the UI and the Ux of these platforms look so they can actually put their content above the organic content on the platform. And then just the last thing I wanted to say is when it comes to suspensions and bands, there are levels to this. Some of this is automated, but as the Twitter files showed, um, you know obviously what was happening was people were coming in. They were directly asking the executives to put their thumb on the scale of the organic content and take Uh users off the platform and I believe that's wrong and I saw I didn't see it happen.

You know it's the same degree I think LinkedIn is fortunate to have to or not have the same level of conversations because there's an inherent you know tightened up attitude to LinkedIn But you know, regardless of his Twitter and other platform, people are going to want to talk about things like politics in the future. And it's important that the Technical Systems as well as the actual social Uh interactions that are pushing uh this content out and dictating how billions of people seeing content that they are credibly neutral and fair. I I totally agree with everything you said there and I I as somebody on the left I agree that like 90 percent of Silicon Valley is probably progressives and Twitter's staff at the time they were probably 90 progressives and I'm sure they lean to the left and they they viewed things more through the lens of somebody that was a progressive. With that said, having making putting actions into into place based off of your political views as a private company, there's nothing illegal about it.

You could argue it's immoral. Sure, maybe they were paying more attention to to the Uh requests from the Biden campaign than they were from the Trump White House I I Eventually say they probably were. With that said, a private entity, the Biden campaign contacting Twitter a private company to show them that there's content that's out there that they disagree with or in most of the cases showed in the Twitter files were con was content that already broke Twitter's own terms of service. There's nothing illegal about that.

Uh, it's not breaking somebody's person. Do you think this guy has a point government entity stopping forcing a private entity to block the speech and that didn't happen. So that that is why going back I Said that the files it didn't really resonate with a lot of the mainstream media as being something important is because it didn't show any legalities. Sure, it showed some internal discussions, but it's stuff that we already probably figured was taking place.

Would you say uh Brian Would you say that if it's not illegal doesn't make it any less serious. So even if it's legal, but it has the potential to impact. Um Society Like if all these social platforms collude, the power they will have is is a pretty concerning issue. Would you agree with that point? Yeah, you know, like when when the New York Post story is blocked having been on the left I was still against them censoring it and we like I said we knew it was being censored at the time.

Uh I I would like to see more documents, more conversations about post and about Bannings that took place that weren't related to content that broke Twitter's terms of service. If I saw that the Biden campaign was emailing Twitter and requesting certain people be banned or certain content be removed, that wasn't against Twitter's terms of service, that would be alarming to me. But I haven't seen that and and maybe it's coming. maybe the second drop We're gonna see that.

but I haven't seen that yet. The fundamental: sorry Mark just class fundamentally. Um. and I'm I'm asking again, none of these are tainted with uh intent.

I'm an attorney. Everything is meant to be objected. Uh, that's the only way we can do our jobs at the beginning and then we twist afterwards. But I seem to recall and I'd like to hear the difference between Donald Trump during his presidency, directly communicating and building narrative for Fox News with Fox News co-hosts Hannity uh, and others that is not disputed during a presidency, right? I think the argument's going to be that Fox News is inherently right leaning.

Therefore, you have to assume it's going to push the narrative right. but I'd argue that most people in fact I'd hear all day on Fox news that Twitter leaned left and Twitter was terrible and so it's I'm having a hard time parsing out the difference. Um, and my guess by the way of why both Fox News and the the and CNN are not focusing on the actual Twitter Part of this is because in that Twitter file it also said there were requests by the right as well. It said far less right but there are I mean you can look up.

You can see the the court case of the accusations against Donald Trump and Jeffrey Epstein for incredible sexual, incredibly sexually violent, and just deplorable uh, accusations that was then dismissed afterwards. but that story got barely any coverage and I'm gonna bet most of the people in the audience suddenly never exists you can Google it and read it. So my guess is that a bunch more is going to come out on both sides and the collateral damage could be massive. Okay, so here's the thing right: Twitter is a Public Square Fox News is a news Outlet Fox News does not control our Speech Twitter does Twitter Meta Instagram Tick Tock and so on.

When you have a public space where a certain political idea is not allowed to be propagated and is a very mainstream idea, conservatism is not The Fringe. It is half the country voted conservative. When you have a platform that is as large as Twitter that is as large as Meta controlling speech and preventing one half of the country from being able to express itself I would argue that this is much larger than say Fox News Promoting a certain agenda right promoting Donald Trump because people can choose to change the channel, there is an option for that. You don't really have the option for that on social media.

When every single social media platform decides that the only acceptable view in this world on this whole planet is their View And this is the San Francisco view that you're not allowed to question any narratives. You're not allowed to question gender ideology for instance. or you're not allowed to question uh, the war in Ukraine right? You're not allowed to question it. They ban you for that.

On many different places they claim that it is a is promoting or glorifying War whereas they can very easily at the same time. uh, call for war against Russians or kill or call for the deaths of Russia and say that's fine. That's why these platforms allow. So I would argue that it is much bigger than simply you know Fox News or CNN or MSNBC promoting a certain agenda.

They can do what they like. They are private platforms, but when you have a site like Twitter or Facebook or anything else uh that dominates the public sphere and allows you to, you know, allows it to shape the narrative by censoring one half of the conversation that I would argue is much larger, right? It's a much bigger problem than you know a say Fox News Refusing to have a progressive liberal Uh, on on on a show with say, Tucker Carlson and by the way, he does invite them and just refuse to come on. So there it isn't just one side of the conversation really quickly. It was also our sitting president who was suspended wrongly from Twitter and has been reinstated so just just again to balance on conversation.

So uh, Ian I believe. So we're saying that uh, a there's a moral equivalence between a sitting president or a not sitting president or non-sitting vice president and a political campaign trying to accomplish something. um, versus a sitting president trying to drive a narrative directly to the public through an outlet that I agree is different than Twitter Um I Think that what that comes down to is does Twitter deserve uh, uh, Section 230 protection. Uh.

as the as for publishing and it also begs the question of we you inherently did say without admitting it directly or saying it directly that everybody assumes Fox News is going to be is going to be protecting the rights, narrative and pushing the president's uh narrative. I Don't think that's the same as literally being on the phone with the president and dictating narrative to go to the public which has similar impacts and I I'm agreeing and disagreeing in different ways. Um, again, would it be different? Would it be different for you if Twitter had done it on its own? If Twitter had never been asked which one was worse, I would say yes. that's dramatically different.

I mean it's honestly just as bad because it shows that there is a certain bias at Twitter to promote a certain narrative. and I think that's the the key here. The media likes to pretend that it's fair it when I say the media I'm talking about the mainstream media I'm talking about New York Times The Washington Post and so on. They pretend that their view is the only acceptable view.

Anyone who opposes it is a clown, right? That is the narrative that you cannot question climate change, that you cannot question gender ideology that you cannot question, uh, critical race. Theory To do so makes you an outcast the Pariah and try doing so in Hollywood You will be fired immediately. Try doing so in any media organization if you speak out as Barry White did it when she spoke out against it at the New York Times What did they do the sector right? So that is the problem here is that the media along with social media has this dominant narrative. and it is.

It is. Uh, well. like I said, it's dominant and and no one else is allowed to say anything about it. And now this bombshell before before I forget you actually highlight something I brought up earlier.

Which is, these people get fired based on risk analysis, right? They're not. Just it's not like somebody like the head of the network goes. I Disagree with that opinion and you're fired. There's an entire Risk analysis, that goes into all of these cases.

When there's accusations of sexual, uh, misconduct, and accusation of uh of doing things that that would hurt the business right? I Guarantee you what they're doing is they're going what's best for business? We have advertisers we have Revenue business. They're not doing things for the best of business. They haven't done anything that's been best for business in a long time now in a few years. So you think Twitter leans left because because they're all just Libs and it has nothing to do with yes, over 98 of Twitter employees directly to Democrats.

So yes, the answers. Here's an example: James Damore I I don't know if you're familiar with him I Was just thinking of this where he was a senior engineer at Google and he was asked to perform an analysis of Google and how it can make itself better because they obviously they you know you want to perform an analysis of of how to improve your business and his uh solution was to provide a paper very well researched explaining why uh, diversity of thought was more important than diversity of gender or diversity of race. Because such things don't actually add to the company, it doesn't really add anything to the company at all to have uh, you know, diversity directors in there because they don't actually add anything to the business. And so he performed a very objective analysis saying that we need to have more diversity of thought and this will encourage more users to come to your sites.

They will view it as neutral et cetera et cetera et cetera. And and what did they do? They fired him. They claimed that his paper was in fact, uh, violent, right? It was violent against employees who felt affected. They felt emotionally impacted by what he was saying.

They didn't like the fact that he was saying that they don't contribute very much to the corporation by you know, not actually contributing anything to the corporation. So they fired him for that and and we see this al