You're listening to Later with Moe Kelly on demand from KFI Am six forty.
Mister moke Keller here, we're live everywhere on the iHeartRadio app and Elon Musk
News. There's a group of Tesla's shareholders and they're asking investors to vote against
the compensation package for Elon Musk. Get this, it's worth presently more than
forty billion dollars. I didn't say forty million. I said forty billion,
one thousand times more, forty billion dollars for Elon Musk. And if you
notice that forty billion is somewhat similar to the forty billion that he paid for
Twitter. Yeah, you're not the only one who noticed that. If you've
been paying attention to Tesla's fortunes. As of late, the stock price has
fallen considerably since the beginning of the year. It has lost twenty five percent
in value. At present, its stock prices one hundred and eighty six dollars.
It started the year at two hundred and forty six dollars thereabouts, and
this is an improvement of where it was just a month ago. It had
dipped to as low as one hundred and thirty eight dollars if you were a
big Tesla investor, then you've lost about a quarter of your valuation with respect
to your Tesla shares, and so investors are becoming more and more vocal.
This is actually a continuation of a conversation we've had where we see and we
hear Elon Musk almost on a daily basis. He will make his pronouncements on
X slash Twitter, they'll be covered in the news, or he'll give an
interview to someone or somewhere, and you hear all the things that he's talking
about, but it doesn't seem that he's really focusing on Tesla. It's almost
impossible. The shareholder group, which includes New York City Comptroller blad Lander,
SLC Investment Group, and Amalgamated Bank, set in a letter to shareholders that
ratification of Musks pay package would do nothing to promote Tesla's long term growth and
stability. And also they made the argument that Elon Musk is not a full
time CEO, which is accurate. He's only a part time CEO. He
has spread between SpaceX and tweeting on X. And also, I guess Tesla
and if you looked at the stock price, you'd have to wonder whether he's
putting in the adequate sufficient amount of time to help Tesla improve its fortunes.
It's received a lot of bad press lately, with the firings over at Tesla,
the recalls and more. It doesn't seem to a reasonable person that Tesla
is headed in the right direction in a corporate sense. It's be pretty difficult
to justify a forty billion dollar compensation package given the most recent fortunes of Tesla.
I don't know if this is going to a snowball and you would have
like a corporate takeover and a removal of Elon Musk, but this would be
the first step. You can see that the people who were quiet before are
getting increasingly louder. The group also said quote shareholders should not pretend that this
award has any kind of incentivizing effect. It does not. What it does
have is an excessiveness problem, which has been glaringly apparent from the start.
They also noted that as shareholders ratify the compensation package as possible that another plan
will be put forth next year. I don't know what is going to happen
here, but I do know that at more and more people inside of the
Elon Musk Empire are looking to Elon Musk for better leadership. Last month,
Tesla asked shareholders to restore must pay package, which was valued at fifty six
billion at the time fifty six billion, and at that time, it was
also asked to shift the company's corporate home to Texas. The changes will be
voted on by stockholders at a June thirteenth annual meeting, and I'm quite sure
if the stock price should be worse off between now and then, that will
directly impact the vote. Maybe Elon Musk will put more time and attention into
Tesla's problems and also issues, or he'll spend more time tweeting. I don't
know how he has enough time to put this way. I don't know why
he ever does anything on X. I don't hear of Mark Zuckerberg spending a
lot of time posting on Facebook. I might be wrong. He might have
a burner account, but I've never seen him post all of his opinions.
I see Mark Zuckerberg possibly working out, doing some Brazilian jiu jitsu and keeping
him shape, but that's about it. He's not spending his time on social
media. Elon Musk he spends a lot of time on X, and it
sends a message to investors that he's not exactly focused. And if Tesla starts
to fall, then you'd have to wonder what is going to happen to SpaceX.
And obviously, well, I should say obviously, seemingly, X seems
to be a lost cause in a wealth generation aspect. It's not bringing in
any advertising revenue, it's not growing as far as unique users. It is
not doing anything which originally Elon Musk planned for it to do. And he
said many times without the advertiser revenue and without growth and subscriptions, X slash
Twitter as you know, it will fail. Well, it seems like it's
just a matter of time before he actually pulls the plug and declares bankruptcy.
But does it take Tesla with it? That is the question. It's later
with Mo Kelly Canfi answers forty live everywhere on the iHeartRadio app, and we're
gonna go back to California. Great news. The California Assembly has passed a
bill allowing for an Amsterdam style cannabis cafes to take root no pun intended here
in the state. We'll talk about that next. You're listening to later with
Mo Kelly on demand from KFI AM six forty Starbucks coffee houses. Y'all might
be in some trouble. There's a bill which is passed the State Assembly and
it would allow amsterdamn style cannabis cafes here in California. And it was passed
by a vote of forty nine to four, so it is pretty much unanimous.
It is not something which passed on partisan lines, wanted on both sides
of the aisle. And the thing is, it's not a done deal because
Gavin Newsom vetoed in earlier version of the bill. But there is legislative legislature
support for this and what does it mean. Well, the bill would authorize
local jurisdictions to allow licensed cannabis retailers to prepare and sell non cannabis food and
non alcoholic beverages. It'd be like a coffee house. The bill would also
allow the cafes to host live music and other performances, you know, like
a coffee house. Even I didn't know this next part. Under the current
state law, consumers can consume cannabis at a dispensary, but dispensaries at least
up until this point, penning this Bill of is signed in the law,
they couldn't legally sell non cannabis products like coffee and food, but they like
they can in Amsterdam. This could be monumental in terms of how people would
congregate and people would hang out. You know, how you would go to
Starbucks, use their internet, maybe do your book report or your turn paper,
or hang out with friends to a meeting. Imagine if that ability and
capability was extended to these dispensaries where you would go in and you could buy
your product. You could sit down, listen to some live music, maybe
eat an edible or two, listen to some spoken word. That would fundamentally
change probably our economy on many levels. I don't know if it's going to
get back to Gavin Newsom, and I think Governor Newsom knows that it would
have all sorts of unintended consequences on the economy and how that would impact competition.
And I say this to someone, I don't do marijuana. I don't
do cannabis. I don't say that as a value judgment. It just doesn't
do anything for me. It's not my thing. The smell alone just repulses
me. I can't even get past the smell. I can't speak for Stephen,
can't speak for Twala or Mark. Whatever y'all do is what y'all do.
It's just not my thing. The smell has already been always been a
turn off for me. But I can see how this would change how people
would congregate and hang out. I've never been to Amsterdam, Mark, have
you been to Amsterdam? I have years and years ago, and naturally I
tried. At least some of the local material had to be led back to
my hotel room, like I was snowblind and I had a shirpa. Can
you paint a picture for me what these places were like and how would or
it would or would not translate to California. Well, my memory is that
it was very cozy, very casual. I didn't see it any problems nobody,
you know. It wasn't like soccer hooliganism. I mean, and part
of the problem, like if we talk about, say hooliganism, the last
call hours in the UK are really early, so people binge, drink and
they get out of control and violent. I didn't see any of that in
Amsterdam. It was all perfectly mellow. To use to use a word kind
of related to weed. I didn't see any problems at all. The only
in fact, the only problem I had was that I went into a cafe
and tried one of the chocolates and the guy said, just eat half of
one of those. So I ate, and you ate all of it.
I ate two of them, boy, And so you know the problem with
I mean, there's going to be a learning curve, is what I'm trying
to say. But I think that things have been decriminalized in the United States
long enough so that the curve won't be that bad with us. Yeah,
I'm not in the way of progress. I think this is an eventual We
will get there, and we've been moving towards this in an incremental fashion.
But it would change our economy if you could have people hanging out and eating
at these dispensaries and listening to live music or a poetry slam. You really
paint a hellish picture there. No, no, no, it's not a
hell's picture. I'm just saying, this is where all of this is moving.
Yeah, yeah, Heaven forbid, people relax and have fun in public.
I didn't make a value judgment twelve. They have Wi FI. It's
over for the Starbucks world, right, You might sit there and get online
and do your work and have an edible along with a cappuccino. Yeah,
you're done, You're done. That would transform what these group places would be.
That Starbucks is, that is the place where people usually go to group
have these impromptu meetings. You can hang out and depending on if it's like
a smaller coffee house, it's not uncommon. If you went to like a
Tanners or a Piece, they would have live music and you if you open
this up to dispensaries, there's no way that these other places could compete because
the hardest part, or the most difficult part is the dispensary aspect of it.
The cost of introduction into that market is astronomical from what I understand,
And if you allow them to provide extra value where you can buy product and
sit there and use product and be entertained, there's no way coffee houses would
be able to compete. Hell, libraries would be able to compete at that
point. Yeah, that's exactly what libraries need. By the way, hookahs,
they need hookahs in libraries. Yeah, that's the closest thing we have
to is a hookah lounge, or as I call it, a hook a
lounge hook it please. But the spread of these things is beneficial in at
least one sense, which is that we will see less weed tourism, which
is where you get some of the troublemakers. The more common it is,
the less people are going to travel for it. I'll take your word for
it. I just don't have any first hand knowledge or reference point to say
where all this is, where it's going to lead, whether it's good or
bad. I just know from an economic standpoint there's too much money to be
made for it not to happen. So I think it's destined to happen,
if not immediately, sometimes shortly thereafter. The situation we had could not last
indefinitely. Too many people's lives. We are being ruined for no good reason
at all. Well, I've always been for decriminalization, but that's a separate
conversation for as opposed to proliferation or recreational use and how available it is,
I think those are two different conversations. I don't think it ever should have
been criminalized. Well, as we pointed out before, one of the main
reasons it was was during the Nixon administration. Nixon wanted to clamp down on
hippies and minorities. And I think I think we've had enough of a time
out on that now, don't you. Well, that's a that's a loaded
question as it was. Yeah, ooh look at the time. See you're
listening to Later with Moe Kelly on demand from KFI AM six forty. Me
personally, I never quite understood the whole Peloton thing. I'm not going to
pay you money to yell at me, scream at me, insult me virtually
month to month a month. I'm just not going to do that. I'm
not I'm not built that way. Yeah, especially these absolute strangers. But
I have friends who love Peloton love. I just don't get it. But
Peloton is back in the news. You might have heard the news report.
At this point they are pausing the use of any and all Diddy music on
its platform. They're saying that they're taking action and they won't be using any
Combs this music in classes moving forward. Now, Twala, I need your
insight on this as well, because when and I'm someone who worked in the
music industry, as did Twala Sharp, when they say Sean Combs' music,
does that mean just the music that you can hear his voice or does that
mean the artists that he helped produce? Does that include Mace, Does that
include Notorious Big? Does it include total? You know what I mean when
they say Sean Combs's music. He was a master super producer and his fingerprints
are on a lot of music, even though he wasn't probably featured in the
song. When reading this press release from Peloton, it seems that they are
targeting anything having to do with Sean Combs, which would be the entire bad
Boy catalog. I don't know if that extends all the way to say remixes,
because as you were pointing out, he has remixed records for almost every
R, R and B and or rap artist that came out in the mid
to late nineties through the early two thousands, So his impact on music is
indelible. And that's a lot of music that Peloton will be looking to cut
or pause. So I'm thinking that when they say this, they are talking
about puff Daddy music in particular, anything that he is featured on they will
no longer be playing. And this is not new for Peloton. They have
taken steps to remove someone's music catalog from their classes before. They did it
with Yay Kanye West, and that was dating back to his anti Semitic rhetoric.
Peloton said back in twenty twenty two that they would no longer play Yay's
music in any of their new classes, and they also said that they purged
all of Yay's music from the platform. And that's another question. When you
say all, does that include when he was doing a verse on the Brandy
record, you know, talking about our love. I always wonder, I
Beginek they would have anything having to do with Kanye. And that's saying a
lot for Peloton because I know that A Stronger Record is one of the most
played records in the Peloton catalog in any music class period, but that one
in particular. Diddy has a lot of music that actually plays towards Peloton and
the workout courses because a lot of his music back in the day was really
energetic, almost workout kind of music. So this does stand to impact him,
but more importantly, Peloton cutting it out, it says a lot for
anyone else who would be looking to make a move against supporting Diddy property more
because this is going to go further than just Peloton. Okay, And here's
the question in the conversation we always have as far as cancel culture and whether
it exists or not. I don't believe that every radio station in America has
stopped playing Ditty's music. I don't believe that for a minute. No,
I don't think so. Right, So, right there, we know that
Ditty's not canceled. And if I use all my the things which are available
to me, tools which are available to me, I probably could call some
radio stations to find out, Hey, are you still playing Diddy? But
it's not worth the effort. I can assume that he has not been excommunicated
from all radio stations, so he's not canceled. Will his marketing opportunities be
limited, absolutely, but he's still generating passive income. And you might have
heard Mark Ronner detail another woman who's come forward alleging a two thousand and three
if I'm not mistaken sexual assault. We said, other people are going to
be coming forward. I said there would be other videos. We haven't seen
other videos yet, but just keep on waiting because now the floodgates are open.
And that's part of the reason why Ditty was so quick to settle with
Cassie Ventura. If anybody knows where the bodies are buried, the proverbial ones,
not talking about the alleged real ones. And I'm being serious, I'm
talking about the proverbial ones. If anyone knows, it's Diddy himself. That's
why he settled immediately inside of twenty four hours, trying to prevent exactly what
is happening right now. If he was so quick to pay Cassie, and
he was so quick to pay to bury that video, how many other times
do you think that he's paid to keep stuff from coming out. There is
probably a lot out there where he's nervous about coming to the surface. This
is just the beginning of the story, or as they say, the end
of the beginning of the story. We're not even midway through this. There
will be other accusers. There will be other revelations, there will be other
videos, there will be other companies in which they will be forced to make
very difficult decisions. You may not know this, but he was one of
the founders of Revolt TV. He is no longer associated with it. But
even Revolt TV came out and said in so many words that we can't condone
this, we can't associate ourselves with him anymore. And we stand with the
accusers. I'm paraphrasing, but that's pretty much what Revolt TV had to say.
This is going to get much worse for Dibby before it gets better,
and that's saying nothing of the looming federal investigation. Remember he had two residentss
rated by Feds, so there is still a major shoe to drop regarding allegedly
either sex trafficking or allegedly drugs or drug trafficking and anything else which may be
tied to that. We don't know what the Feds have, but we do
know that there will be other people coming forward. And Peloton is probably one
of the first companies to fully disassociate itself with Sean Colmes, and I don't
think they were even monetarily tied. I'm quite sure they paid something for the
rights to use his music, but they weren't exactly tied to him. But
this is the first There'll be many more in the future. You're listening to
later with Moe Kelly on Demand from KFI AM six forty. Before we get
out of here very quickly, I'm gonna say the Cockroach story for tomorrow to
Wallace, so just put that on a run for tomorrow. I want to
spend more time with that. Are we really gonna go to the movies this
Friday? Are we really gonna go to the movies this Friday? Damn back
out. I don't do well late at night when it comes to movies,
dude. You best take yourself a grandfatherly nap and be ready, and you
can take a pretty solid nap between the show being over in the movie,
right. I cannot go to sleep that late for any type of nap.
Any nap after seven o'clock is doomed. Yeah, no, he can't.
He can't sleep after he gets off. He ain't go sits like two three
o'clock. Just has to be during the day. So trust and believe.
There's nothing you need to worry about out during the day on Friday. There's
no interviews the show. Mark's already got his review, probably already lined up.
Nauticle will be here. The show is pretty much done for Friday.
We got the contest, you know, T shirts and movie codes worked.
It's a very easy Friday. You don't have to like do much during the
day except for take yourself a nice nap, dude. And there's a pretty
goffy couch here for you as well. Yeah, the newsroom, newsroom.
I might have to go in the newsroom and use that and hopefully Aaron or
Bethany won't be in there, because I will be smart Friday. If you
know it's going to be empty here on Friday and you'll be left alone,
you'll be fine. Oh yeah, yeah, like yeah, you of all
people I should trust you. Nobody will do oh no, nobody will draw
on your forehead. You'll be fine. There will be no pranks played on
you. We want you to be all rested up for the movie. Okay,
tell me again, what time does the movie start? Eleven thirty?
And Mark, don't you have to like stay till midnight sending it close.
I might have to catch up with you guys a little bit later because Fridays,
I'm out at eleven thirty. But they'll have tons of previews, so
sure I'll get there. And I say that means it's going to start at
midnight. That's just it's opening night. They have I don't know how many
trailers who are going to show all the summer movies. Yeah, then,
and you know I can't forget about Nicole Kidman's intro. Oh of course,
that's an extra minute and a half right there. Well, who doesn't want
to soliloquy on the on the magic of going to a theater and having people
open mouthed chump popcorn in your ear. That sounds almost appetizing. No,
never, No, I mean I could have gone for the midnight show,
but I was trying to get it a little earlier for you. Mom.
Oh, it's all the same after a certain point. You know, if
you would have started the movie at ten fifteen, I might have been able
to swing that. But you have me like an hour and a half or
more of downtime between the end of the show and the beginning of the movie.
Woo. I mean ten fifteen the movie would have to be showing in
the lobby here. That's right. Make it happen, captain. Look,
it's not Look, it's gonna happen while we are there. You will be
entertained. Listen, that's not the problem. I have to drive home afterwards,
so do we all. It's only a two and a half hour movie
right before sun drive home, right, I know you'll cross the paper boy
when when you get home. And look, look, just throwing a nice
comfy Mumo take out your teeth, put them in a cup next to you,
and one of those cup holders in the seat. I'll be right next
to you. I'll pinch you if I If I see you nodding off,
we're gonna have a great time. Look, I don't do It's not like
I would be doing the Walk of shame. But it's kind of like the
Walk of shame where you're getting home and the sun is coming up and you
realize I haven't been to sleep yet. No, it's way too late.
I look. You want to laugh about me putting my teeth in a cup?
Yes, I am old man. Get off my lawn, eat dinner
at four o'clock, go to sleep at six o'clock. If I had my
own way. Yeah. What's even worse is the walk of shame is going
to be after spending a late night with three dud guys. There's no upside.
So where have you been out with the fellas? Oops? No strip
club? Something you want to tell me? It's like, there's like no
upside. So who was with you? Stephan? What was Stephan warring?
Khakis shorts? What are you talking about? She's gonna know your lying if
you say answers always shorts, all his shorts. All right, I'll try
to wrap my mind around it. I got three we've never been before,
not just entertained. That's not helping the case at all. That's that's not
that's not making me more enthusiastic. Okay, that's not drawing you towards it
more. No, no, no, no, that's giving me more dread.
Don't scare them off, foush. I think we got this in the
bag fair enough. All right, we'll see you all tomorrow and we'll give
you the cock road story tomorrow. I promise it's good. It was worth
more than four minutes, so I want to save it until tomorrow. Can
If I am six forty, we are live everywhere on the iHeartRadio app.
If you missed it, we got it k SI and kost HD two Los
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