1
00:00:00,080 --> 00:00:02,240
Welcome back everyone today on 
the Joseph Carlson Show. 

2
00:00:02,560 --> 00:00:05,360
Remember the company that 
supposedly a monopoly, the one 

3
00:00:05,360 --> 00:00:08,080
that we're told makes machines 
that are so sophisticated, so 

4
00:00:08,080 --> 00:00:11,760
expensive, so complex that no 
one else can replicate them? 

5
00:00:12,280 --> 00:00:15,720
They're called EUV machines, 
extreme ultraviolet light 

6
00:00:15,720 --> 00:00:18,320
lithography machines. 
They're so complex and 

7
00:00:18,320 --> 00:00:20,640
sophisticated that they cost 
hundreds of millions of dollars 

8
00:00:20,640 --> 00:00:23,960
to make, and even the second 
closest competitors are nearly 

9
00:00:23,960 --> 00:00:27,360
10 years behind. 
This company has had a share 

10
00:00:27,360 --> 00:00:29,200
price. 
It's traded flat most of the 

11
00:00:29,200 --> 00:00:33,000
year until now. 
All of a sudden, ASML share 

12
00:00:33,000 --> 00:00:35,680
price is spiking upwards. 
It's going parabolic. 

13
00:00:36,000 --> 00:00:39,520
Look at the chart. 
It's up 27% in the past 30 days 

14
00:00:39,520 --> 00:00:42,480
alone. 
Now it's up nearly 40% over the 

15
00:00:42,480 --> 00:00:45,080
trailing year. 
What is going on with ASML? 

16
00:00:45,080 --> 00:00:47,840
Why is the share price now 
suddenly spiking upwards? 

17
00:00:47,840 --> 00:00:50,240
Have investors and analysts 
suddenly realized? 

18
00:00:50,240 --> 00:00:52,600
Have they suddenly come to the 
conclusion that ASML is a 

19
00:00:52,600 --> 00:00:54,640
monopoly? 
What has changed? 

20
00:00:54,960 --> 00:00:58,960
In fact, ASML stock price just 
two months ago with their most 

21
00:00:58,960 --> 00:01:03,760
recent earnings report was $750.
Now it's climbing up to $1000 

22
00:01:03,760 --> 00:01:05,480
per share. 
Why did this happen? 

23
00:01:05,480 --> 00:01:07,800
And more importantly, how can 
you anticipate these type of 

24
00:01:07,800 --> 00:01:10,520
moves in the future? 
After all, just two months ago I

25
00:01:10,520 --> 00:01:14,600
said that I was bullish on ASML 
and I bought $15,000 of the 

26
00:01:14,600 --> 00:01:18,240
stock at $750 per share. 
My total gains in the company 

27
00:01:18,240 --> 00:01:21,920
now are above $20,000 in only a 
short amount of time. 

28
00:01:22,440 --> 00:01:24,840
So we're going to be discussing 
what's going on with the FML, 

29
00:01:25,040 --> 00:01:27,720
why the sudden surge in stock 
price, and how you can 

30
00:01:27,720 --> 00:01:31,040
anticipate these type of moves 
in the future and buy a head 

31
00:01:31,040 --> 00:01:33,240
like I did in this case. 
Now, of course, we have a lot of

32
00:01:33,240 --> 00:01:35,480
other news to get to. 
For example, NVIDIA just 

33
00:01:35,480 --> 00:01:38,600
announced a $100 billion 
investment into Open AI. 

34
00:01:38,600 --> 00:01:41,720
The CEO, Jensen, went on to TV 
to share his excitement along 

35
00:01:41,720 --> 00:01:44,400
with Sam Altman about this 
investment and explained it a 

36
00:01:44,400 --> 00:01:45,480
little. 
We're going to be looking at 

37
00:01:45,480 --> 00:01:47,200
that. 
We also have news of a proposed 

38
00:01:47,200 --> 00:01:51,640
policy change by President Trump
over the H1B visas. 

39
00:01:51,680 --> 00:01:54,440
These are foreign nationals that
work within the United States. 

40
00:01:54,720 --> 00:01:57,800
There are lots of arguments 
revolving around this and also 

41
00:01:57,800 --> 00:02:00,680
is a concerning topic to Big 
tech and many of the companies 

42
00:02:00,680 --> 00:02:04,000
that we invest in that employ 
many H1B visa workers. 

43
00:02:04,320 --> 00:02:06,640
We'll be taking a look at the 
stats, which of these big tech 

44
00:02:06,640 --> 00:02:09,840
companies employ the most and 
what are at the most risk with 

45
00:02:09,840 --> 00:02:12,120
this policy changing. 
We also have Meta doing a new 

46
00:02:12,120 --> 00:02:14,720
demo, showing off some 
incredible technology, but also 

47
00:02:14,720 --> 00:02:17,880
having a few blunders. 
This is a live demo and Mark 

48
00:02:17,880 --> 00:02:21,480
Zuckerberg had one part of it 
where it just didn't work. 

49
00:02:21,520 --> 00:02:24,800
The the technology didn't work 
and you get to see his reaction.

50
00:02:24,800 --> 00:02:28,360
We're going to take a look. 
And then finally, regrettably, 

51
00:02:28,600 --> 00:02:33,040
unfortunately, we have my fail 
of the week early this week. 

52
00:02:33,600 --> 00:02:37,120
And this one hits home. 
It is a day in the life of a 

53
00:02:37,120 --> 00:02:39,120
Netflix employee. 
That's right. 

54
00:02:39,120 --> 00:02:41,440
We've seen this before. 
We've seen the day in the life 

55
00:02:41,440 --> 00:02:44,240
of and we're going to be taking 
a look at this one specifically 

56
00:02:44,240 --> 00:02:46,160
with Netflix. 
So we have a ton to get to in 

57
00:02:46,160 --> 00:02:47,880
this episode. 
And we kick things off with 

58
00:02:47,960 --> 00:02:51,280
ASML, the big monopolistic EUV 
maker. 

59
00:02:51,680 --> 00:02:55,200
Now this is a company where I 
know we hear a lot of talk about

60
00:02:55,280 --> 00:02:58,120
like Google and how well Google 
has done over the past month, 

61
00:02:58,680 --> 00:03:00,360
But I just want to emphasize a 
point here. 

62
00:03:00,680 --> 00:03:04,280
ASML has outperformed Google 
over the past 30 days. 

63
00:03:04,760 --> 00:03:07,560
The rise in stock price has 
actually been pretty incredible.

64
00:03:07,840 --> 00:03:10,480
You have a company here where if
you look at the the stock price,

65
00:03:10,800 --> 00:03:15,000
it's been mostly the same 
trading around this point, 750, 

66
00:03:15,000 --> 00:03:19,320
a little below 750 for most of 
the year and then suddenly it's 

67
00:03:19,320 --> 00:03:23,400
just taken off in a 30 day 
period, it's up nearly 30%, 

68
00:03:23,680 --> 00:03:26,840
which is pretty remarkable, 
bringing the total return of the

69
00:03:26,960 --> 00:03:30,040
the past year to 37%. 
Now to show you how big this 

70
00:03:30,040 --> 00:03:32,640
company is in My Portfolio, we 
can take a look at the passive 

71
00:03:32,640 --> 00:03:35,240
income account. 
We can go into the tech category

72
00:03:35,240 --> 00:03:36,840
here. 
I'll try to zoom in so you can 

73
00:03:36,840 --> 00:03:39,320
see it a little bit better. 
And here we have all the 

74
00:03:39,320 --> 00:03:41,640
different companies. 
This is just the tech category. 

75
00:03:42,120 --> 00:03:45,840
If we look at this, ASML has now
gone from basically a flat 

76
00:03:45,840 --> 00:03:49,640
position in My Portfolio to just
in the past month or so a 

77
00:03:49,640 --> 00:03:54,240
$20,700 gain. 
So we're up a big amount in this

78
00:03:54,240 --> 00:03:56,280
stock now. 
It's now a huge winner in the 

79
00:03:56,280 --> 00:03:59,000
portfolio. 
It's now right there with Google

80
00:03:59,000 --> 00:04:02,000
in the passive income portfolio.
Now I own Google as well in the 

81
00:04:02,000 --> 00:04:03,920
story fund. 
So I have this one in both, both

82
00:04:03,920 --> 00:04:06,400
places. 
My, my overall Google games 

83
00:04:06,400 --> 00:04:09,120
around $50,000. 
But regardless, we have right 

84
00:04:09,120 --> 00:04:13,080
here, ASML is now a big winner 
right there with Microsoft, with

85
00:04:13,080 --> 00:04:17,800
Apple catching up to Google. 
It's now an $83,000 position. 

86
00:04:17,920 --> 00:04:21,000
Now I was interested in what is 
causing the stock price to go up

87
00:04:21,000 --> 00:04:24,240
so much because in most cases, 
you have some big news that 

88
00:04:24,240 --> 00:04:27,360
causes a stock to go up. 
For example, most of these type 

89
00:04:27,360 --> 00:04:31,160
of changes happen after 
earnings, but ASML is not that 

90
00:04:31,160 --> 00:04:32,840
case. 
In fact, it's most recent 

91
00:04:32,840 --> 00:04:36,120
earnings report just two months 
ago was a big disappointment. 

92
00:04:36,360 --> 00:04:39,400
They gave this big critical 
warning of tariffs on their 

93
00:04:39,400 --> 00:04:42,080
earnings report. 
The CEO of ASML said that they 

94
00:04:42,080 --> 00:04:45,440
might not grow in 2026. 
Investors are really bearish. 

95
00:04:45,720 --> 00:04:49,440
They sold the stock down 10% 
after earnings to a price of 

96
00:04:49,440 --> 00:04:52,520
$747. 
So the most recent earnings 

97
00:04:52,520 --> 00:04:55,320
report was a big disappointment.
And here we are from that 

98
00:04:55,320 --> 00:04:59,440
earnings report of $750 now to 
nearly $1000. 

99
00:04:59,680 --> 00:05:01,680
What is going on? 
Well, to get to the bottom of 

100
00:05:01,680 --> 00:05:04,560
this question of what's going on
in this case, I went through a 

101
00:05:04,560 --> 00:05:07,880
timeline of events for ASML 
after the earnings reports and 

102
00:05:07,880 --> 00:05:11,120
the disappointing comments from 
the CEOA lot has happened over 

103
00:05:11,120 --> 00:05:14,520
just the past two months. 
For example, in late August, 

104
00:05:14,880 --> 00:05:18,000
ASML had a report that it's set 
to deliver another year of solid

105
00:05:18,000 --> 00:05:20,640
growth with this extreme 
ultraviolet EUV sales 

106
00:05:20,640 --> 00:05:24,200
anticipated to increase by about
30% in 2025. 

107
00:05:24,760 --> 00:05:27,680
This optimistic expectation is 
driven by chip makers expanding 

108
00:05:27,680 --> 00:05:30,720
production for advanced logic 
and memory chips used in 

109
00:05:30,720 --> 00:05:33,320
artificial intelligence and high
performance computing. 

110
00:05:33,640 --> 00:05:36,760
We know that all the time we're 
getting announcements of new 

111
00:05:36,760 --> 00:05:40,640
computing capacity, more and 
more data centers, and ASML has 

112
00:05:40,640 --> 00:05:42,640
to make every single one of 
those high end chips. 

113
00:05:42,640 --> 00:05:44,800
Not a single one gets made 
without ASML. 

114
00:05:44,920 --> 00:05:47,720
From late August to early 
September, we have more reports 

115
00:05:47,720 --> 00:05:50,760
that are bullish for ASML. 
We have UBS upgrading the price 

116
00:05:50,760 --> 00:05:55,400
target from 660 euros to 750. 
Citing improved visibility 

117
00:05:55,400 --> 00:05:59,080
beyond 2026 and 2027 market 
concerns. 

118
00:05:59,360 --> 00:06:01,800
The firm emphasized Asml's 
potential as a quality 

119
00:06:01,800 --> 00:06:05,640
compounder, projecting 20% 
earnings per share Hager from 

120
00:06:05,640 --> 00:06:10,000
2026 to 2030. 
So they believe now UBS is 

121
00:06:10,000 --> 00:06:13,640
saying just earlier this month, 
this company is going to grow 

122
00:06:13,640 --> 00:06:17,400
earnings per share by 20% for 
the next five years. 

123
00:06:17,880 --> 00:06:22,200
This is supported by 26.4% 
revenue growth in the last 12 

124
00:06:22,200 --> 00:06:26,640
months and 52.5% gross margins. 
So we have reports late last 

125
00:06:26,640 --> 00:06:30,000
month that ASML is growing their
earnings by 30% this year. 

126
00:06:30,160 --> 00:06:33,280
We have reports early this month
that UBS and other analyst firms

127
00:06:33,280 --> 00:06:35,920
are raising their price targets,
causing the stock to go up even 

128
00:06:35,920 --> 00:06:38,320
further. 
And the good news just continues

129
00:06:38,320 --> 00:06:42,480
on September 9th, 2025, only 
days later than that UBS 

130
00:06:42,480 --> 00:06:46,160
upgrade, we have news that ASML 
Holding has announced a long 

131
00:06:46,160 --> 00:06:50,600
term partnership of €1.3 billion
with Mistral AI. 

132
00:06:50,840 --> 00:06:55,240
This is a chat TPT like company 
but in France it secured 

133
00:06:55,240 --> 00:06:59,160
approximately 11% stake and a 
seat on Mistral AI strategic 

134
00:06:59,160 --> 00:07:01,040
committee. 
Investors believe that ASML 

135
00:07:01,040 --> 00:07:03,960
making this commitment with an 
AI specific company will give 

136
00:07:03,960 --> 00:07:06,080
them a lot of synergies and be 
able to learn from them. 

137
00:07:06,320 --> 00:07:08,240
Not only do they have an 
interest in the company that 

138
00:07:08,240 --> 00:07:11,080
they can easily afford, but this
will benefit the company long 

139
00:07:11,080 --> 00:07:13,040
term. 
It raised the bullishness of 

140
00:07:13,040 --> 00:07:15,800
investors on ASML and it didn't 
stop there. 

141
00:07:15,800 --> 00:07:22,800
September 12th, 2025, ASML stock
surged 6.56% to close at $867 

142
00:07:22,800 --> 00:07:25,640
per share after receiving an 
upgrade from the sell side 

143
00:07:25,640 --> 00:07:28,600
analyst ARIT Research. 
The upgrade is driven by an 

144
00:07:28,600 --> 00:07:32,320
increased spending by the TSM 
manufacturing company and the 

145
00:07:32,320 --> 00:07:36,080
anticipated strong demand for 
Asml's EUV lithography machines 

146
00:07:36,320 --> 00:07:40,280
in 2027. 
Now that the stock was $870, 

147
00:07:40,280 --> 00:07:41,960
analysts are getting more and 
more bullish. 

148
00:07:41,960 --> 00:07:47,360
From $870, the stock price is 
raised up now to $960, up 

149
00:07:47,360 --> 00:07:50,400
another 3% today as NVIDIA 
announces $100 billion 

150
00:07:50,400 --> 00:07:53,000
investment into Open AI. 
So now we have a timeline of 

151
00:07:53,000 --> 00:07:55,680
exactly what's happened to 
'cause this stock to surge over 

152
00:07:55,680 --> 00:07:59,080
just the past two months in 
between earnings reports. 

153
00:07:59,480 --> 00:08:01,200
And the next question is even 
more difficult. 

154
00:08:01,360 --> 00:08:04,280
How do we anticipate these type 
of events in advance? 

155
00:08:04,560 --> 00:08:06,320
How do we know to buy the stock 
in advance? 

156
00:08:06,320 --> 00:08:11,400
After all, I bought $15,000 
worth of ASML stock at $750 per 

157
00:08:11,400 --> 00:08:13,600
share and two separate 
purchases. 

158
00:08:13,720 --> 00:08:17,000
Now when I look at why we can 
just look back in history, I 

159
00:08:17,000 --> 00:08:19,800
have an episode with my 
immediate reaction to ASML's 

160
00:08:19,800 --> 00:08:23,120
last earnings report where the 
stock dropped 10% after 

161
00:08:23,120 --> 00:08:24,560
earnings. 
We'll go ahead and watch just a 

162
00:08:24,560 --> 00:08:27,760
few seconds of this. 
ASML just reported earnings and 

163
00:08:27,760 --> 00:08:30,400
the stock is down 10% on the 
day. 

164
00:08:30,680 --> 00:08:35,320
It went from $800 to 743. 
And we have some of the early 

165
00:08:35,320 --> 00:08:38,440
news reports reading into this 
earnings report, one of them 

166
00:08:38,440 --> 00:08:41,960
from fast companies saying that 
ASML stock price is dropping 

167
00:08:41,960 --> 00:08:45,560
today after the semiconductor 
giant issued a critical warning 

168
00:08:45,760 --> 00:08:49,440
about 2026. 
A critical warning that sounds 

169
00:08:49,440 --> 00:08:51,440
really bad. 
What critical warning did they 

170
00:08:51,440 --> 00:08:53,440
issue? 
We have Baron saying the ASML 

171
00:08:53,440 --> 00:08:56,320
stock tumbles after growth 
warnings and earnings report 

172
00:08:56,680 --> 00:09:00,040
tariffs are biting. 
Before this drop, I was publicly

173
00:09:00,040 --> 00:09:02,160
bullish on ASML. 
I'd said it's one of my 

174
00:09:02,160 --> 00:09:05,160
investments and it's easy after 
an event like this happens, 

175
00:09:05,160 --> 00:09:07,880
become really discouraged. 
That's the challenge with 

176
00:09:07,880 --> 00:09:11,440
investing is letting big price 
changes like this change your 

177
00:09:11,440 --> 00:09:13,840
sentiment on a company. 
But we can look here further at 

178
00:09:13,840 --> 00:09:15,920
my reaction after the stock 
price dropped. 

179
00:09:16,080 --> 00:09:18,960
Start things off by talking 
about this huge drop in ASML. 

180
00:09:19,200 --> 00:09:21,800
The stock is currently down 10% 
from where it was just 

181
00:09:21,800 --> 00:09:25,240
yesterday, and that is a notable
drop for a stock that already 

182
00:09:25,240 --> 00:09:27,120
seems like it's at a decent 
valuation. 

183
00:09:27,320 --> 00:09:29,160
It's also a very high quality 
company. 

184
00:09:29,400 --> 00:09:33,520
This isn't some meme coin. 
FML is not some small cap, 

185
00:09:33,520 --> 00:09:36,480
highly speculative company. 
This is, after all, one of the 

186
00:09:36,480 --> 00:09:40,360
companies creating the backbone 
of innovation on the front of 

187
00:09:40,360 --> 00:09:44,600
creating AI chips. 
So ASML is a highly profitable, 

188
00:09:44,600 --> 00:09:46,760
dominant company with a very 
wide Moat. 

189
00:09:47,120 --> 00:09:49,680
It has technological supremacy 
over its peers. 

190
00:09:49,960 --> 00:09:53,320
And yet it's down 10% today. 
And these news headlines make it

191
00:09:53,320 --> 00:09:56,080
seem like things aren't so good,
like we have something to be 

192
00:09:56,080 --> 00:09:59,200
concerned about here. 
Now, I must start off by saying,

193
00:09:59,920 --> 00:10:03,040
even before we go into some of 
the details, that I am a proud 

194
00:10:03,040 --> 00:10:07,160
shareholder of ASML. 
That was my immediate reaction. 

195
00:10:07,800 --> 00:10:10,400
It wasn't distress or 
discouragement. 

196
00:10:11,040 --> 00:10:14,040
I talk about Asml's continuing 
to be a dominant company, that 

197
00:10:14,040 --> 00:10:17,080
the news doesn't really reflect 
my feelings on what's going on. 

198
00:10:17,200 --> 00:10:19,680
And the share price did not 
determine my sentiment on the 

199
00:10:19,680 --> 00:10:22,000
company. 
I say in this that I'm a proud 

200
00:10:22,000 --> 00:10:25,200
shareholder of ASML proudly 
owning the stock that's going 

201
00:10:25,200 --> 00:10:27,520
down 10% now. 
I also reacted to the concerns 

202
00:10:27,520 --> 00:10:30,360
that investors had at the time, 
specifically the concern of 

203
00:10:30,360 --> 00:10:32,560
tariff that the CEO of ASML 
outlined. 

204
00:10:32,800 --> 00:10:35,520
He said there's a chance to ASML
could not see any revenue growth

205
00:10:35,520 --> 00:10:37,840
next year because the outlook's 
very murky. 

206
00:10:37,840 --> 00:10:40,800
It's uncertain with all this 
tariff news and I believe 

207
00:10:41,040 --> 00:10:44,160
strongly at the time that the 
tariffs would not prevent ASML 

208
00:10:44,160 --> 00:10:47,200
from growing, that the United 
States was investing heavily in 

209
00:10:47,200 --> 00:10:49,840
these high end chips and they 
would need ASML. 

210
00:10:50,120 --> 00:10:52,960
Here's my closing remarks to my 
ASML segment. 

211
00:10:53,280 --> 00:10:55,800
When I look into what's going to
happen over the next couple of 

212
00:10:55,800 --> 00:11:00,280
years, I do not believe that the
US is going to hamper growth, 

213
00:11:00,280 --> 00:11:03,520
especially in AI with enormous 
taxes. 

214
00:11:03,800 --> 00:11:06,280
I think that this will get 
resolved a lot lower, allowing 

215
00:11:06,280 --> 00:11:08,320
companies like ASML to continue 
growing. 

216
00:11:08,320 --> 00:11:11,200
Now, the CEO of ASML is correct 
and he's being prudent in 

217
00:11:11,200 --> 00:11:13,560
looking at these headlines, 
looking at the threats being 

218
00:11:13,560 --> 00:11:17,360
given and showing how it could 
impact the company's long term 

219
00:11:17,360 --> 00:11:19,840
profits. 
But the probability of these 

220
00:11:19,840 --> 00:11:22,200
impacts actually being felt is 
really low. 

221
00:11:22,520 --> 00:11:25,800
For this reason, I believe that 
SML is still good value today. 

222
00:11:26,080 --> 00:11:27,680
I think the company is going to 
grow next year. 

223
00:11:28,040 --> 00:11:30,560
And although like the CEO, 
there's no guarantees in 

224
00:11:30,560 --> 00:11:33,720
investing, there never was. 
Selling the company based on 

225
00:11:33,720 --> 00:11:35,320
this report, I believe is a 
mistake. 

226
00:11:35,560 --> 00:11:37,000
So I'm still holding all my 
shares. 

227
00:11:37,400 --> 00:11:40,600
So after that immediate reaction
of me saying that the stock 

228
00:11:40,600 --> 00:11:43,920
doesn't deserve to be down 10%, 
that it's still a great company,

229
00:11:43,920 --> 00:11:47,040
I'm buying more of it. 
How was I able to determine or 

230
00:11:47,040 --> 00:11:50,280
how did I know that all this 
stuff would happen, that all 

231
00:11:50,280 --> 00:11:52,960
these analysts price targets, 
the RE rating of the stock, the 

232
00:11:52,960 --> 00:11:55,280
new bullishness of it? 
And how did I know the stock 

233
00:11:55,280 --> 00:11:59,640
would go up 27% in only 30 days?
Well, the truth is I didn't. 

234
00:11:59,720 --> 00:12:01,680
I didn't have a clue any of that
would happen. 

235
00:12:02,240 --> 00:12:04,840
I didn't know which analyst 
would give price target raises. 

236
00:12:04,840 --> 00:12:07,840
I didn't know there'd be such a 
re rating of it in such a time. 

237
00:12:08,280 --> 00:12:12,840
What I did know at the time was 
that ASML was a monopolistic, 

238
00:12:12,840 --> 00:12:15,360
high quality company with very 
predictable earnings for the 

239
00:12:15,360 --> 00:12:17,680
long term that was trading at a 
very low price. 

240
00:12:18,160 --> 00:12:21,520
That's basically all I knew. 
That's how investing works. 

241
00:12:22,080 --> 00:12:24,840
You don't need to know exactly 
how things will turn out. 

242
00:12:25,120 --> 00:12:27,840
You make decisions based on the 
facts that you have. 

243
00:12:27,840 --> 00:12:30,800
Currently as investors, we don't
know when a stock is going to go

244
00:12:30,800 --> 00:12:32,080
up. 
We don't know why it's going to 

245
00:12:32,080 --> 00:12:33,760
go up. 
We don't know which analysts are

246
00:12:33,760 --> 00:12:35,440
going to raise their price 
targets first. 

247
00:12:35,760 --> 00:12:38,200
We don't know which bullish 
catalyst is going to happen or 

248
00:12:38,200 --> 00:12:42,320
new headlines going to happen. 
What we do know is it over time,

249
00:12:42,320 --> 00:12:45,120
if you buy a handful of high 
quality companies and you buy 

250
00:12:45,120 --> 00:12:47,840
them at reasonable and 
undervalued prices, they will 

251
00:12:47,840 --> 00:12:50,440
eventually go up. 
It's just a matter of time, 

252
00:12:50,640 --> 00:12:52,840
exactly like what we're seeing 
with ASML. 

253
00:12:53,400 --> 00:12:56,560
In the words of Michael Bury, 
who early on in his career 

254
00:12:56,640 --> 00:12:59,920
trounced the market even before 
the Big Short, he said that 

255
00:13:00,280 --> 00:13:03,480
share outrageous value is the 
best catalyst. 

256
00:13:04,040 --> 00:13:06,360
Meaning when you're looking at a
stock and the reasons it may go 

257
00:13:06,360 --> 00:13:10,560
up, just buying a good stock 
that's undervalued is a catalyst

258
00:13:10,560 --> 00:13:13,120
enough in and of itself. 
You don't have to worry about 

259
00:13:13,120 --> 00:13:14,720
the details. 
You don't have to worry about 

260
00:13:14,720 --> 00:13:17,440
the specific nuances of what may
cause the rise. 

261
00:13:17,840 --> 00:13:21,440
Buying quality companies buying 
them at reasonable or better yet

262
00:13:21,560 --> 00:13:26,000
low prices is the goal. 
So I take no credit in 

263
00:13:26,120 --> 00:13:28,640
predicting this crazy stock rise
in ASML. 

264
00:13:28,880 --> 00:13:30,680
I literally could not have ever 
predicted that. 

265
00:13:30,920 --> 00:13:32,800
Neither do I do for any of my 
companies. 

266
00:13:32,880 --> 00:13:35,240
You don't know when it's going 
to happen, but eventually will. 

267
00:13:35,840 --> 00:13:37,920
Now that's the story of ASML. 
Let's go ahead and move on to 

268
00:13:37,920 --> 00:13:38,600
some news. 
Now. 

269
00:13:38,600 --> 00:13:40,080
First of all, we have some 
breaking news. 

270
00:13:40,080 --> 00:13:43,240
Just today, Jensen Wong from 
NVIDIA met up with Sam Altman 

271
00:13:43,240 --> 00:13:46,400
from Open AI and they discussed 
another major investment. 

272
00:13:46,400 --> 00:13:48,320
Let's go ahead and jump right 
into this one. 

273
00:13:48,360 --> 00:13:50,760
We can take a look. 
This is from the broadcast just 

274
00:13:50,760 --> 00:13:53,480
earlier today and we have Jensen
here. 

275
00:13:53,800 --> 00:13:56,840
The biggest AI infrastructure 
project in history. 

276
00:13:56,840 --> 00:13:59,800
This is the largest computing 
project in history. 

277
00:14:00,320 --> 00:14:02,440
Well, the reason for that is 
because computing demand is 

278
00:14:02,440 --> 00:14:04,280
going through the roof for open 
AI. 

279
00:14:05,000 --> 00:14:09,880
You know, ChatGPT is a the, the 
single most revolutionary AI 

280
00:14:09,880 --> 00:14:13,960
project in history. 
It's being used everywhere, 

281
00:14:13,960 --> 00:14:17,760
every industry, every country, 
every person practically that I 

282
00:14:17,760 --> 00:14:20,560
know uses ChatGPT. 
The computing demand is going 

283
00:14:20,560 --> 00:14:24,000
through the roof. 
And so this partnership is about

284
00:14:24,000 --> 00:14:29,080
building an AI infrastructure 
that enables AI to go from the 

285
00:14:29,080 --> 00:14:33,560
labs into the world. 
This is about the AI industrial 

286
00:14:33,560 --> 00:14:36,320
revolution arriving. 
It's a very big deal. 

287
00:14:37,040 --> 00:14:39,760
A lot of people when they're 
viewing this through the lens of

288
00:14:39,760 --> 00:14:43,040
a user of ChatGPT, they 
basically view this as another 

289
00:14:43,040 --> 00:14:45,160
investment in just more chat 
bots. 

290
00:14:45,600 --> 00:14:46,840
Like we don't have enough chat 
bots. 

291
00:14:46,840 --> 00:14:51,200
We have Gemini, we have ChatGPT,
we have Grok, we have so many of

292
00:14:51,200 --> 00:14:53,320
them. 
Do we need more investment in 

293
00:14:53,320 --> 00:14:55,280
chat bots? 
Probably not. 

294
00:14:55,360 --> 00:14:58,080
What Jensen is highlighting here
is that this is a lot more than 

295
00:14:58,080 --> 00:15:02,160
just chat bots. 
Where every single word, every 

296
00:15:02,160 --> 00:15:06,120
single interaction, every single
image, video that we experience 

297
00:15:06,120 --> 00:15:09,240
on, you know, and through 
computers will somehow have been

298
00:15:09,240 --> 00:15:13,000
reasoned through or referenced 
by or generated by AI. 

299
00:15:13,160 --> 00:15:14,880
It's going to be touched by AI 
somehow. 

300
00:15:15,120 --> 00:15:18,200
So all of our computing 
experiences throughout the day, 

301
00:15:18,200 --> 00:15:21,160
everywhere in every industry 
will be powered by AI. 

302
00:15:21,560 --> 00:15:24,720
This first, this is the first 10
gigawatts. 

303
00:15:25,120 --> 00:15:28,640
It's surely, it sounds like an 
enormous, an enormous 

304
00:15:28,640 --> 00:15:31,280
undertaking, but there's no 
question that AI is 

305
00:15:31,400 --> 00:15:33,000
transformational for every 
industry. 

306
00:15:33,000 --> 00:15:37,000
But the important thing is the 
AI infrastructure will be 

307
00:15:37,000 --> 00:15:40,440
everywhere and willpower 
computing experiences for 

308
00:15:40,440 --> 00:15:42,760
everyone, every day, and it's 
going to be just everywhere. 

309
00:15:42,800 --> 00:15:46,080
Jensen and Sam are both trying 
to expand people's horizons on 

310
00:15:46,240 --> 00:15:49,320
AI, to look at it more 
holistically, that this isn't 

311
00:15:49,320 --> 00:15:51,120
just chat bots. 
These are going to be agents 

312
00:15:51,120 --> 00:15:54,080
that work for you overnight. 
They're going to organize your 

313
00:15:54,080 --> 00:15:55,360
schedule, they're going to get 
things ready. 

314
00:15:55,360 --> 00:15:56,760
They're going to help you out 
with your job. 

315
00:15:56,760 --> 00:15:59,800
You're going to be more of an 
administrator role in anything 

316
00:15:59,800 --> 00:16:01,920
you that you do. 
And this isn't just digital 

317
00:16:01,920 --> 00:16:04,320
technology. 
It's going to power robots and 

318
00:16:04,320 --> 00:16:07,080
thinking and autonomous vehicles
and everything else that we use 

319
00:16:07,320 --> 00:16:09,960
on a daily basis. 
It's the infrastructure for the 

320
00:16:09,960 --> 00:16:12,600
modern world. 
Now in this deal in particular, 

321
00:16:12,600 --> 00:16:16,040
we have NVIDIA stock up 3.7% on 
the day. 

322
00:16:16,400 --> 00:16:20,680
This is again $100 billion to 
help build at least 10 gigawatts

323
00:16:20,680 --> 00:16:22,760
of NVIDIA powered AI data 
centers. 

324
00:16:22,800 --> 00:16:25,880
The first capacity target is 
coming online the second-half of

325
00:16:25,880 --> 00:16:29,960
2026, suggesting a multi year 
demand visibility for NVIDIA 

326
00:16:29,960 --> 00:16:33,560
data center GPUs and networking 
rather than immediate revenue 

327
00:16:33,640 --> 00:16:35,400
impact. 
So this isn't going to be 

328
00:16:35,400 --> 00:16:38,120
something next quarter, this is 
going to be over the next couple

329
00:16:38,120 --> 00:16:39,880
of years. 
This will help NVIDIA grow. 

330
00:16:39,920 --> 00:16:43,280
So another huge day for NVIDIA, 
further justifying the company's

331
00:16:43,280 --> 00:16:46,840
current valuation and a big day 
for any company along that 

332
00:16:46,840 --> 00:16:50,000
assembly line, including ASML. 
Now we also have big news 

333
00:16:50,000 --> 00:16:51,880
rattling a lot of the tech 
industry and a lot of the 

334
00:16:51,880 --> 00:16:55,120
employees. 
The administration proposed a 

335
00:16:55,120 --> 00:16:59,760
new policy, which is that H1B 
visa holders, at least new ones,

336
00:16:59,760 --> 00:17:02,400
will have to pay $100,000 per 
year. 

337
00:17:02,480 --> 00:17:03,920
And this has spurred a ton of 
debate. 

338
00:17:03,960 --> 00:17:08,359
A new $100,000 annual fee for 
H1B visa applicants is intended 

339
00:17:08,359 --> 00:17:11,480
to crack down on a system the 
Trump administration says has 

340
00:17:11,480 --> 00:17:14,480
been used by tech companies to 
avoid hiring American workers. 

341
00:17:14,839 --> 00:17:18,400
Currently, applicants for H1B 
visas must pay a small fee to 

342
00:17:18,400 --> 00:17:21,560
enter into a lottery system, and
the winners of that lottery pay 

343
00:17:21,560 --> 00:17:24,599
a larger fee to submit their 
full applications for vetting. 

344
00:17:24,680 --> 00:17:27,800
And that's the major contention 
from the administration, that by

345
00:17:27,800 --> 00:17:30,360
allowing foreign workers to come
in and work within the United 

346
00:17:30,360 --> 00:17:33,480
States without any fees, it 
allows big companies to pay them

347
00:17:33,480 --> 00:17:35,280
slightly less than American 
workers. 

348
00:17:35,640 --> 00:17:37,680
And then American workers miss 
out on good jobs. 

349
00:17:37,680 --> 00:17:39,400
But there's a big counter 
argument to this. 

350
00:17:39,400 --> 00:17:42,200
Many economists believe that H1B
visas are good for the overall 

351
00:17:42,200 --> 00:17:44,480
economy, and they spur more job 
growth. 

352
00:17:44,760 --> 00:17:47,040
Quote, H1B visas cause 
innovation. 

353
00:17:47,280 --> 00:17:50,200
They cause entrepreneurship. 
They cause more R&D and 

354
00:17:50,200 --> 00:17:52,360
investment. 
They cause higher productivity 

355
00:17:52,360 --> 00:17:55,680
and the whole U.S. economy which
generates job opportunities and 

356
00:17:55,680 --> 00:17:58,080
higher earnings for Native 
workers across the skill 

357
00:17:58,080 --> 00:18:00,560
spectrum. 
Strong argument that by having 

358
00:18:00,560 --> 00:18:03,400
more qualified people taking 
these jobs, they also create 

359
00:18:03,400 --> 00:18:06,280
more jobs in the future and grow
the economy overall. 

360
00:18:06,280 --> 00:18:08,320
But again, there's a lot of 
people that disagree with this 

361
00:18:08,320 --> 00:18:11,200
quote. 
The typical H1B visa employee 

362
00:18:11,200 --> 00:18:14,200
working for the typical for 
profit company that's hired them

363
00:18:14,640 --> 00:18:18,440
is doing work for whom otherwise
available workers exist. 

364
00:18:18,440 --> 00:18:21,960
So there are economists on both 
sides of this issue, some that 

365
00:18:21,960 --> 00:18:24,880
believe that it's a benefit that
grows the economy overall, and 

366
00:18:24,880 --> 00:18:27,080
there's other ones pointing out 
that many of the jobs being 

367
00:18:27,080 --> 00:18:30,600
taken by H1B visa workers are 
being taken from people that 

368
00:18:30,600 --> 00:18:33,760
could otherwise do the same job.
This has stirred a massive 

369
00:18:33,760 --> 00:18:36,520
debate online, with all sorts of
different personalities coming 

370
00:18:36,520 --> 00:18:39,680
out on different sides. 
Many of the tech leaders love 

371
00:18:39,680 --> 00:18:43,000
H1B visa because it allows for 
talent to come into the United 

372
00:18:43,000 --> 00:18:46,440
States that in many cases is far
less expensive than native born 

373
00:18:46,440 --> 00:18:48,400
American workers. 
So there's a lot of different 

374
00:18:48,400 --> 00:18:51,000
incentives at play. 
Elon Musk for example is an 

375
00:18:51,000 --> 00:18:53,720
advocate of H1B visa. 
We have people like Reed 

376
00:18:53,720 --> 00:18:56,600
Hastings, the Co founder of 
Netflix that said in a tweet, 

377
00:18:56,600 --> 00:18:59,160
I've worked on H1B politics for 
30 years. 

378
00:18:59,440 --> 00:19:02,480
Trump's 100K per year tax is a 
great solution. 

379
00:19:02,880 --> 00:19:06,760
It will mean H1B is used just 
for very high value jobs, which 

380
00:19:06,760 --> 00:19:10,080
will mean no lottery needed and 
more certainty for those jobs. 

381
00:19:10,640 --> 00:19:13,800
Now, keep in mind that Reed 
Hastings is no fan of President 

382
00:19:13,800 --> 00:19:15,880
Trump. 
He voted for Kamala Harris. 

383
00:19:15,880 --> 00:19:17,480
He raised money for Kamala 
Harris. 

384
00:19:17,520 --> 00:19:19,920
So this isn't coming from a 
position of someone that just 

385
00:19:19,920 --> 00:19:22,560
supports his politics. 
In the mix of this debate, we 

386
00:19:22,560 --> 00:19:25,600
also see a lot of news about 
which companies this affects the

387
00:19:25,600 --> 00:19:27,680
most. 
For example, Bloomberg showed 

388
00:19:27,680 --> 00:19:30,040
this chart here. 
And this is making the circles 

389
00:19:30,040 --> 00:19:31,520
on the interwebs. 
It's gone viral. 

390
00:19:31,760 --> 00:19:35,360
It shows how many big tech 
companies benefit from H1B visa 

391
00:19:35,360 --> 00:19:37,600
workers. 
We have right here at the top, 

392
00:19:37,920 --> 00:19:42,960
Amazon. 
Amazon employs over 10,000 H-1B 

393
00:19:42,960 --> 00:19:46,200
workers, 10,000. 
That's a lot of workers. 

394
00:19:46,640 --> 00:19:49,360
We have Tata Consultancy Service
Limited. 

395
00:19:49,360 --> 00:19:52,480
I actually haven't heard of that
company, but that's 5500. 

396
00:19:52,960 --> 00:19:55,080
Then we have Microsoft, that's 
5100. 

397
00:19:55,360 --> 00:19:59,120
Meta, we have over 5000. 
Apple, we have 4200. 

398
00:19:59,600 --> 00:20:02,920
Google, we have 4000, and so on 
and so forth. 

399
00:20:02,920 --> 00:20:06,120
We have Walmart, JP Morgan, and 
Deloitte making this chart. 

400
00:20:06,160 --> 00:20:08,520
But by far the biggest one right
here is Amazon. 

401
00:20:08,560 --> 00:20:11,200
That's the one that sticks out. 
Now, this chart is a bit 

402
00:20:11,200 --> 00:20:14,400
misleading, and in fact, I think
that Bloomberg did a disservice 

403
00:20:14,400 --> 00:20:15,960
by showing this particular 
chart. 

404
00:20:16,200 --> 00:20:18,040
There's a much better way to 
look at this, which is. 

405
00:20:18,520 --> 00:20:21,160
Out of the amount of employees 
that these companies employ, 

406
00:20:21,160 --> 00:20:24,240
which percentage of them are H1B
visa workers? 

407
00:20:24,240 --> 00:20:26,120
And when we look at these 
numbers in terms of total 

408
00:20:26,120 --> 00:20:28,240
percentage of the employees, 
it's far different. 

409
00:20:28,400 --> 00:20:30,560
Amazon is actually the last on 
the list. 

410
00:20:30,800 --> 00:20:34,840
It employs the least amount of 
H1B workers, 10,000 employees 

411
00:20:34,840 --> 00:20:39,280
out of 1.5 million. 
That's only .65%. 

412
00:20:39,840 --> 00:20:42,480
Now even if we adjust these 
numbers even further to make 

413
00:20:42,480 --> 00:20:45,880
them a bit more fair and let's 
say that we get rid of all the 

414
00:20:45,880 --> 00:20:49,240
delivery employees and all the 
logistics and the ones working 

415
00:20:49,240 --> 00:20:53,080
in the warehouses, Amazon is 
still at 2% of their total 

416
00:20:53,080 --> 00:20:55,920
workforce for only their in 
office employees. 

417
00:20:56,400 --> 00:21:00,760
So Amazon is actually not a big 
hire of H1B employees when you 

418
00:21:00,760 --> 00:21:03,000
look at it in total. 
Of their employee base, the one 

419
00:21:03,000 --> 00:21:05,200
that's the highest by far is 
Meta. 

420
00:21:05,760 --> 00:21:10,160
Meta has a total of 75,000 
employees, 5000 of which are H1B

421
00:21:10,160 --> 00:21:13,600
workers, which is roughly 6.7% 
of their employee base. 

422
00:21:13,760 --> 00:21:18,200
Nearly 7 out of 100 employees 
working at Meta are H1B workers,

423
00:21:18,480 --> 00:21:21,800
meaning that if there is a 
dramatic shift in policy, that 

424
00:21:21,800 --> 00:21:23,560
company will be the most 
affected by it. 

425
00:21:23,640 --> 00:21:26,360
Now, the good news for Meta is 
that this is unlikely to impact 

426
00:21:26,360 --> 00:21:29,000
these current employees. 
Ones that are already here 

427
00:21:29,040 --> 00:21:30,880
aren't impacted by this new 
rule. 

428
00:21:31,080 --> 00:21:34,640
It's only new hiring of new H1B 
visas, so this isn't 

429
00:21:34,760 --> 00:21:37,800
retroactively impacted. 
But overall, you can see here 

430
00:21:37,800 --> 00:21:40,840
which companies are at most risk
of a policy change right now. 

431
00:21:40,840 --> 00:21:43,640
The one that benefits the most 
from H1B is Meta. 

432
00:21:43,760 --> 00:21:46,200
Now, Speaking of Meta, we get 
some other news that happened 

433
00:21:46,280 --> 00:21:48,440
over the weekend. 
We have Mark Zuckerberg showing 

434
00:21:48,440 --> 00:21:50,760
off his new glasses. 
These are the glasses that 

435
00:21:50,760 --> 00:21:53,920
display things on the screen. 
They're pretty remarkable. 

436
00:21:53,920 --> 00:21:55,720
In fact, I think the technology 
is incredible. 

437
00:21:56,280 --> 00:21:59,480
But Mark Zuckerberg decided to 
do a live demonstration of this 

438
00:21:59,480 --> 00:22:02,320
and it did not go as planned. 
Let's go ahead and just look at 

439
00:22:02,320 --> 00:22:04,520
this live demo and see how 
things fall apart. 

440
00:22:05,800 --> 00:22:07,480
Pause. 
WhatsApp video call. 

441
00:22:07,880 --> 00:22:09,800
There we go. 
Uh oh. 

442
00:22:12,040 --> 00:22:14,160
Well, I, well, let's see what 
happened there. 

443
00:22:18,440 --> 00:22:20,160
That's too bad. 
I don't know what happened. 

444
00:22:22,640 --> 00:22:24,080
OK, there's the, the actual 
video call. 

445
00:22:24,080 --> 00:22:26,840
All right, I'm just going to 
pick that up with my, with my 

446
00:22:26,840 --> 00:22:34,000
neural band. 
This is, you know, it happens. 

447
00:22:37,600 --> 00:22:39,080
Yeah, let's. 
What do you think? 

448
00:22:39,120 --> 00:22:43,360
Let's just go ahead and. 
Now this this video clip 

449
00:22:43,360 --> 00:22:44,680
actually skipped over some of 
it. 

450
00:22:44,920 --> 00:22:46,360
This goes on for like a couple 
minutes. 

451
00:22:46,360 --> 00:22:50,480
He's up there just just dying on
stage as this isn't working and 

452
00:22:50,480 --> 00:22:52,440
it it's so you just fill for 
him. 

453
00:22:52,440 --> 00:22:53,920
He's trying to get this tech to 
work. 

454
00:22:54,160 --> 00:22:55,880
They've obviously tested it a 
million times. 

455
00:22:55,880 --> 00:22:58,000
They even made a lot of specific
things to make it work. 

456
00:22:58,440 --> 00:23:02,320
And as they often do, things 
went wrong in a live demo. 

457
00:23:02,360 --> 00:23:05,080
And here you see him just trying
to come to terms with that tap 

458
00:23:05,840 --> 00:23:16,600
video call. 
All right, try it again. 

459
00:23:16,600 --> 00:23:23,200
I keep on messing this up. 
And if not, then we'll go for 

460
00:23:23,200 --> 00:23:30,040
the less fun option. 
OK, I don't know what to tell 

461
00:23:30,040 --> 00:23:30,880
you guys. 
All right. 

462
00:23:32,040 --> 00:23:34,080
He doesn't know what to tell you
guys, he just moves on to the 

463
00:23:34,080 --> 00:23:36,360
next thing. 
Now later on, Meta released a 

464
00:23:36,360 --> 00:23:39,880
report of exactly what happened 
and the specific things that 

465
00:23:39,880 --> 00:23:43,360
they did to ensure that this 
wouldn't happen are specifically

466
00:23:43,360 --> 00:23:46,800
what caused this to happen. 
They basically had a unique 

467
00:23:46,800 --> 00:23:49,640
wireless endpoint just for his 
headset and then a bunch of 

468
00:23:49,640 --> 00:23:52,440
other wireless headsets hooked 
up to it causing his to be 

469
00:23:52,440 --> 00:23:54,360
blocked out. 
It was one of those unfortunate 

470
00:23:54,360 --> 00:23:57,600
events on a live stage, but it's
not a big deal Many companies 

471
00:23:57,600 --> 00:24:00,040
like this that have these live 
demos fail end up doing 

472
00:24:00,040 --> 00:24:01,960
incredibly well with that same 
product. 

473
00:24:02,160 --> 00:24:04,400
Now moving on. 
Regrettably, we get to the fail 

474
00:24:04,400 --> 00:24:08,080
of the week already on a Monday.
It came early this day because 

475
00:24:08,520 --> 00:24:11,520
it's another one of those in the
life of videos. 

476
00:24:11,680 --> 00:24:13,720
You know, the ones where they 
post about all the work they 

477
00:24:13,720 --> 00:24:16,680
didn't do and how fun it is 
working at their company, the 

478
00:24:16,680 --> 00:24:19,800
one that makes it look like 
they're a a daycare for adults. 

479
00:24:20,160 --> 00:24:22,920
Well, that's the case here. 
And unfortunately for this one, 

480
00:24:22,920 --> 00:24:25,760
it's of a company that's one of 
my favorite investments, 

481
00:24:26,200 --> 00:24:28,000
Netflix. 
Let's go ahead and take a look 

482
00:24:28,320 --> 00:24:30,280
at the new day in the life of 
video. 

483
00:24:31,680 --> 00:24:34,760
We start things off here and of 
course it's in the the vertical 

484
00:24:34,920 --> 00:24:38,880
TikTok aspect ratio. 
We have here come to the office 

485
00:24:38,880 --> 00:24:46,280
with me and it's Netflix pull up
at 9:45. 

486
00:24:46,760 --> 00:24:49,320
We're starting the day late like
we're getting in the office at 

487
00:24:49,320 --> 00:24:51,880
10 AM. 
What what has gone on? 

488
00:24:51,880 --> 00:24:53,280
When are you waking up in the 
morning? 

489
00:24:53,280 --> 00:24:57,120
If you're getting into work at 
10 AM, bad traffic, maybe you 

490
00:24:57,120 --> 00:24:59,360
travelled a lot. 
I mean, what's going on to start

491
00:24:59,360 --> 00:25:12,320
work near 10? 
OK, so she's starting work at 

492
00:25:12,320 --> 00:25:16,040
10:00, not because she had to 
eat breakfast at her home and 

493
00:25:16,040 --> 00:25:19,760
then come to work, but she she's
starting to get breakfast while 

494
00:25:19,760 --> 00:25:22,040
arriving at 9:50. 
We're already off to a a 

495
00:25:22,040 --> 00:25:24,560
terrible start. 
This is already gone terribly 

496
00:25:24,760 --> 00:25:26,640
and we're not even like a a 
minute into this. 

497
00:25:33,840 --> 00:25:37,320
We're getting through breakfast 
and then we have work 10:50 AM. 

498
00:25:37,960 --> 00:25:40,240
There's no way that breakfast 
took an hour. 

499
00:25:40,360 --> 00:25:43,520
I I don't believe that who eats 
breakfast for a full hour after 

500
00:25:43,520 --> 00:25:46,800
arriving at 10 that yeah, OK, 
there we go. 10:30 and she's in 

501
00:25:46,800 --> 00:25:49,480
meeting. 
OK, so we, we've skipped through

502
00:25:49,480 --> 00:25:54,240
the meetings and the work from 
about 10:00 to now 1232 1/2 

503
00:25:54,240 --> 00:25:55,480
hours of work done halfway 
through the day. 

504
00:25:55,480 --> 00:25:56,800
Let's go ahead and take a look 
at lunch. 

505
00:26:12,520 --> 00:26:15,240
I think it's because you won't 
apologize. 

506
00:26:15,520 --> 00:26:17,440
She's discussing recent news at 
105. 

507
00:26:17,520 --> 00:26:19,000
They're like a stalemate. 
Yeah. 

508
00:26:19,720 --> 00:26:24,040
I like. 
Mixes drink lemon dessert. 

509
00:26:24,520 --> 00:26:26,280
And by the way, they do have a 
cool office. 

510
00:26:26,280 --> 00:26:29,680
If this is just a show off the 
office, Netflix has an awesome 

511
00:26:29,680 --> 00:26:32,640
office place, really high end. 
It looks like a great place to 

512
00:26:32,640 --> 00:26:34,080
work. 
They have lots of theme stuff 

513
00:26:34,080 --> 00:26:37,720
like they have AK pop, Demon 
Hunter, K Care, pretty cool 

514
00:26:37,720 --> 00:26:45,840
stuff. 
Now it's 110 and we're back to 

515
00:26:45,840 --> 00:26:47,360
work. 
Let's go ahead and see how long 

516
00:26:47,360 --> 00:26:51,840
the work is. 
I know it's like humid. 

517
00:26:58,600 --> 00:27:01,520
Outside, OK, so an hour and 45 
minutes or an hour and 35 

518
00:27:01,520 --> 00:27:06,920
minutes rather amount of work. 
So after lunch she worked for an

519
00:27:06,920 --> 00:27:10,400
hour and a half and then decided
it's time to get ready to go 

520
00:27:10,400 --> 00:27:22,320
home. 
More snacks, more treats, and 

521
00:27:22,320 --> 00:27:26,320
then driving her Mercedes home. 
OK, there's so many problems 

522
00:27:26,320 --> 00:27:28,560
with these type of videos and I 
can't stress this enough. 

523
00:27:28,560 --> 00:27:30,800
If anybody's working at one of 
these big tech companies, which 

524
00:27:30,800 --> 00:27:33,680
I know we have lots of viewers 
working at them, what you 

525
00:27:33,680 --> 00:27:37,800
shouldn't do is post a video of 
you arriving at 10 AM and then 

526
00:27:37,800 --> 00:27:42,080
leaving before three with breaks
all throughout and lunch breaks 

527
00:27:42,080 --> 00:27:44,720
and how obsessed you are with 
grabbing all the snacks and food

528
00:27:44,720 --> 00:27:47,400
in between. 
That's not the right approach 

529
00:27:47,400 --> 00:27:49,400
here. 
It makes you look terrible. 

530
00:27:49,400 --> 00:27:53,040
It makes the company look 
terrible and I know that there's

531
00:27:53,040 --> 00:27:55,200
work being done. 
She was in meetings. 

532
00:27:55,520 --> 00:27:58,240
She could not even without 
explaining the secrets of her 

533
00:27:58,240 --> 00:28:00,760
job or revealing any work 
secrets, she could have 

534
00:28:00,760 --> 00:28:03,600
explained what she does, how 
it's helping the company, what 

535
00:28:03,600 --> 00:28:07,560
type of problems she's solving, 
Explain kind of overall what her

536
00:28:07,560 --> 00:28:09,920
work includes and how it's of 
value to the company. 

537
00:28:10,200 --> 00:28:13,360
That could be part of the day in
the life of of these of these 

538
00:28:13,440 --> 00:28:16,840
videos, but we don't get that. 
What we get is a focus on lunch 

539
00:28:16,840 --> 00:28:19,760
breaks, food, the office 
theming, and very little work 

540
00:28:19,760 --> 00:28:22,360
being done and it just looks 
awful. 

541
00:28:22,440 --> 00:28:24,880
Now, if you're an employee at 
some company that you don't work

542
00:28:24,880 --> 00:28:27,000
that hard and you're just trying
to get through the day while 

543
00:28:27,000 --> 00:28:30,240
doing minimal amounts of work, 
in most cases, you're trying to 

544
00:28:30,240 --> 00:28:31,960
hide that. 
You're trying to be minimal, 

545
00:28:31,960 --> 00:28:33,800
you're trying to be hidden and 
unnoticed. 

546
00:28:33,920 --> 00:28:37,080
You're just trying to get your 
paycheck, do just enough and get

547
00:28:37,080 --> 00:28:39,360
through the day. 
And while I don't advocate for 

548
00:28:39,360 --> 00:28:42,440
that, I think it sounds at least
rational that you don't want to 

549
00:28:42,440 --> 00:28:44,760
be noticed in doing the minimal 
amount of work. 

550
00:28:45,240 --> 00:28:47,800
The weird phenomenon going on 
right now is that the people 

551
00:28:47,800 --> 00:28:50,960
doing the minimal amount of work
are also the ones broadcasting 

552
00:28:50,960 --> 00:28:53,200
it to the world. 
They're showing the whole world 

553
00:28:53,200 --> 00:28:56,600
how little work they're doing 
and that I can't make sense of. 

554
00:28:56,960 --> 00:28:59,880
Why are they broadcasting that? 
They're doing only a few hours 

555
00:28:59,880 --> 00:29:02,360
of work during the day? 
They spend most of the time 

556
00:29:02,440 --> 00:29:05,040
leisurely strolling around the 
office collecting food. 

557
00:29:05,600 --> 00:29:08,040
What is the purpose of that? 
And we've seen it again and 

558
00:29:08,040 --> 00:29:10,440
again and again. 
This isn't the only example. 

559
00:29:10,440 --> 00:29:13,240
If you're doing the minimal 
amount of work, then don't 

560
00:29:13,240 --> 00:29:15,280
broadcast it. 
If you're doing a lot of work, 

561
00:29:15,280 --> 00:29:16,880
then make a day in the life of 
video. 

562
00:29:16,880 --> 00:29:18,800
But what we're seeing is the 
exact opposite. 

563
00:29:18,960 --> 00:29:21,200
Seemingly the people doing the 
least amount of work are the 

564
00:29:21,200 --> 00:29:23,920
ones that are also the most 
willing to broadcast the day in 

565
00:29:23,920 --> 00:29:27,360
the life of videos showing off 
to the world how much work they 

566
00:29:27,360 --> 00:29:30,240
don't do. 
And also, I believe damages the 

567
00:29:30,240 --> 00:29:33,400
reputation and the culture of 
these companies broadcasting to 

568
00:29:33,400 --> 00:29:35,920
the world that Netflix is a 
place of leisure and comfort, 

569
00:29:36,160 --> 00:29:38,440
not a place of discipline and 
high amounts of work. 

570
00:29:38,880 --> 00:29:42,520
Netflix has always advertised 
its culture as being a list 

571
00:29:42,520 --> 00:29:45,960
players, ones that are the best 
of the best, the highest paid 

572
00:29:45,960 --> 00:29:49,080
above market. 
And now it seems like that isn't

573
00:29:49,080 --> 00:29:50,640
the case. 
And that is why this is the fail

574
00:29:50,640 --> 00:29:52,200
of the week. 
That's all for this time. 

575
00:29:52,320 --> 00:29:53,080
See you in the next one.