Or a meet Kevin episode of Twitter and what the hell Elon Musk is doing. So let's talk about some of the latest first things first: Twitter had about 13 billion dollars of debt via the Elon Musk acquisition deal. There are now talks and rumors that potentially this 13 billion dollars of debt will be marked down by about 20 percent, much to the Chagrin of companies like Morgan Stanley and other Banks involved in the Stat financing deal. This is largely because the debt is now deemed substantially worth less than what it was worth, mostly because the actual platform was likely paid for and at a valuation that is much higher than what the company is worth Now after all, NPR reported that 50 percent half of Twitter's top advertisers have left the platform and refused to do business with Twitter for the time being, Some of these companies include GM Pfizer, Audi, Volkswagen Wagon Modelies, the maker of Oreo and many others.

Apple Almost laughed. but after meeting directly after Tim Cook and Elon Musk directly had a meeting, Apple did resume advertising, which is good, but this doesn't change the fact that about 50 percent of advertisers have left, and advertising conglomerates are recommending continually that individuals and companies leave. Uh, the Twitter advertising space. that's not obviously great for Twitter.

A company that was struggling to be profitable prior to Elon Musk's takeover certainly is helping that there are a lot fewer employees now, but certainly doesn't help that a lot of advertisers have left. Now the United Kingdom makes up about 10 million dollars, roughly We Believe or or this impact of these advertisers leaving might only impact Twitter to the tune of about 10 million dollars of Revenue. But even in the United Kingdom you've got companies per City am like Unbxd, uh, Havas Media and the inter-public group all either polling, advertising or quote, calling on clients to focus on other social media platforms. As the Twitter saga continues to unfold now generally, I'm personally a big fan of a free speech I I Love what we're seeing with the release of the Twitter files.

I Like to see the insights because remember when I ran a campaign for governor in California I was censored, my political campaign was censored and I suspect it was censored by Uh or under the request of somebody very powerful like Gavin Newsom who's the Governor of California Didn't like that I didn't follow the party rules and do as they said. instead wanted to give people a choice for a reasonable governor who would provide reasonable change like oh My Gosh providing solution for homelessness or financial education in schools. Nonetheless, censorship is something that has happened. Jack Dorsey replied and shared a little bit of his thoughts on censorship and these are actually quite enlightening.

We'll we'll talk about these. Uh, I'll go ahead and pull these up in just a moment. I Do think it's worth also talking about how Elon Musko in Uh, Unfortunately, the tightness of budgets as advertisers are are leaving. It has apparently not paid rent in about three weeks now.

We're not 100 sure if this is true since it's being reported by some news agencies that yeah Elon Musk isn't the biggest fan of. although it usually he comes out and says something like that's incorrect or untrue and we haven't quite seen that yet. So anyway, let's take a brief moment and just look at what Jack Dorsey mentioned today. Actually, today is the 13th CPI day Tomorrow Federal Reserve Day Big Day Tomorrow Uh is uh.

It's when we finally put to bed the Pp coupon code as well. We extended that because we had so many emails of people asking for bundles or asking questions and we were gone in. New York Ringing develop the stock exchange so we wanted to make sure we had a chance to get back to everyone. Uh, so keep that in mind.

link down below. Anyway, here's Jack There's a lot of conversation around the Twitter files. Here's my take and thoughts on how to fix issues identified: I'll start with the principles I've come to believe based on everything I've learned and experienced through my past actions as Twitter co-founder and Lead Number One Social Media must be resilient to corporate and government control. I Could not agree more with this.

Absolutely agree. Full stop. Only the original author may remove content they produce. Ah, I think for 99.99 of cases, this is true.

However, I think if somebody's being doxxed or or uh, you know, violently threatened to the point where the law is being broken. I Think number two has a little bit a tiny little asterisk, but it should be heavily tiny. However, it should also be documented right. There should be like a blockchain ledger that shows you requests for removals as well as actual action.

And then here, Number Three Moderation is best implemented by algorithmic choice. I I would agree with that now. Uh, uh, Jack Dorsey Did did link to sort of an additional idea for a native protocol for Uh for Twitter Uh, really. uh, some some additional insight into moderation for Twitter as well.

you can look at that in a moment. Uh, in fact, let's go ahead and pull it up. and here we go. This is Uh, Jack's sort of full take here.

We've already gone through some of this so uh Twitter he says when he let it uh was different than the Twitter today about how Twitter today doesn't meet the principles that uh that he believed in and he believes the biggest mistake that he made was continuing to invest in building tools for us to manage the public conversation versus building tools for the people using Twitter to easily manage it themselves. I Think that's actually a really good point. You put more effort into moderating than you do into open source algorithms maybe? uh, controlling in accordance with the law. Uh, then you end up becoming too subjected to outside donations and political influence as we've seen in the release of the Twitter files here.

Uh, you know Jack goes on to talk about how he doesn't believe there was ill intent in what they were trying to achieve. Uh, and that ultimately moderation is is important to a limit, but but should be done algorithmically and transparently I Think he makes a very good point here again. I'm not going to read this verbatim right now because we're really going to focus uh on on some of the latest with Elon Musk here. but uh, you know he gives some examples here of some open source protocols He suggests he wishes that Twitter and every company uh, you know ultimately is is able to be transparent in their actions.

I completely agree with that. I Actually think again. like I mentioned, blockchain has some really good potentials here and believes that Twitter has a really good place as as, uh, as fostering a narrative on the internet. That's actually one of my fears is that maybe you know if Twitter doesn't make it, you would actually lose more free speech if you didn't have Twitter than if you kept Twitter and just tweaked it, right? But uh, now in uh, reference to the headline here of the story: The New York Times Certainly Elon's least favorite publication is a publication that has recently cited evidence from other organizations who have conducted studies like anti-hate speech organizations that potentially hate speech has actually been spiking on Twitter such as Search terms uh, for anti-hate or sorry, anti-jew or anti-black phrases or anti-Semitism spiking on Twitter After Elon Musk's acquisition, Elon Musk calls these allegations untrue.

It's possible some of these things could be related to I Personally believe the Kanye incident. Uh, who knows, but the New York Times is now reporting that Elon Musk has potentially stopped paying rent on his offices, including the Twitter headquarters, but also offices around the globe as potentially uh Twitter has no money to pay the bills. Some folks are speculating that Tesla stock fell substantially more today because Elon Musk needed to sell his stock. Um, I Suppose we could look.

we could take a brief look at Tesla volume to see, although it is a CPI day. so you do tend to get some some real Uh volume movements on CPI days, especially a day that's a CPI day and potentially right before an Fomc meeting. But you know I Have to say looking at the chart right now, maybe maybe okay, maybe look at this. So uh, you actually have a very easy grid here where you could see volume on Tesla today hit the highest level.

It has hit all for a year. Tesla has not hit this kind of volume for a year. 175 million shares traded today. Holy smokes, it is the highest volume that we have seen in Tesla on Tesla stock for a year.

Absolutely phenomenal. Uh, and again. This comes on the same day that the New York Times again is reporting that Elon Musk has stopped paying rent on offices. He's also potentially reportedly I would imagine Elon Musk might deny this or have a different point of view, but also reportedly considering not paying some of the promised Severance packages to his former employees.

some are suggesting that paperwork just isn't being completed or or maybe it's just trying to be swept under the ruddock and and forgotten. We don't know how much of this is true or not true. Twitter apparently has not paid rent. Uh, according to the New York Times on its San Francisco headquarters or quote any Global office for weeks said three people close to the company.

they're also apparently refusing to for which they're being sued By the way to pay a 197.7 thousand dollar bill for Charter flights. A lawsuit alleging this has been filed in New Hampshire They've laid off kitchen staff. They are now auctioning off a statue of the Twitter bird logo. They are auctioning off a sculpture planter with the At: Icon They're auctioning off a ten thousand dollar industrial vegetable dryer.

I Didn't even know there was a such thing as an industrial vegetable dryer. an industrial braising pan I Don't even know what brazing is I don't cook braising is apparently a combination cooking method that uses both wet and dry. Heats Typically, the food is first browned at a high temperature, then simmered in a covered pot. 17 000 for an industrial braising pan.

Lounge chairs, bokeh chairs, massive espresso machine worth twenty thousand dollars retail apparently. Elon Musk Also distributed it in email Sunday Evening talking about how important it is to focus on first principles in a world view based on Aristotle's teaching to reduce assumptions to basic axioms. All right. So let's break that down in: English What do you talk about basic axioms? You talk about starting an analysis uh, and implementing some part of almost the Socratic method of starting with what do we know is true with certainty and building from there rather than building on all of our assumptions.

What do we know is with certainty, true and necessary. Some of this is actually really interesting when you read Aristotle You'll find things like what is the purpose of money and what is the what is a is something that is truly good versus just a tool for something else. Money, for example, is just a tool for something else. It's a needs to an end, right? If you think about it, money is something that you use to buy something you want a vacation, a day off a phone.

Health Food Water Whatever right? Money is a tool for something else, but money in itself is actually not good. There is no good. There's no inherent good in money, whereas uninherent good could be a balance of family time and work too much. Leisure could lead to sloth.

Too much work could lead to a heart attack and overwork and stress. right? And so there's this: this principle in Aristotle's teaching of Eudaimonia: Uh, the Good life Uh, I'm a big fan of of uh Plato and Aristotle and and the Greeks really big fan Uh, so you know this resonates with me and I thought this was actually really interesting. so I thought I'd share that. but uh, that was an email that was sent out by Elon Musk on Sunday night.

But apparently we're also now seeing office supplies in addition to electronics like computers being put up for auction. There's uh, you know Musk has complained about a massive drop in Revenue in November he didn't uh, eliminate the potential of re of of not only a bankruptcy for Twitter but potentially more layoffs which we've seen plenty of. There have apparently been threats uh, by Elon Musk that individuals might be sued for speaking about the company outside of their NDA policies. Elon Musk did indicate that Twitter Blue would, at some point, uh, become a a less Ads platform.

It appears that that is now true. Uh, I actually paid for Twitter Blue for about a year roughly since it came out and uh, it used to be no ads now I see ads I see just about as many ads now I feel like anecdotally as I used to see before I had Twitter blue. Now they're also thinking about getting rid of the Legacy verification system. So everybody who has a blue check mark basically like the ver the old verified thing.

they're going to get rid of it because they thought the assignment for that was corrupt. so they're going to get rid of that. Any official company gets a gold check mark now on. Twitter you could actually see that live now already uh and Elon Musk Recently also tweeted some hopium for uh, Tesla investors at least suggesting that he does believe in the long-term value of Tesla and this is something I personally do believe in as well.

I think I think there's some, there's There's quite an incredible buying opportunity you have in Tesla now. uh, mostly because much of the fud that's relating in my opinion to Tesla is is really unrelated to Tesla Uh, earlier today he did tweet this uh, this tweet here. he uh, actually I'm sorry this was yesterday. He tweeted uh, that Bots are on the gravestone here of course I followed up with this I wrote fixed and then I posted this picture which seems to have done uh, decently well here.

it's uh, doing well see what else we have here calling out Bots please attack me. Let's go to tweets and replies he's been. he's been uh, commenting a little bit about some interesting things here. So what do we got here? It's okay to hate the fact that the Ex is a monopoly and desperately a wish for more competition to emerge, but at the same time, uh, not hate X as a whole and even believe that X is made up of largely good people.

Uh, this is uh, this is a you know reference to the company that Elon is trying to create of course. Elon Musk replies with a picture of his son who's named uh, well, it's got a longer name than Acts, but short for x Uh, somebody here writes as a Tesla investor. Make sure you don't get distracted and are still able to distinguish the noise and signal. I have a feeling that many can't for Tesla Elon replies to this and says 17 minutes ago Actually, we just started streaming 15 minutes ago.

Think long term and avoid Leverage I Agree with that. It's actually something I've been saying all year long. Avoid leverage. This is the time not to have leverage and and that if you can see through the noise and you believe in in Tesla long term, there are some pretty good deals you can be getting right now.

Uh, Elon did tweet this which did upset quite a few people, although it did apparently get 645 000 likes here. the woke Mind virus is either defeated or Nothing Else Matters Another tweet here about how you could play cyberpunk Elden Ring and thousands of other games in your car with an epic sound system Now uh, and He suggests that the computer inside the vehicle is about a PS5 grade. powerful uh computer That's actually quite impressive. Quite quite impressive.

So uh, what else do we have here? San Francisco is an anxiety set on a backdrop of crazy homeless people and closed Walgreens Why do people still live here? Elon says accurate after uh, the other individual compliments San Diego the wokes acting like San Francisco represents the rest of the planet. It does not. It represents if the world becomes like San Francisco Humanity is screwed. thousand percent says Elon Wow, Wow.

Yikes. Fate loves irony reiterated here. Uh, it's okay to update your opinions and thoughts when you get new data. Hey, this is like basically saying it's okay to flip-flop Yeah, to which Elon Musk says on point or On Target I'll picture here about what we do in life uh Apple potentially reportedly working on a third-party App Store to be released by 2024 Elon replies really to this.

A little bit of a talk about. uh, you know some jokes here. We've got, um, some other nonsense here. so um, it's very interesting I I Want to be very clear? I'm a I'm a fan of Elon Uh I Do think that he's undergoing a substantial amount of stress and getting hate and attacks from a lot of different angles.

I Think it's very difficult to fire a lot of people at a company I Think it's very difficult to lose people you weren't expecting to fire I Think it's very difficult to buy a company that you didn't want to buy and then go to fix it I Think it's very difficult to deal with the Chinese government while scaling factories I think it's difficult to deal with neural link investigations and I think it's difficult to deal with questions from NASA and other companies into. SpaceX I Think it's difficult to deal with the FTC when it comes to Uh and the FAA when it comes to allowing Starlink on on private planes. I I think Elon has. This is probably going to go down as probably one of the most stressful years for Elon Musk and and I I can't necessarily say I fully empathize because I I certainly could never say I I to the level have the stress that he has to deal with.

But I do think I can empathize to a smaller degree and say that it's very difficult when you are trying to scale businesses myself for example, three of them, right? a media business and ETF actively manage ETF at that and um, and scale uh. House hack. uh I Think that's very difficult to do, especially if uh, if if you need to find new employees or or you know uh, build out different verticals. While at the same time dealing with difficult markets and macro and the Fed and social media stresses, it's very challenging and can be very stressful and things don't always go perfectly and then and the amount of criticism online doesn't necessarily help with that.

Some criticism is healthy, right? because some criticism actually helps align creators uh, or people who are being criticized into into potentially a better Direction. Other times, criticism can just lead to Echo Chambers which is not so great. uh Elon Musk and Twitter by the way are also getting calls to potentially relocate to Florida I Wouldn't be surprised for them to to leave, Uh, to to leave where they are here in the In California I Don't think Elon is or is uh I don't think Twitter being in California is entirely necessary. but we'll see I do think uh As I've mentioned in other videos it there there are some risks to alienating uh Democrats especially since I I think you have a higher percentage of Democrats uh or Engineers that are Democrats than Engineers that are Republicans So I'm not the biggest fan of that.

But I do think that to be very clear. I You know my largest position personally is Tesla Uh, it it is. Uh, I Think you you. There's such an amazing opportunity to invest in Tesla now for the long term.

but I think the short term. You know the next earnings report next. CPI reports what the FED does next. No guarantees and nobody knows what's going to happen.

Nobody knows, so who knows who knows is the thought. But um. anyway, these are some of the, uh, the latest here. Let's see if we've got a little bit of a commentary.

Oh yeah, this is. uh, why is this camera a little laggy there? Oh, there we go, that's better. Okay, great. I Like that.

All right. So so we turned into Dems and Republicans only knowing both sides screw us over. Well I Mean it's a little bit of a jaded point of view, right? it is. Ultimately, that is what our country is founded on is is the two political parties? if Elon sells them I Don't think he's going to sell the majority of his Tesla shares I I Would really doubt that.

uh, but who knows. If that happens, it could be one hell of a buying opportunity because Tesla stock would probably be quite damn low. New employees aren't an issue if you pay them something more than exposure and experience. Yeah, I disagree with that.

I Think employees want to feel part of something that they can align with. Uh, they can believe in. And and then there's there's hope for uh for stock compensation in the future, right? He has a high stress tolerance? It doesn't matter. I Mean a lot of people have a high stress tolerance, but that doesn't mean the stress doesn't wear you down right like you could have an elevated stress tolerance.

But then you deal with an extreme amount of stress and it still affects you. Someone here says I don't see Republicans buying Teslas Ah, you'd be surprised. You'd be surprised. this is a RuneScape uh sweater on top of my white dress shirt and uh, orange tie.

here. Is it possible that Elon Musk's actions end up causing Twitter to file bankruptcy? uh, leading him, uh, to reorganize his loans? Get a better deal for Twitter Maybe some 4D chess going on? Sure, Yeah, of course. uh uh. But the problem is there.

Here's the major problem he will lose control of Twitter if he goes through bankruptcy and he doesn't want to lose control. So I I Don't think that's likely I don't think that's likely at all because he does not want to lose control of Twitter and if he goes through a bankruptcy court, reorganization, trustees, and and other investors other parties related will will have much more control than he will and he'll lose control of Twitter which will will eliminate his his goals or prevent his goals from occurring. Do I think Instagram is trying to compete with Twitter Now with notes, you know I'm trying to figure out what that is I Just saw that pop up today I am on Instagram and Twitter obviously by the way, at Realme Kevin or I meet Kevin on Instagram I don't really know what the heck that is I clicked on some of them and I'm like, what is this, It's interesting, huh? Yeah, that is something quite interesting, anyway. Uh, all right, such a bright future.

I agree with that. I Do think the future is bright. You've been a real inspiration these past years. Thanks for being there! Congrats on putting your PP all over! Wall Street Thank you.

You know I think I am the only person in the world to have ever put their PP on the New York Stock Exchange and and I'm very happy about that. Did you update your iPad to try out Freeform? No. I'll have to try that. Thank you for that.

I will do that right now. Elon is literally what is this. Elon is literally just trolling on Twitter to bring viewers onto the platform. Yeah.

I Do believe that I Think he's bringing a lot of entertainment. Uh, but unfortunately, advertisers are very powerful. Um, he's doing. he's pulling a trump.

Yes, that is true. Okay, free form an app that offers a great place to brainstorm and bring your ideas to life. I'm gonna try that right now. I appreciate that I need to update my iPad so I'll do that.

Uh oh, Failed passcode attempt. That's not good Oh two failed passcode attempts. How am I failing three four I forgot my passcode I Can't believe that I must be doing something wrong. They use darn thing every day.

Uh, can you elaborate why you think mainstream media fear New Media Um yeah. Well I think mostly it's because uh, you know New Media has oh my caps lock was on duh I think New Media has a reputation for not caring, a carelessness. you know, uh, like just doing stupid things. uh, you know, illegal things, drugs, whatever it might be.

uh and so I think that's unfortunately a bad reputation that, uh, social media has. uh, you know, pranks. So yeah, Expense ratios. Yeah, you know people always ask about expense ratios for an ETF and I.

Don't think people realize it's like a huge money losing business. uh, like you, You know we we probably need five times as much in assets under management to break. Even so you know, I'm in no rush to change any real fee structures. although maybe 0.69 will be cool in the future.

Would you consider access to course member livestream for significant investment into PP I I don't think that is legal so I probably would say no to that and I don't really care if you touch my pee pee. there will be no BuyBacks sorry money better put new fact. Oh yeah, I'm not worried about BuyBacks Free form is seemingly nice. It's 100 not wanting the common man to be able to speak inconvenient truths to power.

Oh oh oh oh, Social Media. on on mainstream media. Yeah, yeah, yeah, potentially that's potentially true. Advertisers are only as powerful as their ability to convert to sales if nobody buys their products.

But but advertisers represent all products. so what are you just not going to buy anything? Come on man, dude, no, try again in five minutes. All right. I'm locked out of the iPad I know I know what the password is now but I just have to turn caps lock off I Talked about Binance this morning.

You know the outflows are serious. Uh I I'm not a big fan of buying real estate right now CZ Fud oh why is it so fuzzy? yeah CZ fought I'm concerned about Binance Fund shout out from New Zealand Thank you and shout out to the kiwis. Yeah, exactly Yeah. Absolutely.

shout out what's up, you know Elon Did tweet I feel like a direct basically responds to me when he suggested that in the long term. he thinks that uh Tesla's valuation will will be just fine. Let me see if I can find it because I've been making quite a few videos about this I'm obviously kidding I don't think he's directly replying to me. Let me just be clear about that.

Okay, I'm not that conceited. Uh, but um, you know I did think it's funny that uh, this was tweeted today so uh, my buddy Omar whole Mars catalog Love this guy. Unpopular opinion Elon Musk Owning Twitter Elevates Tesla's brand in reach and marketing. Yeah, no I completely disagree with this I Still love Omar Okay, you could disagree with someone and still love them.

In fact, I subscribe to whole whole Mars on on here So that means I pay him see how it's a subscriber. That means I pay monthly just because because I think he's awesome. People are so myoptic they can't see beyond their nose. This is true.

Yeah, Uh so Elon says I will make sure Tesla shareholders benefit from Twitter long term of course to this I reply and I say damn I wasn't done spreading fud and buying of course then people got like they're like fannies in a knot or whatever. panties in or not and I I had to clarify here to be clear to anybody who cares. I'm long-term bullish on uh Tesla short-term bearish I Actually tax lost, harvested a tiny bit and our trading challenge starts uh tomorrow actually. So I'm very excited about the trading challenge.

We know exactly what we're going to do. We're playing historic volatilities, Uh, every day around 7? A.M it's gonna be really cool and I think it's going to be a a great uh, a great part of the Sox and psychology of Money group. So join get lifetime access use coupon code PP which expires tomorrow evening. We extended that to get back to some of the emails we were flying all day.

Monday Uh, we were out of the office and then we were at the New York Stock Exchange So that the expiration was bad to have it last week because we couldn't reply to the email. so that'll expire tomorrow evening after the FED meeting. I'd love to have you lifetime access to the course member live streams and the programs. and I appreciate you all being here.

It's fun seeing at night, but he had details on the challenge. It's uh, it's it's we're playing Historic Volatility daily. That's the goal. I would say probably 80 sold options and and maybe 20 bought.

Uh, we have to be careful there. So anyway, uh, thank you so much appreciate you all being here. See y'all in the next one! Goodbye and good luck.