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September 19, 2023 • 20 mins

Prepare yourself for a rollercoaster of a ride as we plunge headfirst into the controversy surrounding the recent Taylor Swift concert. We promise you an insider's glimpse into Ticketmaster's dubious monopoly on ticket sales as we take off the gloves and expose their questionable tactics. Picture soaring ticket prices due to artificial scarcity, robots and algorithms playing the market, and the unexpected ripple effect of the coup in Russia. Get set for an eye-opening discussion that will make you rethink the next concert ticket you buy.

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Episode Transcript

Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Hello and welcome to Foundation Nation.
I'm your host, matthew Cote,along with Daniel.
We're both high school educated, masters of nothing and gifted
with a knowledge of wealth a lot.
Today on the podcast, we'regoing to talk about some
interesting recent goings on inour beautiful state and maybe
even a few things going on inthis amazing round thing we call
home.
Hello, welcome to FoundationNation.

(00:26):
I'm Matthew, your host, alongwith Daniel.

Speaker 3 (00:30):
Hello, I'm Daniel, your co-host.

Speaker 1 (00:33):
So there's a lot of planes going by today, oh yeah.

Speaker 3 (00:37):
I guess everyone is going on vacation or something.

Speaker 1 (00:40):
Vacations should be over.
They're getting out of thesmoke.
They're escaping from the smoke.
Escape from the smoke.
Well, today's actually looksfinally a little bit better.

Speaker 3 (00:50):
Yeah, they're finally probably trying to manage it,
but it looks like the weather isalso helping.
Yeah, the wind, the wind and alittle bit of rain.

Speaker 1 (01:01):
Oh yeah, we had a couple days of rain.

Speaker 3 (01:03):
Yep, it kind of brought the smoke down a little
bit.
Yeah, that's good, that'shelpful.

Speaker 1 (01:09):
So I was reading the newspaper and there was that
Taylor Swift concert oh that wasMayhem.
The second, did you go?

Speaker 3 (01:23):
No, no, no, no, no, no, no, no no.
I don't go to such events.
It's too crowded.

Speaker 1 (01:29):
So I guess she came and had a concert and then a lot
of people couldn't make it, soshe said she'd do another one.
She came back, did another oneand it was just completely
Mayhem.
People were paying, you know,hundreds and hundreds of dollars
for these tickets, all the wayat the top, and then they and on

(01:50):
top of that, the day of theconcert, it was just really bad
smoke, really bad you know airand hot.
And it was.
It was because I was down inSeattle and the wind was there
was no wind, it was just dead.
So it's like the worstenvironment, right, super hot,
smoky and just no wind at allfor relief.
And so these people are sittingin the concert waiting for

(02:16):
hours and hours to get in.
They finally get in and theysay someone or these robots or
something, these AI things youknow basically bought the ticket
, bought one ticket and sold ittwice and Ticketmaster had
nothing to say about it.

(02:36):
They didn't even know, theyweren't aware.

Speaker 3 (02:38):
Now, ticketmaster is always aware of everything.
They're just manipulating themarket any way they want,
because they are.
I mean, you cannot buy anyticket to anywhere without
Ticketmaster.

Speaker 1 (02:51):
Yeah, what's going on ?
Do you know anything aboutTicketmaster actually?

Speaker 3 (02:56):
They monopolized everything.

Speaker 1 (02:57):
They own it all.

Speaker 3 (02:59):
Oh yeah, and they're getting paid for that.

Speaker 1 (03:04):
Yeah.

Speaker 3 (03:04):
And on top of it, we tried to get some tickets on a
concert, on a jazz concert BigBang Jazz Concert.
There is no way to get aroundTicketmaster.
The only way is to go actuallyto the place where concert is
going to be and buy ticketsthere.

Speaker 1 (03:26):
Oh, right, at the ticket booth.

Speaker 3 (03:28):
Yeah, right at the ticket booth, otherwise you have
to pay Ticketmaster, like Ithink, like $15 to $20 on the
top of every ticket.
Geez, that's a whole bunch ofbaloney.

Speaker 1 (03:41):
Yeah.

Speaker 3 (03:43):
I mean, they're just ripoffs.

Speaker 1 (03:46):
So if you're irritated with Ticketmaster, you
just go to the venue early andbuy tickets.
Yep.

Speaker 3 (03:54):
But they're like oh, we allocated only 3% of all the
tickets to sell through thebooth.
Everything else is online.
Sorry.

Speaker 1 (04:04):
Yeah, yeah, that's.

Speaker 3 (04:07):
Yep, yep.
The ticket scheme is very wellknown.
It's not only in Seattle or US,it's everywhere and there are
ways to fight it.
But they are not willing to,because it is business for
everyone, especially for theperson, for the artist.

(04:28):
They take like 20% of all thetickets and they sell them
themselves.
Oh, really.

Speaker 1 (04:35):
Yep, oh, that's interesting.
I mean, well, hopefully,legislation and enforcement,
they can start reining in thewild wild west of ticketing.

Speaker 3 (04:46):
Yeah, they need the class action lawsuit for this
thing.

Speaker 1 (04:51):
There's a how do you fend off?
So basically, ticketmaster hassome kind of robotic bot system
designed really well, kind oflike a Netflix, right?
Yep?
Yeah, more or less the sameidea, where they're just
dominating it because they havesome kind of massive algorithm

(05:14):
or computer situation that'sjust dominating everything.

Speaker 3 (05:18):
Yeah, but what scammers are doing?
They're using thousands ofdifferent computers to access
and buy just one ticket, right?
And then, like one or two orthree or five or ten, they're
buying just one, but from adifferent machine.

(05:39):
Oh, okay, so they're creatingvirtual machines and each one
buys just one ticket, butthey're all doing it at the same
time.
Just yeah, all tickets are gone.

Speaker 1 (05:54):
Huh, yep, for what type of things Like music?

Speaker 3 (05:58):
It doesn't matter.
If it is popular and they canget money on it, they sell them.
They just sweep it.
For example, if you want to buya ticket for a movie, it is
readily available, unless it isjust first like three, four days
of like a premiere.
Right, yeah, it just came out.
Then you may not be able to gettickets right at the last date,

(06:24):
but still two weeks in advanceyou can probably get some.
Yeah, yeah.
So anything that is like really, really popular and you involve
like not hundreds of people buttens of thousands, then you're
oh, there is like a couple ofmillion bucks right there.

Speaker 1 (06:45):
Yeah.

Speaker 3 (06:46):
From one concert.

Speaker 1 (06:47):
Hopefully they don't start getting into like airplane
tickets and stuff.

Speaker 3 (06:51):
Well, airlines, they are struggling right now.
They cannot afford making ithappen.
Yeah, on the other hand, what Iheard in Russia when that
pre-Goshen coup was right, thatsame day, lots of progressive

(07:18):
people decided to leave country.
Can you imagine?
Let me calculate the ratio, soit's a hundred or one 200,000.
It was.

(07:39):
The tickets were, I would say,like up to 10 to $50,000 for one
ticket to Dubai, jesus Christ,yep, and they cost like 200

(08:02):
bucks or something.
So people were paying a lot ofmoney to get the hell out of
there.
To get the hell out of there,yep, Wow, I mean, that was
ridiculous.
I mean, within like hours, alltickets were sold.

Speaker 1 (08:18):
Yeah, like completely sold out and crazy pricing, and
they also.

Speaker 3 (08:22):
Yep, yep, and in two days, all of them, once it was
all over.
It was all over like in one ortwo days or whatever.
Uh, many of them started tocall back to social media.
Oh, I'm broke.
I used all of my money just toget out.
You get the hell out of here.
No, I couldn't buy it.

Speaker 1 (08:43):
Well, walking around in Dubai for three days.

Speaker 3 (08:46):
Yep, and there was no money or nothing.
Yeah, what should I do?
Give me some money, or yeah,yeah.

Speaker 1 (08:53):
Well, now, that guy, the guy that tried to do that,
now, apparently he's either deadbecause Putin killed him or he
faked his death.
That's that, those are my twooptions, you know.

Speaker 3 (09:05):
There are only two options.
Yeah, because it was basicallyblown out of the sky.

Speaker 2 (09:10):
Right.

Speaker 3 (09:10):
Yeah, why?
Whether with a rocket or withexplosive on a plane, yeah, one
or the other, one or the other.
However, it is either he's deador he's alive, and we will
never see him again.
So in either situation, youwill not be able to come to any

(09:32):
sort of conclusion.
So let's, let's call it thathe's dead.

Speaker 1 (09:35):
Yeah, yeah, I might as well be.
Yeah, he's not going to beworking anymore.

Speaker 2 (09:43):
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Speaker 1 (09:56):
The, the smoke around here has been making me crazy
and I was like I was kind of Iwas thinking about you know?
Well, I was mostly justthinking about you know the
crews and stuff and making sureeverybody's working in a healthy
way, you know, and stuff likethat.
But then and then I startedthinking, well, where the hell

(10:17):
is this smoke coming from?
You know?
I didn't even know.
It seemed like everybody in thewhole planet knew where the
smoke was coming from, but me,and so I was.
I was reading about it callcomes from Canada.

Speaker 3 (10:31):
Yep, canada, canada fires have been going for years,
but there is a let's call it aconspiracy theory.

Speaker 1 (10:42):
Oh really, I haven't heard, yep.

Speaker 3 (10:44):
What is it?
Few few years back, we had abig fires in in Siberia, russia,
right?
So what they were?
They were cover up for a wholebunch of wood that was cut down
and sold to China.

(11:04):
If you can see it from space,how much wood was cut?
Wow, yep, and I think there aresome theories that Canadians
did the same thing.
They illegally cut some woodand now they're covering it up
with fires.

Speaker 1 (11:25):
Damn.
I never even thought of that.
Some of a bitch Canadianbastards.

Speaker 3 (11:31):
They are very progressive country, yeah, very
progressive, yeah, in many ways.

Speaker 1 (11:36):
Yeah Well, they got a king or something, don't they?
Or what do?

Speaker 3 (11:39):
they, they have, they have a whole bunch of stuff and
they're debating in theparliament Is very weird.
Yeah, they cannot address theperson.
They have to address them in asort person.
That is like weird.
I mean, you cannot really sayyou.
You got to look the other wayand argue with them, you can see

(12:01):
or whatever, their organizationwhatever, but you cannot
address them directly, directly.

Speaker 1 (12:08):
It's just funny.

Speaker 3 (12:10):
Yeah, Every time I'm watching it, it's like what the
hell is going on.
What's going on?

Speaker 1 (12:15):
The, the, the.
I remember watching.
Have you ever seen how they inlike parliament or whatever in
England?
How they do it?
They kind of sit in this littleroom and it's all these benches
and stuff Really small room forthe whole country and they sit
around and there's a table inthe middle and they're all
arguing and and there it seems.

(12:37):
I have no idea how it works,but it seems like on one side of
the table is one group and onanother side of the table is
another group and they're kindof arguing back and forth and
every once in a while somebodysays something and then all the
people that are sitting aroundthey go hey, oh, yeah, yeah,
yeah, yeah, yeah, yeah, yeah,yeah yeah, yeah, yeah yeah, yeah
, yeah, yeah, and I'm like whatthe heck is?
this is some kind of voodoo s***.

Speaker 3 (12:58):
Anyway.
Well, this is how theyentertain themselves.

Speaker 1 (13:02):
Yeah, yeah, let's, let's.
It's got a little miniature,it's like miniature football in
there, uh-huh, and it looks likesomeone.

Speaker 3 (13:09):
Someone just comes out and just kinda gives a
speech.

Speaker 1 (13:12):
Yeah, and everybody is listening, listening,
listening and they're like nahyeah yeah yeah, I forgot to ask,
or I forgot are you intofootball or not?

Speaker 3 (13:23):
Yeah.

Speaker 1 (13:24):
I mean, yeah, september 10th is the first game
.
Yep, I'm excited.
I'm going to go to theCincinnati game in Cincinnati
because my kid stationed overthere at the military base, so
there's one game playing againstthe Cincinnati Bengals and the
Seahawks, you know.
So we're going to go to thatone.
And the?

(13:44):
Um, what the heck was it?
It was, uh, the.
You know the.
What is it?
Joe Burroughs is thequarterback for the Cincinnati,
this kid is.
He's just hilarious to me howhe thinks he's and how he's so
shiny and sparky, wears cheetahoutfits and stuff.
You know.

Speaker 3 (14:03):
Well, there is a lot of controversy in how players in
the football yeah dress andbehave.
I mean, some of them are justsimply looking for fame in other
ways than football.
If they cannot get it in a waythey are playing, they are
getting it some other way, yeah.

Speaker 1 (14:26):
Well, so all the fires are coming from right now
the smoke we have is from Canada, right?
Yep, yep, yep.
So firefighters had an epicfight to save a community.
It seems like you know we gotlike what are the fires?
We have the yellow knife, wehave fires around Kilawana,

(14:47):
northwest Territories.
It's just like fires everywhere.

Speaker 3 (14:51):
Yep and the yellow knife.
They actually had to evacuate20,000 people, so it's like a
ghost town right now.

Speaker 1 (15:01):
That seems like a lot of people.

Speaker 3 (15:03):
Oh yeah, I mean, how can you relocate that many
people and find a shelter forthem?

Speaker 1 (15:08):
Where did they go?
Did you hear?

Speaker 3 (15:10):
Well, some of them went to their relatives, but
some persistent ones stayed tomaintain the property or
whatever.

Speaker 1 (15:21):
Water their roof.

Speaker 3 (15:22):
Yep, and some of them are actually helping
firefighters to create thesebreaks in the forest to actually
stop the fire, and it lookslike they are succeeding because
the yellow knife hasn't beenaffected by fire.
Hmm.

Speaker 1 (15:42):
Let's see so 5700 fires, 53,000 square miles from
one end of Canada to the other.

Speaker 3 (15:52):
That's probably the size of a pretty large country
in Europe.

Speaker 1 (15:57):
That's a that's.
Do you feel?
Like you know, the fires arejust out of control these days.

Speaker 3 (16:06):
Oh yeah, they are, because some some people are
claiming that because of aweather change, climate change
it's got hotter and drier andeverything.
But it is a well-known factthat over 97% of fires are

(16:26):
started by humans.

Speaker 1 (16:28):
Right.

Speaker 3 (16:29):
Basically, if everyone becomes more
responsible, I would say wecould cut down on fires
drastically.

Speaker 1 (16:39):
Yeah, that'd be nice.
Yeah, I can see I could seewhere they'd actually at some
point maybe make it illegal togo camping without a permit, so
they can track people and findthem if a fire starts in the
area they go.

Speaker 3 (16:56):
One of the fires in Oregon started like this the guy
, he was just a lone hiker, yeah, and he just could not live
without a cup of coffee at thesummit A cup of coffee.
Yeah, yeah.
So he brought his jet boil orwhatever, and during his making

(17:18):
of coffee, something caught onfire.

Speaker 1 (17:22):
He started a whole fire for a cup of coffee.

Speaker 3 (17:24):
Yep, just, he could not live without one, and he
just started the fire.

Speaker 1 (17:29):
Well, you know I mean that sounds insignificant to,
but to me in the morning I'dburn a whole mountain down for a
cup of coffee.

Speaker 3 (17:35):
Well, if, if everything is bone dry and you
know that there is a yeah, whatare you doing?
Extreme everything.
Yeah, just you just follows agoddamn rules.

Speaker 1 (17:48):
Yeah, all their Fuck well in it.
And you tell me that before yousay listen, matthew, you can go
camping, but you can't have acup of coffee in the morning.

Speaker 3 (17:58):
I just wouldn't go camping, you see, there is a,
there is a way.
Yeah, makita, makita, makitamade a coffee maker, battery
powered coffee maker Yep.

Speaker 1 (18:12):
Hmm, okay, makita, yep, do you wait?
You don't have it, do you?

Speaker 3 (18:17):
I don't, because it costs like 900 bucks 900 all.
Jesus, no, no, no, no.
Nine hundred dollars is theirmicrowave.

Speaker 1 (18:25):
Oh, the Powered microwave.

Speaker 3 (18:27):
Oh, that's cool that one microwave itself without
batteries is 990 something,dollars 928, and I think the my
the coffee maker is like 400bucks.
Okay so, but you can have themwithout fire, right, you can
heat your food at a job siteanywhere, shit.

(18:49):
But you see, you have to bringall these batteries and the
microwave and the coffee maker.
That thing weighs a tonprobably.

Speaker 1 (18:58):
You know what that?
You know what that sounds liketo me, something that should go
at the Matt V a Christmas party.
I'm gonna look into that.
That would be awesome, right.

Speaker 3 (19:06):
Yeah, but you cannot just Give away just a microwave
or just a coffee maker.
You have to add batteries andthe battery, batteries and
chargers because it will bepointless.

Speaker 1 (19:21):
Good luck finding this special battery.

Speaker 3 (19:23):
Yeah they're like 200 bucks a battery.

Speaker 1 (19:26):
Wow.
Well, that's gonna be a goodprize.
We'll have to do push-upcompetition for that one.
Most push-ups gets it.

Speaker 3 (19:33):
Yeah, sure.

Speaker 1 (19:34):
All right.
Well, I'm Matthew and this isDaniel and this is foundation
nation.
Thanks for tuning in and have agreat day.

Speaker 3 (19:39):
Thank you for joining us.

Speaker 2 (19:41):
Bye, bye Foundation nation is sponsored by Seattle's
tiny houses.
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