03:24:42 · John Coogan, Jordi Hays
[03:24:42] S1: Signal says there will never be one for women in his humble opinion. The market dynamics are skewed because every woman is going to for the same guy West Elm Caleb effect. Oh, that's an old story. I remember West Elm Caleb. That was interesting. For dudes, it's an adverse effect. Yeah. I don't know. Reviewing women that feels like that would get disapproved by the app store for some reason. It just feels odd. I don't know. We'll see where it goes. But it it is odd that I don't I haven't heard rumblings about like there's a Reddit out there that already exists because like the whole idea of like the rating system app. What was it called? Tea Tea that app? Like that like what was new about that wasn't that it was an app. It's that it was a trend on Reddit. I think Reddit or some sort of community. Some sort of web based community beforehand. But anyway weird times. I was talking to a friend of the show about tea and she said it's what did she say? Something like it's a Stalinist ritual or something like that. And I kinda went over my head but I thought it was funny. [03:25:39] S0: Yeah. I don't know how I feel about it. We're we're trying to get the founder on. You can imagine he's pretty busy at the top of the app store and getting a massive amount of hate constantly. Yeah. I don't think [03:25:50] S1: But also probably doing a lot of project management. It's in his blood. [03:25:54] S0: It really is. Yeah. Product management.
03:25:57 · John Coogan
[03:25:57] S1: Let's let's go through this fun story from Charlie Munger. Very interesting to to dig into. In 1949, Charlie Munger was 25 years old. He was hired at the law firm Wright and Garrett for $3,300 per year or $29,851 in inflation adjusted dollars as of 2010. He had $1,500 in savings equal to about $13,570 now. A few years later in 1953, Charlie was 29 years old when he and his wife divorced. He had been married since he was 21. Charlie lost everything in the divorce, his wife keeping the family home in South Pasadena, not far from where I live. Munger moved into dreadful conditions at the university club and drove a terrible yellow Pontiac which his children said had a horrible paint job. According to the biography written by Janet Lowe, Molly Munger asked her father, daddy, this car is just awful. A mess. Why do you drive it? The broke monger replied, to discourage gold diggers. Shortly after the divorce, Charlie learned that his son Teddy had leukemia. Heartbreaking. In those days, there was no health insurance. You just paid everything out of pocket and the death rate was near one hundred percent since there was nothing doctors could do. Rick Rick Garran Rick Garran, Charlie's friend said Munger would go to the hospital hold his young son and then walk the streets of Pasadena crying. One year after the diagnosis in 1955, Teddy Munger died. Charlie was 31 years old, divorced, broke, bearing his nine year old son. Later in life, he faced a horrific operation that left him blind in one eye with pain so terrible that he eventually had his eye removed. Incredibly incredibly rough and then to go on an absolutely generational run after that, man, really speaks to resiliency and perseverance. What a wild story. Anyway, we need something to cheer us up. We need to go to Howard Lutnick Investments. His his investment bank Cantor Fitzgerald is offering to buy the right to businesses tariff refunds basically betting that the courts will overturn the tariffs What? From Ryan Peterson.
03:28:00 · Jordi Hays, John Coogan
[03:28:00] S0: What does Lutnick know? [03:28:01] S1: Financialize everything. This is wild. What does Lutnick know? Yeah. Mean, if you're maybe if you if you have if you paid a bunch of tariffs and you're expecting some refunds or thinking that there might be there, could get the cash flow now if your business is in trouble. That's obviously relevant customers. In other news, SpaceX direct to cell phone coverage is growing fast. Elon posted a chart that's, not quite going hyperbolic, but certainly growing exponentially. I didn't realize that direct to cell was was was growing as fast as it was. I I didn't even realize it was that available. I see the I see the the generic satellite service show up on my phone every once in while and it's usually a harbinger of very bad connection. But but but Starlink should be much faster. [03:28:49] S0: Well, that is a great place to end the show This has been a fun one. Yeah. Lots of range. Yeah. Leave us a five star review on Apple Podcasts and Spotify. It helps the show. It does. And we were charting today. [03:29:07] S1: We're climbing the rankings on Spotify. [03:29:08] S0: Number 14. [03:29:09] S1: You can help us. Like going. Listen to the show on Spotify giving us five star [03:29:13] S0: review. If you're on Apple Podcasts, I do recommend switching over to Spotify. Oh, yeah. We got video. [03:29:19] S1: Oh, that does make sense. Would [03:29:20] S0: be Anyway. A very We hope you have a fantastic day. We love you. We'll see you tomorrow. [03:29:25] S1: See you tomorrow. Bye. Cheers.