Ann Barry (1:41)

He gets his prize. And it's like Paramount shareholders are pretty happy too. Stock was up 5% in extended trading hours last night. Got to tell you, you've been talking about this, right? The roller coaster, the drama and the marathon this turned into. But there were signs this was coming. I don't think anyone could really say they were surprised. Netflix did give Warner Brothers a seven day waiver. You remember this saying, look, you can go re engage with Paramount. The fact that they did that was a sign that perhaps this thing was going to go in a different direction. And I got to say they've decided to walk away pretty quickly. They had another four days, I think, to decide to do something differently.

Neal Freyman (2:14)

Ted Sarandos, the co CEO, was actually at the White House yesterday meeting with staff because remember this potential merger of Netflix and Warner Brothers Discovery Faced a long regulatory road ahead. Let's talk about what's being combined here. So what do Paramount Mount and Warner Brothers Discovery bring together? Well, this combined company will own two major movie studios, Warner Brothers and Paramount. Two major news operations, CBS and cnn. Two major streaming services, HBO Max and Paramount, plus and then a massive sports portfolio. NFL Mob, NHL, ufc, March Madness, Golf, UEFA Champions League. I could go on. So that is all going to be owned by David Ellison. The Ellisons are on a hot streak right now. David Ellison, he's kind of reverse Pac man, this whole media business because he remember he was running a company called Skydance. Skydance bought Paramount last year and now Paramount is buying Warner Brothers. Discovery is just getting bigger. And then meanwhile, his father, Larry Ellison of Oracle fame, now owns a piece of us TikTok. So the Ellison's are new. The are the new media titans in the room. There are questions remaining about the regulatory process ahead. California's Attorney General came out last night and said, this deal is not over. Both of these companies are in my jurisdiction and we're going to give it a long, hard look.

Ann Barry (3:33)

The great irony there being, of course, that a lot of Hollywood stalwarts based of course in California were actually opposed at first. Remember this to Netflix saying that they wanted to buy Warner Brothers, concerned that, you know, that was sort of the fast food version of making movies versus David Ellison has been really vocal about how he wants to keep like the grand tradition of the silver screen going. So the idea that it's California that ultimately pops its head up and says, you know, we've got words on this, it would be sort of an interesting one to track.

Neal Freyman (3:59)

Well, I think they might be concerned about the concentration. The Ellison family, who is very close to President Trump and David Ellison, has made a lot of big changes at CBS by bringing in Barry Weiss there. And now if CBS is sister companies with cnn, I just think there's a lot of sort of concern or a lot of uncertainty about what might happen to these, these big news organizations, especially with one billionaire family controlling a lot of the pie. Well, I said there were two business news haymakers. The other one was a move that is creating shockwaves around Silicon Valley and the wider labor market block. The fintech company run by Twitter co founder Jack Dorsey said it was going to reduce its workforce by nearly half because of AI cutting about 4,000 people. In a long post on X, Dorsey explained his rationale. We're already seeing the intelligence tools we're creating and using paired with smaller and flatter teams. Are enabling a new way of working which fundamentally changes what it means to build and run a company. And that's accelerating rapidly. I had two options. Cut gradually over months or years as the shift plays out, or be honest about where we are and act on it. Now I chose the latter. What's perhaps even more surprising and ominous than the layoffs was the market reaction. Block shares spiked nearly 20% after Dorsey's announcement. Now, and I thought the reaction to this was very interesting. On the one hand, you had people saying, yep, this is it. The AI jobs apocalypse has begun. If you work a desk job, you are not safe. But there was a strong pushback as well, with others arguing Dorsey was just using AI and an excuse to trim a workforce that had become far too bloated during COVID Where do you stand on that?

Ann Barry (5:33)

I think this isn't a cop out answer. I genuinely think the answer is it was probably a combination of the two. Right. I think CEOs, I spend a lot of time on blue markets, talking to them, analyzing them. If it's been one where there is an opportunity to make difficult change and actually have something specific to point to, it just makes their life, frankly a lot easier. The reaction though, the share price was interesting, as much as 27% up last night in extended trading. Which tells you, number one, people were surprised, right? Because that was a big reaction. And number two, it tells them that they're expecting this to be a boon for Block's profitability. Something pretty interesting. Block's been investing heavily in AI tools to run more efficiently. It's been building its own tool called Goose. The market's probably going to call it Golden Goose at this point given that reaction and others we know have been doing it. Every tech company has been building its own internal tools. So you look at this and I bet the rest, honestly, I think the rest of Big Tech are going to say thank you to Jack Dorsey for now giving them permission to do something similar.

Neal Freyman (6:30)

Right. Axios is Dan Pramac said if CEOs get comfortable that this is okay and they will be, shareholders will reward them for it, it could set off a stunning layoff wave. So that's one side of the camp where basically CEOs have license now. They will get rewarded for laying off people citing AI. The other camp is saying, well, look, Block is not doing well. The stock is down 80%. They have, they had a 10,000 person work workforce. And when you compare that to other finte companies, that's just a much bigger workforce. Robinhood as 2500 employees. They have a market cap more than twice that of block. Coinbase has 4,500 employees, market cap of $50 billion, $20 billion more than block itself. And now Block is going to be 6,000 employees. So I think the skeptics are coming out and saying this doesn't necessarily validate that Citrini research paper that was the talk of Wall street earlier this week which said that we're about to see a white collar jobs apocalypse because of, I know this was just Jack Dorsey set over hiring during the pandemic trying to correct it.

Ann Barry (7:32)

I think also that the Trinity Research report, which by the way is so worth reading in its entirety, it feels as though the expectation for tech and fintech and these kinds of layoffs where I think folks are saying it's not quite fair game, but tech knows that it's on the table, they're going to get disrupted, particularly if they've been a disruptor themselves. Where it gets, I think really nerve wracking for people is other kind of white collar or service jobs right outside tech itself. So I agree with you. I think Block is, you know, this is probably a little bit overdue again a convenient message to you to do something really difficult. Hard to lay off 50% of your people. But if this spreads to non tech industries then I think people are going to pull out that Citrini research report again and start saying oh gosh, was this really predict, you know, a crystal ball?

Neal Freyman (8:15)

Okay, let's move on. The United States is experiencing something that it hasn't seen since the Great Depression. More people are leaving than are coming. According to the Wall street journal, the US experienced net negative migration in 2025 and that's only going to accelerate this year. It's a pretty staggering role reversal. For centuries, America was seen country that people around the world yearn to live in for its dynamic economic growth, freedoms and opportunity for upward mobility. But for many, the American dream doesn't just ring true anymore. Some of the departures stem from intentional policy by the Trump administration that cracked down on immigration. The US deported 675,000 people last year, while 2.2 million others self deported per the Department of Homeland Security. But that doesn't reflect a broader trend of Americans own citizens heading to foreign shores. While comprehensive stats on out migration are difficult to come by, residence permits, home purchases and student enrollment analyzed by the Journal indicate that American citizens are heading overseas in record numbers. When surveyed by the Journal on why they're leaving America, expats cited a buffet of reasons. Lower health Care and education, costs abroad, safety in the wake of school shootings, distaste for Trump's chaotic politics and the search for a better quality of life. And what do you make of this great American exodus?

Ann Barry (9:30)

Well, I sort of came in the other direction. Right. So very interestingly, one of the destinations for folks leaving is the United Kingdom. Americans are applying for British citizenship at the highest rate since records began, which actually only started recently in 2004. 6,600 applied in the year to March 2025. So look, as someone who came here, came in direction, I'm just going to say I still believe in the American dream. I think the dynamism here is amazing. I think the opportunity, if you want to go after it's really exciting. But it is expensive to be here. And I got to say some of the other things, Neil, that you touched on, if you go to somewhere like Europe or the uk, there is universal health care, you pay for it out of your tax dollars for the most part, you can supplement it. But it's a very different Education tends to be less expensive, which explains why actually more families interestingly are relocating. That's been a tick up in that trend. But also some people just want an adventure for a phase of their life. So that doesn't come to light in the numbers. But you do see people saying, I can be a digital nomads, I can take my laptop, I can still work from anywhere in some industries and some roles. And I think they're going after it.

Neal Freyman (10:33)

Yeah, they call the University of St. Andrews Mini Nantucket. Actually I do know a lot of Americans that did go there. But the march across the Atlantic island, pretty staggering. How many Americans are moving to Europe? The total number of Americans living in Portugal is up more than 500% since the COVID pandemic. In the past 10 years, the number of American residents has nearly doubled. In Spain and the Netherlands, there are now more natural born Americans living in Norway than Norwegian born residents in the United States. Maybe they want to get really good at cross country skiing. And then last year more Americans moved to Germany than Germans moved to America. The one stat that I thought that shocked me but may not shock people is what cohort of people is really driving this trend and it's young American women. A Gallup poll last year found 40% of American women aged 15 to 44 would like to permanently move overseas. And now by comparison, in 2023, nearly as many Sub Saharan Africans, 37% they are living in the poorest part of the world, wanted to do the Same

Ann Barry (11:33)

the demographic you just laid out, right? They're better educated than ever. They're earning more money than ever. I mean, things aren't still perfect, but in terms of their, the work and the jobs that they've been getting. So it kind of makes sense perhaps that they've now got the freedom and they got the financial means to go and do something a little bit different.

Neal Freyman (11:50)

And now this is another fun stuff. What was the last time I said since the Great Depression is the last time that more people left the United States than came? Well, this was in 1935. This is the last time more people left the US than moved in. And where they were going might surprise you. And the biggest destination in 1935 was the Soviet Union. More than 100,000Americans applied to work in tractor plants, steel plants, factories of the Soviet Union, and they were playing baseball over there in Moscow. Very interesting trend. It looks like it's only going to accelerate as we head into 2026 and 2027. All right, up next, I'm not sure this next bit of news will keep people from fleeing America, but it is a start. For the first time in more than three years, U.S. mortgage rates fell below 6%. Please clap. Yes. According to Freddie Mac, the average rate for a 30 year fixed mortgage dropped to 5.98% this week, hitting its lowest point since September 2022. The hope is that by crossing this psychological threshold, more buyers will enter the housing market to wake it up from a years long slumber. Last year was the slowest year for home sales in three decades and it couldn't have come at a better time. I know it doesn't feel like it, but spring is coming and that's the busiest season of all for homes changing hands as families with kids typically try to move in over the summer before the starts. Mortgage rates have been on a steady decline since peaking near 8% in January 2023. Pushing them lower is a number of factors. Lower inflation, general economic jitters, and the Federal Reserve cutting its benchmark interest rate three times. But so far, lower mortgage rates haven't really moved the needle in the housing market despite saving homebuyers hundreds of dollars on their payments each month with each tick down. Last week, when rates were a hair over 6%, purchase mortgage applications fell to their lowest seasonally adjusted level since April. Moving forward, and we'll see just how important that round number threshold is to

Ann Barry (13:39)

homebuyer psychology at 6% threshold, which still feels so high. And just to put that in context, if you look at all the Mortgages that are outstanding right now. So if you're lucky enough to have bought a home previously, 50 to 60% of those mortgages have an interest rate of under 4%. So even if we're seeing this drop to 6% does not still feel painful for you. It's two or 200 basis points more than you're looking at right this moment.

Neal Freyman (14:01)

Yeah, I mean I'm, it's not enough to make me look for a house because there are a number of other headwinds facing home buyers besides, besides high mortgage rates, prices, the thing that is the headline number are still up 50% since 2019. Electricity bills are higher, home insurance costs are higher. And then on many housing experts say, yeah, mortgage rates can come down all you want. But if the labor market is shaky, if you don't have job security, if you're concerned about getting laid off, then that's going to prevent you from buying a house as well. So this is one data point, one good data point for maybe thawing out this frozen over housing market. But it's not the complete picture and

Ann Barry (14:37)

it's also not always your choice as the borrower. Let's talk about what the lenders are doing. Okay, the lenders have made it harder to get mortgages. The standards have become a lot tougher. And to your point, if there's uncertainty around the labor market, you as the borrower perhaps don't want to take out a hefty mortgage. If you're the lender too, you're going to make sure that you've got real certainty around that person's employment profile. So I think there's two sides of that coin too. The other thing to look, property taxes have gone up. There's also the closing costs. No one talks about the legal fees, the brokers of fees. It all stacks up. It's all been going increasingly higher. So there's just so much going on here. The other thing too now, because I know that you've been following this, is just the number of homes that are being built, right, that people can actually afford. That stock isn't rising as much as people want it to. So there's a supply issue here, not just, not just the mortgage piece of it.

Neal Freyman (15:24)

A lot of people want this housing market to become unstuck because it's not just a, it's not just a housing problem. It is an economy wide problem because when the housing market gets going that freeze up so much economic activity elsewhere. We just had earnings from Lowe's in Home Depot this week. Their businesses are stuck in the mud unless people are moving into new homes and buying new appliances. So they say, yeah, growth is, is fine. It's pretty stagnant. There's nothing we can do. People aren't moving into new homes. So it kind of unleashes this economic boom when the housing market gets going. So pretty much everyone from Home Depot CEO to the Redfin CEO to the Rocket Mortgage CEO to all of us, our just wondering when people will start buying homes. Maybe this 6% threshold will be a little bit of a kick in the

Ann Barry (16:05)

butt, a little bit on the margin, but also the prospect maybe that will come down lower because, you know, we do have a new Fed chair coming in who's vocally been quite focused on making sure that interest rates are coming down. And so, you know, maybe that will ultimately lead to something getting unstuck too.

Neal Freyman (16:20)

All right, up next, a self driving car is coming to your neighborhood.

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Neal Freyman (16:29)

Been reading those inspirational sports quotes again?

Toby (16:32)

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Neal Freyman (16:40)

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Toby (16:50)

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Neal Freyman (17:02)

All right, quick personal update. I've been on the league and things are happening. I've been talking to some genuinely impressive women and yes, some have responded. I actually have a date lined up for me. That's momentum. What I like. It's not an endless scroll. It's curated. Every day I get a select batch of smart, interesting people who are actually serious about dating. It feels intentional, efficient, like someone filtered out the noise. So if you're looking for someone on your level, someone serious about getting serious, check out the league, download the app and apply today. Toby, do you know what advertisers care about more than anything?

Toby (17:38)

Don't tell me, don't tell me.

Neal Freyman (17:40)

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Toby (17:52)

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Neal Freyman (18:03)

launch quickly, optimize easily and get the results you're looking for. Get started today@disney campaign manager.com disney campaign manager.com it's time for Stock of the Week, Dog of the Week, the segment where we pick one stock that's the first one on the wedding dance floor and another that sits at their table picking out their overcooked steak. My Stock of the week is Waymo. Because if you can't already hail a robo taxi to take you home from the bar, it's probably not too far off. The self driving company is barnstorming the United states like a 19th century baseball team, announcing it had opened limited public rides in four more cities in Texas and Florida. Dallas, Houston, San Antonio and Orlando. For those counting at home, that means Waymo now has a self driving fleet of cars in 10 major US metros, with those four joining Phoenix, the San Francisco Bay Area, Los Angeles, Miami, Atlanta and Austin, Texas. And look out Midwest. Waymo is coming for you. On Wednesday, it said it's laying the early groundwork for operations in Chicago, the first time Waymo would be venturing into a cold weather city that has complex, often snowy driving conditions. It's pretty clear that a quiet self driving revolution is now underway with Waymo, leaving its rivals in the dust. Go back to last year and the Google owned company was doing 200,000 paid rides per week in just three cities, SF, L, A and Phoenix Mix. At the end of last year it was 400,000 in six cities and by the end of 2026 it's aiming for 1 million rides per week in at least 10, probably more. The money has followed. Earlier this month Waymo raised $16 billion at a valuation of 126 billion, leading to speculation that at some point Google's going to spin this giant off.

Ann Barry (19:41)

Maybe it's going to hit the IPO market that sort of slowed down a little bit. We all thought this was going to be the bumper, bumper year it was all going to come back. 2026 was the year of going public and there's a different narrative now, which is companies actually want to stay private for longer so see who ends up benefiting if Waymo does get spun out from Google's ultimate parent company. That's Alphabet. I've got to ask you though Neil, a question. You said this was like the first dance and everyone getting on the dance floor. So what is the tune? What gets you out that. What's the Neil Freyman jumper?

Neal Freyman (20:06)

Well, okay. Wedding. I love weddings, loves wedding songs. And this might be a. I, I don't like Cake by the Ocean. I think that is overplayed.

Ann Barry (20:15)

Okay.

Neal Freyman (20:15)

But there's another overplayed song that I really do love gets me out there. And this is just off the top of my head. Uptown Funk.

Ann Barry (20:20)

Yeah.

Neal Freyman (20:20)

Bruno Mars. It's a really good, like, I like it. You can, you can say you don't like it, but that is a song that always gets me out on the dance floor.

Ann Barry (20:27)

I love it. I love it. You got to resist the foot tap. And so let's talk about Amazon own Zoox, right? So if that were okay, that could be cake by the ocean for you, perhaps because it's the runner up on this. While Amazon still, as you said, testing its vehicles in a few US cities. But Amazon's pretty determined to get there and it's worth just talking about some of these other competitors because there are some folks overseas as well. You've got, we ride in China. That's going after this market pretty aggressively. So. So, you know, we'll have to sort of figure out how far behind also Tesla is. No one's talking about Tesla, but we know that they've got to do something. It's not just this sort of regular way consumers buy cars anymore. They're doubling down on Robotax.

Neal Freyman (21:04)

I would love to talk about Tesla. I think there's a reason that we're not talking about Tesla is because last year Elon Musk said that half of the US population would be able to hail a Tesla Robotaxi by the end of 2025. It is almost the end of February 2026. There are 44 robo taxis just in Austin, Texas. And there is a driving, there's a human safety driving monitor in the front seat. Waymo has 3,000 cars now in 10 cities and Tesla has 44 with a driver in the front seat in Austin, Texas. They haven't even filed a permit to start doing testing in California. So I am unclear what is going on at Tesla. Waymo is zooming ahead.

Ann Barry (21:49)

Zooming. Have you been in Waymo?

Neal Freyman (21:50)

I have not.

Ann Barry (21:51)

You have not? When, when are we going to know? And I want to. Can we go and do a field trip?

Neal Freyman (21:55)

I would love. But what I think is crazy about this is I know many people who have been in a self driving car. This is, that's kind of one thing I want to drive home. This is happening in many, many different

Ann Barry (22:06)

cities, but not here, but not here in New York.

Neal Freyman (22:08)

But, but there are many people who have taken self driving cars and it's something that we thought was a pure fantasy as recently as five years ago and then by the end of this year, who knows how many cities will will be able to to hail a waymo. So I mean it's going to just change everything. So I think it's a pretty remarkable revolution that's happening that maybe we're not talking about even enough.

Ann Barry (22:28)

Yeah, maybe it's not if it's when. And also, look, I just would People got very mixed feelings about Elon Musk. He does have a tendency to get the timing perhaps a little bit wrong on some of these, but when that team sets their mind to it, they do have shown they've got the wherewithal to catch up to deadlines and get there, you know, eventually, even if it's not quite ended 2025. We'll have to look out for the latest in terms of timing that Elon Musk announced the Tesla team have been

Neal Freyman (22:51)

indicating they just got, you know, 3,000 cars to go. Okay, my dog of the week is Papa John's. Things are not going well for the pizza father. Facing slowing business, the chain said it's going to be closing hundreds of stores, cutting back on menu items and laying off about 7% of its corporate staff. Changes are certainly justified because last quarter profits fell 42% year over year and revenue dropped 6.1%. Papa John said it's going to close down 300 stores by the end of the year year, most of which were not profitable and generated measly sales. It's not the only pizza company going through it right now because the US Is in a pizza depression. A pizza depression. As a category, pizza has gone from second place on the restaurant packing order in the 90s to sixth now. There's been virtually no growth in US fast food pizza sales in the last two years and as a result there's going to be fewer of them. Earlier this month Pizza Hut said it would close about 250 underperforming US locations while its owner Yum is exploring a sale. And rumor is Papa John's is shopping itself around as well. The stock fell nearly 9% yesterday, extending a years long slide to the bottom. Since peak Covid pizza delivery in 2021, Papa John stock is down 75%. Have they tried putting pineapple on it?

Ann Barry (24:03)

I hope so. I like pineapple on my pizza. He's like Neil is shaking his head and rolling his eyes right now. I like the Hawaiian pizza. So to your point Neil, it's interesting we look at these numbers, it's all It's a war of gaining share. Right. So if people aren't eating as much pizza, can we talk about Domino's?

Neal Freyman (24:19)

Let's talk about Domino's. I'm always down.

Ann Barry (24:20)

That's always what Domino's Pizza, it's gaining market share from its competitors, especially from those two. So Pizza Hut and Papa John suffering at the hands of Domino's dominance that actually reported same store sales growth of just under 4% better than its peers. And product innovation is one of the things I was very excited to see. I love stuffed crust pizza. I have very happy childhood memories of stuffed crust pizza at Pizza Hut. Domino's has been going there. It's. The uptake has been going really well. And just as broad a shift to McDonald's and Starbucks are also trying to figure out what to do when it comes to menu changes to try and get after the consumer who's now getting really, really picky about where they get their pizza and other food.

Neal Freyman (24:57)

Some of the mistakes at Papa John's were pretty shocking. This is. This is crazy to me. Different, different locations, different franchisees were cooking pizzas at different temperatures. I thought this thing was completely standardized. This would never happen at Domino's. But Papa John's, they' ovens are set to different temperatures. And this pizza that's supposed to be the same in San Francisco as it is in Atlanta, as it is in New York City. So I thought that was pretty surprising. They're also shaking up their menu too. They are ditching papadilla sandwiches and pop a bites pizza rolls, which. Why would you even get into pizza rolls? You can never compete with Totino's in the first place. But I think what you said is, is very accurate. This, this total pie, we should say is not growing at all. And Domino's. Yes. But Domino's is gaining market share and their CE actually very bullish. We are aiming to double our market share. And all of their competitors, Pizza Hut, Papa John's, those are the top two. They're aiming to sell themselves because things are just not going well. Meanwhile, pizza is overall in a pizza depression because there's so many other choices for people to eat when it comes to opening Grubhub or DoorDash or any sort of delivery app. You got Thai, you got Mexican. There's just any sort of number of competitors that are competing with pizza right now. So I wouldn't want to be a pizza CEO at this point. Okay, let's sprint to the finish with some final headlines in today's edition of Is this Real Life or Black Mirror. Burger King is rolling out an internal AI chat bot that will evaluate employees friendliness, such as whether they say please and thank you to customers. Known as Patty, the chat bot is part of a broader assistant platform that lives in employees headsets and will help them with meal prep, provide alerts for maintenance or inventory issues, and yes, check on their politeness levels. The chain's chief digital officer told the Verge that this is all meant to be a coaching tool, saying that BK is iterating on capturing conversational tones to more precisely measure friendliness. There was a lot of backlash to having AI Police burger employee friendliness, but at the same time Squidward could probably have used this.

Ann Barry (26:55)

I actually love this. I think politeness is great and the idea that this is going to become embedded in our ears. Here's a question for you. Do you think this is going to make its way into smart glasses and we're all going to end up walking around being prompted to say please and thank you to each other?

Neal Freyman (27:07)

Oh, that's interesting. I would turn that setting off.

Ann Barry (27:10)

You would?

Neal Freyman (27:10)

Yeah, I think, I think politeness is perhaps. And saying please and thank you is perhaps in the domain of parents instructing some tech companies AI telling us whether to say please or thank you or to SM or to make eye contact. I would. If that setting comes by default, I would probably turn it off.

Ann Barry (27:25)

I know. Maybe it'll keep people from leaving the country because they'll be just, you know, a friendlier set of interactions that prevent people from going to Lisbon.

Neal Freyman (27:32)

All right. Finally a new post workout snack just dropped Doritos. Yesterday Pepsico decided nothing was sacred anymore and announced doritos protein in two flavors. Nacho cheese and sweet and tangy barbecue. A 1 ounce serving of these will contain 10 grams of protein protein compared to 2 in the standard version alongside 0 grams of shame. Because at this point what else is there to put protein in? Starbucks has protein cold cold foam. Chipotle has protein bowls. Dunkin has protein milk. Subway has protein pockets. The good news and is gym bros and potheads used to have nothing in common. Now they can bond over Doritos protein.

Ann Barry (28:07)

Yeah. Heading to the gym this March, getting back on the wagon. I can see sweet and tangy barbecue Dorito protein chips in my future. Neal.

Neal Freyman (28:14)

It's just crazy how much protein is infiltrated the food supply. Doritos said that 86% of Americans are actively adding protein to their diets. 70% want protein and salty snacks. So you can understand why executive would look at these numbers and say well might as well just turn every single thing we have into a protein type a protein product. I think there might be a tipping point at some point where everything becomes infused with protein and we're saying, okay, maybe we're getting too much or we don't necessarily need it. Maybe our bodies actually can't even handle it. Obviously have to do a taste test to see how this.

Ann Barry (28:47)

Yes, I love that. Nacho cheese for you. Sweet and tangy barbecue for me. We'll switch it out.

Neal Freyman (28:52)

Love it. Okay, that is all the time we have. Thanks for starting your morning with us. Have a wonderful Friday and an even better weekend. And thank you so much for stepping in these past few days. I know you are very busy, but it's been a lot of fun. And remember, if you want more and she has Brew Markets recapping the day's Wall Street News each afternoon, wherever you get your podcast. And if you'd like to reach us, send an email to Morning Brew daily at morning brew d.com or DM us on Instagram at Ambi Daily show let's roll the credits. Emily Milian is our executive producer. Raymond Lu is our producer. Our associate producers are Olivia Graham and Olivia Lake. Hair makeup is enjoying a Pasta Sonata in Porto. Porto Hair and makeup is enjoying a Pasta sonata in Porto. Devin Emery is our president and our show is a production of Morning Brew.

Ann Barry (29:36)

Great show. Say Neil, have a great weekend.