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Today on the Joseph Carlson 
Show, Apple is feeling the 

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pressure to get into AI, and we 
have lots of rumors of the 

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different AI integrations that 
Apple will be doing with your 

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iPhone. 
Netflix has been hit with a $170

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million defamation lawsuit for 
their documentary drama Baby 

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Reindeer. 
And Netflix apparently is 

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testing a UI change that is 
horrible, something that should 

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not happen. 
We'll be going over what they're

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doing with their user interface.
And then finally, we have the 

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return of Roaring Kitty himself,
live streaming to 600, 1000 

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concurrent viewers. 600,000 is 
an enormous number of viewers. 

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We're going to summarize some of
the key points that he's shared 

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in his stream. 
Let's first start off with a 

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portfolio update. 
This is my personal portfolio 

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called the Passive Income 
account. 

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I've been tracking this one 
publicly for years. 

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If you want to see the future of
this and different buys and 

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sells, I'm doing different 
things I do with this portfolio 

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and its performance. 
You can do so for free by 

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subscribing to the channel. 
If we look at the holdings, 

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there's been some that have 
outperformed this year and some 

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that have underperformed this 
year. 

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The two biggest outperformers 
have been the food companies, 

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Texas Roadhouse and Chipotle. 
Texas Roadhouse is bouncing 

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around $170 per share. 
This company not only has 

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appreciated a lot this year, 
it's up 41%. 

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So I have the total performance 
of $38,000 in gains in this 

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holding. 
And Texas Roadhouse has also 

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paid $2500 in dividends. 
I continue to hold this one 

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because I think it's a genuine 
compounding machine. 

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A company that has great 
fundamentals, great future 

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prospects. 
It doesn't trade at a crazy 

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valuation yet, and the company 
continues to grow with strong 

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momentum. 
While other restaurants like the

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Red Lobster and Cracker Barrel 
struggle, Texas Roadhouse 

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continues to grow its average 
weekly sales. 

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To put in perspective of how 
well Texas Roadhouse has 

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performed this year, if it was 
placed into the S&P 500, which 

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right now Texas Roadhouse is not
in the index, but if it was in 

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the index, Texas Roadhouse would
be the 13th best performing 

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stock this year out of 500. 
So it's done incredibly well. 

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Another great performer this 
year is Chipotle. 

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Chipotle's now at $3200 per 
share ahead of its stock split. 

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Chipotle is an elite tear of top
performing quick service 

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restaurants. 
The only ones that come close 

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are companies like Chick-fil-A 
which are private or other ones 

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like Cava which are much smaller
or ones like Wingstop which are 

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franchise. 
Chipotle sits in the mix is a 

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wholly owned restaurant that 
continues to put up incredible 

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sales growth. 
Their average unit volume 

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continues to grow while they 
open up new total locations. 

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Growing both of these at the 
same time, both their number of 

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locations and sales per location
is what's causing the stock to 

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go up. 
So as long as these two KPI's 

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continue, this stock will 
continue to rise. 

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Salesforce is a new purchase, a 
company that I was buying in 

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only two months ago and they had
a dramatic fall after their most

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recent earnings. 
It's an unfortunate circumstance

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when I'm already building a 
position in a company and then 

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it has a huge fall, but I have 
not lost hope with this holding.

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After Salesforce fell in price, 
I continue to buy the stock. 

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This is something that I try to 
do anytime one of my core 

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holdings falls. 
I try to pick up more and more 

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of the company at a cheaper 
price. 

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This time I snagged it for 
$221.00 and the stock has had a 

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bit of recovery. 
It went from 2:20 to 2:40 and 

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it's working its way back up to 
300. 

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Salesforce is currently my only 
stock in the red and I don't 

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know for sure. 
Nothing's guaranteed, but I 

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think eventually I'll be able to
turn this one back into the 

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green. 
So overall, all I've been doing 

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to generate these returns is 
holding on to good companies and

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buying more of them when they 
dip. 

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Now, one of the companies that 
I've held for quite some time is

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Apple, and this one has been a 
huge winner over the years, But 

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Apple has struggled recently 
with getting into the AI game. 

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Apple has been one of the 
outliers, one of the companies 

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that's not talked about much in 
the battle of AI because they 

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don't have a large language 
model. 

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They don't have a chat bot like 
everyone else, but Apple has 

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been reportedly working 
aggressively on their AI 

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strategy. 
Let's first take a look at what 

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Apple's actually done to get 
into the AI game. 

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The most interesting thing to me
beyond the open AI report that 

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we keep hearing about, Bloomberg
reported last week that you're 

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there's going to be deeper voice
controls for those first party 

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Apple apps. 
So not, not third party 

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necessarily. 
That to me is a signal of where 

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they're going. 
Meaning you can just tell your 

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phone what to do, that apps can 
talk to each other better, you 

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can copy and paste between apps 
what have you. 

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One thing that's mentioned 
there, I think goes deeper into 

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Apple's AI strategy. 
You noticed that he said that 

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the AI is reportedly going to 
work better than with other 

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random apps. 
Apple has done this time and 

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time again. 
They have deeper integrated 

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options with their core apps 
like FaceTime, Photos, 

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Messenger, than they have with 
other third party apps. 

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That creates a unique value in 
the Apple ecosystem. 

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So Apple's going to be 
integrating all of this AI stuff

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deeply into all of their core 
applications. 

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But what exactly does that mean?
They're of course planning on 

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revamping Siri. 
Siri right now is pretty bad. 

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The assistant doesn't do much 
for you. 

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It can answer basic questions, 
but it feels very rudimentary 

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and very old. 
So of course Siri's going to be 

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dramatically enhanced with 
artificial intelligence. 

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Apple's also reportedly calling 
their AI systems Apple 

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Intelligence. 
There's going to be new OS 

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features for the iPhone, iPad, 
and Mac, new software for Vision

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Pro, Apple Watch, and Apple TV. 
They're also going to be 

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wrapping AI into every bit of 
functionality in the device. 

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Customizable emojis, photo app 
editing, Safari webpage 

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summaries, automatic message 
reply suggestions, voice memo 

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transcriptions, catch up 
features for notifications. 

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Apple's reportedly working on a 
password app. 

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This has become a big business. 
There's lots of companies like 

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One Pass that have made a 
business out of selling a 

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subscription to a password app. 
Apple will build this into their

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ecosystem, not to charge users, 
but just as an additional thing 

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to keep you glued to their 
ecosystem. 

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They're reportedly working on a 
new calculator app for the iPad,

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a health app with improved blood
pressure monitoring, and so on. 

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The answer for Apple was pretty 
obvious. 

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They already own the most OP 
device in the world, which is 

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the iPhone. 
It has been incredibly difficult

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for anyone to come out with a 
better device than the iPhone. 

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With that device, they're now 
going horizontally, integrating 

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different applications, 
different functionalities like 

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they have for the past couple of
years. 

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Apple is simply further 
expanding the playbook they've 

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done, but this time accelerated 
by AI. 

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Apple's currently facing a lot 
of challenges, including 

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increased competition in China, 
increased regulation in the US 

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and Europe, and a stock that has
a higher valuation. 

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So there's a list of challenges 
for Apple stock. 

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But the reason I continue to 
hold it is I still believe they 

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have a Moat. 
I still believe the company does

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have a decent Moat, and if 
artificial intelligence can 

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enhance that Moat, it'll make 
the company more powerful. 

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So I'm going to continue to hold
this as a $43,000 position, 

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currently up $26,000 in it. 
Now we also have the epic return

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of Roaring Kitty where he had a 
live stream with over 600,000 

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concurrent viewers. 
That is an incredible amount of 

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viewership for a YouTube live 
stream. 

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For any live stream, but 
especially one for someone doing

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stock analysis. 
Obviously the amount of retail 

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investors and the amount of 
public interest following 

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Roaring Kitty or Keith Gill is 
massive, but putting on display 

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on YouTube really showed the 
extent of how big it is. 600,000

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concurrent viewers is really 
incredible. 

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And he went over a couple 
different things, but I think 

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the biggest take away was 
GameStop analysis. 

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GameStop is ultimately an 
antiquated business, is a 

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company that sells physical 
copies of games and game 

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merchandise. 
That's something that Amazon, 

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Microsoft, Sony, all these other
companies have taken their 

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market share. 
So Gamestop's existing business 

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is not good, but Keith Gill 
realizes that. 

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He knows that their current 
business strategy isn't great, 

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and he highlights a different 
path for GameStop. 

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If we look at the fundamentals 
of this company, you'll notice 

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that they have one thing. 
Although GameStop does not have 

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a great business strategy, they 
have a lot of cash. 

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This company is cash rich. 
They have only $386 million in 

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capital leases. 
They have debt of only $17 

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million and then a cash balance 
of $1.2 billion. 

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So Keith Gill's thesis on 
GameStop has moved from 

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investing into a legacy 
antiquated game company now to 

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investing in something that 
sounds a bit more like a venture

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capital investment. 
You hand your money over to 

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people that are executives, that
have different ideas of what 

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they want to do with the money, 
their founders and business 

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people, and then hopefully they 
can create value with the money 

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you're giving them. 
That is the thesis for GameStop.

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It's no longer a game company. 
It's a company that has billions

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in cash where the management has
time to figure something new 

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out. 
So all of this boils down to 

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100% trusting that the 
management team can figure out 

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something creative to do with 
this money, which of course is 

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not a great investment strategy.
The reason that VCs invest in so

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many different companies and 
they have so much 

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diversification is because 
there's such a high probability 

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that their investments go to 0 
that the management team cannot 

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figure out something productive 
to do. 

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GameStop is far more likely to 
burn investors capital than to 

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create long term value. 
We can see the same result with 

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AMC, another company where 
investors were counting on the 

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management. 
The value that the management 

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test created is a stock price 
that went from $600 to $5. 

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I believe it's Keith Gill's 
right to have this case, to have

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this position and to express his
case to a large audience. 

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That's what people do on CNBC 
every single day. 

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But I do not believe he's 
correct in his assessment of 

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GameStop. 
This is a stock not reliant on 

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fundamentals or future cash 
flows. 

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It's a stock reliant on a social
movement. 

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And as such, it's an incredibly 
dangerous investment. 

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Now, we also have news that 
Netflix is being sued for $170 

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million in a defamation lawsuit.
This is for the show Baby 

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Reindeer Fiona Harvey, a 
Scottish attorney living in 

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England, who says the character 
Martha on the widely viewed 

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limited series is clearly based 
on her. 

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She filed a lawsuit in federal 
court in Los Angeles. 

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It alleges that Netflix was 
negligent and intentionally 

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subjecting her to emotional 
distress and violated her right 

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to publicity. 
She goes on explaining that 

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Netflix told lies in the 
documentary that things were 

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exaggerated, which puts this 
documentary in line with every 

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other documentary. 
She said the defendants told 

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these lies and never stopped 
because it was a better story 

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than the truth, which should be 
surprising to no one. 

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Documentaries on every service, 
including Netflix, are shown 

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with an incredible amount of 
bias, limited information, 

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selective truths, and 
exaggerations. 

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Netflix said that they took 
great lengths to hide her 

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identity, but Internet sluice 
eventually get to the bottom of 

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everything. 
Netflix also responded saying 

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that we intend to defend this 
matter vigorously and to stand 

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by Richard Gad's right to tell 
his story. 

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Now this may seem like just a 
one off lawsuit, something 

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that's frivolous, but if she 
actually wins this lawsuit and 

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gets this ridiculous amount of 
money, $170 million, that would 

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set a precedent that would make 
it difficult for any other 

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companies to make documentaries.
Companies like Netflix would 

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have to calculate into the 
production and the ROI of their 

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documentaries the potential for 
paying out incredibly expensive 

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lawsuits, which would ultimately
result in a huge reduction in 

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documentaries made. 
Knowing that Netflix could be 

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held liable even after taking 
great lengths to hide her 

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identity could set a dangerous 
precedent. 

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So this is something I'm going 
to continue to follow. 

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Now, we also have news from 
Netflix that they're redesigning

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the homepage, and they say that 
they're going to simplify it. 

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At first this sounds good, A 
simplification's OK. 

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But then you see how they're 
doing this and how it's similar 

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to what Amazon's doing. 
Netflix apparently is testing 

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out and finding success in the 
user interface, where if you 

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freeze on a different tile, so 
you're looking through the 

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shows, and if you pause on any 
of them, it blows it up to like 

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full screen, and then it starts 
to autoplay, which I believe is 

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the worst user interface 
possible. 

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This is what Amazon and HBO Max 
already do. 

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Both of them have it so that you
have to continually scroll 

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through the tiles, otherwise if 
you freeze at all, that single 

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one takes up your entire screen.
Netflix says that we see members

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doing gymnastics with their eyes
as they're scanning the 

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homepage. 
Netflix's senior director 

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product tells The Verge We 
really wanted members to have an

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easier time figuring out if a 
title is right for them. 

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Even the comments highlight the 
problems with this user 

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interface design that everyone's
switching to. 

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Resizing a window on hover is a 
terrible UI choice, in my 

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opinion. 
One person says. 

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This is infuriating. 
It forces you to keep moving the

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cursor to be able to keep 
visually browsing what's on the 

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screen. 
If you ever pause just for a 

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tattoo long, it'll maximize the 
icon you're on, even though you 

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may be looking somewhere else. 
It kind of makes you look at one

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thing at a time. 
I'm usually a fan of the 

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different changes Netflix does, 
and this is the first one that 

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causes me alarm by moving to an 
inferior user interface. 

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Hopefully they don't make this 
move, but ultimately they'll 

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make the move they believe is 
right, which they test with 

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engagement metrics and with lots
of data that we can't see. 

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Now, that's all for this time. 
If you like this type of content

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and you want to see more of it, 
you can check out the Patreon in

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00:13:00,480 --> 00:13:02,000
the link in the description 
below. 

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00:13:02,240 --> 00:13:06,240
We also have over 100 exclusive 
episodes, and the Patreon 

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00:13:06,240 --> 00:13:09,880
membership also includes full 
access to qualtrum.com, which is

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00:13:09,880 --> 00:13:12,360
the stock analysis tool that 
I've built and use. 

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00:13:12,520 --> 00:13:13,480
That's all for this time.