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Is the AI Boom Losing Wall Street's Confidence? · The Financial Exchange Show

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Speaker 1: is The Financial Exchange with Chuck Zotta and Mike Armstrong.
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Speaker 2: Chuck, Mike, and Tucker with you here on The Financial Exchange.
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Speaker 2: We are proud to be participating today. In our Boston
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Speaker 2: affiliate WRKO's Radiothon to benefit the Disabled American Veterans Department
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Speaker 2: of Massachusetts. This is something that we participate in every
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Speaker 2: single year for just a fantastic cause. And so this
1:33
Speaker 2: is a big one for us. Again, these are people
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Speaker 2: that have gone and served. in the military and have
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Speaker 2: been injured serving in the military and need our support
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Speaker 2: when they come back and try.
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Speaker 3: To adjust back into civilian life.
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Speaker 2: That support can come in a number of different forms,
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Speaker 2: from helping to get them to doctor's appointments, to providing
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Speaker 2: counseling services, to whatever it might be to help them
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Speaker 2: get back to civilian life and acclimate to the significant
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Speaker 2: differences from being in the active duty military. And so, again,
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Speaker 2: to donate to this cause, you can call 978-632-1985. You
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Speaker 2: can also go to dav5k.
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Speaker 3: Boston. That phone number, again, is 978-632-1985, or you can
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Speaker 3: go to dav5k.
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Speaker 1: Boston.
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Speaker 2: We're going to have a couple guests on this hour
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Speaker 2: as well, talking about their experiences with the DAV. And so, again,
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Speaker 2: just a really great day to help support people that
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Speaker 2: have sacrificed a lot to help protect us. Again, that
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Speaker 2: phone number is 978-632-1985. There's also, using that same phone number,
2:49
Speaker 2: there's an auction that's going on for a six-course dinner
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Speaker 2: for eight people from Chef Paul Wahlberg at Paul's Restaurant.
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Speaker 3: Almanove and Hingham.
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Speaker 2: It's for, again, eight people, you and seven of your
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Speaker 2: closest friends, or seven of your not-closest friends. We don't
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Speaker 2: know why you would invite them to something this great.
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Speaker 2: It's got food. It's got drinks included in it, everything. Tucker,
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Speaker 2: what's the current high bid on that?
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Speaker 4: So the current high bid that we have for that
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Speaker 4: lovely auction is $ 8, 000. And if you want to increase
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Speaker 4: that bid, all you have to do is call that
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Speaker 4: same number that Chuck just gave out, 978-632-1985.
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Speaker 3: Feels like an underbid.
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Speaker 2: Would like to see that get a little bit higher
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Speaker 2: during the course of the hour here. So, again, 978-632-1985.
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Speaker 2: And so, again, that's the number to participate in the
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Speaker 2: auction or to donate. And we'll have plenty more on
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Speaker 2: this as we go through the show. Yesterday, markets, not good. Today,
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Speaker 2: a little better. But, again, like when you lose... To
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Speaker 2: put into context for just how bad yesterday was, on
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Speaker 2: every single major index, we're talking one of the worst
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Speaker 2: 1% days in history. Like, the NASDAQ composite, the data
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Speaker 2: that I have, which is not complete, it's only going
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Speaker 2: back to 1984, it was the 35th worst day ever
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Speaker 2: for the NASDAQ. Since 1984, so for 43 years. The
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Speaker 2: Dow had its 208th worst day ever. I do have
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Speaker 2: that data going back to 1930. S & P was
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Speaker 2: its 130th worst day ever, going back to 1928. So, like,
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Speaker 2: a lot of times, if we have, like, a 2%
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Speaker 2: down day, I'll be like, hey, like, guys, this isn't
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Speaker 2: that big of a deal. You know, this happens anywhere from, like,
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Speaker 2: 6 to 10 times most years. Like, don't worry about it.
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Speaker 2: Even now, like, my message is not, like, worry and
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Speaker 2: freak out. My message is more, hey, we saw some
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Speaker 2: stuff yesterday that you don't see every day. Like, the
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Speaker 2: The Philly Semiconductor Index was down 12.2%. There's only one
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Speaker 2: day ever that was worse on the Philly Semiconductor Index.
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Speaker 3: Just one.
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Speaker 2: So, that's the story about how bad things got yesterday. Again,
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Speaker 2: semiconductors had their second worst day ever.
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Speaker 3: The only one that was worse, I believe.
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Speaker 2: was during COVID when everything went nuts on a couple
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Speaker 2: of those days. You strip that out, which was a
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Speaker 2: very unique market, and it's basically like, look, even in
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Speaker 2: the tech bubble, you didn't have a day like yesterday
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Speaker 2: for semis. So that is worth writing home about, and
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Speaker 2: if you're a little bit nervous about it, I understand.
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Speaker 2: Everyone gets nervous when markets get all gyradian and weird
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Speaker 2: like that. It's not a comfortable feeling, but the important
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Speaker 2: thing is to Think about this in the broader context.
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Speaker 3: There's two things to do.
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Speaker 2: Number one, like if you're panicking at the bottom, like
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Speaker 2: you're probably too aggressive for your risk tolerance. You got
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Speaker 2: to be able to hold that thing through good and bad.
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Speaker 2: And sometimes that means, hey, if your risk tolerance is
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Speaker 2: no tolerance for losses, great. Your money belongs in a
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Speaker 2: bank account.
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Speaker 1: True.
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Speaker 2: If you've got, you know, hey, I can deal with,
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Speaker 2: you know, a two percent drawdown each day, but not four. okay,
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Speaker 2: maybe you shouldn't be 100% in equities. Maybe you need
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Speaker 2: to be more conservative than that and figure out what
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Speaker 2: to do there.
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Speaker 5: Yeah, Chuck, my biggest concern here is that what we
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Speaker 5: saw yesterday was a– yesterday and, frankly, the last few
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Speaker 5: weeks has been a pretty stunning rebuke of the exact
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Speaker 5: thing that led markets for the last three years. And
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Speaker 5: so even by accident, a lot of investors might be
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Speaker 5: overexposed to it.
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Speaker 2: Yeah, a lot of investors don't realize that the S
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Speaker 2: & P is 40% technology and probably close to 50%
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Speaker 2: tied to AI companies, if you include the ones that
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Speaker 2: are involved in construction and stuff like that. Again, you
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Speaker 2: don't want to make any sudden moves, because who knows
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Speaker 2: where this goes from here. But what I can tell
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Speaker 2: you is that even semiconductors, they peaked in late June.
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Speaker 2: For semis, it's been a four- to five-month reckoning already.
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Speaker 2: They didn't just wake up yesterday and they're like, oh,
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Speaker 2: we're going to puke 12%. No, you look at a
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Speaker 2: lot of these semiconductor stocks, and I'm pulling them up
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Speaker 2: now just so that I can give you the accurate numbers,
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Speaker 2: but three-month numbers, Broadcom's down 30% for the last three months.
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Speaker 2: Was half of that yesterday? Sure, but it was down
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Speaker 2: 15% before that. Let's actually look at six-month performance. No, no,
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Speaker 2: three's good because six, we're including some of that uprun
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Speaker 2: in the spring. Intel's down 43% in the last three months.
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Speaker 2: Dell's down 27%. SanDisk, 32%. Pied Materials, 36%. Micron, 20%. Again,
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Speaker 2: these are meaningful numbers.
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Speaker 3: And some of it.
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Speaker 2: Happened yesterday, but a big chunk of it was before
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Speaker 2: this week even started in a lot of these cases. So, again,
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Speaker 2: just be aware of how the index is set up
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Speaker 2: right now and kind of what that means because.
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Speaker 2: It's fundamentally different. The other thing I will say on
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Speaker 2: all this, this was, again, yesterday I mentioned it was
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Speaker 2: the 35th worst day for the NASDAQ composite in its history.
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Speaker 3: At least the last 43 years.
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Speaker 6: Since 1928, it's the 130th worst day for the S
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Speaker 6: & P 500.
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Speaker 2: So there were 129 days in the S & P
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Speaker 2: that have been worse. Mike, despite that, did the S
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Speaker 2: & P 500 still produce all the returns it's produced
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Speaker 2: for the last 100 years?
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Speaker 6: Yeah, I think so. It did. It hasn't gone to
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Speaker 6: zero so far.
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Speaker 2: This is not normal in that it doesn't happen every day,
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Speaker 2: but this is how these markets have functioned. This is
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Speaker 2: an example of healthy functioning markets. In North Korea, the
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Speaker 2: semiconductor stocks don't lose 12% in a day because they
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Speaker 2: don't let them. I don't even know if North Korea
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Speaker 2: has a stock market. I'm sure it doesn't. Even there,
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Speaker 2: there's no stock market in North Korea. I don't know,
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Speaker 2: but They wouldn't let this happen. The fact that it's
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Speaker 2: able to happen actually means you have healthy, functioning markets
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Speaker 2: that can seek out new prices when new information becomes available.
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Speaker 2: And that's a good thing in the long run, even
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Speaker 2: if it's the price that you pay for admission in
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Speaker 2: the short term. Let's take a quick break here, and
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Speaker 2: when we return, we're going to be joined right after
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Speaker 2: this by Mike Valila.
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Speaker 3: Mike, if you're not familiar with him.
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Speaker 2: He is the department adjutant for the DAV Department of Massachusetts,
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Speaker 2: and he helps to manage basically like a ton of
9:36
Speaker 2: the programs and everything that goes on with it. And
9:39
Speaker 2: so Mike is joining us right after this.
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Speaker 4: The Financial Exchange is a proud partner of the Disabled
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Speaker 4: American Veterans Department of Massachusetts, and this year's 5K is
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Speaker 2: And yeah, we are currently in the middle of the
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Speaker 2: Radiothon in support of the Disabled American Veterans Department of Massachusetts.
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Speaker 2: This is put on every year by our Boston affiliate, WRKO.
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Speaker 2: And so we are always happy to participate for a
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Speaker 2: great cause to donate again.
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Speaker 3: You can call 978-632-1985. That number again is 978-632-1985. Or
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Speaker 3: you can go to DAV5K.
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Speaker 7: Com.
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Speaker 2: As promised, we're now joined by Mike Valila, the department
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Speaker 2: adjutant for the DAV Department of Massachusetts.
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Speaker 3: Mike, how are you today?
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Speaker 7: I'm good today. Thank you for having me on the show.
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Speaker 2: It's always good to chat with you and great to
11:25
Speaker 2: have you with us today. Mike, we know that the
11:28
Speaker 2: DAV of Massachusetts is something that's just really important to
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Speaker 2: you and just really something that's close to your heart.
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Speaker 2: Can you tell us a little bit about how the
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Speaker 2: organization first helped you?
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Speaker 7: Yeah, yeah, it can. So when I first came home
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Speaker 7: from my deployment, it was a crazy time. They rushed
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Speaker 7: to have the troops home for Christmas. And, you know,
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Speaker 7: I'm sure it was fantastic for the families at home
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Speaker 7: waiting for us. But for us, rushing home. We were
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Speaker 7: at our demobilization site for, you know, a fraction of
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Speaker 7: the normal period you would be there. And then they
12:11
Speaker 7: got us home for Christmas Eve. And, you know, you
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Speaker 7: think you're ready for that. You're looking to get home
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Speaker 7: to your family. But you're really not ready in that
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Speaker 7: rush time. So I came home. I have You know,
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Speaker 7: all my family and friends wanted to see me Christmas Day,
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Speaker 7: and I remember I lasted about an hour in the
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Speaker 7: family activity, you know, gathering before me and my buddy
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Speaker 7: that I had deployed with that I invited to Christmas
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Speaker 7: had to step outside and just get away. And that
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Speaker 7: was the first time I noticed how disconnected I was feeling,
12:48
Speaker 7: and that continued for quite some time until I realized, hey,
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Speaker 7: I'm back here at home. I know I love my
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Speaker 7: family and I want to be with my family and friends,
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Speaker 7: but I just don't feel right. I don't feel like
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Speaker 7: I'm home. Coming home from combat doesn't mean the battle's over.
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Speaker 7: And it took me some time to realize that I
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Speaker 7: was struggling, not only with physical injuries that I incurred overseas,
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Speaker 7: but also with PTSD. And it was you know, through
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Speaker 7: DAV that I first found that connection with other veterans
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Speaker 7: who understood, who had been in, you know, same or
13:35
Speaker 7: similar situation that I could talk to and led me
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Speaker 7: forward to find assistance through the VA and get the
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Speaker 7: help that I needed and then assisted me with my benefits.
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Speaker 7: And not only that, but they also helped My wife
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Speaker 7: as well, you know, they kind of hit the whole
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Speaker 7: family unit. And I said, out of all these organizations
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Speaker 7: that are out there, and I came home like anybody else. I,
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Speaker 7: you know, saw all the organizations that are there and
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Speaker 7: checked them all out and spent some time with them.
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Speaker 7: But DAV, to me, you know, was the best fit
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Speaker 7: because they take care of the veteran and the family
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Speaker 7: and really hit every need, that the veteran could have.
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Speaker 3: Mike, you just told us about your story.
14:26
Speaker 2: Can you tell us a little bit about some of
14:28
Speaker 2: the examples that you've seen in terms of other veterans
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Speaker 2: that have been helped and just kind of the breadth
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Speaker 2: of different areas that your organization can help with?
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Speaker 7: Absolutely. So DAV Massachusetts is different than any other state
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Speaker 7: out there, first of all, where we offer housing options
14:50
Speaker 7: and So we have a unit in central, actually we
14:54
Speaker 7: have three different facilities in central Massachusetts where we house
14:58
Speaker 7: veterans and their families. So we provide the housing assistance,
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Speaker 7: we provide them assistance in gathering what they need to
15:08
Speaker 7: attend college and further their education, employment assistance. We also
15:15
Speaker 7: assist with claims and benefits through the VA. We've helped
15:21
Speaker 7: veterans when it comes time for their children to attend
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Speaker 7: college and gathering those benefits because when you get out
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Speaker 7: of the military, nobody really explains what these benefits are
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Speaker 7: or who is eligible or not or any of those pieces.
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Speaker 7: We kind of fill that void and provide that education
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Speaker 7: to the veterans, but not only provide the education... we
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Speaker 7: hand carry them through it. So it's a very painless
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Speaker 7: process and educate them along the way. We also provide
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Speaker 7: transportation to and from medical appointments and so much more.
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Speaker 7: But if anybody is listening that would like to know
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Speaker 7: more about all of these wonderful services we have and more,
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Speaker 7: they can go to DAVMA.org.
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Speaker 2: In terms of the money that's being raised today, what
16:16
Speaker 2: Why is the money being raised today? Why is that
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Speaker 2: so important? I know that, you know, obviously, look, a
16:20
Speaker 2: big thing that your organization does is just connect people with,
16:23
Speaker 2: you know, other people who have been through similar things.
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Speaker 2: But what does the money go towards in terms of, like,
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Speaker 2: give me specific services that a dollar today can help provide?
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Speaker 7: Great question. So every single service that DAV provides to
16:38
Speaker 7: veterans is provided at no cost. But those services... HAVE
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Speaker 7: A COST BEHIND THEM, WHETHER IT'S PURCHASING A VEHICLE TO
16:48
Speaker 7: TRANSPORT THE VETERANS TO AND FROM THEIR APPOINTMENTS, OFFICE EQUIPMENT
16:53
Speaker 7: TO ASSIST THEM, YOU KNOW, WITH THEIR CLAIMS AND BENEFITS,
16:57
Speaker 7: AND THE STAFFING TO DO SO, ALTHOUGH WE'RE COMPRISED MOSTLY
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Speaker 7: OF VOLUNTEERS, YOU KNOW, ALL OF THE ASSETS AND EQUIPMENT,
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Speaker 7: YOU KNOW, HAVE A TRUE COST TO THEM. SO EVERY
17:11
Speaker 7: DOLLAR DONATED I would say at least 95 cents of
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Speaker 7: that dollar donated is going directly back to servicing veterans
17:22
Speaker 7: through the programs that we facilitate.
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Speaker 3: Fantastic.
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Speaker 2: Well, Mike, we appreciate you joining us today. Thank you
17:29
Speaker 2: for your service and for all the work that you've
17:31
Speaker 2: done with the DAV. I know that it's just such
17:34
Speaker 2: a critically important resource for a lot of veterans that
17:38
Speaker 2: are coming back from a deployment. And we just thank
17:42
Speaker 2: you for all that you've done to help them and
17:45
Speaker 2: as you continue to help them going forward.
17:48
Speaker 7: Absolutely. And thank you for that. But I just want
17:51
Speaker 7: to make a correction. It's not just veterans coming home
17:54
Speaker 7: from deployment, whether you've served active duty or if you
17:58
Speaker 7: were a reservist, National Guard, if you've served your country,
18:04
Speaker 7: for any period of time, you are eligible for benefits.
18:08
Speaker 7: And that's where DAV steps in and helps.
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Speaker 3: Well, thank you.
18:12
Speaker 2: I appreciate the correction as well, just making sure that
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Speaker 2: we get the word out to everyone who's eligible. So
18:18
Speaker 2: thank you again, Mike, and looking forward to talking to
18:21
Speaker 2: you again in the future.
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Speaker 7: Absolutely. Thank you guys again for all you're doing today
18:26
Speaker 7: to assist DAV and the veterans that we serve here
18:29
Speaker 7: in the Commonwealth. Again, if anybody would like more information,
18:33
Speaker 7: please visit DAVMA.org or pick up that phone and call
18:38
Speaker 7: us today.
18:39
Speaker 2: That is Mike Valila, the department adjutant for the DAV
18:44
Speaker 2: Department of Massachusetts. Again, to make a donation to the
18:49
Speaker 2: WRKO DAV Radiothon, number to call is 978-632-1985.
18:52
Speaker 3: Again, that is 978-632-1985. 632-1985.
19:02
Speaker 2: You can also visit dav5k. boston as well. That phone number
19:08
Speaker 2: one more time is 978-632-1985. Let's take a quick break here.
19:17
Speaker 2: And when we return, we will continue with another interview
19:22
Speaker 2: from the DAV. We're going to be joined by Deb
19:25
Speaker 2: Olson right after this.
19:40
Speaker 1: Bringing the latest financial news straight to your radio every day.
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Speaker 1: It's the Financial Exchange on the Financial Exchange Radio Network.
19:50
Speaker 1: Time now for Wall Street Watch. Tracking the stocks, the data,
19:54
Speaker 1: and the headlines driving markets so far today. Right here
19:57
Speaker 1: on the Financial Exchange Radio Network.
19:59
Speaker 4: Well, after yesterday's historic AI routes, markets today are trying
20:04
Speaker 4: to rebound. The Dow is up a tenth of a percent.
20:07
Speaker 4: They're 57 points higher. S & P 500 is up 1%.
20:11
Speaker 4: NASDAQ is up 1.7% or 429 points higher. Russell 2000
20:16
Speaker 4: is up about a third of a percent. 10-year treasury
20:20
Speaker 4: yield is up two basis points at 4.864%. Crude oil
20:24
Speaker 4: is up about a quarter percent at $ 90 a barrel,
20:26
Speaker 4: while Brent is down about half a percent, trading at
20:30
Speaker 4: $ 97 a barrel. Some of yesterday's biggest losers are clawing
20:33
Speaker 4: back losses today. NVIDIA is up by 3%. Intel is
20:36
Speaker 4: up over 6%. AMD is rallying nearly 10%. Micron Technology
20:42
Speaker 4: and SanDisk are all up about 5%. And CoreWeave is
20:46
Speaker 4: up nearly 5% as well. And adding to the busy Friday,
20:50
Speaker 4: investors are digesting a stronger-than-expected October jobs report, where 165,000
20:56
Speaker 4: jobs were added last month, higher than forecasts of 70,000.
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Speaker 4: The unemployment rate also ticked lower to 4.1%. I'm Tucker Sullivan.
21:07
Speaker 4: That is Wall Street Watch.
21:10
Speaker 5: Chuck, the other big story that we haven't gotten to
21:13
Speaker 5: quite yet has to do with Anthropic and what is
21:17
Speaker 5: going to happen with that IPO. I don't even know
21:21
Speaker 5: where to start with this, but I think the best
21:23
Speaker 5: way to describe it is a month ago, they were
21:25
Speaker 5: talking about a $ 2 trillion valuation.
21:27
Speaker 6: A week ago, they were talking about one and a half.
21:30
Speaker 5: And the rumors today is they're talking about one. We'll
21:34
Speaker 5: pick up this conversation in just a minute because joining
21:37
Speaker 5: us now on the line Deborah Olson. She was commander
21:40
Speaker 5: of the Disabled American Veterans Department of Massachusetts from 2019
21:45
Speaker 5: through 2021 and currently serving as the department inspector and
21:49
Speaker 5: as department service officer. Deb, thanks so much for joining us.
21:51
Speaker 5: Appreciate it.
21:53
Speaker 8: Thank you for having me.
21:54
Speaker 5: Um, Deb, before we even get into your work, uh,
21:57
Speaker 5: with the Disabled American Veterans Department of Massachusetts, would you
22:01
Speaker 5: mind talking to us a bit about your military career?
22:03
Speaker 5: You joined the military at a time where a woman
22:07
Speaker 5: serving was, uh, pretty extraordinary so far as I can tell.
22:11
Speaker 5: Would you mind telling us a little bit about it?
22:13
Speaker 8: Okay. Well, I joined the Marine Corps after high school.
22:16
Speaker 8: I was in Junior Reserve Health Training Corps, Marine Corps. Well,
22:22
Speaker 8: I was in high school and decided I want to
22:25
Speaker 8: wear the Marine Corps uniform for real. And I joined
22:28
Speaker 8: the Marine Corps right after high school. And I served
22:32
Speaker 8: two years. I served, I went to basic in Parris Island.
22:37
Speaker 8: SERVED IN ALBAY, GEORGIA, MARINE CORPS LOGISTIC SUPPORT BASE ALBAY, GEORGIA.
22:41
Speaker 8: THAT'S THE SUPPLY BASE FOR THE EAST COAST. AND THEN
22:46
Speaker 8: WENT TO OKINAWA, JAPAN. AND WHILE I WAS IN OKINAWA, JAPAN,
22:52
Speaker 8: THAT SERVED, THAT WAS ALSO SUPPLY, AND THAT SERVED THE
22:56
Speaker 8: PACIFIC AND ALL OF THE MARINE CORPS BASES LOCATIONS IN
23:02
Speaker 8: THE PACIFIC. While I was there, I was assaulted by
23:08
Speaker 8: friendlies in hostile conditions, as I spoke earlier about. And
23:16
Speaker 8: I was married to a Marine before I went to
23:20
Speaker 8: Japan and then came home and spent another couple years
23:28
Speaker 8: in the military or married to a military. So once
23:32
Speaker 8: you're married to them, you're... You're also in it. And
23:36
Speaker 8: I was married to a Marine. And then I came
23:39
Speaker 8: home after our marriage failed. And I came home to
23:44
Speaker 8: Massachusetts with our daughter. And I've been here ever since.
23:49
Speaker 8: So I actually came from Massachusetts, too. So it was
23:53
Speaker 8: time to come home.
23:55
Speaker 5: Could you tell me about that when you came home
23:57
Speaker 5: and how you got involved in the DAV and your
24:00
Speaker 5: connection to it?
24:01
Speaker 8: When I originally first came home, I wanted to join
24:07
Speaker 8: a military branch. I wanted to get back into helping
24:10
Speaker 8: and giving back to veterans. So I went to another
24:13
Speaker 8: organization and was told, oh, you can join our auxiliary.
24:17
Speaker 7: On your own.
24:18
Speaker 8: A husband's DD-214. And I looked at it and said,
24:21
Speaker 8: I have my own, you know? And so I said,
24:26
Speaker 8: you know, get it. I didn't want to mess with
24:29
Speaker 8: that because I'm... And I didn't want to be a
24:32
Speaker 8: member of the auxiliary. I wanted to be a member.
24:34
Speaker 8: I did my time in the service, you know?
24:37
Speaker 2: So I.
24:40
Speaker 8: Waited, and then my upstairs neighbor, right after a department convention...
24:46
Speaker 8: who was a line officer in the chapter that I
24:49
Speaker 8: belonged to, had said, hey, Deb, you can be a
24:53
Speaker 8: DAV member. Why don't you come down to the chapter
24:57
Speaker 8: and get involved? And so I went down to see
25:02
Speaker 8: what was happening down there originally. And literally my third meeting,
25:08
Speaker 8: I became the adjutant. for the chapter. Um, and then, um,
25:14
Speaker 8: a couple of years later, um, I wanted to get
25:16
Speaker 8: more involved. I was still working a full-time job at
25:19
Speaker 8: the time too.
25:20
Speaker 7: Right.
25:21
Speaker 6: And I came.
25:23
Speaker 8: Back and raising a daughter.
25:25
Speaker 6: Yeah.
25:25
Speaker 8: And, uh, came back and he said, we want, um,
25:29
Speaker 8: we need a, a service officer. And I wanted to
25:31
Speaker 8: know what that was that about. So I started in 2003.
25:33
Speaker 8: I became a, um, a certified chapter service officer and
25:41
Speaker 8: have been a service officer since then. So for 23 years,
25:47
Speaker 8: I've been a service officer. Back, I don't know, I
25:51
Speaker 8: can't remember how long ago, I became a department service officer,
25:56
Speaker 8: just additional training. And I actually am a service officer
26:01
Speaker 8: at the JPVA, And I happen to be lucky, our
26:08
Speaker 8: chapter is one of the few chapters actually in the
26:10
Speaker 8: nation that actually owns its own building. And so I
26:14
Speaker 8: have an office in that building that I do service
26:18
Speaker 8: work out of. So that veterans, if they can't come
26:22
Speaker 8: to JP or to West Roxbury, one of the Boston ones,
26:27
Speaker 8: I have an office in Malden. Okay. They can come
26:30
Speaker 8: to the Malden office as I kid people. I said,
26:33
Speaker 8: I'm at JP one day a week. The other seven
26:35
Speaker 8: days a week, I'm at my chapter. So call me,
26:39
Speaker 8: and we'll make an appointment. And whether it be the
26:43
Speaker 8: veteran or the spouse or family, come down. We'll go
26:49
Speaker 8: over what benefits you may be entitled to and how
26:53
Speaker 8: I can assist you in filing for the proper paperwork
26:56
Speaker 8: to get those benefits. and forwarding that to our National
27:01
Speaker 8: Service Office at the JFK building so that there are forms.
27:06
Speaker 8: But then I also let them know what their state
27:08
Speaker 8: benefits might be or other benefits that are.
27:12
Speaker 7: Out there.
27:15
Speaker 8: That they're not aware of. And that's a big thing.
27:18
Speaker 8: You don't know what you don't know. And if we
27:20
Speaker 8: don't tell the veterans, hey, this is what's available. And
27:24
Speaker 8: Massachusetts has a lot of benefits out there for veterans.
27:28
Speaker 8: And whether it goes to school or property abatement, tax
27:34
Speaker 8: abatements or RMV, there is a ton of stuff out there.
27:40
Speaker 8: So if we don't let the veterans know, they don't
27:42
Speaker 8: know they're available. And again, with any government, most governments
27:46
Speaker 8: are use it or lose it type thing. If you're
27:48
Speaker 8: not using it, you're going to lose it. So let
27:51
Speaker 8: people know, yeah.
27:53
Speaker 5: Deb, can you tell me, you know, during your time
27:54
Speaker 5: with the DAV, some of the stories that have really
27:57
Speaker 5: stuck with you over this time and, you know, just
28:00
Speaker 5: why the money we're raising today has such a, just
28:04
Speaker 5: such a concrete impact on the people in our community.
28:07
Speaker 8: Here's one. This is a veteran and his spouse came
28:12
Speaker 8: to me, his wife came to me, and he was
28:16
Speaker 8: a Vietnam vet and was having issues with using his
28:20
Speaker 8: hands and stuff. And so I filed a claim, I
28:25
Speaker 8: filed a claim, but that didn't solve his problem. So
28:30
Speaker 8: I said, okay, the VA has now rated you that
28:33
Speaker 8: you have a disability with your hands and it's service related.
28:36
Speaker 8: So you know that the VA will come into your
28:39
Speaker 8: home and adjust your home for you. And they didn't
28:43
Speaker 8: know that. So we called the VA, made the arrangements
28:46
Speaker 8: for the VA to go in. And they were able,
28:49
Speaker 8: because he couldn't turn a regular doorknob, so they put
28:53
Speaker 8: the lever doorknob on his entire house so that he
28:57
Speaker 8: could use it. They actually went in and redid his bathroom. Now,
29:01
Speaker 8: he couldn't use the bathroom on his own. His hands
29:05
Speaker 8: were so bad, he could not even use the bathroom
29:08
Speaker 8: on his own. His wife had to go in with him.
29:12
Speaker 8: The VA modified his house for him.
29:16
Speaker 7: Right?
29:16
Speaker 8: So he could go in, he could do everything. His
29:20
Speaker 8: wife came back crying, saying, you have no idea what
29:25
Speaker 8: that mentally did for him, that he could just use
29:29
Speaker 8: the bathroom on his own. She was crying because somebody
29:38
Speaker 8: led her to get the proper help her husband needed
29:42
Speaker 8: so that he could live a small amount of.
29:48
Speaker 7: Quality of life.
29:52
Speaker 8: His quality of life changed.
29:55
Speaker 5: Deb, these stories really stick with us and just make
29:58
Speaker 5: us so proud to be able to partner with the
30:00
Speaker 5: DAV of Massachusetts. Thank you for all the service work
30:03
Speaker 5: you do, for all the assistance you provide to the
30:05
Speaker 5: people that come looking for that help and the guidance
30:08
Speaker 5: and the navigation. It's truly tremendous. And the stories that
30:12
Speaker 5: we've heard today just continue to stick with us. Deb Olson, again,
30:17
Speaker 5: joining us today on the line, talking to us about
30:20
Speaker 5: her work for the DAV, National Executive Chair for the DAV,
30:25
Speaker 5: was also a commander for the Department of Massachusetts. And yeah, Debs,
30:30
Speaker 5: thank you so much for joining us. Appreciate it. And
30:32
Speaker 5: for all of your continued work supporting the DAV.
30:35
Speaker 8: Thank you. And everybody here, please remember, reach out. We're
30:40
Speaker 8: here to help you. And please, this is what we're
30:45
Speaker 8: raising money for, so that we can continue to help
30:48
Speaker 8: our brothers and sisters and their families to live high-quality life.
30:53
Speaker 8: And without your help, we're not going to be able
30:56
Speaker 8: to do that. So thank you very much for continuing
30:59
Speaker 8: this program with us.
31:01
Speaker 5: You can make your donation today by calling 978-632-1985. You
31:04
Speaker 5: can also visit dav5k.
31:04
Speaker 6: Boston. But that phone number once again, 978-632-1985.
31:14
Speaker 4: And before we hit the break here, gentlemen, this is
31:19
Speaker 4: the last opportunity for our audience to get involved in
31:22
Speaker 4: this auction, this tremendous auction for a six-course dinner for
31:26
Speaker 4: eight from Chef Paul Wahlberg at Paul's Restaurant Almanove in Hingham,
31:31
Speaker 4: right in the Hingham Shipyard there. Tremendous restaurant. It's for
31:34
Speaker 4: you and seven of your closest friends and family. It
31:37
Speaker 4: includes food, drinks, everything. And the current bid for that
31:41
Speaker 4: is $ 8, 000. This is the last few minutes you can
31:45
Speaker 4: get in on that auction. In order to increase that bid,
31:48
Speaker 4: all you have to do is call that same number
31:50
Speaker 4: that you have been calling to donate. It's 978-632-1985 to
31:56
Speaker 4: increase the bid for that auction for Almanove in Hingham.
31:59
Speaker 4: Once again, the number is 978-632-1985. 1985. And we're going
32:04
Speaker 4: to announce the winner of that auction right before the
32:08
Speaker 4: end of the show here.
32:10
Speaker 6: Quick break. When we come back, Stack Roulette is next.
32:29
Speaker 1: Ladies and gentlemen, The Weeknd.
32:54
Speaker 2: Mike, let's do a little bit of stack roulette here.
32:56
Speaker 2: A reminder, we're still participating in WRKO's DAV 5K. To donate,
33:02
Speaker 2: call 978-632-1985 or visit dav5k.
33:05
Speaker 3: Boston.
33:07
Speaker 4: By the way, over $ 35, 000 raised so far for the
33:11
Speaker 4: RKO Radiophone here.
33:12
Speaker 2: Yeah, we're cooking now. Mike, I've got two items. I'll
33:15
Speaker 2: be quick on it. Okay, I guess that's a yes.
33:20
Speaker 2: Was I expected to agree?
33:22
Speaker 8: Yes.
33:22
Speaker 3: I don't control your mic. This isn't quick.
33:25
Speaker 6: Come on.
33:25
Speaker 2: Number one, headline from CNBC, OpenAI will keep investing in
33:29
Speaker 2: AI data centers despite election results.
33:31
Speaker 3: Well, yeah, of course they will. What else is their business?
33:33
Speaker 6: You have no other choice.
33:34
Speaker 3: Right. Thanks for telling us, CFO. I appreciate the clarity
33:38
Speaker 3: on that.
33:38
Speaker 6: We're switching to hamburgers and hot dogs.
33:39
Speaker 3: Yeah, we're going to start doing milk. Plant-based meat.
33:42
Speaker 6: Yeah.
33:45
Speaker 2: Yeah, we're now open meat. We'll see how that works. Next,
33:49
Speaker 2: Wall Street Journal. Tesla's polarizing Cybertruck to wind down production
33:53
Speaker 2: amid slow sales. Turns out they sold, it looks like,
33:56
Speaker 2: about 70,000 of these total, despite having over a million
34:00
Speaker 2: pre-orders originally, according to Elon Musk. And so the Cybertruck
34:05
Speaker 2: is only going to be in production for about two
34:06
Speaker 2: and a half years, and then they're going to wind
34:09
Speaker 2: this puppy down.
34:10
Speaker 5: My kids are going to be devastated. They get so
34:12
Speaker 5: fascinated every time they see one. I hate the thing,
34:15
Speaker 5: but they're like.
34:16
Speaker 3: I want one of those.
34:17
Speaker 2: And any time my daughters see it, they're like, that's
34:19
Speaker 2: a cool car. That's exactly my kid's reaction. It was
34:23
Speaker 2: just two decades too soon, Chuck.
34:25
Speaker 3: It might be.
34:26
Speaker 2: So, yeah, this one not lasting very long. Clearly lost
34:30
Speaker 2: Tesla a whole bunch of money that would have otherwise
34:33
Speaker 2: ended up as profit. But now we know that Americans
34:37
Speaker 2: won't buy trapezoidal trucks.
34:39
Speaker 5: Didn't he shoot a bow and arrow or a crossbow
34:41
Speaker 5: at it or something? I can't remember at this point.
34:44
Speaker 5: There are a lot of funny different activities that he
34:46
Speaker 5: did with that Cybertruck. As we were talking about before,
34:49
Speaker 5: Anthropic plans to go public, wants to go public, filed
34:53
Speaker 5: their S-1 a couple of weeks ago. They really need
34:57
Speaker 5: to pull it off here in the next couple of days.
34:59
Speaker 5: This time period would generally be when you're going out
35:02
Speaker 5: there and doing your roadshow, trying to hype up the stock,
35:05
Speaker 5: talk to potential investors. Wall Street Journal reported this morning
35:09
Speaker 5: that those investors who just a few weeks ago were
35:15
Speaker 5: rumored to be valuing this thing at $ 2 trillion, are
35:18
Speaker 5: now talking about $ 1 to $ 1. 2 is the rumor mill now,
35:23
Speaker 5: or maybe $ 1. 2 to $ 1. 3 trillion. Pretty seismic moves here,
35:29
Speaker 5: and I think leads to very serious questions as to
35:32
Speaker 5: whether or not this is getting off the ground.
35:35
Speaker 6: So there's that.
35:36
Speaker 2: Airbnb, I want to talk about them. They reported earnings
35:41
Speaker 2: this quarter, 19 percent revenue jump. This despite Airbnb hosts
35:46
Speaker 2: being kind of in a tizzy based on some of
35:49
Speaker 2: the changes that have been made to hosting in the
35:52
Speaker 2: last month or so. Mike, have you followed what's going
35:55
Speaker 2: on there?
35:55
Speaker 6: Yeah, there's a few. One, it's about which seemed very
35:59
Speaker 6: reasonable to me. Like, hey, you can't.
36:02
Speaker 5: Create this long task list that everybody needs to complete
36:04
Speaker 5: before they check out.
36:05
Speaker 2: Yeah you can't make like guests like you know do
36:08
Speaker 2: like 84 things like oh you gotta mop this floor
36:11
Speaker 2: with this product and then turn the lights off this
36:15
Speaker 2: order like.
36:16
Speaker 5: Yeah so that part's out um they also made some
36:20
Speaker 5: changes which i think are benefiting them but hosts were
36:22
Speaker 5: annoyed about they they uh got rid of any of
36:25
Speaker 5: the booking fees for the booker and just put it
36:28
Speaker 5: all on the owner of the property. So that's now
36:31
Speaker 5: a combined larger fee to them, but obviously you just
36:35
Speaker 5: up your rates and take care of that. But yeah,
36:38
Speaker 5: I think Airbnb had been struggling over the last few, frankly,
36:41
Speaker 5: it was just supply and demand. I think a bunch
36:43
Speaker 5: of people bought homes, decided they were going to rent
36:45
Speaker 5: them out on Airbnb and suddenly realized that when everybody
36:49
Speaker 5: does that, there is not as much a market for
36:51
Speaker 5: homes on Airbnb.com. Plus, a bunch of communities had pretty
36:54
Speaker 5: big backlash against it. You can't get an Airbnb, so
36:57
Speaker 5: far as I'm aware, in the city of New York
36:59
Speaker 5: or Boston or several other cities across the country that
37:02
Speaker 5: have really cracked down on them.
37:04
Speaker 3: So, yeah.
37:05
Speaker 2: So Airbnb, again, 19% revenue jump. And the stock up
37:08
Speaker 2: 11% today. And by the way, the stock was not
37:12
Speaker 2: down like 20% yesterday. So this is not just like
37:14
Speaker 2: a bounce back from yesterday. The stock lost about 4%
37:18
Speaker 2: yesterday and up 11% today, so net 7% up the
37:21
Speaker 2: last two days in this environment.
37:23
Speaker 3: Tells you that investors like what happened here.
37:26
Speaker 6: Haven't done an Airbnb in a while.
37:27
Speaker 4: Hey, before we wrap the show here, guys, we do
37:30
Speaker 4: want to announce the winner of the Almanove auction for
37:34
Speaker 4: the DAV Radiothon here. It's going to be Paul Rizzo
37:39
Speaker 4: from Boston. $ 8, 000, the winner of the auction there. Thank
37:44
Speaker 4: you very much, Paul, for his generosity there, and yeah,
37:49
Speaker 4: what a great cause here.
37:50
Speaker 2: Again, if you want to donate to the DAV, Disabled
37:53
Speaker 2: American Veterans Department of Massachusetts, 978-632-1985. Tucker said we've raised
37:57
Speaker 2: over $ 35, 000 so far today. Let's keep that number going up. Again,
37:59
Speaker 2: 978-632-1985 or go to dav5k.
37:59
Speaker 3: Boston.
38:11
Speaker 2: We're done for the day, done for the week. I
38:14
Speaker 2: will be at the DAV 5K tomorrow. To anyone who participates,
38:18
Speaker 2: come by, say hi, and have a great time. And
38:21
Speaker 2: we'll see you all on Monday.