>>> IN TODAY’S MONEY, POWER,
>>> IN TODAY’S MONEY, POWER, POLITIC, ARE WE SUBSIDIZING
POLITIC, ARE WE SUBSIDIZING LOW-WAGE EMPLOYEES FOR COMPANIES
LOW-WAGE EMPLOYEES FOR COMPANIES WITH RECORD PROFITS?
WITH RECORD PROFITS? A COMPREHENSIVE REPORT FROM UC
A COMPREHENSIVE REPORT FROM UC BERKELEY
BERKELEY BERKELEY’S LABOR CENTER FOR
BERKELEY’S LABOR CENTER FOR WORKING FAMILIES WHO RELY ON
WORKING FAMILIES WHO RELY ON PUBLIC ASSISTANT LIKE MEDICAID
PUBLIC ASSISTANT LIKE MEDICAID AND CHIP.
AND CHIP. THE BASIC HOUSEHOLD INCOME
THE BASIC HOUSEHOLD INCOME ASSISTANCE PROGRAM, TEMPORARY
ASSISTANCE PROGRAM, TEMPORARY AID TO NEEDY FAMILIES AND SUB
AID TO NEEDY FAMILIES AND SUB SUPPLEMENTAL NUTRITIOUS PROGRAM
SUPPLEMENTAL NUTRITIOUS PROGRAM OR SNAP.
OR SNAP. THAT’S ABOUT 153 BILLION BUCKS
THAT’S ABOUT 153 BILLION BUCKS EVERY YEAR.
EVERY YEAR. THE NEW FOOD ECONOMY EXAMINED
THE NEW FOOD ECONOMY EXAMINED THIS PROBLEM.
THIS PROBLEM. FOCUSING SPECIFICALLY ON AMAZON
FOCUSING SPECIFICALLY ON AMAZON EMPLOYEES USING SNAP FOOD
EMPLOYEES USING SNAP FOOD BENEFITS.
BENEFITS. IN THE STATE OF ARIZONA, PLEASE
IN THE STATE OF ARIZONA, PLEASE LISTEN TO THIS, ONE IN EVERY
LISTEN TO THIS, ONE IN EVERY THREE OF AMAZON’S EMPLOYEES
THREE OF AMAZON’S EMPLOYEES DEPEND ON SNAP TO PUT FOOD ON
DEPEND ON SNAP TO PUT FOOD ON THEIR FAMILY’S TABLE.
THEIR FAMILY’S TABLE. IN PENNSYLVANIA AND OHIO THE
IN PENNSYLVANIA AND OHIO THE FIGURE APPEARS TO BE ABOUT ONE
FIGURE APPEARS TO BE ABOUT ONE IN TEN.
IN TEN. THE PRESIDENT FOR HIS PART
THE PRESIDENT FOR HIS PART CONSISTENTLY PICKS FIGHTS WITH
CONSISTENTLY PICKS FIGHTS WITH AMAZON ABOUT THEIR USE OF U.S.
AMAZON ABOUT THEIR USE OF U.S. POSTAL SERVICE FOR DELIVERIES
POSTAL SERVICE FOR DELIVERIES AND THEIR DOMINANCE IN THE
AND THEIR DOMINANCE IN THE RETAIL MARKET.
RETAIL MARKET. EVEN JEFF BEZOS OWNING "THE
EVEN JEFF BEZOS OWNING "THE WASHINGTON POST."
WASHINGTON POST." HERE’S WHAT MAKES SENSE.
HERE’S WHAT MAKES SENSE. NONE OF THOSE TOUCH THE
NONE OF THOSE TOUCH THE LEGITIMATE CRITICISMS OF AMAZON.
LEGITIMATE CRITICISMS OF AMAZON. YOU WANT TO CRITICIZE AMAZON?
YOU WANT TO CRITICIZE AMAZON? I’M GOING TO HELP YOU DO THAT
I’M GOING TO HELP YOU DO THAT RIGHT NOW.
RIGHT NOW. BHAT PRESIDENT IS GOING AFTER IS
BHAT PRESIDENT IS GOING AFTER IS NONSENSE.
NONSENSE. WHEN JOBS DO NOT PAY ENOUGH,
WHEN JOBS DO NOT PAY ENOUGH, WORKERS TURN TO PUBLIC
WORKERS TURN TO PUBLIC ASSISTANCE IN ORDER TO MEET
ASSISTANCE IN ORDER TO MEET THEIR BASIC NEEDS AND THAT
THEIR BASIC NEEDS AND THAT BURDEN IS FALLING ON TAXPAYERS.
BURDEN IS FALLING ON TAXPAYERS. WHEN THE HEAD OF THAT COMPANY
WHEN THE HEAD OF THAT COMPANY PAY LOW WAGES HAPPENS TO BE THE
PAY LOW WAGES HAPPENS TO BE THE RICHEST MAN IN MODERN HISTORY.
RICHEST MAN IN MODERN HISTORY. LET ME REMIND YOU, JEFF BEZOS ON
LET ME REMIND YOU, JEFF BEZOS ON AMAZON PRIME DAY BECOME WORTH
AMAZON PRIME DAY BECOME WORTH $150 BILLION.
$150 BILLION. WHEN HE’S WORTH THAT MUCH MONEY,
WHEN HE’S WORTH THAT MUCH MONEY, YOU BEGIN TO START ASKING THE
YOU BEGIN TO START ASKING THE QUESTION ARE COMPANIES LIKE THIS
QUESTION ARE COMPANIES LIKE THIS WHO ARE PAYING THEIR EMPLOYEES
WHO ARE PAYING THEIR EMPLOYEES SO LITTLE GAMING THE SYSTEM?
SO LITTLE GAMING THE SYSTEM? JOINING ME NOW, MY DEAR FRIEND
JOINING ME NOW, MY DEAR FRIEND SCOTT GALLOWAY WHO’S A PROFESSOR
SCOTT GALLOWAY WHO’S A PROFESSOR AT THE NYU STERN SCHOOL OF
AT THE NYU STERN SCHOOL OF BUSINESS AND THE AUTHOR OF "THE
BUSINESS AND THE AUTHOR OF "THE FOUR, THE HIDDEN DNA OF AMAZON,
FOUR, THE HIDDEN DNA OF AMAZON, FACEBOOK AND GOOGLE."
FACEBOOK AND GOOGLE." WE DON’T HAVE A JOBS PROBLEM IN
WE DON’T HAVE A JOBS PROBLEM IN THIS COUNTRY.
THIS COUNTRY. WE HAVE LOADS OF JOBS.
WE HAVE LOADS OF JOBS. WE HAVE A WAGE PROBLEM.
WE HAVE A WAGE PROBLEM. HOW ARE WE GOING TO FIX THIS?
HOW ARE WE GOING TO FIX THIS? IF AMAZON, THEORETICALLY ONE OF
IF AMAZON, THEORETICALLY ONE OF THE MOST SUCCESSFUL COMPANIES ON
THE MOST SUCCESSFUL COMPANIES ON THE PLANET, RICHEST GUY IN THE
THE PLANET, RICHEST GUY IN THE WORLD, AND HE’S GOT EMPLOYEES ON
WORLD, AND HE’S GOT EMPLOYEES ON FOOD SNAPS.
FOOD SNAPS. >> YOU’RE RIGHT, IT’S NEVER BEEN
>> YOU’RE RIGHT, IT’S NEVER BEEN EASIER TO GET A JOB BUT IT’S
EASIER TO GET A JOB BUT IT’S NEVER BEEN HARDER TO GET A WELL
NEVER BEEN HARDER TO GET A WELL PAYING JOB.
PAYING JOB. WE HAVE AN ECONOMY THAT’S
WE HAVE AN ECONOMY THAT’S BIFURCATING INTO WHAT COULD
BIFURCATING INTO WHAT COULD LOOSELY BE DESCRIBED AS 350
LOOSELY BE DESCRIBED AS 350 MILLION SERFS SERVING 3 MILLION
MILLION SERFS SERVING 3 MILLION LORDS.
LORDS. AMAZON, BY THE WAY, THOSE ARE
AMAZON, BY THE WAY, THOSE ARE OUTSTANDING JOBS.
OUTSTANDING JOBS. THEY’RE HIGH PAYING.
THEY’RE HIGH PAYING. THEY INCLUDE EQUITY.
THEY INCLUDE EQUITY. ANYBODY WHO HAS EQUITY AS PART
ANYBODY WHO HAS EQUITY AS PART OF THEIR COMPENSATION, THERE’S
OF THEIR COMPENSATION, THERE’S PROBABLY BEEN A GREATER 50%
PROBABLY BEEN A GREATER 50% LIKELIHOOD THAT THEY’RE
LIKELIHOOD THAT THEY’RE MILLIONAIRES.
MILLIONAIRES. THE INDIVIDUALS, THE WORKERS IN
THE INDIVIDUALS, THE WORKERS IN THE FACTORY WHERE QUITE FRANKLY
THE FACTORY WHERE QUITE FRANKLY SUPPLY AND DEMAND HAS BEEN THE
SUPPLY AND DEMAND HAS BEEN THE REASON WHY THESE PEOPLE ARE PAID
REASON WHY THESE PEOPLE ARE PAID LESS AND LESS, YOU KNOW, THEY’RE
LESS AND LESS, YOU KNOW, THEY’RE NOT MAKING A LIVING WAGE.
NOT MAKING A LIVING WAGE. I DON’T THINK AMAZON IS ANY MORE
I DON’T THINK AMAZON IS ANY MORE GUILTY.
GUILTY. WHAT WE’RE GUILTY OF IS CREATING
WHAT WE’RE GUILTY OF IS CREATING A GESTALT AMONG CEOs WHERE THEY
A GESTALT AMONG CEOs WHERE THEY SEE THEIR ONLY INTERSECTIONALITY
SEE THEIR ONLY INTERSECTIONALITY AS SHAREHOLDERS.
AS SHAREHOLDERS. >> WE’VE LISTENED TO EARNINGS
>> WE’VE LISTENED TO EARNINGS CALLS.
CALLS. WHAT A CEO IS RESPONSIBLE FOR OR
WHAT A CEO IS RESPONSIBLE FOR OR WHAT THEY CARE ABOUT, IT’S
WHAT THEY CARE ABOUT, IT’S SHAREHOLDERS AND THEIR
SHAREHOLDERS AND THEIR CUSTOMERS.
CUSTOMERS. THEY ARE NEVER ASKED ABOUT AND
THEY ARE NEVER ASKED ABOUT AND IT’S NOT MADE A PRIORITY TO HELP
IT’S NOT MADE A PRIORITY TO HELP THOSE LOW-WAGE EMPLOYEES.
THOSE LOW-WAGE EMPLOYEES. THEY’LL JUST FIND OTHER ONES.
THEY’LL JUST FIND OTHER ONES. THEY DON’T HAVE ANY LEVERAGE.
THEY DON’T HAVE ANY LEVERAGE. BUT AT SOME POINT, IS THERE --
BUT AT SOME POINT, IS THERE -- AND I’M NOT CALLING FOR
AND I’M NOT CALLING FOR REGULATION, BUT IS THE
REGULATION, BUT IS THE REGULATORY ACTION WE NEED?
REGULATORY ACTION WE NEED? IS THERE A MORAL OBLIGATION?
IS THERE A MORAL OBLIGATION? IF YOUR COMPANY IS THAT RICH,
IF YOUR COMPANY IS THAT RICH, WHY WOULDN’T YOU PAY YOUR
WHY WOULDN’T YOU PAY YOUR EMPLOYEES MORE?
EMPLOYEES MORE? >> WE’VE LET MINIMUM WAGE
>> WE’VE LET MINIMUM WAGE UNDERPACE INFLATION FOR 30
UNDERPACE INFLATION FOR 30 YEARS.
YEARS. UNION MEMBERSHIP HAS BEEN CUT IN
UNION MEMBERSHIP HAS BEEN CUT IN HALF.
HALF. UBER IS WORTH $80 BILLION.
UBER IS WORTH $80 BILLION. APPROACHING THE VALUE OF AIR
APPROACHING THE VALUE OF AIR BUS.
BUS. THEY HAVE 12,000 EMPLOYEES.
THEY HAVE 12,000 EMPLOYEES. THEY HAVE 2.5 MILLION DRIVER
THEY HAVE 2.5 MILLION DRIVER PARTNERS.
PARTNERS. PEOPLE NOT PROTECTED BY MINIMUM
PEOPLE NOT PROTECTED BY MINIMUM WAGE LAWS, DON’T HAVE HEALTH
WAGE LAWS, DON’T HAVE HEALTH INSURANCE AND DON’T PARTICIPATE
INSURANCE AND DON’T PARTICIPATE IN THE $80 BILLION EQUITY VALUE.
IN THE $80 BILLION EQUITY VALUE. SO WE HAVE -- CORPORATE AMERICA
SO WE HAVE -- CORPORATE AMERICA HAS FIGURED OUT A RATIONALE AND
HAS FIGURED OUT A RATIONALE AND REASON TO CREATE A TWO CLASS
REASON TO CREATE A TWO CLASS SYSTEM.
SYSTEM. YOU HAVE INFORMATION AGE
YOU HAVE INFORMATION AGE WORKERS.
WORKERS. THERE’S A WAR ON TALENT.
THERE’S A WAR ON TALENT. THERE’S NEVER BEEN A BETTER TIME
THERE’S NEVER BEEN A BETTER TIME TO COME OUT OF M.I.T. BUT
TO COME OUT OF M.I.T. BUT THERE’S NEVER BEEN A WORSE TIME
THERE’S NEVER BEEN A WORSE TIME TO NOT HAVE A COLLEGE DEGREE AND
TO NOT HAVE A COLLEGE DEGREE AND BE WORKING IN A FACTORY.
BE WORKING IN A FACTORY. THIS BRINGS UP A LARGER ISSUE.
THIS BRINGS UP A LARGER ISSUE. NOT FOR AMAZON.
NOT FOR AMAZON. AND THAT IS THERE’S ALWAYS A
AND THAT IS THERE’S ALWAYS A TENSION BETWEEN CAPITAL AND
TENSION BETWEEN CAPITAL AND LABOR.
LABOR. OVER THE LAST 30 YEARS, CAPITAL
OVER THE LAST 30 YEARS, CAPITAL HAS BEEN KICKING THE CRAP OUT OF
HAS BEEN KICKING THE CRAP OUT OF LABOR AND IT’S BAD FOR THE
LABOR AND IT’S BAD FOR THE ECONOMY.
ECONOMY. THE GREATEST SOURCE OF GOOD AND
THE GREATEST SOURCE OF GOOD AND ECONOMIC GROWTH IN THE HISTORY
ECONOMIC GROWTH IN THE HISTORY OF MODERN MAN HAS BEEN THE
OF MODERN MAN HAS BEEN THE AMERICAN MIDDLE CLASS AND IT’S
AMERICAN MIDDLE CLASS AND IT’S BEEN PUNCHED IN THE GUT
BEEN PUNCHED IN THE GUT REPEATEDLY.
REPEATEDLY. >> WHAT DO WE DO ABOUT IT?
>> WHAT DO WE DO ABOUT IT? IF THE PRESIDENT WANTS TO CALL
IF THE PRESIDENT WANTS TO CALL OUT JEFF BEZOS, HE CAN CALL HIM
OUT JEFF BEZOS, HE CAN CALL HIM OUT ABOUT THIS.
OUT ABOUT THIS. THEY HAVE RECEIVED BILLIONS IN
THEY HAVE RECEIVED BILLIONS IN TAX INCENTIVES.
TAX INCENTIVES. THINK ABOUT THE AMOUNT OF
THINK ABOUT THE AMOUNT OF INFORMATION THEY GOT FROM ALL OF
INFORMATION THEY GOT FROM ALL OF THOSE CITIES WHO ARE VYING TO
THOSE CITIES WHO ARE VYING TO HAVE THE NEXT HEADQUARTERS IN
HAVE THE NEXT HEADQUARTERS IN THEIR LOCATION.
THEIR LOCATION. WHO’S GOING TO CALL HIM OUT?
WHO’S GOING TO CALL HIM OUT? WHERE IS HE GOING TO BE FORCED
WHERE IS HE GOING TO BE FORCED TO DO SOMETHING?
TO DO SOMETHING? OR SHOULD HE BE FORCED?
OR SHOULD HE BE FORCED? >> YOU’D LIKE TO THINK THE
>> YOU’D LIKE TO THINK THE WEALTHIEST MAN IN THE WORLD
WEALTHIEST MAN IN THE WORLD WOULD HAVE MORE CONCERN TO THE
WOULD HAVE MORE CONCERN TO THE COMMONWEALTH.
COMMONWEALTH. WOULDN’T GO HAT IN HAND TO
WOULDN’T GO HAT IN HAND TO MUNICIPALITIES ASKING FOR A TAX
MUNICIPALITIES ASKING FOR A TAX BREAK WHEN HE OR SHE HAS MORE
BREAK WHEN HE OR SHE HAS MORE WEALTH THAN THE MUNICIPAL BUDGET
WEALTH THAN THE MUNICIPAL BUDGET OF THE STATES --
OF THE STATES -- >> HE WOULD SAY IT’S HIS FEW
>> HE WOULD SAY IT’S HIS FEW FIDUCIARY RESPONSIBILITY.
FIDUCIARY RESPONSIBILITY. WHEN ARE WE GOING TO PUT THE
WHEN ARE WE GOING TO PUT THE MORAL OBLIGATION ON ANY PLANE
MORAL OBLIGATION ON ANY PLANE OUT THERE?
OUT THERE? IT CAN’T JUST BE, WE’VE GOT A
IT CAN’T JUST BE, WE’VE GOT A GREAT PHILANTHROPY OFFICE.
GREAT PHILANTHROPY OFFICE. >> IT WOULD BE ELECTING
>> IT WOULD BE ELECTING OFFICIALS THAT ENFORCE OR
OFFICIALS THAT ENFORCE OR INCREASE MINIMUM WAGE.
INCREASE MINIMUM WAGE. INCREASE MINIMUM WAGE TO $15.
INCREASE MINIMUM WAGE TO $15. YOU KNOW, PART OF THE
YOU KNOW, PART OF THE AMERICAN --
AMERICAN -- >> NO COMPANY’S GOING TO DO IT
>> NO COMPANY’S GOING TO DO IT UNLESS THEY’RE FORCED TO BY THE
UNLESS THEY’RE FORCED TO BY THE GOVERNMENT.
GOVERNMENT. >> I THINK AT THE END OF THE
>> I THINK AT THE END OF THE DAY, PEOPLE WILL ALWAYS FIND A
DAY, PEOPLE WILL ALWAYS FIND A REASON TO INCREASE EARNINGS PER
REASON TO INCREASE EARNINGS PER SHARE BECAUSE THAT’S WHERE THEY
SHARE BECAUSE THAT’S WHERE THEY GET THEIR COMPENSATION.
GET THEIR COMPENSATION. COMPENSATION DRIVES BEHAVIOR.
COMPENSATION DRIVES BEHAVIOR. FACEBOOK, I MEAN, WE’RE TALKING
FACEBOOK, I MEAN, WE’RE TALKING ABOUT TECH, FACEBOOK IS FINDING
ABOUT TECH, FACEBOOK IS FINDING A REASON NOT TO SHUT DOWN
A REASON NOT TO SHUT DOWN TEMPORARILY THE WHAT’S UP
TEMPORARILY THE WHAT’S UP APPLICATION IN INDIA EVEN THOUGH
APPLICATION IN INDIA EVEN THOUGH PEOPLE ARE BEING DRAGGED OUT OF
PEOPLE ARE BEING DRAGGED OUT OF CARS AND LYNCHED LITERALLY
CARS AND LYNCHED LITERALLY BECAUSE OF WHAT’S SPREAD ON THE
BECAUSE OF WHAT’S SPREAD ON THE PLATFORM.
PLATFORM. COMPANIES WILL ALWAYS FIND A WAY
COMPANIES WILL ALWAYS FIND A WAY TO NOT LINK THE DOTS BETWEEN
TO NOT LINK THE DOTS BETWEEN WHAT IS RICE NECESSARILY AND BE
WHAT IS RICE NECESSARILY AND BE DOING WHAT IS RIGHT FOR THEIR
DOING WHAT IS RIGHT FOR THEIR EMPLOYEES.
EMPLOYEES. THE INFORMATION AGE EMPLOYEES
THE INFORMATION AGE EMPLOYEES ARE FINE BECAUSE THEY HAVE
ARE FINE BECAUSE THEY HAVE LEVERAGE BECAUSE THERE’S A WAR
LEVERAGE BECAUSE THERE’S A WAR ON TALENT.
ON TALENT. BUT UNTIL WE HAVE STRONGER
BUT UNTIL WE HAVE STRONGER FEDERAL MINIMUM WAGE LAWS.
FEDERAL MINIMUM WAGE LAWS. IF WE ELECT PEOPLE THAT SEE THE
IF WE ELECT PEOPLE THAT SEE THE VALUE IN DIGNITY IN WORK.
VALUE IN DIGNITY IN WORK. THE AMERICAN EXPERIENCE IS ABOUT
THE AMERICAN EXPERIENCE IS ABOUT FREEDOM, LIBERTY.
FREEDOM, LIBERTY. IT’S ALSO, STEPHANIE, IT’S ALSO
IT’S ALSO, STEPHANIE, IT’S ALSO ABOUT DIGNITY AND WORK.
ABOUT DIGNITY AND WORK. WE ARE GENEROUS PEOPLE.
WE ARE GENEROUS PEOPLE. YOU KNOW WHAT ELSE WE DO?
YOU KNOW WHAT ELSE WE DO? WE WORK.
WE WORK. AND WHEN PEOPLE WORK, THEY NEED
AND WHEN PEOPLE WORK, THEY NEED TO MAKE A FAIR WAGE.
TO MAKE A FAIR WAGE. >> RIGHT NOW, THIS IS BEING PUT
>> RIGHT NOW, THIS IS BEING PUT IN TWO CATEGORIES.
IN TWO CATEGORIES. PEOPLE SAY YOU’RE EITHER A
PEOPLE SAY YOU’RE EITHER A CAPITALIZE OR A SOCIALIST.
CAPITALIZE OR A SOCIALIST. THERE’S SUCH A THING AS
THERE’S SUCH A THING AS CONSCIOUS CAPITALISM.
CONSCIOUS CAPITALISM. LEADERS RUNNING COMPANIES LIKE
LEADERS RUNNING COMPANIES LIKE SALES FORCE THAT KILL IT.
SALES FORCE THAT KILL IT. >> WELL, IF YOU WANT -- SO THIS
>> WELL, IF YOU WANT -- SO THIS NOTION OF CONSCIOUS CAPITALISM.
NOTION OF CONSCIOUS CAPITALISM. WE’VE LOST THE SCRIPT AROUND
WE’VE LOST THE SCRIPT AROUND THAT THIS WE’VE DECIDED, AGAIN,
THAT THIS WE’VE DECIDED, AGAIN, THAT’S WHAT’S GOOD FOR THE
THAT’S WHAT’S GOOD FOR THE CONSUMER AND GOOD FOR THE SHARE
CONSUMER AND GOOD FOR THE SHARE SHOULD
SHOULD HOLDER IS THIS.
HOLDER IS THIS. WE HAVE OPTED TO TREAT THE
WE HAVE OPTED TO TREAT THE CONSUMERS LIKE ROYALTY.
CONSUMERS LIKE ROYALTY. TO TREAT SHAREHOLDERS LIKE KINGS
TO TREAT SHAREHOLDERS LIKE KINGS AND QUEENS.
AND QUEENS. AND THE SERFS ARE THE WORKERS.
AND THE SERFS ARE THE WORKERS. WE HAVE DEPRIORITIZED WORK.
WE HAVE DEPRIORITIZED WORK. BECAUSE ORGANIZATIONS LIKE THIS,
BECAUSE ORGANIZATIONS LIKE THIS, ORGANIZATIONS LIKE "THE WALL
ORGANIZATIONS LIKE "THE WALL STREET JOURNAL," ORGANIZATIONS
STREET JOURNAL," ORGANIZATIONS LIKE CNBC, WILL TALK ALL DAY
LIKE CNBC, WILL TALK ALL DAY ABOUT THE HIGHLY PUBLICIZED
ABOUT THE HIGHLY PUBLICIZED EXAMPLES OF A KID COMING OUT OF
EXAMPLES OF A KID COMING OUT OF HARVARD OR NOT COMING OUT OF
HARVARD OR NOT COMING OUT OF HARVARD THAT MAKES BILLIONS OF
HARVARD THAT MAKES BILLIONS OF DOLLARS.
DOLLARS. EVERYONE THINKS THE ECONOMY IS
EVERYONE THINKS THE ECONOMY IS WORKING.
WORKING. THE ECONOMY ISN’T WORKING.
THE ECONOMY ISN’T WORKING. THERE ARE 24,000 PEOPLE AT
THERE ARE 24,000 PEOPLE AT FACEBOOK.
FACEBOOK. THE MARKET CAP OF $600 BILLION.
THE MARKET CAP OF $600 BILLION. A QUARTER OF A MILLION EMPLOYEES
A QUARTER OF A MILLION EMPLOYEES WITH AUTO COMPANIES WITH $50
WITH AUTO COMPANIES WITH $50 BILLION IN MARKET CAP.
BILLION IN MARKET CAP. WE HAVE LITERALLY RESHAPED THE
WE HAVE LITERALLY RESHAPED THE ECONOMY TO SERVE A SMALL NUMBER
ECONOMY TO SERVE A SMALL NUMBER OF VERY TALENTED AND VERY LUCKY
OF VERY TALENTED AND VERY LUCKY PEOPLE.
PEOPLE. IT’S A LOTTERY ECONOMY.
IT’S A LOTTERY ECONOMY. YOU KNOW WHO’S FAULT IT IS?
YOU KNOW WHO’S FAULT IT IS? IT’S OUR FAULT.
IT’S OUR FAULT. WE’RE ELECTING PEOPLE THAT WILL
WE’RE ELECTING PEOPLE THAT WILL NOT RAISE MINIMUM WAGE AND HAVE
NOT RAISE MINIMUM WAGE AND HAVE DECIDED TO DEPRIORITIZE WORKERS
DECIDED TO DEPRIORITIZE WORKERS IN THE UNITED STATES.
IN THE UNITED STATES. >> THE ECONOMY IS WORKING BUT
>> THE ECONOMY IS WORKING BUT NOT FOR EVERYONE.
NOT FOR EVERYONE. REMEMBER, YOU DON’T WANT TO
REMEMBER, YOU DON’T WANT TO RAISE MINIMUM WAGE.
RAISE MINIMUM WAGE. YOU’RE GOING TO PAY FOR THOSE
YOU’RE GOING TO PAY FOR THOSE PEOPLE ONE WAY OR ANOTHER.
PEOPLE ONE WAY OR ANOTHER. THEY WILL NEED TO BE ON FEDERAL
THEY WILL NEED TO BE ON FEDERAL ASSISTANCE.
ASSISTANCE. I CELEBRATE YOUR
I CELEBRATE YOUR ENTREPRENEURSHIP.
ENTREPRENEURSHIP. I CELEBRATE WHAT AN
I CELEBRATE WHAT AN EXTRAORDINARY BUSINESS LEADER
