{"version":"1.0.0","segments":[{"startTime":1.36,"endTime":7.559,"body":"these enormous entities have been"},{"startTime":4.04,"endTime":10.84,"body":"gaining ground at Breakneck speed"},{"startTime":7.559,"endTime":14.599,"body":"consumerism has become ubiquitous in our"},{"startTime":10.84,"endTime":18.52,"body":"society and has subsequently seeped into"},{"startTime":14.599,"endTime":21.24,"body":"every aspect of Our Lives we Babble on"},{"startTime":18.52,"endTime":24.16,"body":"about our favorite Brands as if they"},{"startTime":21.24,"endTime":27.64,"body":"were some sort of personal code of"},{"startTime":24.16,"endTime":30.32,"body":"arms however you slice it or dice it the"},{"startTime":27.64,"endTime":34.079,"body":"mission of these greedy gargantuan"},{"startTime":30.32,"endTime":37.64,"body":"juggernauts all boils down to one thing"},{"startTime":34.079,"endTime":40.879,"body":"the bottom line making"},{"startTime":37.64,"endTime":43.76,"body":"Moola we'll uncover the complex culture"},{"startTime":40.879,"endTime":45.92,"body":"of Corporations on this week's episode"},{"startTime":43.76,"endTime":51.28,"body":"of"},{"startTime":45.92,"endTime":53.74,"body":"FYI welcome to for your info English you"},{"startTime":51.28,"endTime":53.89,"body":"got it you"},{"startTime":53.74,"endTime":55.64,"body":"[Applause]"},{"startTime":53.89,"endTime":56.15,"body":"[Music]"},{"startTime":55.64,"endTime":58.92,"body":"[Applause]"},{"startTime":56.15,"endTime":61.92,"body":"[Music]"},{"startTime":58.92,"endTime":61.92,"body":"got"},{"startTime":63.08,"endTime":69.119,"body":"[Applause]"},{"startTime":65.14,"endTime":72.28,"body":"[Music]"},{"startTime":69.119,"endTime":74.68,"body":"hello hello hello and welcome to this"},{"startTime":72.28,"endTime":78.32,"body":"another exciting edition of"},{"startTime":74.68,"endTime":80.6,"body":"FYI thanks for tuning in fyers and"},{"startTime":78.32,"endTime":83.0,"body":"remember if you haven't heard a topic"},{"startTime":80.6,"endTime":85.96,"body":"that you'd like to hear about just let"},{"startTime":83.0,"endTime":89.36,"body":"me know I love learning about a new"},{"startTime":85.96,"endTime":92.119,"body":"topic every week just as much as you do"},{"startTime":89.36,"endTime":95.04,"body":"so with if you have ideas for upcoming"},{"startTime":92.119,"endTime":98.24,"body":"episodes just let me know I'm really"},{"startTime":95.04,"endTime":102.399,"body":"easy to find on social media I also have"},{"startTime":98.24,"endTime":102.399,"body":"a website it's Alberto Alonso"},{"startTime":104.439,"endTime":110.119,"body":"docomo community and if you're in my"},{"startTime":107.439,"endTime":112.24,"body":"Curious Community you'll get access not"},{"startTime":110.119,"endTime":115.04,"body":"only to one of the most amazing"},{"startTime":112.24,"endTime":117.96,"body":"communities ever and it's not because of"},{"startTime":115.04,"endTime":121.799,"body":"me it's because of the students but"},{"startTime":117.96,"endTime":125.119,"body":"you'll also get tons of amazing content"},{"startTime":121.799,"endTime":127.72,"body":"every week you'll get an extra episode"},{"startTime":125.119,"endTime":130.16,"body":"with tons of tidbits of English"},{"startTime":127.72,"endTime":133.04,"body":"information and tidbits are little"},{"startTime":130.16,"endTime":135.959,"body":"pieces go over to"},{"startTime":133.04,"endTime":138.48,"body":"patreon.com Alberto Alonso and take a"},{"startTime":135.959,"endTime":140.959,"body":"look at all the options but as well as"},{"startTime":138.48,"endTime":143.8,"body":"the bonus episode you can also get"},{"startTime":140.959,"endTime":146.72,"body":"access to PDF documents so you can"},{"startTime":143.8,"endTime":148.72,"body":"follow along with each episode and then"},{"startTime":146.72,"endTime":151.04,"body":"you can put yourself to the test"},{"startTime":148.72,"endTime":153.68,"body":"afterwards with our worksheets 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can also get a weekly"},{"startTime":186.2,"endTime":192.72,"body":"class with me it's a group class where"},{"startTime":189.2,"endTime":195.04,"body":"we have tons of fun playing and laughing"},{"startTime":192.72,"endTime":197.28,"body":"and reviewing the key vocabulary from"},{"startTime":195.04,"endTime":200.68,"body":"each episode and if you're in our"},{"startTime":197.28,"endTime":204.159,"body":"Interstellar level you get all of that"},{"startTime":200.68,"endTime":206.879,"body":"plus a monthly class with me where we"},{"startTime":204.159,"endTime":209.92,"body":"can check your progress and we can work"},{"startTime":206.879,"endTime":212.439,"body":"on what you need to work on specifically"},{"startTime":209.92,"endTime":213.599,"body":"so if you want to find out more go over"},{"startTime":212.439,"endTime":217.04,"body":"to"},{"startTime":213.599,"endTime":219.319,"body":"patreon.com Alberto Alonso and join us"},{"startTime":217.04,"endTime":222.159,"body":"and I'd like 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am"},{"startTime":259.479,"endTime":265.199,"body":"extremely proud of you all right let's"},{"startTime":262.8,"endTime":267.88,"body":"get this show on the road that's one of"},{"startTime":265.199,"endTime":270.6,"body":"my favorite idiomatic expressions that"},{"startTime":267.88,"endTime":273.52,"body":"means let's get going we'll start out by"},{"startTime":270.6,"endTime":276.759,"body":"taking a look at the intro I always put"},{"startTime":273.52,"endTime":279.72,"body":"tons of vocabulary in there on purpose"},{"startTime":276.759,"endTime":282.759,"body":"so every week when I release the teaser"},{"startTime":279.72,"endTime":285.84,"body":"you have at least 5 to 10 different"},{"startTime":282.759,"endTime":288.16,"body":"vocabulary words and expressions let's"},{"startTime":285.84,"endTime":290.68,"body":"take a look I started out by saying"},{"startTime":288.16,"endTime":293.56,"body":"these enormous entities have been"},{"startTime":290.68,"endTime":296.12,"body":"gaining ground and that means they've"},{"startTime":293.56,"endTime":299.6,"body":"become bigger I think you say something"},{"startTime":296.12,"endTime":302.88,"body":"similar in Spanish Tero ground and then"},{"startTime":299.6,"endTime":305.68,"body":"I said at break neck speed so we already"},{"startTime":302.88,"endTime":308.0,"body":"have an idiomatic expression and a super"},{"startTime":305.68,"endTime":311.24,"body":"cool vocabulary word in the first"},{"startTime":308.0,"endTime":314.039,"body":"sentence of the intro to gain ground and"},{"startTime":311.24,"endTime":316.919,"body":"at Breakneck speed which I think you can"},{"startTime":314.039,"endTime":320.33,"body":"tell from the context means it's going"},{"startTime":316.919,"endTime":324.15,"body":"really fast think Fernando"},{"startTime":320.33,"endTime":325.75,"body":"[Applause]"},{"startTime":324.15,"endTime":326.96,"body":"[Music]"},{"startTime":325.75,"endTime":331.36,"body":"[Applause]"},{"startTime":326.96,"endTime":333.319,"body":"Alonso then I said consumer M has become"},{"startTime":331.36,"endTime":335.24,"body":"ubiquitous I want to take a look at a"},{"startTime":333.319,"endTime":338.24,"body":"couple pronunciation things here"},{"startTime":335.24,"endTime":341.0,"body":"ubiquitous or ubiquitous I've heard it"},{"startTime":338.24,"endTime":343.24,"body":"pronounced both ways by very intelligent"},{"startTime":341.0,"endTime":346.56,"body":"people so I guess that's up to you"},{"startTime":343.24,"endTime":349.039,"body":"either either neither nether hey these"},{"startTime":346.56,"endTime":351.8,"body":"are words that have two pronunciations"},{"startTime":349.039,"endTime":356.4,"body":"that are accepted everywhere another one"},{"startTime":351.8,"endTime":358.52,"body":"the thing you put flowers in vay or vase"},{"startTime":356.4,"endTime":363.0,"body":"and I also wanted to take a look at our"},{"startTime":358.52,"endTime":365.88,"body":"isms say it with me ISM ISM cuz I've"},{"startTime":363.0,"endTime":367.88,"body":"heard students say ism is you know make"},{"startTime":365.88,"endTime":370.52,"body":"all kinds of weird sounds cuz there's no"},{"startTime":367.88,"endTime":373.28,"body":"vowel there think of it like a little e"},{"startTime":370.52,"endTime":376.759,"body":"over there a short e ISM so let's"},{"startTime":373.28,"endTime":378.56,"body":"practice a few isms"},{"startTime":376.759,"endTime":380.44,"body":"consumerism"},{"startTime":378.56,"endTime":382.96,"body":"populism"},{"startTime":380.44,"endTime":384.56,"body":"communism"},{"startTime":382.96,"endTime":387.36,"body":"Catholicism"},{"startTime":384.56,"endTime":389.599,"body":"nationalism tourism I hope you're"},{"startTime":387.36,"endTime":391.96,"body":"repeating these aloud with me this this"},{"startTime":389.599,"endTime":394.199,"body":"is a tough ending to pronounce for most"},{"startTime":391.96,"endTime":396.599,"body":"of my students but once you've got it"},{"startTime":394.199,"endTime":399.8,"body":"you've got it and as we say practice"},{"startTime":396.599,"endTime":403.8,"body":"makes perfect so consumerism has become"},{"startTime":399.8,"endTime":407.84,"body":"ubiquitous or ubiquitous in our society"},{"startTime":403.8,"endTime":410.919,"body":"and has subsequently seeped into every"},{"startTime":407.84,"endTime":413.919,"body":"aspect of our lives and to seep into"},{"startTime":410.919,"endTime":417.84,"body":"something is to penetrate it we Babble"},{"startTime":413.919,"endTime":419.879,"body":"on to babble on is to talk incessantly"},{"startTime":417.84,"endTime":422.52,"body":"we Babble on about our fa favorite"},{"startTime":419.879,"endTime":425.72,"body":"Brands as if they were some sort of"},{"startTime":422.52,"endTime":429.0,"body":"personal coat of arms and all I have to"},{"startTime":425.72,"endTime":430.52,"body":"say here is Apple Fanboys sometimes I"},{"startTime":429.0,"endTime":433.24,"body":"think these people are getting a"},{"startTime":430.52,"endTime":435.639,"body":"commission for promoting their products"},{"startTime":433.24,"endTime":438.24,"body":"I don't even like wearing logos on my"},{"startTime":435.639,"endTime":441.0,"body":"shirt because wait a second I'm paying"},{"startTime":438.24,"endTime":444.599,"body":"Tommy Hilfiger to wear a billboard of"},{"startTime":441.0,"endTime":447.199,"body":"him I don't think so not today not ever"},{"startTime":444.599,"endTime":449.68,"body":"but some people like to be the poster"},{"startTime":447.199,"endTime":452.24,"body":"child of a brand I get it if you're"},{"startTime":449.68,"endTime":454.08,"body":"getting paid you're a brand ambassador"},{"startTime":452.24,"endTime":456.52,"body":"or something there I get it but if"},{"startTime":454.08,"endTime":458.919,"body":"you're paying them to promote them"},{"startTime":456.52,"endTime":461.199,"body":"incessantly I don't get it I would at"},{"startTime":458.919,"endTime":463.12,"body":"least buy some stock in the company and"},{"startTime":461.199,"endTime":467.12,"body":"we'll talk a little bit about stocks"},{"startTime":463.12,"endTime":469.919,"body":"later on so we Babble on and think about"},{"startTime":467.12,"endTime":473.36,"body":"the word Babble the Tower of Babble we"},{"startTime":469.919,"endTime":476.52,"body":"Babble on about our favorite Brands and"},{"startTime":473.36,"endTime":478.599,"body":"a code of arms is UN escudo I think you"},{"startTime":476.52,"endTime":480.919,"body":"say in Spanish something that your"},{"startTime":478.599,"endTime":484.0,"body":"family has has your family name or in"},{"startTime":480.919,"endTime":486.4,"body":"many cases royalty then I said however"},{"startTime":484.0,"endTime":488.919,"body":"you slice it or dice it I'm going to"},{"startTime":486.4,"endTime":491.12,"body":"send a shout out to my student hos Maria"},{"startTime":488.919,"endTime":493.96,"body":"on this one I know he loves this"},{"startTime":491.12,"endTime":496.12,"body":"idiomatic expression this means however"},{"startTime":493.96,"endTime":499.72,"body":"you want to word it however you want to"},{"startTime":496.12,"endTime":503.159,"body":"say it the mission of these greedy and"},{"startTime":499.72,"endTime":506.159,"body":"greedy means I want more I'm never sad"},{"startTime":503.159,"endTime":508.879,"body":"ASI greed is one of the seven deadly"},{"startTime":506.159,"endTime":509.96,"body":"sins so I said the mission of these"},{"startTime":508.879,"endTime":513.919,"body":"greed"},{"startTime":509.96,"endTime":516.2,"body":"gargantuan juggernauts gargantuan means"},{"startTime":513.919,"endTime":518.76,"body":"huge and I know we've looked at the word"},{"startTime":516.2,"endTime":521.32,"body":"juggernauts before a juggernaut is like"},{"startTime":518.76,"endTime":523.839,"body":"a force of Nature and I said the word"},{"startTime":521.32,"endTime":525.959,"body":"Mission too I wanted to take a look at"},{"startTime":523.839,"endTime":529.12,"body":"the word mission statement really"},{"startTime":525.959,"endTime":532.08,"body":"quickly as well a mission statement is a"},{"startTime":529.12,"endTime":534.519,"body":"company's stated objective you can"},{"startTime":532.08,"endTime":538.16,"body":"usually find it on their website then I"},{"startTime":534.519,"endTime":541.68,"body":"said it all boils down to you can also"},{"startTime":538.16,"endTime":544.399,"body":"say it all comes down to one thing the"},{"startTime":541.68,"endTime":547.04,"body":"bottom line and the bottom line is the"},{"startTime":544.399,"endTime":549.36,"body":"most important thing this has also"},{"startTime":547.04,"endTime":552.64,"body":"become a synonym for money which is why"},{"startTime":549.36,"endTime":555.04,"body":"in the next line I say making Moola"},{"startTime":552.64,"endTime":556.959,"body":"Moola is another way to say money if you"},{"startTime":555.04,"endTime":560.0,"body":"didn't know that maybe it's because you"},{"startTime":556.959,"endTime":564.2,"body":"haven't listened to our FYI episode on"},{"startTime":560.0,"endTime":568.0,"body":"money then I said we'll uncover the"},{"startTime":564.2,"endTime":570.24,"body":"complex culture of Corporations on this"},{"startTime":568.0,"endTime":573.44,"body":"week's episode of"},{"startTime":570.24,"endTime":576.32,"body":"FYI I imagine many of you listening"},{"startTime":573.44,"endTime":578.64,"body":"right now work at a corporation I work"},{"startTime":576.32,"endTime":582.16,"body":"at a corporation well what is a"},{"startTime":578.64,"endTime":586.2,"body":"corporation let's start by defining it a"},{"startTime":582.16,"endTime":589.92,"body":"corporation is an organization usually a"},{"startTime":586.2,"endTime":594.6,"body":"group of people or a company authorized"},{"startTime":589.92,"endTime":598.64,"body":"by the state to act as a single entity"},{"startTime":594.6,"endTime":601.72,"body":"and recognized as such in law for"},{"startTime":598.64,"endTime":605.0,"body":"certain purposes and we'll talk about"},{"startTime":601.72,"endTime":608.279,"body":"this later on as well but a corporation"},{"startTime":605.0,"endTime":610.76,"body":"is a legal person the only thing is it"},{"startTime":608.279,"endTime":613.079,"body":"seems like they have more rights than a"},{"startTime":610.76,"endTime":615.72,"body":"legal person which is something we'll"},{"startTime":613.079,"endTime":617.839,"body":"look at in the bonus episode in the"},{"startTime":615.72,"endTime":620.36,"body":"bonus episode we'll take a look at"},{"startTime":617.839,"endTime":622.64,"body":"unions we'll also take a look at some of"},{"startTime":620.36,"endTime":625.399,"body":"the biggest strikes we'll look at the"},{"startTime":622.64,"endTime":628.64,"body":"robber barons these were the guys who"},{"startTime":625.399,"endTime":630.959,"body":"built the United States but at what cost"},{"startTime":628.64,"endTime":633.2,"body":"as we always ask ourselves in every"},{"startTime":630.959,"endTime":636.8,"body":"episode we'll also take a look at some"},{"startTime":633.2,"endTime":641.04,"body":"fun facts we'll look at the dark side"},{"startTime":636.8,"endTime":643.88,"body":"monopolies CEO salaries the biggest"},{"startTime":641.04,"endTime":647.079,"body":"bankruptcies and tons of vocab and"},{"startTime":643.88,"endTime":649.8,"body":"idioms associated with corporations all"},{"startTime":647.079,"endTime":652.56,"body":"that and much more in the bonus episode"},{"startTime":649.8,"endTime":655.399,"body":"now here's a little technicality what's"},{"startTime":652.56,"endTime":658.6,"body":"the difference between a company and a"},{"startTime":655.399,"endTime":661.079,"body":"corporation a company is not necessarily"},{"startTime":658.6,"endTime":664.92,"body":"a COR Corporation at least in the United"},{"startTime":661.079,"endTime":667.16,"body":"States although all corporations can be"},{"startTime":664.92,"endTime":669.88,"body":"classified as companies and a"},{"startTime":667.16,"endTime":673.12,"body":"corporation is a type of business that"},{"startTime":669.88,"endTime":675.8,"body":"is distinct from its owner but as we"},{"startTime":673.12,"endTime":678.36,"body":"just said it's a legal person at the"},{"startTime":675.8,"endTime":681.72,"body":"same time so companies have to file"},{"startTime":678.36,"endTime":684.959,"body":"their taxes separately from the personal"},{"startTime":681.72,"endTime":686.76,"body":"taxes of their owners so Elon Musk for"},{"startTime":684.959,"endTime":689.959,"body":"example which was a pretty recent"},{"startTime":686.76,"endTime":691.68,"body":"episode he has to do his tax tax return"},{"startTime":689.959,"endTime":695.32,"body":"and then there's a separate one for the"},{"startTime":691.68,"endTime":698.399,"body":"company but where did corporations start"},{"startTime":695.32,"endTime":701.04,"body":"well they started here in Europe or at"},{"startTime":698.399,"endTime":704.16,"body":"least the idea the predecessor of a"},{"startTime":701.04,"endTime":708.04,"body":"corporation and this was when European"},{"startTime":704.16,"endTime":711.92,"body":"monarchs gave companies a charter this"},{"startTime":708.04,"endTime":715.36,"body":"was like a right to exist the monarchy"},{"startTime":711.92,"endTime":718.16,"body":"would even Finance these companies but"},{"startTime":715.36,"endTime":720.519,"body":"there was limited liability they could"},{"startTime":718.16,"endTime":723.6,"body":"only lose lose the amount of money they"},{"startTime":720.519,"endTime":726.399,"body":"invested no more that's a right that was"},{"startTime":723.6,"endTime":729.24,"body":"not offered to individuals so as an"},{"startTime":726.399,"endTime":731.72,"body":"investor which the monarchs are that's"},{"startTime":729.24,"endTime":734.24,"body":"why they have tons of money this offered"},{"startTime":731.72,"endTime":736.68,"body":"a safer investment so that's why"},{"startTime":734.24,"endTime":739.24,"body":"Charters became really big but they"},{"startTime":736.68,"endTime":741.279,"body":"didn't just give a charter to anyone you"},{"startTime":739.24,"endTime":744.199,"body":"had to go in front of a"},{"startTime":741.279,"endTime":746.72,"body":"court or a board and you had to present"},{"startTime":744.199,"endTime":749.04,"body":"your case and what you were going to do"},{"startTime":746.72,"endTime":751.12,"body":"and if they agreed with it well maybe"},{"startTime":749.04,"endTime":754.199,"body":"they would give you that Charter does"},{"startTime":751.12,"endTime":756.6,"body":"this sound familiar the Catholic Kings"},{"startTime":754.199,"endTime":759.16,"body":"Isabella and Ferdinand Christopher"},{"startTime":756.6,"endTime":762.399,"body":"Columbus he had to go in front of them"},{"startTime":759.16,"endTime":764.56,"body":"and get that Charter as we call it to"},{"startTime":762.399,"endTime":767.639,"body":"discover the new world and it was"},{"startTime":764.56,"endTime":771.04,"body":"through these Charters that Europe"},{"startTime":767.639,"endTime":774.24,"body":"became so big they were expanding their"},{"startTime":771.04,"endTime":778.24,"body":"territories all over the world countries"},{"startTime":774.24,"endTime":781.839,"body":"like Holland Spain France and England"},{"startTime":778.24,"endTime":785.88,"body":"and as the companies expanded so did the"},{"startTime":781.839,"endTime":789.76,"body":"government's wealth and land thus their"},{"startTime":785.88,"endTime":793.04,"body":"empire would grow so it was a win-win"},{"startTime":789.76,"endTime":796.32,"body":"for the monarchy or the ruling class and"},{"startTime":793.04,"endTime":797.48,"body":"the adventurers the people who had ideas"},{"startTime":796.32,"endTime":801.079,"body":"the"},{"startTime":797.48,"endTime":805.079,"body":"entrepreneurs but this is also the"},{"startTime":801.079,"endTime":808.079,"body":"government in bed with big business"},{"startTime":805.079,"endTime":810.12,"body":"which as we know if they get too close"},{"startTime":808.079,"endTime":811.92,"body":"to each other we could get near"},{"startTime":810.12,"endTime":814.399,"body":"something I don't think anybody really"},{"startTime":811.92,"endTime":818.0,"body":"likes Fascism and we'll talk a little"},{"startTime":814.399,"endTime":821.24,"body":"bit about that later on too Laz Fair"},{"startTime":818.0,"endTime":822.839,"body":"capitalism and other isms the good thing"},{"startTime":821.24,"endTime":826.12,"body":"is you already know how to pronounce"},{"startTime":822.839,"endTime":828.839,"body":"this ending one of the biggest companies"},{"startTime":826.12,"endTime":833.32,"body":"was a British company called the East"},{"startTime":828.839,"endTime":836.04,"body":"India Company they made England super"},{"startTime":833.32,"endTime":839.759,"body":"wealthy and it originally started out as"},{"startTime":836.04,"endTime":842.839,"body":"a charter called governor and company of"},{"startTime":839.759,"endTime":845.92,"body":"merchants of London trading into the"},{"startTime":842.839,"endTime":848.68,"body":"East Indies nowadays we know it as the"},{"startTime":845.92,"endTime":851.6,"body":"East India Company a British company"},{"startTime":848.68,"endTime":855.8,"body":"that accounted for half of the World's"},{"startTime":851.6,"endTime":858.92,"body":"Trade during the mid 1700s and early"},{"startTime":855.8,"endTime":861.32,"body":"1800s they were running the show as far"},{"startTime":858.92,"endTime":864.92,"body":"as trade was concerned and they were"},{"startTime":861.32,"endTime":869.56,"body":"trading Commodities Commodities such as"},{"startTime":864.92,"endTime":875.12,"body":"cotton silk Indigo dye sugar"},{"startTime":869.56,"endTime":878.639,"body":"salt spices tea and even opium and the"},{"startTime":875.12,"endTime":881.04,"body":"company also ruled the beginnings of"},{"startTime":878.639,"endTime":884.399,"body":"what would be the British Empire in"},{"startTime":881.04,"endTime":887.48,"body":"India so technically it wasn't Britain"},{"startTime":884.399,"endTime":891.16,"body":"that own those places in India it was"},{"startTime":887.48,"endTime":894.959,"body":"the East India Company but this company"},{"startTime":891.16,"endTime":898.68,"body":"came to rule large areas of India they"},{"startTime":894.959,"endTime":901.279,"body":"even exercised military power and a"},{"startTime":898.68,"endTime":903.8,"body":"assumed administrative functions this"},{"startTime":901.279,"endTime":907.92,"body":"was also the first company in the world"},{"startTime":903.8,"endTime":910.44,"body":"to issue stock stock is aonis it's to"},{"startTime":907.92,"endTime":913.24,"body":"have a piece of the company so just to"},{"startTime":910.44,"endTime":916.12,"body":"give you an idea of how important these"},{"startTime":913.24,"endTime":918.72,"body":"companies were or how powerful they were"},{"startTime":916.12,"endTime":921.6,"body":"I should say another such company was"},{"startTime":918.72,"endTime":924.639,"body":"the Massachusetts Bay Company it was"},{"startTime":921.6,"endTime":927.759,"body":"chartered by King Charles and it was"},{"startTime":924.639,"endTime":930.319,"body":"this Charter that was partly responsible"},{"startTime":927.759,"endTime":933.36,"body":"for colon ing what would be the United"},{"startTime":930.319,"endTime":935.959,"body":"States they colonized the Massachusetts"},{"startTime":933.36,"endTime":938.759,"body":"Bay Area I guess they had an appropriate"},{"startTime":935.959,"endTime":942.24,"body":"name and that was a charter that was"},{"startTime":938.759,"endTime":944.24,"body":"granted by Charles I of England so these"},{"startTime":942.24,"endTime":946.92,"body":"companies were not just making money"},{"startTime":944.24,"endTime":949.68,"body":"hand over fist but they were also"},{"startTime":946.92,"endTime":953.759,"body":"expanding Empire there's also something"},{"startTime":949.68,"endTime":956.279,"body":"called the Embargo Act of 1807 and an"},{"startTime":953.759,"endTime":958.759,"body":"embargo is like a restriction a trade"},{"startTime":956.279,"endTime":961.319,"body":"restriction if I'm not mistaken the word"},{"startTime":958.759,"endTime":964.44,"body":"in Spanish is aranel and this was"},{"startTime":961.319,"endTime":966.6,"body":"proposed by Thomas Jefferson and this"},{"startTime":964.44,"endTime":969.759,"body":"basically made it so that there was an"},{"startTime":966.6,"endTime":972.04,"body":"embargo on France and England we"},{"startTime":969.759,"endTime":973.56,"body":"couldn't buy products from them now"},{"startTime":972.04,"endTime":976.04,"body":"you're thinking what does this have to"},{"startTime":973.56,"endTime":979.16,"body":"do with corporations well we still"},{"startTime":976.04,"endTime":982.319,"body":"needed these products our country was"},{"startTime":979.16,"endTime":984.92,"body":"you know sprouting it was in its infancy"},{"startTime":982.319,"endTime":987.92,"body":"so this triggered a boom in the United"},{"startTime":984.92,"endTime":990.199,"body":"States new corporations were sprouting"},{"startTime":987.92,"endTime":993.0,"body":"up every everywhere because we couldn't"},{"startTime":990.199,"endTime":996.04,"body":"buy British or French products anymore"},{"startTime":993.0,"endTime":999.079,"body":"and we started to manufacture a lot of"},{"startTime":996.04,"endTime":1001.8,"body":"things domestically particularly the"},{"startTime":999.079,"endTime":1004.639,"body":"textile industry and this was also the"},{"startTime":1001.8,"endTime":1007.079,"body":"beginning of the manufacturing system in"},{"startTime":1004.639,"endTime":1010.56,"body":"the United States and obviously it"},{"startTime":1007.079,"endTime":1013.36,"body":"reduced this budding nation's dependence"},{"startTime":1010.56,"endTime":1015.639,"body":"on imported manufactured goods they"},{"startTime":1013.36,"endTime":1017.959,"body":"could make them at home but now as you"},{"startTime":1015.639,"endTime":1021.079,"body":"guys know we don't do it that way we'll"},{"startTime":1017.959,"endTime":1023.24,"body":"look at that that in the darkg side"},{"startTime":1021.079,"endTime":1026.0,"body":"let's take a look at a couple kinds of"},{"startTime":1023.24,"endTime":1029.319,"body":"companies here you've got public versus"},{"startTime":1026.0,"endTime":1032.24,"body":"private a public company issues Equity"},{"startTime":1029.319,"endTime":1034.679,"body":"to what are called shareholders or"},{"startTime":1032.24,"endTime":1037.6,"body":"stockholders those Shares are traded on"},{"startTime":1034.679,"endTime":1042.16,"body":"the stock market and the day that that"},{"startTime":1037.6,"endTime":1044.72,"body":"company goes public they call it an IPO"},{"startTime":1042.16,"endTime":1046.6,"body":"initial public offering I don't know"},{"startTime":1044.72,"endTime":1049.039,"body":"very much about this area but I know"},{"startTime":1046.6,"endTime":1051.64,"body":"this much that's the original stock"},{"startTime":1049.039,"endTime":1054.44,"body":"price when a company goes public a"},{"startTime":1051.64,"endTime":1057.6,"body":"private company on the other hand is as"},{"startTime":1054.44,"endTime":1060.559,"body":"its name implies privately owned and"},{"startTime":1057.6,"endTime":1063.559,"body":"it's not regulated a public company you"},{"startTime":1060.559,"endTime":1067.0,"body":"have to show your figures year after"},{"startTime":1063.559,"endTime":1070.16,"body":"year trimester after trimester I mean"},{"startTime":1067.0,"endTime":1072.799,"body":"you are under harsh scrutiny also many"},{"startTime":1070.16,"endTime":1075.6,"body":"of the decisions are made by"},{"startTime":1072.799,"endTime":1077.44,"body":"shareholders or the executive committee"},{"startTime":1075.6,"endTime":1079.64,"body":"the board of directors but they"},{"startTime":1077.44,"endTime":1082.52,"body":"represent the share shareholders and as"},{"startTime":1079.64,"endTime":1084.36,"body":"we said before what is their objective"},{"startTime":1082.52,"endTime":1087.24,"body":"it doesn't matter what industry they're"},{"startTime":1084.36,"endTime":1090.24,"body":"in their objective their aim is the"},{"startTime":1087.24,"endTime":1092.88,"body":"bottom line money there's also something"},{"startTime":1090.24,"endTime":1094.88,"body":"called a holding company and this is a"},{"startTime":1092.88,"endTime":1097.76,"body":"kind of company that does not perform"},{"startTime":1094.88,"endTime":1100.44,"body":"any actual business operations so they"},{"startTime":1097.76,"endTime":1103.4,"body":"don't create a product or service what"},{"startTime":1100.44,"endTime":1106.4,"body":"they do is they control other companies"},{"startTime":1103.4,"endTime":1109.28,"body":"by owning the majority of shares they"},{"startTime":1106.4,"endTime":1112.84,"body":"don't necessarily run those companies on"},{"startTime":1109.28,"endTime":1115.64,"body":"paper but if you own most of the stock"},{"startTime":1112.84,"endTime":1118.32,"body":"well you have a lot of oversight on"},{"startTime":1115.64,"endTime":1121.159,"body":"major decisions and you could be"},{"startTime":1118.32,"endTime":1123.96,"body":"considered the primary owner even though"},{"startTime":1121.159,"endTime":1126.76,"body":"obviously it's owned by many people it's"},{"startTime":1123.96,"endTime":1129.96,"body":"public as the name says there are three"},{"startTime":1126.76,"endTime":1133.2,"body":"companies I urge you to look into these"},{"startTime":1129.96,"endTime":1134.76,"body":"three companies own almost everything"},{"startTime":1133.2,"endTime":1138.32,"body":"and if you haven't heard of these"},{"startTime":1134.76,"endTime":1141.32,"body":"companies it's shocking because they own"},{"startTime":1138.32,"endTime":1145.0,"body":"own a little piece and sometimes a big"},{"startTime":1141.32,"endTime":1147.48,"body":"piece of every major company in every"},{"startTime":1145.0,"endTime":1150.08,"body":"major industry we'll talk more about"},{"startTime":1147.48,"endTime":1152.76,"body":"them in the dark side in the bonus"},{"startTime":1150.08,"endTime":1155.88,"body":"episode but I'll tell you their names"},{"startTime":1152.76,"endTime":1161.28,"body":"now so you can do some research Black"},{"startTime":1155.88,"endTime":1164.76,"body":"Rock Vanguard and State Street they own"},{"startTime":1161.28,"endTime":1168.48,"body":"everything look up Larry thinkink the"},{"startTime":1164.76,"endTime":1171.44,"body":"CEO of Black Rock he's like some kind of"},{"startTime":1168.48,"endTime":1173.64,"body":"diabolical figure or at least it seems"},{"startTime":1171.44,"endTime":1173.64,"body":"that"},{"startTime":1176.44,"endTime":1183.039,"body":"way then you've got your nonprofit"},{"startTime":1179.32,"endTime":1186.24,"body":"organizations your NOS these are more"},{"startTime":1183.039,"endTime":1188.799,"body":"common everyday a lot of them are great"},{"startTime":1186.24,"endTime":1190.88,"body":"because they're helping children but as"},{"startTime":1188.799,"endTime":1194.0,"body":"we know too there are many people who"},{"startTime":1190.88,"endTime":1196.76,"body":"set up nonprofits in order to dodge"},{"startTime":1194.0,"endTime":1199.24,"body":"taxes I once heard somebody say I don't"},{"startTime":1196.76,"endTime":1201.159,"body":"remember where if you have a nonprofit"},{"startTime":1199.24,"endTime":1204.559,"body":"you're laundering money I'm not saying"},{"startTime":1201.159,"endTime":1206.64,"body":"that's true in every case by any means"},{"startTime":1204.559,"endTime":1209.08,"body":"but it is a good way to move money"},{"startTime":1206.64,"endTime":1211.32,"body":"around without it being taxed then"},{"startTime":1209.08,"endTime":1213.799,"body":"you've got your small and medium-sized"},{"startTime":1211.32,"endTime":1217.08,"body":"businesses which you call I think beis"},{"startTime":1213.799,"endTime":1219.0,"body":"and my favorite ones mom and pop shops"},{"startTime":1217.08,"endTime":1222.24,"body":"those are those ones that we have to"},{"startTime":1219.0,"endTime":1225.2,"body":"support because no matter how convenient"},{"startTime":1222.24,"endTime":1227.679,"body":"Amazon is we don't want the local Fruit"},{"startTime":1225.2,"endTime":1230.44,"body":"Stand to close down either so we have to"},{"startTime":1227.679,"endTime":1232.28,"body":"support these smaller businesses as well"},{"startTime":1230.44,"endTime":1234.72,"body":"we talked about this in the Amazon"},{"startTime":1232.28,"endTime":1236.44,"body":"episode and I'm sure some of you I said"},{"startTime":1234.72,"endTime":1239.08,"body":"before some of you work for a"},{"startTime":1236.44,"endTime":1241.6,"body":"corporation and some of you are business"},{"startTime":1239.08,"endTime":1244.36,"body":"owners you run your own business shout"},{"startTime":1241.6,"endTime":1246.64,"body":"out to Edgar and there are pros and cons"},{"startTime":1244.36,"endTime":1249.159,"body":"to this edot I'm sure you can add a few"},{"startTime":1246.64,"endTime":1251.48,"body":"extras in our class but the first thing"},{"startTime":1249.159,"endTime":1254.2,"body":"is you're following your dreams your"},{"startTime":1251.48,"endTime":1256.679,"body":"passions you're leaving a legacy if that"},{"startTime":1254.2,"endTime":1258.159,"body":"business goes well so starting your own"},{"startTime":1256.679,"endTime":1260.64,"body":"company I mean that's a wonderful thing"},{"startTime":1258.159,"endTime":1263.4,"body":"thing you are your own boss now I know"},{"startTime":1260.64,"endTime":1266.36,"body":"in my case it means you have to be very"},{"startTime":1263.4,"endTime":1268.4,"body":"disciplined thankfully I am I don't know"},{"startTime":1266.36,"endTime":1271.84,"body":"if I could have started my own business"},{"startTime":1268.4,"endTime":1273.96,"body":"10 15 years ago so it takes a certain"},{"startTime":1271.84,"endTime":1275.84,"body":"responsibility you have to have work"},{"startTime":1273.96,"endTime":1278.039,"body":"ethic as we call it but if you're"},{"startTime":1275.84,"endTime":1281.0,"body":"following your dreams there's nothing"},{"startTime":1278.039,"endTime":1283.36,"body":"better there are disadvantages or cons"},{"startTime":1281.0,"endTime":1285.36,"body":"as we said you're risking a lot you have"},{"startTime":1283.36,"endTime":1287.48,"body":"to put down some money to start a"},{"startTime":1285.36,"endTime":1290.76,"body":"business you can't just start a business"},{"startTime":1287.48,"endTime":1294.799,"body":"out of a so you take a Financial Risk"},{"startTime":1290.76,"endTime":1297.32,"body":"there's legal liability long hours well"},{"startTime":1294.799,"endTime":1300.44,"body":"whatever hours it takes if you're the"},{"startTime":1297.32,"endTime":1302.72,"body":"boss the buck stops here this means you"},{"startTime":1300.44,"endTime":1305.6,"body":"don't pass the responsibility on to"},{"startTime":1302.72,"endTime":1307.44,"body":"anybody else the buck stops here and if"},{"startTime":1305.6,"endTime":1310.08,"body":"you work for a company well it's the"},{"startTime":1307.44,"endTime":1312.559,"body":"company's problem if their stock is down"},{"startTime":1310.08,"endTime":1314.799,"body":"if you're losing money in your small"},{"startTime":1312.559,"endTime":1317.039,"body":"business that's your problem and that"},{"startTime":1314.799,"endTime":1319.2,"body":"could cause a lot of stress and what"},{"startTime":1317.039,"endTime":1322.279,"body":"happens when we stress stress we get"},{"startTime":1319.2,"endTime":1324.4,"body":"sick so there are even health risks then"},{"startTime":1322.279,"endTime":1327.32,"body":"you have a certain responsibility"},{"startTime":1324.4,"endTime":1329.559,"body":"towards your employees and your staff"},{"startTime":1327.32,"endTime":1331.799,"body":"and don't forget about taxes that's a"},{"startTime":1329.559,"endTime":1335.0,"body":"pain in the ass you need to hire a"},{"startTime":1331.799,"endTime":1337.64,"body":"bookkeeper or an accountant and you can"},{"startTime":1335.0,"endTime":1340.36,"body":"fail be prepared to fail but that"},{"startTime":1337.64,"endTime":1342.64,"body":"doesn't mean you're a failure it means"},{"startTime":1340.36,"endTime":1345.48,"body":"you've got to try again maybe not in"},{"startTime":1342.64,"endTime":1348.32,"body":"that business but you don't stay down as"},{"startTime":1345.48,"endTime":1350.64,"body":"we say you pick yourself up you dust"},{"startTime":1348.32,"endTime":1352.2,"body":"yourself off and you start again and as"},{"startTime":1350.64,"endTime":1354.12,"body":"you guys have known every time we've"},{"startTime":1352.2,"endTime":1356.64,"body":"taken a look at an entrepreneur here on"},{"startTime":1354.12,"endTime":1359.76,"body":"the show none of them made it on their"},{"startTime":1356.64,"endTime":1362.36,"body":"first go you have to be extremely lucky"},{"startTime":1359.76,"endTime":1365.039,"body":"if you do it the first time perfectly"},{"startTime":1362.36,"endTime":1368.48,"body":"let's take a look at the most successful"},{"startTime":1365.039,"endTime":1373.279,"body":"companies by market capitalization in"},{"startTime":1368.48,"endTime":1377.2,"body":"2023 in order you've got Apple Microsoft"},{"startTime":1373.279,"endTime":1379.4,"body":"aramco alphabet and Amazon that's four"},{"startTime":1377.2,"endTime":1382.24,"body":"American compan companies and one Saudi"},{"startTime":1379.4,"endTime":1385.08,"body":"Arabia company and the four American"},{"startTime":1382.24,"endTime":1387.12,"body":"companies are tech companies what we"},{"startTime":1385.08,"endTime":1389.88,"body":"call Big Tech and we're going to look at"},{"startTime":1387.12,"endTime":1392.799,"body":"that in the bonus episode too big Tech"},{"startTime":1389.88,"endTime":1396.0,"body":"big food big Pharma we'll wrap up this"},{"startTime":1392.799,"endTime":1398.039,"body":"episode with some stats the estimated"},{"startTime":1396.0,"endTime":1401.559,"body":"number of companies currently at the"},{"startTime":1398.039,"endTime":1405.96,"body":"time of this recording is approximately"},{"startTime":1401.559,"endTime":1409.76,"body":"333 million companies worldwide of the"},{"startTime":1405.96,"endTime":1413.44,"body":"100 largest economies in the world 51"},{"startTime":1409.76,"endTime":1416.799,"body":"are corporations the top 200 Corporation"},{"startTime":1413.44,"endTime":1420.24,"body":"sales are growing at a faster rate than"},{"startTime":1416.799,"endTime":1423.4,"body":"overall global economic activity so they"},{"startTime":1420.24,"endTime":1426.919,"body":"are making money more than ever as I"},{"startTime":1423.4,"endTime":1429.44,"body":"said before at break neck speed but as"},{"startTime":1426.919,"endTime":1433.76,"body":"we'll look at in the bonus episode of"},{"startTime":1429.44,"endTime":1437.44,"body":"the US corporations on that top 200 list"},{"startTime":1433.76,"endTime":1440.96,"body":"44 of them did not pay the full standard"},{"startTime":1437.44,"endTime":1445.44,"body":"3 5% Federal corporate tax this was"},{"startTime":1440.96,"endTime":1448.48,"body":"during the period of 1996 to 1998 seven"},{"startTime":1445.44,"endTime":1451.88,"body":"of those companies actually paid less"},{"startTime":1448.48,"endTime":1453.88,"body":"than zero in federal income taxes"},{"startTime":1451.88,"endTime":1456.6,"body":"they're able to do this because of"},{"startTime":1453.88,"endTime":1458.76,"body":"rebates rebates is when the government"},{"startTime":1456.6,"endTime":1461.52,"body":"gives you back some money and those"},{"startTime":1458.76,"endTime":1466.0,"body":"companies the ones who paid less than"},{"startTime":1461.52,"endTime":1470.24,"body":"zero in income tax this was in 1998 were"},{"startTime":1466.0,"endTime":1472.64,"body":"Texico Chevron PepsiCo Enron which we'll"},{"startTime":1470.24,"endTime":1476.48,"body":"talk about in the bonus episode in the"},{"startTime":1472.64,"endTime":1479.76,"body":"bankruptcies part Worldcom and General"},{"startTime":1476.48,"endTime":1482.799,"body":"Motors so that's the textbook definition"},{"startTime":1479.76,"endTime":1485.88,"body":"of greed making more money than ever and"},{"startTime":1482.799,"endTime":1490.039,"body":"not paying any taxes whereas if I don't"},{"startTime":1485.88,"endTime":1492.12,"body":"pay €60 I'll get 75 letters in the mail"},{"startTime":1490.039,"endTime":1494.52,"body":"we'll talk about all that in the bonus"},{"startTime":1492.12,"endTime":1496.799,"body":"episode but it reminds me of the movie"},{"startTime":1494.52,"endTime":1498.679,"body":"Wall Street with Michael Douglas the"},{"startTime":1496.799,"endTime":1502.32,"body":"original one and and he says in the"},{"startTime":1498.679,"endTime":1505.96,"body":"movie Greed for lack of a better word is"},{"startTime":1502.32,"endTime":1508.64,"body":"a good thing I disagree with him I say"},{"startTime":1505.96,"endTime":1510.799,"body":"if you can make a buck without screwing"},{"startTime":1508.64,"endTime":1513.159,"body":"people over well then you can go to"},{"startTime":1510.799,"endTime":1515.88,"body":"sleep every night with a smile on your"},{"startTime":1513.159,"endTime":1518.76,"body":"face and I'm going to play that scene"},{"startTime":1515.88,"endTime":1521.559,"body":"for you because this is a really famous"},{"startTime":1518.76,"endTime":1524.08,"body":"scene it's from the movie Wall Street"},{"startTime":1521.559,"endTime":1525.76,"body":"and this is Michael Douglas talking"},{"startTime":1524.08,"endTime":1528.76,"body":"about"},{"startTime":1525.76,"endTime":1531.039,"body":"greed the new law"},{"startTime":1528.76,"endTime":1534.6,"body":"of evolution in Corporate America seems"},{"startTime":1531.039,"endTime":1536.76,"body":"to be survival of the"},{"startTime":1534.6,"endTime":1540.559,"body":"unfittest well in my book you either do"},{"startTime":1536.76,"endTime":1543.039,"body":"it right or you get"},{"startTime":1540.559,"endTime":1545.52,"body":"eliminated in the last seven deals that"},{"startTime":1543.039,"endTime":1548.399,"body":"I've been involved with there were 2.5"},{"startTime":1545.52,"endTime":1551.76,"body":"million stockholders who have made a"},{"startTime":1548.399,"endTime":1554.919,"body":"pre-tax profit of $12"},{"startTime":1551.76,"endTime":1554.919,"body":"billion thank"},{"startTime":1555.279,"endTime":1561.84,"body":"you I am not a destroy ER of companies I"},{"startTime":1559.6,"endTime":1565.12,"body":"am a liberator of"},{"startTime":1561.84,"endTime":1569.96,"body":"them the point is ladies and gentlemen"},{"startTime":1565.12,"endTime":1574.24,"body":"that Greed for lack of a better word is"},{"startTime":1569.96,"endTime":1578.12,"body":"good greed is Right greed"},{"startTime":1574.24,"endTime":1581.679,"body":"Works greed clarifies cuts through and"},{"startTime":1578.12,"endTime":1585.24,"body":"captures the essence of The evolutionary"},{"startTime":1581.679,"endTime":1589.399,"body":"Spirit greed in all of its forms Greed"},{"startTime":1585.24,"endTime":1592.08,"body":"for life for money for love knowledge"},{"startTime":1589.399,"endTime":1593.44,"body":"has marked the upward surge of mankind"},{"startTime":1592.08,"endTime":1597.2,"body":"and"},{"startTime":1593.44,"endTime":1599.52,"body":"greed you mark my words will not only"},{"startTime":1597.2,"endTime":1602.08,"body":"save tar paper but that other"},{"startTime":1599.52,"endTime":1605.2,"body":"malfunctioning Corporation Called the"},{"startTime":1602.08,"endTime":1607.44,"body":"USA thank you very much I sure hope you"},{"startTime":1605.2,"endTime":1609.76,"body":"guys will join us in the bonus episode"},{"startTime":1607.44,"endTime":1609.76,"body":"of"},{"startTime":1609.86,"endTime":1613.05,"body":"[Applause]"},{"startTime":1616.6,"endTime":1619.6,"body":"FYI"},{"startTime":1624.8,"endTime":1630.619,"body":"[Music]"},{"startTime":1636.039,"endTime":1639.039,"body":"a"}]}