DailyKenn.com — transcript (edited)
And they lived happily ever after. That's the ending of virtually every fairy tale you ever heard when you were a kid, right? Well, what about Disney? This is the king of fairy tales. It turns out that Disney is now in its ever-after stage and it's not a happy thing.
How do we know that? We know this because Elon Musk, who is the CEO of Tesla, has called for Disney's CEO's immediate firing. He said that CEO Bob Iger needs to be, quote, fired immediately because there are some serious problems inside Disney. And, you know, these guys look at this thing from an economic perspective, not necessarily ideologically.
And then this comes from the state treasurer of South Carolina, Curtis Loftus. He said that the state made a decision to invest how much? $105 million. So the state of South Carolina has invested, I guess, with the retirement funds or whatever, has invested in Disney.
And they're saying, we're selling our stock. We're getting out of there because it's a bad investment. Well, let's scroll down here.
I want to read this to you. Here's what he said, I think it's clear to anybody paying attention that there's structural rot inside Disney. Now, when he says structural rot, I don't think he means that termites have invaded the, what do they call that? The enchanted castle or palace, whatever is that iconic symbol of Disneyland, Disney World.
That's not what he's talking about. He's talking about the structural rot of the corporation. It's got termites, figuratively speaking.
It's deep, he said. It's pervasive. And I suspect Bob Iger, since his return as a CEO now realizes it can't be fixed.
This is according to Fox Business Digital. That does not bode well for the future of the corporation. So they're out $105 million of the state's $67 billion in public funds.
What I'm thinking is this may be a spark or maybe one of many sparks that may start a fire where other corporations, other jurisdictions, government jurisdictions, other non-profits, other educational institutions say, you know, this is a bad investment. We need to get out of here. And the more they do, the more the stock is going to collapse and, you know, or at least go down.
And if it goes down in value, that's going to hurt the bottom line of Disney. They're not going to do well. All right, let's go back and evaluate this question.
What is it that Disney is doing wrong? I'm no expert, but I did run a business for 30 years. I do know this. There's a fundamental principle that I ran my business on, and it's this.
Find out what they want and get it for them, they being the consumer. They know what they want more than I do, and they know what they're willing to pay for it more than I do. But if I can get it for them for what they're willing to pay for it, then with a profit margin there, then I can make money.
Well, Disney doesn't appear to be living or operating by that philosophy. They're not getting what the consumer wants. What they're giving the consumer or trying to sell the consumer is left-wing woke rot.
And they don't want that. These movies they've been producing, nobody wants to watch a bunch of woke crap on. They don't want to spend money to go to the theater.
I mean, they get enough of that for free. You know, you can turn on your television. If anybody still has one, you can see woke rot on television.
You can listen to commercials, and watch commercials anywhere. And it seems like Madison Avenue isn't selling products anymore. It's selling cultural Marxism.
It's selling a Marxist ideology. They don't know what business they're in. Well, maybe they do.
They just don't care, you know. So what we've got to do is ask ourselves this question, according to my opinion, is if we are investors, and I'm not an investing expert and I don't give investment advice, but I do have some ideas. And my idea is if you want to make money, you don't invest in woke corporations or corporations whose advertising policy focuses more on selling far-left-wing woke ideology than the product that they're supposed to be selling.
And what is Disney supposed to be selling? Fun? You know, that's it. Pretty much entertainment. But I want to be entertained.
And they used to be very good at entertaining people. But now they seem to be using entertainment as kind of a cover to brainwash people like, we're too stupid to notice. No, we're not that stupid.
And it's kind of an insult for Disney to produce far-left-wing woke crap. Excuse me, I mean, rot. And expect not to notice.
We notice, and we're not going to buy movie tickets to watch your nonsense or anything else you happen to be selling.
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