Latest / The Bill Handel Show / Missing Scientists | Rise of the Frugal Rich
Transcript
- 0:00Speaker 1: You're listening to Bill Handle on demand from KFI AM
- 0:04Speaker 1: six forty.
- 0:07Speaker 2: I am six forty. Jill Handle here, Good morning. It
- 0:11Speaker 2: is a Tuesday morning, April twenty one. It's a Taco
- 0:15Speaker 2: Tuesday and some big financial news. Mike Dubuski, ABC News,
- 0:22Speaker 2: Technology reporter out of New York. Usually it's tech news,
- 0:27Speaker 2: but today is a little bit different because there is
- 0:31Speaker 2: a huge tech company news, and that is Tim Cook,
- 0:36Speaker 2: CEO of Apple, is stepping down, and I believe he
- 0:41Speaker 2: was the handpicked successor from Steve Jobs. Mike, thanks for
- 0:48Speaker 2: joining us. As always when you do come aboard, Am
- 0:50Speaker 2: I right on that Steve Job chose Tim Cook.
- 0:54Speaker 3: Yeah, you're absolutely right. Steve Jobs passed away in twenty eleven.
- 0:59Speaker 3: Just months before that, Tim Cook took over as CEO
- 1:04Speaker 3: of Apple, the kind of main successor to Steve Jobs,
- 1:07Speaker 3: and really did, if you look back at his legacy,
- 1:10Speaker 3: carry on a lot of the ideas that were kind
- 1:12Speaker 3: of foundational to the Jobs era at that company. Tim Cook,
- 1:16Speaker 3: you know, maybe didn't have like an iPhone or an
- 1:19Speaker 3: iPod launch to his name, but he did launch some
- 1:22Speaker 3: very important products like the Apple Watch air pods. He
- 1:25Speaker 3: oversaw the Max transition from Intel processors over to Apple
- 1:30Speaker 3: silicon processors, which sounds really boring, but it's actually quite important.
- 1:33Speaker 3: And overall, he grew Apple from a three hundred and
- 1:37Speaker 3: fifty million dollar company in twenty eleven when he took
- 1:39Speaker 3: over to today a four trillion dollar one.
- 1:43Speaker 2: Yeah, and I think that is the question I want
- 1:46Speaker 2: to share with you. I mean, Jobs was the visionary.
- 1:49Speaker 2: There was no question about it. He invented basically the computer,
- 1:53Speaker 2: I mean the personal computer obviously, and certainly reinvented the
- 1:58Speaker 2: phone with the I and Apple. I think during Jobs,
- 2:03Speaker 2: Apple was sort of a small niche computer company relative
- 2:10Speaker 2: to PCs. That was I mean, people that loved Apple
- 2:13Speaker 2: were fanatic about Apple. But he has gone from that to,
- 2:16Speaker 2: as you said, a four trillion dollar company. Could Steve
- 2:20Speaker 2: Jobs have done that himself? Did he have the skill
- 2:24Speaker 2: set to do that?
- 2:26Speaker 3: That's a very good question. Some general trend that we've
- 2:29Speaker 3: seen in Silicon Valley over the course of the kind
- 2:32Speaker 3: of late two thousands and all throughout the twenty tens
- 2:35Speaker 3: was these very charismatic you know, founders giving way to
- 2:41Speaker 3: kind of the adults in the room, the business people.
- 2:43Speaker 3: And you saw that not just at Apple but also
- 2:46Speaker 3: at Google, you know, with Sarah gate Brinn and his
- 2:49Speaker 3: co founder Larry Page stepping away in favor of kind
- 2:53Speaker 3: of you know, more business focused kind of growth mindset
- 2:57Speaker 3: type of guys. You know now, Sendar p Chi leads Google,
- 3:00Speaker 3: which has been reorganized as Alphabet, one of the most
- 3:02Speaker 3: valuable companies in the world. Same deal at Microsoft, Steve
- 3:05Speaker 3: Balmer gives way to you know, Sendar to Satynadella, and like,
- 3:11Speaker 3: there are many examples of this, even something like Uber
- 3:14Speaker 3: where Travis Kalanik, who is again this very charismatic founder
- 3:17Speaker 3: gives Ray to gives way to Dara Koshershahi, and to
- 3:20Speaker 3: a degree that makes a lot of sense. Right, Charismatic
- 3:22Speaker 3: founders are great at like gaining a lot of attention
- 3:25Speaker 3: and maybe getting some really exciting products out the door,
- 3:28Speaker 3: but they're also a bit of a liability, right that.
- 3:30Speaker 3: Steve Jobs was just as much a controversial figure as
- 3:32Speaker 3: he was a visionary, and Tim Cook is not that, right.
- 3:36Speaker 3: Tim Cook is a very down the middle kind of
- 3:38Speaker 3: guy who's pretty uncontroversial, and he took a lot of
- 3:41Speaker 3: the sort of foundational creative ideas from Steve Jobs and
- 3:45Speaker 3: made them into basically money machines. Powerhouses. We talk about
- 3:49Speaker 3: things like the Apple Watch and the AirPods. Sure they're
- 3:52Speaker 3: not as iconic or instantly recognizable as something like the
- 3:55Speaker 3: iPod or the iPhone, but they are hugely important to
- 3:59Speaker 3: apples stretrategy. If you have an iPhone and you have
- 4:02Speaker 3: a Mac and you're in the market for some earbuds,
- 4:04Speaker 3: chances are you're going to go get some AirPods. If
- 4:07Speaker 3: you're in the market for a smart watch, chances are
- 4:09Speaker 3: you're gonna go get an Apple Watch because these things
- 4:11Speaker 3: all work really well together. What that also does is
- 4:14Speaker 3: it makes it really difficult to go buy something else
- 4:17Speaker 3: when it comes time to re up, because then you
- 4:19Speaker 3: have to update everything. That's what we call a walled garden.
- 4:22Speaker 3: And that was a big part of Tim Cook's sort
- 4:24Speaker 3: of strategy during his time at Apple.
- 4:26Speaker 2: Okay, so you've got these creators of companies, these visionaries,
- 4:32Speaker 2: Bill Gates as well as other ones, and they became
- 4:36Speaker 2: CEOs of these massive companies because they created them. And
- 4:40Speaker 2: then you have people like Tim Cook, who is a
- 4:43Speaker 2: technocrat who has come up through the.
- 4:46Speaker 1: Management side of it.
- 4:48Speaker 2: Jack Welsch, who didn't create anything, but he was one
- 4:51Speaker 2: of the greatest CEOs out there, and do you see
- 4:54Speaker 2: this trend happening. For example, the new CEO of Apple,
- 5:00Speaker 2: John Turnus.
- 5:02Speaker 1: Yeah.
- 5:03Speaker 3: John Turnas is an interesting figure. He's very much a
- 5:06Speaker 3: Tim Cook guy and an Apple guy at his core.
- 5:09Speaker 3: He's been with the company for about twenty five years
- 5:11Speaker 3: at this point. He joined the company in two thousand
- 5:14Speaker 3: and one. His first big project was working on the
- 5:16Speaker 3: Apple Cinema Display, which is not a device that many
- 5:18Speaker 3: people instantly recognized, but was a monitor that the company
- 5:21Speaker 3: made in the early two thousands. Since then, though, he's
- 5:23Speaker 3: risen through the ranks of the company to be in
- 5:25Speaker 3: charge of some very important products, not just max and iPads,
- 5:29Speaker 3: but also the air pods, which again is something that
- 5:32Speaker 3: is really crucial to Apple's ongoing strategy. He's a hardware
- 5:36Speaker 3: guy right now, he's the head of Apple's hardware division,
- 5:40Speaker 3: and that and maybe gives us a clue into where
- 5:43Speaker 3: Apple's head is at, you know, as it enters kind
- 5:45Speaker 3: of the next phase of its history the next chapter here.
- 5:49Speaker 3: One of the other big things about Tim Cook's tenure
- 5:52Speaker 3: at Apple was that he led this transition away from
- 5:55Speaker 3: Intel chips, which again it's kind of an internal techie thing,
- 5:58Speaker 3: but it's important. This is the engine of your laptop, right,
- 6:02Speaker 3: This is the thing that makes your MacBook go. In
- 6:05Speaker 3: twenty twenty, Apple started making its own which meant that
- 6:08Speaker 3: Apple didn't need to rely on Intel. They didn't need
- 6:11Speaker 3: to deal with their supply chains or whatever was going
- 6:13Speaker 3: on at that other company. They controlled the whole stack,
- 6:16Speaker 3: and that allowed them to build computers at the rate
- 6:19Speaker 3: that they wanted to build them, build them with the
- 6:21Speaker 3: specifications that they wanted, that supported that Apple brand, and
- 6:26Speaker 3: they saw huge success from it. Not only were these
- 6:28Speaker 3: new MacBooks since twenty twenty hugely well reviewed, but they
- 6:31Speaker 3: also sold a ton of them. The guy who introduced
- 6:34Speaker 3: Apple Silicon these new chips was John Turnas, right like
- 6:38Speaker 3: he was the guy at the Apple event in twenty
- 6:40Speaker 3: twenty who did that, And I think that tells you
- 6:42Speaker 3: a lot about where he's going to go.
- 6:43Speaker 2: Okay, so let me ask you, is the CEO or
- 6:47Speaker 2: other CEO John Turnas these technocrats, is any of this
- 6:52Speaker 2: their idea or they're simply asked to implement those ideas
- 6:57Speaker 2: like the chip by whom I'm sorry, oh whoever?
- 7:03Speaker 1: I mean the board?
- 7:05Speaker 2: I guess yeah, they have the border. The previous CEO
- 7:07Speaker 2: who says, this is what I want to do. Tim
- 7:09Speaker 2: Cook relied on. Obviously, Steve Jobs implemented what Steve Jobs did,
- 7:15Speaker 2: and Tim Cook's genius was growing the company and making
- 7:17Speaker 2: it a very valuable company. I mean, he's a top
- 7:20Speaker 2: notch CEO, obviously, But do these new technocrats create ideas?
- 7:26Speaker 3: Yeah, that's a very good question because often a criticism
- 7:29Speaker 3: that is lobbed against Apple and a lot of its
- 7:31Speaker 3: competitors out there is that, like, they haven't really innovated
- 7:35Speaker 3: in the way that you know, we expected them to
- 7:38Speaker 3: kind of throughout the two thousands, Right, the iPhone comes
- 7:41Speaker 3: out and it changes the world. When was the last
- 7:43Speaker 3: iPhone that changed the world, Right, Like, it's been a
- 7:45Speaker 3: couple of years. I would say two things to that.
- 7:47Speaker 3: One the smartphone in particular, but also more broadly, like
- 7:51Speaker 3: the laptop category, even the smartwatch category. It's pretty good, right, Like,
- 7:56Speaker 3: what does your phone not do that you wanted to do?
- 7:59Speaker 3: Maybe it should probably have better battery, maybe the price
- 8:01Speaker 3: could come down, But like in terms of sheer functionality,
- 8:04Speaker 3: our phones do a lot. They're pretty close to a
- 8:07Speaker 3: perfectly mature technology. And I think that that, you know,
- 8:10Speaker 3: is just the nature of how technology has developed really
- 8:13Speaker 3: across the board. You've seen that, you know, going back
- 8:16Speaker 3: to the days of industry and the development of the
- 8:18Speaker 3: automobile and whatever else. So that's one piece of this.
- 8:21Speaker 3: The other piece of this, specifically as it applies to Apple,
- 8:24Speaker 3: is that Apple isn't actually ever the first to come
- 8:27Speaker 3: into a market, right, They're not really innovators in that way.
- 8:31Speaker 3: They don't blaze new trails. They were not the first
- 8:34Speaker 3: to make an MP three player, but they made the iPod.
- 8:37Speaker 3: They're not the first to make a smartphone, but they
- 8:39Speaker 3: made the iPhone. Same deal with smart watches, same deal
- 8:41Speaker 3: with earbuds and so on and so forth. They arrive
- 8:44Speaker 3: late to the party, but they arrive with a polished product,
- 8:48Speaker 3: one that they've learned from the mistakes of other companies
- 8:51Speaker 3: and implemented those fixes. Usually it's a little bit more
- 8:54Speaker 3: expensive than their competitors, but people, as we've seen, people
- 8:58Speaker 3: as we've seen pay up for it. So like at
- 9:00Speaker 3: the end of the day, you know, four trillion dollars
- 9:02Speaker 3: has nothing to sneeze at. And I think that's a
- 9:05Speaker 3: piece of this as well, is that, like they're actually
- 9:07Speaker 3: not innovators in the way that we think they are.
- 9:09Speaker 3: They're perfectionists. They take something that you know might not
- 9:13Speaker 3: be a totally mature category and they arrive with the
- 9:16Speaker 3: perfected version of that thing.
- 9:17Speaker 1: At least that's their idea.
- 9:19Speaker 2: Mike, thank you all this great stuff. We'll talk again soon. Okay,
- 9:25Speaker 2: moving over to Chicago and what's going on in Chicago. Well,
- 9:28Speaker 2: June ninth, nineteenth the new Barack Obama Presidential Center. Now
- 9:34Speaker 2: you notice I didn't say presidential library because it's technically
- 9:38Speaker 2: not a library. It's far more than that. It's going
- 9:41Speaker 2: to break three records, modern era records, the time it's
- 9:47Speaker 2: taken to be completed, the project cost, and the money
- 9:52Speaker 2: to get inside. What's the price going to be, well,
- 9:56Speaker 2: thirty bucks to get inside, and that's more than any
- 10:00Speaker 2: other presidential library, fifty nine percent higher than the average
- 10:06Speaker 2: from presidents from JFK through George W.
- 10:09Speaker 1: Bush.
- 10:11Speaker 2: The top admission for the Obama Center is keeping in
- 10:17Speaker 2: line with the record expense of the project. And it's
- 10:21Speaker 2: in a city known for costly urban development, complex steep taxes,
- 10:29Speaker 2: and a whole bunch of cultural attractions. Chicago is a
- 10:32Speaker 2: neat city. I mean, it is one of the best
- 10:35Speaker 2: cities in the United States except wintertime, when that lovely
- 10:40Speaker 2: wind comes off the lake and it gets to be
- 10:44Speaker 2: forty degrees below zero, it's a lot of fun. So
- 10:49Speaker 2: Chicago is where President Obama comes from. So Chicago is
- 10:53Speaker 2: the library at location, and the president chooses library location. It's
- 10:56Speaker 2: always his call or her call. And it looks like
- 11:01Speaker 2: it's going to become a democratic mecca. And why because
- 11:05Speaker 2: people want to connect to the most popular living former president.
- 11:12Speaker 2: And so the center is expected to attract seven hundred
- 11:15Speaker 2: thousand dollars or seven hundred thousand visitors every year and
- 11:20Speaker 2: be an economic engine for the city and fundraising success.
- 11:26Speaker 2: And this is important. The Obama Foundation, which is funding this,
- 11:31Speaker 2: disclose the number of donors of one thousand dollars, one
- 11:35Speaker 2: thousand dollars and one one dollars or more. And that
- 11:40Speaker 2: is in deep contrast to the president. Next the Democratic
- 11:46Speaker 2: president after Obama, a guy by the name of Joe Biden,
- 11:51Speaker 2: former President Joe Biden, got off to a very slow
- 11:55Speaker 2: start for his center in Delaware, and a lot donor saying,
- 12:00Speaker 2: you know, raising those funds is going to be a
- 12:03Speaker 2: heavy heavy lift.
- 12:04Speaker 1: And why is that.
- 12:06Speaker 2: Well, one of the things about presidential centers you sort
- 12:09Speaker 2: of have to get the money in the first year
- 12:13Speaker 2: after leaving the White House. Because the president is still
- 12:16Speaker 2: popular Obama, there was no issue coming up with the money.
- 12:20Speaker 1: Even though the costs have tripled.
- 12:23Speaker 2: If you look at President Biden's presidential library, they actually
- 12:29Speaker 2: having bake sales on street corners to raise the money
- 12:35Speaker 2: to build his library. And it's going to be a well,
- 12:41Speaker 2: it's going to look an awful like like a very
- 12:43Speaker 2: fancy motel six. It's not going to be much of
- 12:48Speaker 2: a presidential presidential library. And as time passes, it becomes
- 12:54Speaker 2: way less relevant and major donors they die, is what happens.
- 12:59Speaker 2: I mean years later. It takes a long time to
- 13:02Speaker 2: build a library, and libraries become very very complicated, and
- 13:07Speaker 2: you get every paper, every document, every bit of memorabilia
- 13:14Speaker 2: from a president. And Obama had two terms. Biden, of
- 13:19Speaker 2: course had one, so already you have twice the number
- 13:22Speaker 2: of artifacts and paperwork and I mean communicates, emails, I
- 13:26Speaker 2: mean just millions of pages literally, and if they're going
- 13:31Speaker 2: to be indexed and if they are going to be
- 13:33Speaker 2: made available, it basically becomes a museum. And it is
- 13:36Speaker 2: a museum, someone's got to figure out what's going to
- 13:40Speaker 2: be shown what is not if you go to the
- 13:43Speaker 2: presidential library, the Reagan Library, which is tremendous, I mean
- 13:47Speaker 2: it is a great library. And then even the Nixon Library,
- 13:50Speaker 2: they have revolving exhibits and those have to be curated. Okay,
- 13:57Speaker 2: the Obama Library presidential library, which is actually more than
- 14:01Speaker 2: a presidential library. It started at three three hundred million
- 14:05Speaker 2: dollars to build it. The final price tag hit eight
- 14:09Speaker 2: hundred and fifty million dollars.
- 14:11Speaker 1: That opens up in a couple of weeks.
- 14:13Speaker 2: It's a nineteen nineteen acre campus includes a museum, foundation
- 14:18Speaker 2: offices because the Obama Foundation is going to be there,
- 14:21Speaker 2: a public library, recreational spaces, and this is the nation's
- 14:26Speaker 2: by far, the most expensive presidential library. And about five
- 14:31Speaker 2: hundred million dollars were raised for this. Well, the George W.
- 14:37Speaker 2: Bush Library Museum in Dallas that was five hundred.
- 14:41Speaker 1: This is eight hundred and fifty.
- 14:43Speaker 2: And Illinois resident's could be in Chicago helped underwrite some
- 14:46Speaker 2: of the infrastructure. Illinois residents get in free on Tuesdays
- 14:50Speaker 2: and get a four dollars discount. Other days they have
- 14:54Speaker 2: to show proof of residency, driver's license, et cetera. Emily
- 14:58Speaker 2: Bittner the foundation spokespersons said, our campus is free and
- 15:02Speaker 2: open to the public, with the exception of the first
- 15:06Speaker 2: or the four floors of the museum.
- 15:09Speaker 1: We offer tremendous new amenities.
- 15:11Speaker 2: No other center has an NBA regulation basketball court, a
- 15:17Speaker 2: two level playground, a recording studio, classroom, spaces two dozen
- 15:22Speaker 2: newly commissioned pieces of public art, and reduced and free
- 15:27Speaker 2: admission will be available to people receiving federal food assistance
- 15:31Speaker 2: and active duty personnel.
- 15:35Speaker 1: And so how much are going to cost to get in? Well?
- 15:38Speaker 1: Thirty dollars. Now, that's sort of.
- 15:41Speaker 2: In line with what these museums actually charge. The Kenneth
- 15:47Speaker 2: Griffin Museum of Science and Industry not far away, is
- 15:51Speaker 2: twenty six dollars. This is thirty, The Adler Planetarium is
- 15:55Speaker 2: twenty five. The Art Institute of Chicago is thirty two.
- 16:01Speaker 2: And so why is it going to be so expensive
- 16:03Speaker 2: to get there? Well, first of all, the thirty dollars,
- 16:05Speaker 2: which is not the end of the world. But you
- 16:07Speaker 2: stay at a hotel and that's the nation's highest hotel
- 16:10Speaker 2: tax at nineteen percent.
- 16:13Speaker 1: Purchases at the center's gift.
- 16:16Speaker 2: Shop, well that is a ten, ten, ten point twenty
- 16:21Speaker 2: five percent in state and local sales tax. Well, we
- 16:24Speaker 2: have that, so it doesn't bother us, but it's a
- 16:26Speaker 2: stunner for the rest of the country. There's a fifteen
- 16:30Speaker 2: cent shopping bag tax, of which the retailer and that's
- 16:37Speaker 2: across the board, gets fourteen cents, the city gets fourteen cents,
- 16:42Speaker 2: and the retailer gets one cent. And of course double
- 16:47Speaker 2: digit taxes on alcohol and if you want to smoke
- 16:51Speaker 2: there the cost of cigarettes.
- 16:55Speaker 1: Chicago has the highest.
- 16:56Speaker 2: State local tax of seven hundred seven dollars and sixteen
- 16:59Speaker 2: cents pack. That's the tax part. That's just the taxes
- 17:04Speaker 2: seven dollars. And then you have short term parking rates. Again,
- 17:10Speaker 2: the nation's highest oh to get into the Nixon Presidential
- 17:15Speaker 2: Library is twenty nine dollars. Unless you do what I
- 17:19Speaker 2: do and rent a wheelchair and have someone roll you in,
- 17:23Speaker 2: then it becomes free.
- 17:26Speaker 1: It's a good idea.
- 17:26Speaker 2: Let me tell you can also do canes. Those kind
- 17:28Speaker 2: of work very well too. Walmart Nurse Walmart has these
- 17:31Speaker 2: collapsible canes that are like eight dollars, and so you
- 17:36Speaker 2: just put them all together and.
- 17:38Speaker 1: It's yeah, you get a great deal.
- 17:41Speaker 2: Now the center is five years behind what was originally planned.
- 17:46Speaker 2: And the panic, the pandemic that disrupted a lot, and
- 17:52Speaker 2: you have the urban environment.
- 17:55Speaker 1: It's in the middle of the city additional cause.
- 17:57Speaker 2: And I keep in mind the Reagan Library is out there,
- 18:00Speaker 2: and for fourth in Land, it's out.
- 18:03Speaker 4: Near It's Seamy Valley.
- 18:05Speaker 1: Yeah, which is for land. Yeah, for forefn Land. It's
- 18:09Speaker 1: a beautiful drive out there. Yeah, it's lovely.
- 18:13Speaker 2: Yeah, yeah, it's there's nobody there. Let me tell you.
- 18:16Speaker 2: If your car is stuck, right and you're done.
- 18:20Speaker 1: He's done.
- 18:20Speaker 3: No, down the street, there won't.
- 18:23Speaker 2: There won't be a car passing you for eight hours.
- 18:26Speaker 2: You're just stuck.
- 18:27Speaker 1: But it is. But it's a great library, all right.
- 18:32Speaker 2: Oh, and then the time it took to build the
- 18:35Speaker 2: Ronald Reagan Library took a thousand days to build after
- 18:38Speaker 2: he left office. Bill Clinton's took fourteen hundred days to build.
- 18:43Speaker 2: George HW. Bush and George W. Average sixteen hundred days
- 18:48Speaker 2: to build. Obama is three thousand, four hundred and thirty
- 18:52Speaker 2: seven days to build.
- 18:54Speaker 4: It is it true that the Clinton Library everybody got
- 18:58Speaker 4: paid under the table.
- 19:00Speaker 2: That's very funny. Well, if not paid under the table,
- 19:03Speaker 2: there was a lot of sex under the under the desk. Yeah,
- 19:08Speaker 2: celebrating what the president did. If you go to the
- 19:10Speaker 2: Nixon Library, it actually does talk about Watergate a little bit.
- 19:16Speaker 2: And if you go to the Reagan Library, uh, the
- 19:20Speaker 2: fact that he was mentioned that he was married to
- 19:22Speaker 2: Jane Wyman before Nancy Reagan. There is one mentioned one
- 19:31Speaker 2: and it sort of disappeared.
- 19:33Speaker 1: The Reagan Library.
- 19:34Speaker 2: Just doesn't exist, or the second the first marriage doesn't exist.
- 19:40Speaker 1: A little fun fact.
- 19:41Speaker 4: Tracy and I were married in the same little chapel
- 19:45Speaker 4: that Ronald Reagan and Nancy Reagan.
- 19:47Speaker 1: Were married in. Oh, and that's the Little Water Canyon. Yeah,
- 19:50Speaker 1: little brown chapel up on the.
- 19:53Speaker 4: Hill, little brown, little brown chapel.
- 19:55Speaker 1: Yeah, little brown or little red chapel. Yeah, it's room
- 19:58Speaker 1: for thirty people or something in there.
- 20:00Speaker 4: Yeah, we didn't even have that many as you were small.
- 20:02Speaker 4: You were in londonner or something.
- 20:07Speaker 2: Okay, let's end the show with something that you may
- 20:11Speaker 2: not be aware of. And it's very interesting is that
- 20:15Speaker 2: there are plenty of rich people six figure salaries well
- 20:18Speaker 2: into the six figure are going to discount retailers. In
- 20:24Speaker 2: twenty twenty five, twenty seven and a half percent of
- 20:28Speaker 2: high income shoppers use discount retailers I'm talking about like
- 20:32Speaker 2: Dollar Tree and Dollar stores, and that's up from only
- 20:38Speaker 2: twenty percent meets up basically eight percent, and even the
- 20:43Speaker 2: fight Here's why, because even people were financially comfortable.
- 20:47Speaker 1: Just looking at the cost of stuff.
- 20:50Speaker 2: I mean, it's expensive out there, and if you don't
- 20:52Speaker 2: have money, you're reeling. I mean you look at the
- 20:56Speaker 2: cost of beef, you look at the cost of food
- 21:01Speaker 2: across the board, well obviously gasoline so well.
- 21:06Speaker 1: A group, a sizeable.
- 21:07Speaker 2: Minority, have always been frugal, maybe because they grew up
- 21:11Speaker 2: modestly and kept those habits. I live very modestly, relatively
- 21:15Speaker 2: modestly in terms of shopping for food, certainly in terms
- 21:19Speaker 2: of going out to dinner, certainly in terms of clothes,
- 21:22Speaker 2: because my go to shopping is, of course Costco. I
- 21:27Speaker 2: buy most of my food from Costco and Smart and
- 21:30Speaker 2: Final a lot of it because it's all frozen. Do
- 21:33Speaker 2: you know that, Lindsay I had to buy a freezer.
- 21:36Speaker 2: I put it in the garage just for my stuff.
- 21:39Speaker 2: She will not let me put all my frozen burritos
- 21:43Speaker 2: and shrimp and chicken because she's disgusted by it.
- 21:48Speaker 1: And I have so much of it. I just discuss
- 21:50Speaker 1: it by it being frozen.
- 21:51Speaker 2: No, she's disgusted, you know, the whole, just all of it.
- 21:55Speaker 2: You know how unhealthy it is. So she doesn't want
- 21:57Speaker 2: it anywhere near our stuff, the the good stuff, the
- 22:01Speaker 2: quality meets all of that that we keep.
- 22:05Speaker 1: They all go into the freezer.
- 22:08Speaker 2: At they go into the freezer in the kitchen.
- 22:11Speaker 4: Oh, your marriage sounds magical.
- 22:14Speaker 2: Uh yeah, it is magical. It is magical. I was
- 22:17Speaker 2: happy because she makes your stuff disappear. Yeah, that's very funny. Yesterday,
- 22:22Speaker 2: as Amy, I was guessed Amy at Disneyland as a
- 22:26Speaker 2: lovely couple came with us and we were talking about
- 22:30Speaker 2: marriage and uh yeah, and Sean said, well, at least
- 22:34Speaker 2: you're happy.
- 22:35Speaker 1: I not particularly. No, Okay, well there's there's my marriage. Now.
- 22:42Speaker 4: Sean and his lovely wife seem incredibly happy.
- 22:45Speaker 2: Uh yeah they are, But but they're delusional.
- 22:49Speaker 1: Is that right?
- 22:50Speaker 2: Yeah, there's I mean, there really is no such thing.
- 22:52Speaker 2: It's like, uh, you know, flat earthers and people believe
- 22:55Speaker 2: in aliens. No, no, it doesn't exist. Happy marriages do
- 22:59Speaker 2: not exist. Uh, you just sort of muddle through them.
- 23:05Speaker 1: Are we done?
- 23:06Speaker 4: I disagree?
- 23:07Speaker 2: Okay, fair enough, Okay, we are done Gary and Shannon
- 23:12Speaker 2: are up next.
- 23:13Speaker 1: Uh this tomorrow morning? Amy? Who actually you know? Amy?
- 23:17Speaker 1: Considering what we did yesterday, you look pretty alive this morning.
- 23:21Speaker 1: I'm hanging on by.
- 23:24Speaker 2: It's the handful of meth pills that she's taken eating
- 23:29Speaker 2: like skittles. All right, tomorrow morning, it's well, I forgot
- 23:31Speaker 2: to say hello to will Is Will there in studio?
- 23:34Speaker 1: Yes, I never sorry, I forget. I haven't gone. I
- 23:38Speaker 1: haven't gone down.
- 23:39Speaker 2: The hall to see if you were there, because it'd
- 23:42Speaker 2: be it'd be an hour and a half drive and
- 23:45Speaker 2: I'm that Believe me.
- 23:46Speaker 1: You're not that important to me. Wow, Okay, I say, guys,
- 23:50Speaker 1: We're done.
- 23:51Speaker 2: Uh tomorrow, same time, same place, same station, KFI A
- 23:57Speaker 2: M six forty.
- 23:59Speaker 1: You've been with geting to the Bill Handle Show.
- 24:01Speaker 2: Catch My show Monday through Friday, six am to nine am,
- 24:04Speaker 2: and anytime on demand on the iHeartRadio app.