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Elon Musk is apparently losing his mind again at least according to the New York Times which had a wonderful puff piece on Sambangman freed for which I am extremely disappointed in the Times now I am still a New York Times subscriber and yeah, I still read some stuff in print, but in this episode we don't have to bag on the times. We actually are going to learn a lot of business lessons and maybe not from Elon Musk and the madness that's being reported within. Twitter Let's get right into it with my favorite part of this article. and the favorite part of the article is actually on B3 of the Times and it says here that Elon Musk Apparently when he came in, cut off the corporate credit cards for Twitter employees. three employees reported this to the times and one of those three people said quote. She tried to buy farewell drinks for colleagues after the mass layoffs, only to have her corporate credit card declined at the bar. This is point One for Elon Musk This is absolutely brilliant. In fact, I Think corporate credit cards are absolutely the worst thing that you could have at a company. The best way in my opinion to make sure that expenses are properly managed at a company. And this, by the way, is exactly what we're going to be doing with House Hack when we have real estate investing company that is fixing up properties is you have folks spend stuff on their own credit cards. Forget about the points. It ain't worth the shrinkage you're going to be dealing with in the Lost product you're going to be dealing with. Have people if they need to buy stuff themselves, buy it themselves, and then request for reimbursement. If an employee doesn't have enough money, then you give them a small cash account. Hey, here's 500 bucks. Make sure at the end of every month it gets topped off to 500 bucks. How do you get reimbursed? You submit the receipts and an explanation of what the heck you bought with the money. That is how you make sure a company operates with actually getting receipts for every expenditure. Because think about it the other way. Well first, remember if an employee is on the hook for paying off their own credit card bill, they're going to ask for the reimbursement And guess what? they're going to keep the receipt. But if you have a company credit card and people are just nah, drinks here. Drinks there. First of all, why the hell are they buying farewell drinks on the company credit card? anyway? I don't know. I Mean it's one thing. if like the boss, like Elon's like drinks on everyone, right? That's one thing. But there's just random employees swiping the corporate credit card. Sounds like total utter mismanagement first of all. But second of all, if an employee swipes a company credit card, guess what? Oh, I lost the receipt. Who pays the bill? Well, obviously the company, because otherwise you know the credit card's not getting paid off. so the company takes the L. When the employee loses the receipt, the employee loses the receipt and it's on their own credit card. Company might still decide to take the L but that employee is going to be looking embarrassed as opposed to the willy-nilly credit card. So this is actually one of those where I like to say that's actually a good lesson. What else do we have here apparently? Elon Musk took over and refue and and you have to remember a lot of this is alleged in the New York Times We don't know if this is actually true, but I wouldn't put it past Elon Elon Musk Apparently allegedly refused to reimburse travel vendors for current bills that were incurred by current and former employees. Musk's staff said the services were authorized by the companies former management and not by Elon Musk Therefore, they wouldn't be paying and they started ignoring phone calls from those companies. This one's a little tough. I Mean if you have payables that the company incurred I Don't think it's a good idea to burn the other relationships that you have Now you can't do business with those travel companies anymore. Ul's probably like that's okay, don't want to do business with them anyway. And I mean they got a lot of crazy willy-nilly expenses there. Who knows. Maybe those are like first class or private flights and the airfare is really insane. but that one I don't know I can't give Elon a point for that one. I'm gonna say that's probably uh, an L uh point for Elon So that puts us at one point win 1w and and one loss there for Eli I Think that's a bad way to go about it this one. I Actually don't mind as much though. and it is the potential for renegotiating some of the Twitter leases since they basically fired 50 to 75 percent of their Workforce They don't need as many people anymore around the world, but they're under lease contracts usually commercial lease Agreements are five to seven years, but if a company's potentially going to fire bankruptcy or all of a sudden, there are no more employees there and you have absolutely no use for that company. Uh, that company property. Even though technically you're under a contract, circumstances have changed with such a an extreme to such an extreme level that I think corporate landlords would be wise to renegotiate something even if it was something like hey, all right, fine. uh, keep 20 of the office will lease out the other 80 to somebody else and let's negotiate your lease down to maybe 30 of what the previous payments were. It's better than you paying zero and just giving us the middle finger, which is possible now of course Twitter could get sued over this, but it's not that easy to sue tenants. You have to remember, tenants who are in possession have a lot of power and lawsuits in in tenancy Court Business or not. tough, not a business expense any landlord wants to incur. and I think a reasonable landlord would prefer to negotiate something. but uh, who knows. Could be some more legal issues, but you know what? I'm sure they've got plenty of legal staff left over at Twitter to deal with all the madness. Hey, I do they have to deal with all the FC FTC uh investigations as well? uh into into users data right? The Uh, the Federal Trade Commission and the FCC I think both of them are involved I'm not exactly sure which agency it is, but one of them or both of them are investigating the safeguarding of users data and this is why you have the Biden Administration somewhat implying that hey, uh, you know, don't you have like uh, investors from Saudi Arabia that helped fund potentially a billion plus dollars of your Twitter investment And what access do they have to company data I I Also I think that's kind of a weird request. like if you're an investor from Saudi Arabia and you're like Elon I want to invest in your company but I want all your user data I don't really see Elon going for that. so uh, that's not really for the point score on the lease. I'm gonna give a w to Elon on that one. so I'm gonna say two w Elon one L for w I Definitely don't have to give Elon an L for his crazy, uh, like trumpisms. Now I'm not trying to bag on Trump here and I'm also not not trying to bag on Trump here I think Trump was I Think we can all agree that Trump was a little bit of a loose cannon with some of the things that he would say on Twitter and some of you all argued he was just a loose cannon with everything. but I Don't Don't think that if you're a CEO you should strive to be a loose cannon. especially when you know all of your Madness is kind of hurting your Twitter and Tesla shareholders. most importantly, your Tesla shareholders and I'm really feeling that one. Okay, but I gotta give Elon an L for this. You know when the Associated Press comes out and says, hey, you know we interviewed some people, some Online safety experts and they think you giving amnesty to suspended accounts who've previously, maybe, uh, violently threatened people or or whatever right? We think that could lead to a rise in harassment, hate speech, or misinformation. Now obviously Elon's gonna argue. Hey, is you know, as long as somebody didn't do anything illegal, uh, they should come back and and no, that's okay. I I can agree with that. I Guess threatening to kill somebody would probably that's probably illegal. But anyway, the point is, the Associated Press posted this uh and uh, didn't realize that it was so far out of uh, the camera there for a moment. Anyway, the Associated Press here. you know what we'll do there. Salt the Associated Press posted this here and uh, Elon Musk replies Associated Press is such an ex expert in misinformation Twitter Couldn't hope to compete. a little rough, a little rough and and I know some of you might be saying it's true though. I get that I I appreciate that perspective I Just don't think even if it's true, it's the best idea for Elon Musk to be spewing this kind of stuff because some people are just going to have this belief of like Trump's already back and his name is Elon Musk just kind of spewing uh stuff. uh. and in this example here, I mean I look I felt like the media was rigged against me when I ran for governor in California and I had journalists come to me professional journalists who once whom I've respected and uh and and you know they're on TV they're still on TV in California and they've come up to me at Coffee meetings or otherwise and have said Kevin like the corporate side rigged. That's why you don't get as much coverage running against Gavin Newsom I'm like ah, ah and I'm looking at the wrong camera again. Makes sense I'm messing up camera angles today. Yeah, whatever. Anyway, uh, next one is. uh. after our Twitter's contract expired with one software vendor Elon under Elon Musk's ownership, that company voided a discount it had given to Twitter I I Really doubt Yvonne cares about that voided discount. So we talked about a credit card thing. so we're two for two, two wins, two losses, and uh oh yeah. here's an interesting one: Elon Musk argued that the company food cost approximately 400 per lunch served. That's probably because there was a lot of waste and all the food wasn't actually being used. And the payroll costs and food costs are really, really high to keep a stocked kitchen. Imagine like those cruise ships. Like how much of the stuff doesn't get eaten and then they they I mean they they obviously try to reuse that stuff and then you know, like, oh, the beans didn't get used. Let's uh, turn them into refried beans. Yeah, I mean like I I Don't know if that's actually what happens, but I Just imagine. uh. Musk also issued an order to slow or in some cases, halt transfers of funds to Twitter's vendors and Contract Services this is also relating to the travel one. Uh oh. I'm gonna give him a W by the way for the cafeteria thing I Think cutting back on that's actually a really good idea. Just cut back on some of the perks. get the people out who are only there for the perks, keep the hard workers, rehire good people, and then once you're profitable, slowly start reintroducing perks. I Actually think that's smart. so that's three. Elon two uh, W's and and one L And apparently Twitter's Partnerships team was also instructed to renegotiate its multi-year content deals with major sports entities. like one, it struck with the NFL in which the social media company pays the league to produce exclusive audio and video content for its platform. Quite interesting. Okay, then uh, you know. I think renegotiating is kind of lumped into some of the other things. I Mean we could say that's another W for Elon So you know, give him four if we'd like. Uh, okay, yeah. I'll definitely give him four because they're also trying to renegotiate deals with Amazon and Oracle uh, who probably would you know provide some kind of uh, software server uh, setup? This is, um, honestly, that's it's There's more W here than there is. L I Think some of these moves are brilliant business lessons. Uh, remember that it's very, very expensive to have employees and cutting 50 to 75 percent of the employees and the platforms apparently at least looking like it's doing fine if not better. God Look, I've got a lot of respect for Elon It's doing pretty well, you know? keep it up again. Maybe shut the F up on on Twitter with with some of the strong opinions. but um, hey, there you have it. Thanks for watching Happy Black Friday and we'll see in the next one. Goodbye.