Episode 21 · Saturday, 15 March 2008

Sooty Emissions

A deep dive into the political takedown of Eliot Spitzer, the collapse of auction rate securities, and the corporate propaganda of the global oil industry.

By The No Agenda Show | 1h 9m listen | 16 chapters
Sooty Emissions cover
The No Agenda Show · No. 21

About this episode

Adam Curry and John C. Dvorak analyze the fallout of New York Governor Eliot Spitzer's resignation following a prostitution scandal, suggesting the downfall was orchestrated by Wall Street enemies. As Attorney General, Spitzer aggressively targeted the New York Stock Exchange and major insurance firms, creating a motive for political retaliation. The hosts contrast this public scandal with the systemic failures of the auction rate securities market and the Federal Reserve's $200 billion intervention.

Financial instability looms as Silicon Valley startups face a liquidity crisis after being directed into failing auction rate securities by venture-backed advisors. John C. Dvorak compares the current banking culture to the 2001 California energy crisis, characterizing those rolling blackouts as a manufactured scam by Enron. Meanwhile, tech giants like Google and Yahoo are reportedly fleeing the United Kingdom for Switzerland to avoid new tax regulations on non-domiciled residents. In the consumer market, European users are exploiting the weak dollar by purchasing iPhones in the United States and unlocking them for use on local networks in the Netherlands and beyond.

John C. Dvorak reveals his inclusion on a Microsoft internal blacklist discovered during the Combs v. Microsoft litigation, a status he earned by exposing Bill Gates' private journalist retreats. The hosts also critique Sarah Lacy's controversial South by Southwest interview with Mark Zuckerberg and the sentimental rebranding of the Skype website under eBay's creative direction. Adam Curry and John C. Dvorak conclude with a look at Shell Oil's Gas-to-Liquid propaganda and the industrial necessity of gold as prices surpass $1,000 an ounce.


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CHAPTER 01 / 16 Discussion

Adam Curry and John C. Dvorak, Computer Failures and Weather

Adam Curry and John C. Dvorak open the program from Surrey, UK, and Northern California respectively. Dvorak describes a catastrophic hard drive failure on his primary computer and his subsequent struggle to find Windows Vista installation disks. The hosts compare the reliability of Windows XP and Mac systems following Dvorak's recent rant on the Tech 5 podcast.

adam curry· john c. dvorak· surrey· northern california· windows vista· computer crash· tech 5

00:01 And it's time once again for the program that comes to you once a week and you can't wait for it because you know it contains no commercials, no jingles, no music, no talent and certainly no agenda. Coming to you from the affluent suburb of Surrey known as Guildford in the United Kingdom in the Curry Manor, I'm Adam Curry. And up here, I'm up here in Northern California and actually it's turned into a sunny day again. It's supposed to rain. I'm John C. Dvorak. Hey John, how you doing? It's raining here in the UK of course. Mm-hmm. Good. Yeah, we've had... Let me see, it'll be... If it continues to rain through tomorrow, it'll be a solid week of rain. It's been really, really... Yeah, it's been bad. It's been just crap. It's good weather for ducks. I used to say that when I was a kid. Oh, really?

00:50 Yeah, I understand what the point of it was. You know, I, um, you have, I think you've pretty much since yesterday or the day before yesterday, you've been in a very foul mood and I understand why. And why is that? Because your computer blew up on you. Yes, I know. And of course I've had nothing but suggestions, none of which work. And you know, I know what it does. I think the hard disk just blew up and you know, but That means now, here's what's weird. When Vista first came out, I got ahold of Microsoft. I said, I need a couple copies of Vista because I want to test it. And so they sent me like two copies of the Ultra. And then I put them in a drawer or somewhere, and that was almost a year ago, so now I can't find them. And now you need it desperately, right, to reinstall?

01:43 Well, no not to reinstall to install for I figure I should put a vista installation on top of the old one that way and get a feeling for what people are complaining about and Oh, you're not running this thing. What are you running XP? Oh, okay? I'm sorry. I thought you were running Vista No, no, but I'm gonna be running Vista, but now I can't find the disks. So if it's not one thing, it's another. It's not, you know. Yeah, but I was listening to, you were ranting on Tech 5. I think Tech 5, actually three minutes of Tech 5 was about your computer problems. And I was just listening to it, I'm like, yeah man, I remember that. I remember that before I went back to the Mac. I've never had any of that problem with a Mac, ever. It's, it's,

CHAPTER 03 / 16 Discussion

Shell Oil Propaganda, GTL Fuel and Interactive Satellite Channels

John C. Dvorak discovers a short film titled "Clearing the Air" produced by Shell Oil on an experimental Dish Network channel. The film promotes Gas-to-Liquid (GTL) technology as a way to reduce soot and emissions, though the hosts criticize the narrative's technical inconsistencies regarding diesel versus gasoline. The project is identified as a form of corporate propaganda being distributed via satellite and TiVo video-on-demand.

shell oil· dish network· gas to liquid· qatar· propaganda· clearing the air· delft· emissions

07:01 GW has sunk the economy. Yeah, I remember when when a dollar was five guilders so five guilders would be two point like two and a half euros today. Isn't that amazing? What a reversal. So I'm fooling around on the Dish network. I'm going through all the different channels. And there's a channel that cropped up. In fact, if people have the Dish network, I think there's the same thing with all these satellite systems. Sometimes you have to scan through it and you find sample channels and experimental channels. I found something buried. And they're always buried. Like in the 900s and the high numbers?

07:47 Yeah, high numbers in this case nine thousand six hundred and forty five Okay, what are you doing up there John isn't that where all the porn is as well. You're sampling something else I don't subscribe to the porn. I think it was in the hockey or something, but anyway, if anyone's got the Dish Network, you can go to channel 9645, and the channel is called LF1. And I have no idea what that means. But what it is, what they're showing is a nonstop, it's about a six, I didn't time it and I should have, but it's less than 10 minutes long, but it feels like about six or seven minutes.

08:25 a short movie that they keep looping over and over and over again, which actually has interactive features, which I thought was interesting. You can click on something and you can interact with it. On your remote, you mean? You can press a colored button? There's a, you put, actually you press the enter button even though it's kind of vague which button to press. And it puts you, it loads an application that allows you to order a CD and do some other things. If you want a copy of the CD, and I think you can just get a copy of the CD at the website. But it's a movie by Shell Oil.

09:01 And what the hell's the name of it? I don't got the name, so it's got some stupid name. Is it a movie or is it like a long form commercial? It's not a commercial, it's an actual movie, it's a drama. It's a drama, it starts in 1986, it starts in a board meeting. And then these guys sit around and say, well I know we can do better. We don't need, and this guy says, well we can do, we've got this new idea. We gotta get the soot down. It's about soot. And there's a bunch of holes in this story. But anyway, so they have this meeting and the next thing you know, in this semi-romance, there's a guy and a girl at the beginning and they walk off and the guy says, I think we can improve our product. And the girl says, I think we need more public pressure. And so she goes and becomes a public person. She actually disappears from the story until the very end. And then he goes up and says, I think we can work within the system.

09:54 This thing moves really fast by the way, because it's only five minutes. So anyway, so then the guy moves along somehow and somebody invented something, there's this invention and they're making it in Malaysia called GTL. Yeah, what's that? Gas to liquid? Yeah, gas to liquid. Yeah, apparently Shell came up with a process to turn natural gas, which is a commodity that should be used for its As natural gas, it seems to me, I don't think they should process it to make gasoline. Well, no, there's all kinds of advantages. I've actually talked... A buddy of mine knows about this. It's propaganda. Yeah, my buddy is full of propaganda towards me.

10:40 Hey, you know I'm telling you it's just it's GT. I did there could be advantages, but it's pointless You know if you just do better refining of their other fuels you'll get the same product There's a thread here remember I used to work at Union oil. Yeah, no effect. Yes. There's a thread here I found new channel nine six four five LF one apparently the same the same movie is showing up on TiVo as well in some video on demand So the thinking here is that Shell has bought space and is spamming. Yeah, but who's going to see this thing? I mean, it was a fluke that I even found. Of course, now everyone who watches or listens to us might check it out. But you just laugh at it.

11:20 Anyway, so GTL, blah, blah, blah. So anyway, so they released the G, the guys get, so here's the story. The story moves on real quick. Next thing you know, we're in the future. That says something like 15 years later. And the guy says, the guy's giving a lecture, the guy who's working within the system. He says, we've got this new fuel and it produces less soot. And, and, and, and, and, And there's a voice in the background that says, when will this product actually be manufactured? And the guy says, turn on the lights, I wanna see who this is. And meanwhile I'm thinking, what is this, the guy's a KGB? So they turn on the lights, it's the girl. And so the guy says, oh, it's the girl. Now they're friends again, he wants to take her out to dinner. So he asks her out for dinner and everyone chuckles in the audience. And then so next thing you know, he sees her at dinner.

12:02 And then before they can even eat, she's all, the babysitter called, I gotta go. Boom. The guy goes limp because the baby says she's married. So all those years have passed and they've gone in different directions and now she's gone one way and he's gone the other, but Shell and all the scientists at Shell. But they've saved the world. They've saved the world. But meanwhile, so here's the big hole is this. At the beginning, they say it's a synthetic alternative to diesel. And then in the later part of the story, I swear to God, there's no way they're using this in diesel engines because they test, where they're testing it in everything, especially in Los Angeles, they kind of indicate that it's being used in cars as gasoline as opposed to diesel. So there's like, that's kind of confusing. And then there's a thing, apparently this is the factory that was making it blew up or something. I guess that's a true story.

13:00 And it says, and then there's a thing that flashes on the screen that says the following. And tell me what is wrong with this, what stands out in this statement that, what stands out like a sore thumb? And here's what it said, I wrote it down. Following the new restart, and that's referring to the refinery, the new Bintulin GTL fuel, was trialed in LA, Shanghai, Delft, Berlin, and London. Delft? Yeah, Delft.

13:39 Wait, let me get to go. I can answer that one. John. I can answer that Shanghai Berlin London and Delft. Let me explain Delft is home to the a very famous technical University the TU and Delft and Shell is a big spender on the University all their research projects are done there Delft is quite famous for for its research Fine and for it's a Dutch Delft Dutch blue of course I believe that there's some executive in Delft, and he was getting free gas The movies on YouTube by the way It's called clearing the air right that's the name of it so anyway. You can also get a DVD with it on there I

14:28 And it says based on real events. This cracks me up. So the anyway, the end it says city emissions and there's another quote on the screen. City emissions from cars fell by 40% or it says by up to 40%. And then there's like a little disclaimer like it was a drug commercial at the very bottom. And it says, it's actually, if you have an erection for over four hours, please contact your doctor immediately. Actually, what it says was it's only between 20 and 40 percent. But they say for joke of it it still says 20 to 40. But the joke of it is you can't read this disclaimer. I mean I had to I had to do actually do some video manipulation to get to the thing so it was readable and That's what I said. Well, that's like All the disclaimers on the car commercials, you know You get that final screen and get the end the screen is filled with letters that you can't read there's no time to read it

15:26 So they're building a new GTL plant in Qatar, they mentioned that. And I don't know, I just thought the whole thing, but you know, but it was what was interesting, it was a fast moving story, even though it was filled with this weird hole about the diesel versus gasoline. And it was a dumb, dumb story, but it was well produced in terms of a five minute movie. And I think it's a model, it's a model of short dramas to be used as propaganda. People should check it out for that purpose. Advertising, advertising, propaganda, advertising, maybe the same thing. I'm going to take a look at it. Maybe we can acquire it, get the rights to it and sell commercials against it. Yeah.

CHAPTER 04 / 16 Discussion

Skype Website Redesign, eBay Creative Direction

While attempting to fix audio drivers on a laptop, Dvorak critiques the new visual direction of the Skype website following its acquisition by eBay. He expresses frustration with the use of sentimental stock photography, such as a grandfather bottle-feeding a baby, which he finds irrelevant to the software's utility.

skype· ebay· website design· marketing· branding· user interface

16:10 Crazier things have happened man. You never know And talking about corny like the Delft thing so I had to load Skype I'm using the laptop because you know as you know my machine is down and I had to Load Skype I had to get a driver for the fast track God it took like half an hour just to for you to be able to hear me Yeah, and then when I did hear you there doesn't seem to be any explanation as to what changed it fixed itself. I Yeah, that happens. I was waiting for this computer to do that diet. I keep rebooting it saying, come on, you can fix yourself. You've done it before. Good luck. So anyway, so I go to the Skype page and now, I guess eBay took it. So they got this corny piece. People should just go to the Skype, you know, download, Skype.org download page or their first page. There's this corny picture of a granddad bottle feeding a little baby in a bottle.

17:05 And some girl, I guess his daughter, was standing over there. It's the eBay creative team, man. They're the ones that are doing that stupid shit. It's like the corny piece of crap. What's it got to do with anything? What does it have to do with anything? They're trying to show happiness and a dream of togetherness and connectivity, John. Don't you understand that? Well, they're doing a crappy job because I found the picture to be highly offensive. It is offensive. It's insulting is what it is Like why do I have to look at that? That makes no sense? Do you remember I told you about the? Switching gears here the auction rate securities market when we were talking about that about those options that were failing so I pick up an article on TechCrunch and

CHAPTER 05 / 16 Discussion

Auction Rate Securities Market, Silicon Valley Venture Capital Risks

Financial advisors in Silicon Valley reportedly directed 20% of venture-backed startups to invest spare cash in the auction rate securities market, which is now experiencing widespread failures. The hosts discuss the lack of liquidity for these companies and criticize the Federal Reserve's $200 billion intervention as a de facto tax on citizens through currency devaluation.

auction rate securities· venture capital· silicon valley· techcrunch· liquidity· federal reserve· ben bernanke

17:56 And apparently 20% of venture-backed startups have been advised by financial advisors in the Valley to put it, you know, and if they have any spare cash that they raised, which a lot of companies will do, you know, you raise money and then all of a sudden there's millions of dollars in your bank account. You know, you don't put it in the checking account. You put it where you can get some interest off of it. And so 20% of the companies in Silicon Valley have put money into the auction rate securities And you know you can you know they have seven day They have auctions every seven days 28 days or 35 days and Now they can't you know the auctions are failing so now they can't access their money

18:41 How crazy is that? Isn't that awesome? Well, see this is something this is good that you knew this in advance. You wouldn't be suckered into that. No, no I would have said uh-uh bad idea and oh by the way Bear Stearns, holy crap This thing's coming apart at the seams man. The money these guys can only Sorry, these guys can only scam the world for so long with this, you know, yeah craziness The gig is up. But what's so funny is, you know, it's still being called the subprime crisis, you know horseshit, you know, this is This is so much more It's gonna be it's half a trillion dollars

19:23 And now apparently the government, Bernanke and his boys are bailing out a lot of these guys. Yeah, they're just printing fucking money. I mean, it's not a coincidence that they literally print 200 billion dollars. Yeah, they say it comes from some kind of reserve, but that's not transparent and no one can check on them to see if it's true or not. And then the dollar, of course, devalues another notch. I mean, duh. 200 billion in the marketplace. It's like issuing more stock. Yeah, exactly. It's like issuing more stock than a company. Everyone gets diluted. If everybody looked at the dollar as a share of stock...

19:59 There's so much of it out there and if they add more to it, the money's worth less. Yeah, they just print more and then automatically all the markets just... It's a computer process. It's like everyone understands how that works in the financial world. Who's getting screwed? Why? Because these... And what I do like, by the way, is it's not like they're giving the banks money. They are printing the money, which that's where the devaluation comes from. But they're lending it to the banks for like, you know, 28 days or something like that. And other banks still won't do business with them even though they have the money for 28 days. So it's not like the, you know, they're not like giving it to the banks, but damn, look at what they're doing to our dollar, which is in essence a hidden tax, I guess. You know, if your money devalues, and the government does it, isn't that just another form of tax? Taking money out of our pockets and giving it to banks to use? That's actually a really good point.

CHAPTER 06 / 16 Discussion

Banking Industry Culture, Enron and California Energy Crisis

The discussion shifts to the perceived lack of ethics and intelligence among high-level bankers and traders involved in structured deals and derivatives. Dvorak compares the current financial instability to the 2001 California energy crisis, characterizing the rolling blackouts as a manufactured scam by Enron that was ignored by Governor Gray Davis and the media.

bankers trust· derivatives· enron· gray davis· rolling blackouts· energy market· deregulation

20:55 Yeah, that's exactly what that's an interesting point because you know the Bush's you know have this thing about no taxes and or lower taxes to And then meanwhile you get having this happen. I mean if you've have to pay twice as much for something That's a 50% tax. Yeah, and I wish could take credit for that That's actually a Ron Paul line, but you know it's true. It's a tax pisses me off So did my favorite thing though is that a lot of these executives are these big companies that are being folded left or right? Or giving themselves big bonuses Well, it's a great business, that's what it is. I've done such a wonderful job, I could give myself a hundred million dollar bonus for ruining the company. Let me just go out on a limb for a second. You know, come on, you've met bankers. Oh, I know where you're going to go with this. I don't think you do. Yeah, go on. Okay. I lived and worked in New York. Bankers Trust was one of our big clients back in the day of Think New Ideas.

21:56 And, you know, those are my clients and so you take them out. And bankers, particularly those that are in this business trading, the ones who make all the money, all these big bonuses because they're putting together these structured deals, they're managing credit and risk and using derivatives and they're just, you know, it's basically all electronic money and it clears somewhere in the background, you know, after these guys have gotten their check, you know, months later is when all the the clearances are done and all the money is actually paid if ever. But these, they're like horse traders, you know? It's a certain type of guy who does this. And first I'll say they're not, in my humble opinion, not super intelligent. You know, they're sexist usually. You know, it's the guys you see at strip clubs. That's who's doing this. I mean, come on, can't you see that this is a big scam?

22:56 Yeah, you know I mean, I mean, you know these yeah, it's those guys, you know, he's like, you know, there's like sweaty Kind of a little bit overweight coked out guys. That's who's doing this shit And you know, they're they're buying huge mansions. They're buying sports cars. They're buying women Who knows what else they were buying? And if you've ever seen the movie The Smartest Guys in the Room, which is the documentary about Enron, and you hear them when they were controlling the energy and creating rolling blackouts throughout California for their own benefit and profit, you can hear it's these kinds of guys.

23:35 You know, I knew that when those rolling blackouts were going on, you know, I immediately, again, worked in the oil industry. I mean, it looked like a scam to me from the get-go. And I just knew it was a phony bunch of blackout. These things were like fake because, and then, oh, we have to conserve more, don't use your air conditioning, all this other crap. and I'm watching these things happen week after week after week. Luckily, I was on a grid that's part of the police department's grid, so I didn't have to deal with it. But every time it happened, it was like, this was the phoniest thing I've ever seen, and I didn't see, like, that idiot Governor Gray Davis didn't say anything about it. He was so naive, he didn't know it was a bunch of bull. But what really got me is that the science and media reporters and all the people that worked at the newspapers, nobody,

24:25 thought anything, instead of saying this is bull, they all said, oh, we have to conserve more, we have to conserve more. Oh, of course. They didn't do any actual research into it. It's unbelievable. They don't know what the hell they're writing about. Just writing. Just writing. That was the most, that was it for me when I, during that rolling blackout period, the fact that nobody could see that it was obviously a scam. Yeah. I mean, I could see it. It was an obvious scam to me. And I don't think it's because I worked in an oil company, but it's just, it was just so artificial. It just happened out of the blue, after privatization, which seemed like a bad idea to begin with. Yeah, exactly. Oh man. Well, you know, you take it right from there over to Spitzer. Gosh, that's been a fascinating story.

CHAPTER 07 / 16 Discussion

Eliot Spitzer Prostitution Scandal, Wall Street Antagonism

New York Governor Eliot Spitzer's resignation following his involvement in a prostitution ring is analyzed as a potential setup by political and financial enemies. As Attorney General, Spitzer aggressively pursued cases against investment banks, the New York Stock Exchange, and insurance companies. The hosts discuss the public's fascination with the downfall of "do-gooder" authority figures.

eliot spitzer· attorney general· prostitution· payola· securities fraud· white-collar crime· new york

25:14 Well, you know there's a new twist on the Spitzer story. Let me just, let's just recap this for I'm sure many, although the story actually is spreading to, you know, spreading internationally because essentially I think everyone gets the basic idea this is the governor, wasn't he also attorney general before he was governor? Not Attorney General. He was some law guy. Yeah, some law guy. He's got a good name too for a law guy, you know, Spitzer. We should look it up. So anyway, he was responsible for stopping payola in the music business, which of course pissed off a lot of people, particularly in New York. He's busted up all kinds of, you know, I think organized crime as well.

26:02 You know, real cartel type stuff. And he's this hard nose, you know, I'm gonna kick everyone's ass into shape and then he gets caught in a prostitution ring where they bust this prostitution ring and he was client number nine. And then I love it when these guys get busted for that. He was a New York State, I'm sorry, he was a New York State Attorney General. Right, Attorney General, exactly. And then he does this big thing like, I'm sorry I let my family down. And why do their wives stand next to these guys clutching their pearls every single time that happens? My wife would be like standing next to me with a knife on my dick. She would not be clutching her pearls, I'm telling you. I thought she did. Doesn't she do that anyway?

26:47 Only because I like it. But you know, what's up with that? What kind of deal do you have to make for your wife to, you know, it's like, how do you get away with that? Well, there's a thing I'm going to link to this on the blog, Dvorak.org slash blog, but you may have to look it up because it'll scroll off by the time anyone hears this show. uh... but there's a reporter that that linked to spitzer's uh... to like this it does a belief among some reporters that because spitzer went so hard and heavy against the bankers specifically over these use a real laws uh... because they were being a during this period of all this uh... you know these balloon payments all the rest of this actually you know we used to have laws in this country that prevented people from being

27:33 loan sharks, essentially, officially. I mean, if you wanted to go to a loan shark, you had to go to a mob. Now you can just go to the corner. The money store. The money store. And so there's some thinking then, it's documented a little bit, that he was actually set up on this. Oh, I'm sure he was. There's no doubt it was a setup. It was perfect. Obviously, he wouldn't have been set up if he hadn't had these predilections, if you know what I mean. Of course. So, I mean, if you're a whoring type of guy, you can easily be set up. If he would just played it a little closer to the vest, it wouldn't have been something that he would have got caught. But then somehow they suckered him into doing money transfers in his own name or something.

28:18 And the thing is, it's just one of these... and of course this is what... the human nature loves this, you know, when there's someone who's holier than thou, when someone in authority, someone who clearly stands above the rest for whatever reason, we love it! We fucking love it when they topple down, you know, and that's actually the story that I'm reading over here and even further east. is not about the background. No one gives a shit about what he did. All they care about is, hey, here's a guy who had a big attitude about putting everybody else in their place and... That's what it is. That's the news. Film at 11. Right, but let me read you this little entry from Wikipedia that somebody dropped in here.

29:01 As Attorney General, Spitzer took cases relating to corporate white-collar crime, securities fraud, Internet fraud, and environmental protection. He most notably pursued cases against companies involved in computer chip price fixing, investment banks, price inflation and the two thousand three mutual funds scandal he also sued richard grass so the former chairman of the new york stock exchange claiming he failed to fully inform the board of directors of his deferred compensation package which exceeded a hundred and forty million dollars so uh... so if you're gonna go be this kind of guy yet you know we have you got to keep your dick in your pants is the basic message exact house is this is that he took it

29:44 So he essentially was a do-gooder that probably was a benefit to the public at large, who essentially took himself out of the picture because he's a jerk. And don't you think that attitude is just rampant throughout all administration, John? I mean, isn't that obvious what's been going on for decades, maybe centuries, maybe all of humankind? You know, we'll make everything okay for everybody and shut up and do what we say. In the meantime, I'm gonna start filling my back pockets. Yeah, well, especially in this era. I mean, they could do it. The thing that bothers me, I think you're probably right, but the thing that's kind of bothersome and worrisome and that the public should... is that how blatant does it have to get before the public actually gives a shit? Well, we've been numbed and dumbed down, you know, again, so

CHAPTER 08 / 16 Discussion

Public Broadcasting Finance, Political Influence and Affiliates

The hosts examine the funding models of public broadcasting, noting that government grants often make up a small percentage of total revenue despite receiving the most media attention. They discuss the shift in power from central networks back to local affiliates and the political maneuvering within the Corporation for Public Broadcasting.

pbs· corporation for public broadcasting· bush administration· radio affiliates· funding· grants

30:39 You know, that's what it is. It's a society of spectacle. We want to see just people getting in trouble. We don't care if it's David Beckham, Britney Spears or Spitzer. We just, that's our entertainment, you know? And no, we're not thinking about what it really means. I mean, I grew up in a generation that just got so numbed by, you know, rhetoric and confusion. Nowhere in the world have I ever been in any type of election that was clear how it fucking worked. Look at the American process. The rest of the world is like, is it over yet? Is that guy the president yet? Or what happened? It's like the primaries were hyped so much that everyone's confused. Well, now I think they kind of understand, but all right, we'll forget about it now. It looks like it's going to be between those three.

31:35 And people just don't care, man. They don't care because we're taken care of so well, you know, these things don't affect us anymore. I think governments have figured out, you know, keep the trains running, don't even have to be on time, you know, keep some money flowing and everyone will shut up. Well, that's apparently the case, unfortunately. Yeah. That's why, that is why my friends, you need to start supporting this program. Yeah, you know that's we're gonna have to you know I was thinking about that I was looking at some public TV stuff and of course we'd have gotten some notes from people saying yeah, well, you know I might kick in a dollar no people like Leo's model, which is like two bucks a month on a recurring payment schedule. I mean come on. That's right. That's 50 cents a pop

32:29 So, I was looking at a couple of the public broadcasting people and it's interesting, one of them had a breakdown of how they financed themselves. And it was 55% were personal contributions, 40% were grants. 10% was the government and there was a bunch of, you know, the Corporation for Public Broadcasting and these. The funny thing is about that, of course, is that the 10% or less, in fact, I think it was eight, is the stuff that they squawked about the most, all these public broadcasters. And when the Corporation for Public Broadcasting got taken over by the Bush administration, they got rid of the

33:07 The left-wing do-gooders and put in the right wing do-gooders. And so everyone's squawking, but I'm thinking this is not where they're more, you know, this is just a piece of it. Well, the real power, the real power in public broadcasting is with the affiliates. I was following a story a week or two ago where all of this money that has been spent on and podcasting and interactive stuff and websites is now all being reappropriated and the money's going back to the affiliates. They have some ultimate power over this process. I'm not quite sure how it works, but they clearly can tell Homebase what needs to happen when they group together.

CHAPTER 09 / 16 Discussion

Radio Industry Management, Program Directors and Professionalism

Reflecting on their experiences in traditional media, the hosts critique the intelligence and ego of radio station managers and program directors. They cite an anecdote involving sports talk host Jim Rome and a Baltimore affiliate to illustrate the friction between talent and management. Dvorak contrasts the "jive-talking" commercial radio managers with the self-important attitudes found in public radio.

jim rome· radio management· program director· syndication· public radio· broadcasting

33:46 Well, I used to have a public radio show and it was always a, it was a painful experience to get anyone to pick up the show. And which I think is generally true with where it's wide open, it's like syndication as opposed to networks. And the problem in the radio, and I think this is what's interesting about this podcasting thing is that people do, the people that figure out how to use it, especially automated, really like it because it gives them a different perspective on things. In this case of our show, there's no commercials. But the thing is that the guys in radio, and I don't think the public generally appreciate this, even though if you listen to Jim Rome, he's always bitching about what he calls monkeys that run these stations. And he'll go on and on. In fact, he had a great story the other day where he wanted some affiliate

34:39 uh... he was bad nothing some city not really that i was going to a newspaper article in that city in the and the local we called that radio monkey got on and said he has to apologize to the city, I think it was Baltimore or Philadelphia, somebody. And he says, and we're giving him 48 hours or we're gonna- Pull the show. We're gonna pull the show. And Brohm said, oh yeah, I'm pulling the show. And he just killed the show and moved it to another station because it's in high demand. So this guy shot himself in the foot. But the public in general doesn't realize that in radio in particular,

35:17 The guys that run these stations, from the station manager to the program director, are extremely stupid. Yeah, they're like bankers. It's the same kind of guy. They all hang out together too. Drinkin' and whorin'. Well, they're not... Well, I wouldn't put them in the same league as bankers, because to be honest, I don't think too many of them go to strip clubs, but the... They're not the... They're stupid. I mean, in a really funny kind of way that is indefinable. And they all talk like this, hey man, hey man, they all talk like this, hey man how you doing? I heard that shift this morning, it sounded pretty good. Hey John, don't make me hotline you man. Yeah well that's different than the public radio guys. The public radio guys aren't the jive talkers that you're thinking of. They're just guys who would like to more or less... They want to be the president of NBC is what they want to be.

36:12 They want to be that or a professor. Right, okay. And they think highly of themselves and they just love the fact that they can, that they have power. Power, yeah, power. And they make decisions, programming decisions based on what they perceive as the public need. And their decisions affect people's lives, not just of the station operators but also those of the public at large. I have the power. But anyway, so it's very disappointing to work in that media. The TV guys are much better, but they're at least got something on the ball and they're better looking. So to bring it back though, to bring it back. So I still am hoping that someone comes up with some grant somewhere. I think that's the most elegant way of funding this program. But I'll certainly take donations. Yeah, that would be good. Well, we have to come up with some scheme.

CHAPTER 10 / 16 Discussion

No Agenda Monetization, Potential Celebrity Guests and Steve Jobs

Adam Curry and John C. Dvorak discuss strategies for growing the show's audience to 100,000 listeners and implementing a donation or grant-based funding model. They brainstorm potential guests, including George Clooney and Steve Ballmer, while Dvorak explains why he has been "blackballed" by Steve Jobs for over 20 years following a critical column in the 1980s.

monetization· paypal· tom cruise· george clooney· steve jobs· steve ballmer· podcasting

37:13 And we really do have to. I mean, we put a lot of effort into this show. How much... how much... what is our viewership? What is our listenership currently? Do you have any idea? Yeah, I'd say... yeah, yeah. It's growing, but it's between 15 and 20 thousand that's listening. An episode? Yeah, per episode, yeah. That's about the listenership of a reasonably popular local radio show. Well, that kind of depends on transmitter size, depends on market. I mean, that's not entirely true. But I think we can get this to a hundred, we should be able to get this to a hundred thousand. I mean, it should be possible. If it doesn't, or at least it should be growing consistently month over month, which it is. Well, if we get a hundred,

38:07 Yeah, we should get to 100,000 and at 100,000, 1% of those people will probably chip in. I mean, can't expect much more than that, and that's 1,000 people. And somebody said, well, whatever you do, don't do telethons or whatever it is. I think we do good. Put a PayPal button. We'll do good telethons. It would be funnier than yeah, we can do an auction. Oh, we can do an auction we can We can have celebrities on taking calls and taking money There's nothing like a celebrity to come on the show or take a lot of good voices. No, we can get some celebrities Yeah, I'm sure we get celebrities. Who would you want? Let's go after one. You tell me I'm sure I'm sure within Within one week we can track down anybody we want and they'll come on the show. I

39:03 Well, let's see. Well, first they'd have to be interested in the, you know, in some... Oh, you're working backwards, man. Shoot for the stars. Who do you want? I'm sure we can get to him. Well, who's the hottest stars right now? Let's get Tom Cruise. He's not hot. He's lame. He's totally lame. Let's get Angelina Jolie. All right, now she's pregnant. Tom Cruise is off the... I don't know. She might like to do it. You know, that's a good question. I'm not a big celebrity maven, so I'm not... Off the top of my head, I'm not thinking, oh, you know, that person I'd love to get them on. I like talking to you, man. I don't think there's anybody I'd really be interested in talking to. Well, no, of course there are some people. We should get... You know, George Clooney sounds like a guy you'd like to have a beer with. Yeah, I like him a lot. George. Yeah, he... I don't know him personally. He's personable. He does seem very personable. No, I see he's personable.

40:03 Yeah. And he's kind of like, like old Hollywood. Yeah, but he's on the short list. He's kind of like old Hollywood. You know, that's what I like about him. You know, he kind of has that Cary Grant kind of vibe, you know, like, don't worry, ladies, George will take care of you. No, he's a pretty cool guy. He plays that. That's just the role he's playing. Yeah, of course. He knows that he's he's milking it. Yeah. And your point would be He's a smart guy. He's probably fun to have a beer with. Okay, who else? That'd be cool to have on, Elliot Spitzer. I can get, what's that guy? Murray Sabren, I can get him on. He's running for Senate. I know. It's one of your crackpots, not balls. I haven't spoken to him yet. He called, he wants to be on the show. How about this year we can get Steve Ballmer.

41:04 Hey, what are we gonna... You know, we're not talking about nutcases. It's a nutcase, man. I have nothing to ask him. What, Balmer? Yeah, but I have nothing to ask him. I'm not interested. Yeah, you know what? Let's get him on the phone and ask him... No, let's ask him how you delete that stupid file that's making your laptop, your computer crash. Let's ask him that. It's the registry. Yeah. Here, Steve, could you come over and fix John's registry, please? He really needs your help. Yeah, okay. What's so you don't like Balmer? I didn't say that I'm just not interested What about one of the Google no not interested not interested? Well? I mean, you know I'm interested in you know any fair guys no no tech guys, please although I do although I do think if you if you got Steve Jobs into into the right zone into the right spot and

41:59 Which, you know, it's just never been done. It's never been done, exactly. But that would be interesting. I'm sure that would be entertaining. It probably would be, but you know, I've been blackballed from his talk-to list for 20 years, at least. Really? What did you do? Years ago. Oh, well, he has a long memory and he has a short list of black bald people in one of them. And what happened was when he quit the first time, back in the John Scully era, I had written I was writing for the inside track calling for info world at the time It's just like 80s early 80s, and I had written the headline Steve Jobs good riddance and That was it Okay, I'm sorry. I was gonna say I can see where that might be a little problem. I

CHAPTER 11 / 16 Discussion

Microsoft Internal Blacklist, Combs v. Microsoft Discovery

Dvorak reveals his inclusion on an internal Microsoft "do not inform" list discovered during the Combs v. Microsoft antitrust litigation. The list includes various tech figures and companies that were denied early access to software betas. Dvorak attributes his status to "blowing the lid off" private retreats Bill Gates held for select journalists at his Hood Canal estate.

microsoft· discovery· antitrust· bill gates· john c. dvorak· mark perkel· hood canal

43:00 So, but even though I've praised him since because I think he did a good job of turning the company around, he's not the type of person who, he's not a forgiving type of person who's ever going to talk to me. So that's the end of that. But hey, I don't hold back. I mean, I got a ban, I got this thing here, I gotta put this on the blog, this is kind of funny. Let me see what I find, it's in my piles of paper. Where is it? It's a memo. here it is i guess some copies you know there is this case combs versus microsoft no and uh... they've it was a big it was a lot when the iowa are some low place sued my question i think they got enough money on the antitrust settlement so they sued microsoft for continued you know violations of whatever and went into a discovery and picked up even more documents that they never just nobody's ever seen before and so i have my uh...

43:59 I'm on a list, curiously enough, with Mark Perkel, who's my computer time sysop for the blog, which is weird. But it says, it's a plaintiff's exhibit, number 1386, Comas versus Microsoft, Microsoft Windows MS Beta programs. And it says at the top, do not send or give any information to the below. And it says John C. Dvorak. No, they left the sea out, which is kind of annoying. But they have me in there with some crackpots. That's kind of weird though, man. That's like a communist list.

44:47 Mark and I are the only two people that are, except for Al Elamia, Joe Battaglia, and Joan Brewer, who was essentially kind of a stalker, because she had, and it says Brewer's alias is Joan Jett Redmond Rose William Tell Vogue Image, blah, blah, blah. She had a crush on Bill and was making him crazy. and I guess she was an employee or something. Anyway, then he's got, so those are the, that and then Mark Perkel are the, and then Gerard Franken of BHV, some company in Germany or Netherlands, do not give information to Geoworks, go IBM, profound computer, which was funny about the IBM thing since they were partners at the time. Puzzle system, Santa Cruz operations,

45:37 And they have the names of the people who, except for me, they say who told them to put them on the list. Sun Microsystems, Veritest, and then it says, do not give any information about MS-DOS 5.0 and ROMDOS, which I don't know what that even ever came out, to Apple. Computer Time, Mark Purkell, CompuThink, Digital Research, GeoWorks, Go, John Dvorak, IBM, MultiSoft. You're in good company, my friend. That's a good list. Excellent. Congratulations. No, you know, that's what I'm thinking. I mean, at least it shows that I'm not one of the normally corrupt types who cover this stuff. There you go. Proof is in the pudding. Because one of the things is I'm always busting them too because they used to do this meeting down in the Hood Canal. Bill Gates has a mansion somewhere in the Hood Canal area of Western Washington. And they would invite all the boys

46:35 to spend the night with Bill and the big lodge and this would include John Markoff and Walt Mossberg and everybody that you can think of that writes about Microsoft and they bring them in and they'd have a song and dance and they'd brainwash them as best they could, put them up and feed them and fly them out. I think most of these guys would have their own company fly them out because it was unethical for them to get a free airplane ride. Anyway, which is the part of the whole scam. But meanwhile, they're there schmoozing with these guys and feeling good about it. So anyway, so I found out about these meetings. They were once a year, because I was never invited.

47:15 And I just blew the lid off the whole thing, told them what they were doing and all sorts of stuff. What were they doing? Water cannon fights? Water balloon fights? Pillow fights? Hot dog eating contest? Beer guzzling? I can only imagine. It seemed like a corrupt practice. Of course. Where'd you write about that? I wrote about I think in PC Magazine and Insight Track. And I just pretty much outlined the whole thing, who was there, and you know, I didn't name all the names, but I made a point that this was like a corrupt practice. And that was the last time they did it. Oh man, that's why you were uninvited. Which probably broke everybody. Yeah, of course! No, this was just ten years earlier.

48:00 So, uh, this thing is non... Well, you totally... You're a party pooper. You spoiled it for everybody, Dvorak. You're off the list. I am a party pooper. You are a big-ass party pooper. Nice. So being a party pooper and all, uh, that's why Steve Jobs is not gonna come on our show. Hey, you know, uh... You know, Palmer, actually, I do correspond... Go ahead. I say I do correspond with Balmer once in a while. I mean, I'm still on good terms with him. I know Bill took a dislike to me some years ago and he acknowledges me when he sees me. He says, hi John, how you doing? And that's the end of it. But he's not a big fan of mine. Balmer probably doesn't necessarily like me, but we're civil. Yeah, I have about a once a year, three email exchange with Jobs.

CHAPTER 12 / 16 Discussion

Sarah Lacy and Mark Zuckerberg, South by Southwest Interview

The hosts discuss the controversial South by Southwest (SXSW) interview between journalist Sarah Lacy and Facebook founder Mark Zuckerberg. They comment on the negative audience reaction to Lacy's interviewing style and the general atmosphere of the Austin-based festival, which Dvorak dismisses as a "party scene" for people who live near each other in the Bay Area.

sarah lacy· mark zuckerberg· facebook· south by southwest· austin· cranky geeks· tech journalism

48:52 You know, once in a while he'll send me, I mean it's happened twice right, since I met him, that he sent me something and I've sent him something and it's usually one of those, you know, thought you would enjoy reading this blah and I'll say thank you, blow him and it's over right? Or the other way around. I like him, he's, yeah, I thought he was an okay guy. Most people don't. And he does, he has his little short list of people that he will send observations to, hoping that they pick him up and run with him.

49:30 I can't remember the last time he did this, but it was recently and he'd send something, it would always be some sort of a zinger. He'd send a zinger out to specific people hoping that one of them picks it up without attribution. He doesn't care about that. He just wants the zinger, which is usually a one-liner that's highly critical of a competitor, to be used and to get into the public domain. And not too many CEOs do that. I don't think that many even think of the idea. Generally speaking around my own material. I was earlier this morning this afternoon I was a horsing around a little bit surfing around a bit and I happened upon that the South by Southwest interview beat that Sarah Lacey did with Mark Zuckerberg right and Poor Sarah. Well, you know, it was a get her on cranky geeks Yeah well and I also watched cranky geeks where you indeed mentioned you were gonna try and get her on maybe for next week and

50:30 I was looking at that video, and I'd seen her on cranky geeks maybe two months ago. I'm just guessing it was about that that long ago and And I remember we had a conversation at the time I said you know she's not really my type But for some reason that South by Southwest she looked pretty hot something something's different I don't know that you can even see her that close I mean the one thing I thought was weird is that whoever's shooting that video and They had at some angle her, she was, I don't know if she had her legs on a, on a, on a, on a hammer. Her legs were way up in the air. Her knees from the camera angle were like at face level. Yes, that ticked two of the boxes, yes, okay, uh-huh.

51:13 And so that's part of what you were looking at being the late man that you are. No, there was some other ancillary video. You know people interviewed her after the fact and there's some YouTube stuff and she just looked good. She looked really sexy. She's a very flirty girl and I think it didn't go over well with that audience of you know... Right. uh... metro sexuals that go to that despite southwest thing have you ever been to south by southwest i've never been myself so now i don't have time for this stuff i mean i guess i can't even clean up my office i should be going down to austin it's just a party scene I think, you know, I should spend a couple thousand dollars going to Austin to party, listen to a band and drink beer. I can do that in San Francisco. Yeah, but then you're like a lot less money. But then you're interactive, dude. You gotta be hip and interactive. John C. Interactive Dvorak.

CHAPTER 13 / 16 Discussion

Portable Media Expo, Podcast Monetization and Monsanto

Adam Curry encourages Dvorak to deliver a keynote at the upcoming Portable Media Expo in Las Vegas to discuss new media monetization. The conversation pivots to the difficulty of obtaining grants and a critique of large agricultural corporations like Monsanto and Archer Daniels Midland, specifically regarding their legal tactics against journalists.

portable media expo· las vegas· keynote· monetization· monsanto· bst· agricultural industry

52:08 Interactive with what? With other people. With a bunch of people you're never gonna see again? That happen to live down the street from you? I mean, the thing that bugs me the most with these sentences is you go in and it's like, oh, yeah, hey, haven't seen you for a long time. Yeah, yeah, I blew you. Oh, you're in Berkeley too? Yeah, oh yeah, we're both, yeah, I'm in fact two blocks away. Oh, cool. We should do lunch. Oh, yeah, absolutely. We're gonna do lunch. Okay, cards get exchanged. Year goes by, nothing. Yeah, that's funny. That's exactly the way it is. I hate it. You should come this year. Oh wait. I'm gonna. I'm you you should be my guest I want you to come to the Portable media Expo it'll be in Vegas this year. This is what was the podcast Expo? I think it's in August you have to come you will I mean you think conferences are strange Wait until you see this one

53:04 What's so strange about it that I haven't seen something similar to like the game developers for example? The audience at the portable media expo is It's just fantastic to observe. It really is. Because you know, you have to understand that everyone who's there is probably a producer and everyone who's there is also listening to all the other people. So everyone is a star and a fan at the same time. And you just see all these dynamics going on. It's a fascinating thing to watch. It really is. Because people are getting props too. Like when someone comes up and says, hey, look at your name badge. Hey, you're the dude from the pickle podcast. I also see that you're wearing the podcast pickle suit. I listen to you. And that's a big deal. When people say, I listen to your show, it makes you feel good.

54:08 It gives you some kind of, I don't know, chemical reaction. Offset usually by lots of alcohol. Yeah, well, you know, maybe if they invite me to speak I'll come. Dude, you should do the keynote. They're always looking for a keynote. I've refused it every time. No, they're looking for... Isn't that the guys who charge you to do the keynote kind of thing? I think they've figured that one out. I think they've changed that and I'm sure they'll pay you. They'll pay you to come and do the keynote. That would be hilarious. Yeah, well, maybe I'll get somebody to throw something at me.

54:46 I'm going to investigate. I'm going to get you a keynote at the PME. You'll be great. Well, I do have a few speeches. No, we have to do a new one. You can't just use something you've used. Yeah, well I could do a new media speech from scratch. It's not a big deal. Well, the only thing it has to be about is how to make money. Because that's really the only thing anyone ever talks about. Oh, well let's get our begging thing going together and then I can explain how that works. How to make money. Yep, that's what it's all about monetization my friend. It's all about how to make money people love doing this shit They just want to get paid for it. That's it. It would be it would be better Yeah, it makes everything better and the fact of the matter is if you have like a hundred thousand listeners It seems to me. There's money to be made. There's gotta be but again, I think the grant I think that's the way to go I mean is it everyone pitches in because it's your tax money or whatever and sometimes it could be a private foundation I guess

55:52 that's handing out a grant. There's got to be one out there for some current news affair program. There's probably a ton of them out there. The problem is you have to be a grantsmanship person. You know, there's people that specialize in this as a business. I know. We've mentioned this before, but we need someone to step up, you know, step up to the plate with your grantsmanship and get us a grant already. Yeah, we do. That would be perfect. I think we could do... We'll have to keep begging, I guess. I just want to beg for a grant. That's much more interesting to me than little bits and pieces. I'm all for it. I think we should get a MacArthur. Where are those people when we need them? Or the Arthur Daniel Midlands Company. Oh, well, you know, I don't know if I want to take their money. Of course not. Well, I probably would. Aren't they military industrial complex guys?

56:48 They're the ones who are like, you know, making us grow corn and so now their wheat prices have jacked way up. Arthur Daniels, those guys and Monsanto are not companies that- You want to do business with. Well, it's just I don't think they're doing anybody a favor, let's put it that way. I mean, they're doing what they do. I mean, they're shareholders, I guess, and I'm sure the executives get paid well. But just, you know, I'm not, you know, the people in Monsanto sued a couple of journalists down in Florida or someplace. I should look that up and refer to it, because it was kind of disgusting. These people were just bitching about the fact, I think it had to do with the BST, that crap they give the cows to make them produce more milk. And they were trying to blow the lid off of something or other, and these Monsanto guys decided to sue them.

CHAPTER 14 / 16 Discussion

United Kingdom Tax Law, Non-Domiciled Status and Corporate Flight

Adam Curry provides an update on new UK tax regulations effective April 8th regarding non-domiciled residents. The rules impose a 30,000-pound annual fee for certain tax exemptions and introduce new levies on capital gains brought into the country. Curry notes that major tech firms like Yahoo and Google are reportedly moving operations to Switzerland in response to these changes.

uk tax· non-domiciled· pricewaterhousecoopers· capital gains· yahoo· google· geneva

57:37 And, you know, just as a harassment suit and that was the end of that. So I don't know. Just as an as an update, final update, I guess, PricewaterhouseCoopers got back to me. They now have the new tax rules that go into effect April 8th here in the United in the United Kingdom. Yeah. And this, of course, is the non-domiciled tax status that I'm most interested in. Okay, so they've changed a few things. It is going into effect. It'll affect people who have lived in the United Kingdom for seven years. So I have a couple more years to go before all of it takes effect, but some of it takes effect immediately. But essentially you will be taxed worldwide

58:24 Unless you pay 30,000 pounds per year to basically have the UK say, okay, whatever you want to make outside of the UK is your business. However, here's the interesting thing. Regardless, and this actually, this starts now, regardless of whether you're a domiciled or non-domiciled, regardless of whether you pay your 30,000, if you make capital gains outside the United Kingdom and you want to bring money in you will be taxed again. So, you know, to make a real long story short, what they've essentially said is, okay, if you want to live here, that's fine. And I think the whole thing with double taxation, they've worked all of that out. They've even come to an agreement with the states. So all of that's kind of cool and won't really make any difference, I don't think. But if you want to bring your money into the United Kingdom and you want to invest it or you want to use it to shop or you want to buy, you know,

59:24 houses or cars or whatever, that's fine, but there's an admission fee at the door to our store. That's essentially what they're saying, is you have to pay for the right to spend your money in the United Kingdom. And so again, the papers today are full of, what was it? There was like three companies have just announced they're moving to Geneva and or Zurich. They're all leaving. Oh, it's actually it was Yahoo, Google, and one other online company. I think it was Yahoo who said they were moving to Geneva. So they're all leaving now. It's stupid. It doesn't make any sense. You want people just to drag their money over and spend it in England. Whoa, hold on a second, John. You just started to sound like... Yeah, you sound kind of funny too. Let's do a reconnect. Okay, hold on. Okay. That was cool. No one even noticed it.

1:00:19 So what where were we I don't remember It took so long to reconnect I completely forgot well I think it was having to do with the fact that you have to spend $30,000 to spend money when it's just a smart thing to do is to let people spend money in your country. Yeah, it's it's nuts and And really, this whole thing has been spun so out of control. It has nothing to do with people not paying their fair share of taxes. That's really not what it's about. But now it's like, okay, I can buy stuff anywhere I want. I can invest in any country I want. I might choose not to spend 18% just for the privilege of bringing my money in. That's crazy. It doesn't make any sense.

CHAPTER 15 / 16 Discussion

Oil Prices, Gold Records and Industrial Diamond Uses

With crude oil reaching $110 a barrel and gold surpassing $1,000 an ounce, the hosts discuss the economic impact of rising commodity prices. Dvorak explains the industrial necessity of gold in semiconductors and the widespread use of industrial-grade diamonds for cutting and grinding in manufacturing, challenging the notion that these materials are only valuable for jewelry.

oil prices· crude oil· gold· diamonds· semiconductors· jewelry· manufacturing

1:01:06 We'll see you know if you go to San Francisco and roam around just like we're welcoming anyone that come in here drop every all the dairy nickel they have yeah, the place is crawling with Europeans Asians too. Yeah, yeah, there's some yeah, that's true. Well everybody always Everybody's coming to the States. It's a cheap. It's a great destination. Yeah, it's half off for the rest of our lives Come on over boys I mean they're coming over here and buying stuff that they can't even get in their own country at these prices and Yeah, it's pretty amazing. Although air travel, international air travel has not really gone down. That's kind of offsetting a lot. Do you think $110 a barrel oil has anything to do with that? Gosh, I mean, I predicted the $100 a barrel oil, but $110? I actually believe this year we get a new president. I think we'll see, I'm going to make a prediction right now, I think we'll see $200 before the end of the year.

1:02:09 I think that's going to be tough to sustain because right now it's just at the point where people are going to go, I mean I think people look at their, especially these Americans who drive these gas guzzlers, you go and you fill up your car and it's like $75. So you know, unless you're gonna... and just, you know, after a while you go, well, if you have to fill it up typically once a week if you're commuting, maybe more, and that's like 150, 300 bucks a month right off the top. I mean, geez. I'm not saying that people will be able to afford it. I think it's going that way. It's just like there's no... there seems to be no floor for the dollar. There's no ceiling for oil.

1:02:49 Now we'll see. Hold on a second. Gold's jumped over $1,000. That's kind of interesting. Is that the first time ever it's been over $1,000? Yeah. I think it hit 900 once maybe I don't know I'd have to look at some old charts But it wasn't doing anything for years, and then now it's just you know been rock so let me ask I've always wondered about this you might be the right person to ask so if you look at gold and you look at diamonds right both Substances that come from the earth that are that have a value attached to it and people know the value and with gold is even very very precise But what can you actually do with gold?

1:03:25 Is there any real good use you can use for it? Yeah, it's used on connectors for headphones. No seriously, it's a use for it. You have to use it for that. For semiconductors and things like that. They use a lot of gold because it's a good conductor of electricity. That's what you use it for. And there's a big market in that? I mean, there are people buying gold to use it? It's huge! Oh, I didn't know that. And then the other thing is teeth. You know people have gold teeth, and then the rest of it is jewelry. And how about diamonds? I mean the jewelry factor just doesn't work for me. I mean that's not a necessity of life. We need gold teeth. We need to be able to make semiconductors. Diamonds are used in the industry to an extreme. I mean most diamonds are not ever cut into jewelry. They're ground into this powders that they use for cutting through steel.

1:04:16 And they use lots of it, tons. I thought it was pretty useless myself. But I guess it's quite part of the industrial system, huh? Yeah, you really can't. There's a lot of things that can't really be done effectively without diamonds. And then mainly cutting. Okay. I'll have to change my feelings then about diamonds. Yeah, I think it gives them something to do with all this. Most diamonds are not commercial. They don't become jewels. But the ones that do, I mean those are obviously worth a lot more than powdered up stuff. And then there's the problem they have with diamonds and they can now artificially make them. Although they tend to be a little too perfect in some situations, in the glow, in the dark. But with gold, gold's pretty much what you got, it's what you got, you can't make it. Do you buy diamonds for your wife?

CHAPTER 16 / 16 Discussion

Silicon Valley Social Status, Wardrobe Choices and Outro

The hosts conclude with observations on social status symbols in Silicon Valley, such as large diamond rings and Rolex watches. Dvorak shares a story about a yellow striped shirt he wore to annoy a ZDTV executive, which he reprised for a recent Cranky Geeks appearance. The episode ends with a reminder of the show's "No Agenda" mission and a sign-off from both hosts.

melinda gates· rolex· silicon valley· zdtv· yellow shirt· harry fuller· podcast outro

1:05:14 She's not a big diamond person and her stone is not a diamond. It's a green sapphire or blue sapphire or something like that and that's what she likes. Oh yeah, but diamonds are a girl's best friend, John. Not hers, she has other friends. Jackson, guys like that? I don't know, you see, I remember the time that I first met Melissa or Melinda, Melissa Melinda, I don't know, I can't remember, I guess, Gates' wife. Is it Melinda or Melissa? Melinda, I think. Yeah, it is Melinda. It's Melinda, yeah. I met her once and maybe twice,

1:05:52 But I met her once after she was officially Bill's girlfriend, and she was still working at the company. And she was wearing the engagement ring, which I guess somebody told her to stop wearing, because I heard that you don't get to see it so much. The thing was, it looked like the stone was the size of a small golf ball. And it was quite flashy. But that's a big deal with the Silicon Valley guys. I see lots of them have wives with huge rocks. Some of them are second or third wives, but all huge rocks. Big deal in the Valley. Mm-hmm. Well, that and the Rolex. Gotta have one. The Rolex is almost a, if you find somebody in Silicon Valley, the semiconductor guys are the most identifiable in Silicon Valley, because they all have a Rolex.

1:06:50 generally a Rolex President Gold and they wear khaki colored pants and a blue shirt that's probably the color blue of like three seasons ago. It's never the current blue, which tends to have a lot of other colors in it. The newest one being, by the way, a blueberry, which is fantastic looking. You had a very colorful and light and airy ensemble on Cranky Geeks from this week. Like a yellow striped shirt? Oh right, this is my famous yellow striped shirt. This is a shirt I got years ago. That shirt's pretty old. And it used to wear it on ZDTV, that particular shirt, because Harry Fuller, who was one of the guys that was one of the executives there, hated it. And I could never figure out why, because it would really look great on camera, especially when you didn't have a jacket on.

1:07:47 And Fuller would always go, oh, that yellow shirt, I can't stand that yellow striped shirt. And he'd just moan and groan about it. So if I knew he was gonna be in the area, I'd always make sure to wear that thing. Kind of like your WNVC. So anyway, I had it in storage and I was going through some shirts because I ran out of shirts. I said, oh God, I have to bring out an old shirt. And I ran into that one. I said, ah, this will work. So next day I've worn it twice. Well, it looked good on you. It suited you quite well. Yellow works great since I'm so pale. Yeah, do you ever go on vacation, man? You ever like go sit in the sun on an island somewhere? I used to go to Hawaii once in a while, but now I kind of make my vacations part of my business. So if I go to like Europe for some business thing, I'll stick around for a few extra days. For a conference, right? You talk at a conference and then go hang out. Yeah. What a wonderful life you have, John.

1:08:43 Yeah, right. So I got the music playing man. Let's end the show. We're like an hour and 10 minutes once again. Yep, gotta get done. And it's taken us five hours to put it together with all the stops and configurations and shit. Unbelievable. All right, coming to you from the Curry Manor in the United Kingdom. I'm Adam Curry. And I'm John C. Dvorak in Northern California. We will talk to you again, whether you pay us or not, next week right here on NO Agenda.