Michelle Obama and Elon Musk discuss the Wall Street Journal report on Musk's alleged drug abuse. Other exciting topics include office vacancies, "phantom debt," Lululemon's response to anti-DEI comments, and an Alaska Airlines incident. Pat McAfee accuses an ESPN executive of sabotaging his show, and JP Morgan predicts Joe Biden dropping out of the 2024 Presidential race.
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Quick takeaways
Lululemon distances itself from founder's controversial comments on diversity and inclusion.
Concerns arise over Elon Musk's alleged drug use and potential violations of federal and company policies.
Buy now, pay later loans see a surge in popularity, raising concerns about increased consumer debt.
Record high office vacancies in major US cities attributed to remote work and shifting work habits.
Deep dives
Lululemon distances itself from founder's comments
Lululemon has distanced itself from comments made by its founder, Chip Wilson, regarding the company's diversity and inclusion efforts. Wilson's comments do not reflect the views of the company, according to a statement issued by Lululemon. Wilson has previously made controversial remarks, including criticizing models used in the company's advertising campaigns. Despite his comments, Wilson played a significant role in building the Lululemon brand, which has become a major player in the athletic apparel industry.
Elon Musk's alleged drug use raises concerns
Reports suggest that Elon Musk has used illegal drugs, including LSD, cocaine, ecstasy, and ketamine, often at private parties with nondisclosure agreements. Musk's alleged drug use has raised concerns about potential violations of federal policies and company policies at Tesla and SpaceX. Some Tesla board members have also expressed worry about his drug consumption, and his actions have previously been investigated by the SEC. While some attribute Musk's behavior to lack of sleep and mental health challenges, others speculate that his unusual behavior may be linked to drug use.
Americans turning to buy now, pay later loans
Buy now, pay later loans have seen a surge in popularity during the recent holiday season, with a 14% year-over-year increase in usage. However, concerns have been raised about consumers accumulating more debt through these loans, as late payments and multiple loans with different payment dates can lead to increased consumer debt. Experts warn that this type of debt is often not reported to credit agencies, potentially leading to higher total household debt levels than traditional measures suggest.
Office vacancies at a record high in major US cities
Office vacancies in major US cities have reached a record high, with a vacancy rate of 19.6% in the fourth quarter. This is the highest rate since 1979, and the increase is attributed to shifting work habits, such as remote work and open floor plans. The trend of overbuilding in the past has resulted in an excess of office space, while the COVID-19 pandemic has accelerated the shift towards remote work and reduced the need for traditional office space. This has led to a higher vacancy rate and a record number of vacancies.
DeSantis may drop out of race if he loses Iowa caucus to Trump
Sources within DeSantis' campaign suggest that if DeSantis loses the Iowa caucus to former President Trump on January 15, he may drop out of the race. These sources also speculate that DeSantis may begrudgingly endorse Trump if he were to drop out. DeSantis' declining poll numbers and the potential for more endorsements and financial support for Trump after Iowa could significantly impact his decision.
Late-night comedy shows skew heavily against conservatives
A study by the Media Research Center found that 81% of political jokes on major late-night comedy shows targeted conservatives in 2023. Jimmy Kimmel had the highest rate of anti-conservative jokes, followed by Stephen Colbert and Seth Myers. The study highlights a significant bias against right-leaning subjects amongst late-night comedy shows.
ESPN and Pat McAfee's Incompatibility
Pat McAfee's move to ESPN may not be suitable for his free-spirited and unfiltered style. The corporate environment and potential pressure to conform to ESPN's standards could hinder McAfee's success and alienate his audience. The recent controversy and internal conflicts at ESPN, highlighted by Aaron Rodgers' vaccine comments, further emphasize the challenges McAfee might face. Ultimately, McAfee's authenticity and the clash with ESPN's culture could lead to his departure from the network.
The Potential Run of Michelle Obama
Predictions and speculation have surfaced regarding Michelle Obama's potential presidential run. While the likelihood remains uncertain, there is a growing belief that she may undertake the challenge to 'save democracy.' Pat and his co-hosts debate the odds, with some giving her a higher chance of running while others remain skeptical. The growing interest and discussions around Michelle Obama's future political involvement suggest that her potential candidacy is generating attention and interest in the political landscape.
Patrick Bet-David, Adam Sosnick, Tom Ellsworth, and Vincent Oshana discuss the Wall Street Journal report that Elon Musk's drug abuse is concerning Tesla shareholders, Pat McAfee calls out an ESPN executive for sabotaging his show, and JP Morgan's Michael Cembalest predicting that Joe Biden will drop out of the 2024 Presidential election.
9:07 - Offices around America hit a new vacancy record.
17:59 - Americans are racking up more "phantom debt" using Buy Now Pay Later loans
30:02 - Lululemon hits back at founder's anti-DEI comments, says they "do not reflect our company views"
38:38 - Elon Musk accused of drug use that worries boards of Space X and Tesla.
55:24 - Alaska Airlines plane has door blown off during flight.
1:05:42 - Pat McAfee claims ESPN executive is trying to sabotage his The Pat McAfee Show.
1:29:19 - Watchdog group finds 81% of all political late-night show jokes in 2023 targeted conservatives.
1:35:13 - Jo Koy bombs as the host of the Golden Globes ceremony.
1:38:24 - Rumors that Ron DeSantis will drop out of the 2024 Presidential Race following a loss at the Iowa Caucuses.
1:46:30 - JP Morgan predicts Joe Biden to drop out of the 2024 Presidential race.
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Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal Bestseller “Your Next Five Moves” (Simon & Schuster) and a father of 2 boys and 2 girls. He currently resides in Ft. Lauderdale, Florida.
