Voting Against Elon, CA’s Cannabis Cafes & Peloton’s Diddy Pause

ICYMI: Hour Three of ‘Later, with Mo’Kelly’ Presents – A look at the Tesla investor group that’s asking the company to vote against Elon Musk’s $40 billion compensation package AND California’s State Assembly passing AB 1775; making way for the establishment of “Amsterdam-style cannabis cafes”…PLUS – Thoughts on Peloton’s decision to put a hold on all music relating to Sean ‘Diddy’ Combs after the release of video showing “Diddy” assaulting his ex-girlfriend Cassandra “Cassie” Ventura - on KFI AM 640…Live everywhere on the iHeartRadio app

Episode Transcript

(00:00):
You're listening to Later with Moe Kellyon demand from KFI Am six forty.
Mister moke Keller here, we're liveeverywhere on the iHeartRadio app and Elon Musk
News. There's a group of Tesla'sshareholders and they're asking investors to vote against
the compensation package for Elon Musk.Get this, it's worth presently more than

(00:26):
forty billion dollars. I didn't sayforty million. I said forty billion,
one thousand times more, forty billiondollars for Elon Musk. And if you
notice that forty billion is somewhat similarto the forty billion that he paid for

(00:50):
Twitter. Yeah, you're not theonly one who noticed that. If you've
been paying attention to Tesla's fortunes.As of late, the stock price has
fallen considerably since the beginning of theyear. It has lost twenty five percent
in value. At present, itsstock prices one hundred and eighty six dollars.

(01:11):
It started the year at two hundredand forty six dollars thereabouts, and
this is an improvement of where itwas just a month ago. It had
dipped to as low as one hundredand thirty eight dollars if you were a
big Tesla investor, then you've lostabout a quarter of your valuation with respect

(01:33):
to your Tesla shares, and soinvestors are becoming more and more vocal.
This is actually a continuation of aconversation we've had where we see and we
hear Elon Musk almost on a dailybasis. He will make his pronouncements on
X slash Twitter, they'll be coveredin the news, or he'll give an
interview to someone or somewhere, andyou hear all the things that he's talking

(01:55):
about, but it doesn't seem thathe's really focusing on Tesla. It's almost
impossible. The shareholder group, whichincludes New York City Comptroller blad Lander,
SLC Investment Group, and Amalgamated Bank, set in a letter to shareholders that
ratification of Musks pay package would donothing to promote Tesla's long term growth and

(02:19):
stability. And also they made theargument that Elon Musk is not a full
time CEO, which is accurate.He's only a part time CEO. He
has spread between SpaceX and tweeting onX. And also, I guess Tesla
and if you looked at the stockprice, you'd have to wonder whether he's

(02:40):
putting in the adequate sufficient amount oftime to help Tesla improve its fortunes.
It's received a lot of bad presslately, with the firings over at Tesla,
the recalls and more. It doesn'tseem to a reasonable person that Tesla
is headed in the right direction ina corporate sense. It's be pretty difficult

(03:05):
to justify a forty billion dollar compensationpackage given the most recent fortunes of Tesla.
I don't know if this is goingto a snowball and you would have
like a corporate takeover and a removalof Elon Musk, but this would be
the first step. You can seethat the people who were quiet before are

(03:29):
getting increasingly louder. The group alsosaid quote shareholders should not pretend that this
award has any kind of incentivizing effect. It does not. What it does
have is an excessiveness problem, whichhas been glaringly apparent from the start.
They also noted that as shareholders ratifythe compensation package as possible that another plan

(03:53):
will be put forth next year.I don't know what is going to happen
here, but I do know thatat more and more people inside of the
Elon Musk Empire are looking to ElonMusk for better leadership. Last month,
Tesla asked shareholders to restore must paypackage, which was valued at fifty six

(04:15):
billion at the time fifty six billion, and at that time, it was
also asked to shift the company's corporatehome to Texas. The changes will be
voted on by stockholders at a Junethirteenth annual meeting, and I'm quite sure
if the stock price should be worseoff between now and then, that will

(04:35):
directly impact the vote. Maybe ElonMusk will put more time and attention into
Tesla's problems and also issues, orhe'll spend more time tweeting. I don't
know how he has enough time toput this way. I don't know why
he ever does anything on X.I don't hear of Mark Zuckerberg spending a

(04:57):
lot of time posting on Facebook.I might be wrong. He might have
a burner account, but I've neverseen him post all of his opinions.
I see Mark Zuckerberg possibly working out, doing some Brazilian jiu jitsu and keeping
him shape, but that's about it. He's not spending his time on social
media. Elon Musk he spends alot of time on X, and it

(05:19):
sends a message to investors that he'snot exactly focused. And if Tesla starts
to fall, then you'd have towonder what is going to happen to SpaceX.
And obviously, well, I shouldsay obviously, seemingly, X seems
to be a lost cause in awealth generation aspect. It's not bringing in

(05:42):
any advertising revenue, it's not growingas far as unique users. It is
not doing anything which originally Elon Muskplanned for it to do. And he
said many times without the advertiser revenueand without growth and subscriptions, X slash
Twitter as you know, it willfail. Well, it seems like it's
just a matter of time before heactually pulls the plug and declares bankruptcy.

(06:06):
But does it take Tesla with it? That is the question. It's later
with Mo Kelly Canfi answers forty liveeverywhere on the iHeartRadio app, and we're
gonna go back to California. Greatnews. The California Assembly has passed a
bill allowing for an Amsterdam style cannabiscafes to take root no pun intended here

(06:30):
in the state. We'll talk aboutthat next. You're listening to later with
Mo Kelly on demand from KFI AMsix forty Starbucks coffee houses. Y'all might
be in some trouble. There's abill which is passed the State Assembly and
it would allow amsterdamn style cannabis cafeshere in California. And it was passed

(06:57):
by a vote of forty nine tofour, so it is pretty much unanimous.
It is not something which passed onpartisan lines, wanted on both sides
of the aisle. And the thingis, it's not a done deal because
Gavin Newsom vetoed in earlier version ofthe bill. But there is legislative legislature

(07:20):
support for this and what does itmean. Well, the bill would authorize
local jurisdictions to allow licensed cannabis retailersto prepare and sell non cannabis food and
non alcoholic beverages. It'd be likea coffee house. The bill would also

(07:42):
allow the cafes to host live musicand other performances, you know, like
a coffee house. Even I didn'tknow this next part. Under the current
state law, consumers can consume cannabisat a dispensary, but dispensaries at least
up until this point, penning thisBill of is signed in the law,
they couldn't legally sell non cannabis productslike coffee and food, but they like

(08:07):
they can in Amsterdam. This couldbe monumental in terms of how people would
congregate and people would hang out.You know, how you would go to
Starbucks, use their internet, maybedo your book report or your turn paper,
or hang out with friends to ameeting. Imagine if that ability and

(08:30):
capability was extended to these dispensaries whereyou would go in and you could buy
your product. You could sit down, listen to some live music, maybe
eat an edible or two, listento some spoken word. That would fundamentally
change probably our economy on many levels. I don't know if it's going to

(08:52):
get back to Gavin Newsom, andI think Governor Newsom knows that it would
have all sorts of unintended consequences onthe economy and how that would impact competition.
And I say this to someone,I don't do marijuana. I don't
do cannabis. I don't say thatas a value judgment. It just doesn't
do anything for me. It's notmy thing. The smell alone just repulses

(09:15):
me. I can't even get pastthe smell. I can't speak for Stephen,
can't speak for Twala or Mark.Whatever y'all do is what y'all do.
It's just not my thing. Thesmell has already been always been a
turn off for me. But Ican see how this would change how people
would congregate and hang out. I'venever been to Amsterdam, Mark, have

(09:35):
you been to Amsterdam? I haveyears and years ago, and naturally I
tried. At least some of thelocal material had to be led back to
my hotel room, like I wassnowblind and I had a shirpa. Can
you paint a picture for me whatthese places were like and how would or
it would or would not translate toCalifornia. Well, my memory is that

(09:56):
it was very cozy, very casual. I didn't see it any problems nobody,
you know. It wasn't like soccerhooliganism. I mean, and part
of the problem, like if wetalk about, say hooliganism, the last
call hours in the UK are reallyearly, so people binge, drink and
they get out of control and violent. I didn't see any of that in
Amsterdam. It was all perfectly mellow. To use to use a word kind

(10:20):
of related to weed. I didn'tsee any problems at all. The only
in fact, the only problem Ihad was that I went into a cafe
and tried one of the chocolates andthe guy said, just eat half of
one of those. So I ate, and you ate all of it.
I ate two of them, boy, And so you know the problem with

(10:43):
I mean, there's going to bea learning curve, is what I'm trying
to say. But I think thatthings have been decriminalized in the United States
long enough so that the curve won'tbe that bad with us. Yeah,
I'm not in the way of progress. I think this is an eventual We
will get there, and we've beenmoving towards this in an incremental fashion.

(11:05):
But it would change our economy ifyou could have people hanging out and eating
at these dispensaries and listening to livemusic or a poetry slam. You really
paint a hellish picture there. No, no, no, it's not a
hell's picture. I'm just saying,this is where all of this is moving.
Yeah, yeah, Heaven forbid,people relax and have fun in public.

(11:28):
I didn't make a value judgment twelve. They have Wi FI. It's
over for the Starbucks world, right, You might sit there and get online
and do your work and have anedible along with a cappuccino. Yeah,
you're done, You're done. Thatwould transform what these group places would be.

(11:50):
That Starbucks is, that is theplace where people usually go to group
have these impromptu meetings. You canhang out and depending on if it's like
a smaller coffee house, it's notuncommon. If you went to like a
Tanners or a Piece, they wouldhave live music and you if you open
this up to dispensaries, there's noway that these other places could compete because

(12:13):
the hardest part, or the mostdifficult part is the dispensary aspect of it.
The cost of introduction into that marketis astronomical from what I understand,
And if you allow them to provideextra value where you can buy product and
sit there and use product and beentertained, there's no way coffee houses would

(12:35):
be able to compete. Hell,libraries would be able to compete at that
point. Yeah, that's exactly whatlibraries need. By the way, hookahs,
they need hookahs in libraries. Yeah, that's the closest thing we have
to is a hookah lounge, oras I call it, a hook a
lounge hook it please. But thespread of these things is beneficial in at

(13:00):
least one sense, which is thatwe will see less weed tourism, which
is where you get some of thetroublemakers. The more common it is,
the less people are going to travelfor it. I'll take your word for
it. I just don't have anyfirst hand knowledge or reference point to say
where all this is, where it'sgoing to lead, whether it's good or
bad. I just know from aneconomic standpoint there's too much money to be

(13:22):
made for it not to happen.So I think it's destined to happen,
if not immediately, sometimes shortly thereafter. The situation we had could not last
indefinitely. Too many people's lives.We are being ruined for no good reason
at all. Well, I've alwaysbeen for decriminalization, but that's a separate
conversation for as opposed to proliferation orrecreational use and how available it is,

(13:46):
I think those are two different conversations. I don't think it ever should have
been criminalized. Well, as wepointed out before, one of the main
reasons it was was during the Nixonadministration. Nixon wanted to clamp down on
hippies and minorities. And I thinkI think we've had enough of a time
out on that now, don't you. Well, that's a that's a loaded

(14:07):
question as it was. Yeah,ooh look at the time. See you're
listening to Later with Moe Kelly ondemand from KFI AM six forty. Me
personally, I never quite understood thewhole Peloton thing. I'm not going to
pay you money to yell at me, scream at me, insult me virtually

(14:30):
month to month a month. I'mjust not going to do that. I'm
not I'm not built that way.Yeah, especially these absolute strangers. But
I have friends who love Peloton love. I just don't get it. But
Peloton is back in the news.You might have heard the news report.
At this point they are pausing theuse of any and all Diddy music on

(14:54):
its platform. They're saying that they'retaking action and they won't be using any
Combs this music in classes moving forward. Now, Twala, I need your
insight on this as well, becausewhen and I'm someone who worked in the
music industry, as did Twala Sharp, when they say Sean Combs' music,
does that mean just the music thatyou can hear his voice or does that

(15:18):
mean the artists that he helped produce? Does that include Mace, Does that
include Notorious Big? Does it includetotal? You know what I mean when
they say Sean Combs's music. Hewas a master super producer and his fingerprints
are on a lot of music,even though he wasn't probably featured in the

(15:39):
song. When reading this press releasefrom Peloton, it seems that they are
targeting anything having to do with SeanCombs, which would be the entire bad
Boy catalog. I don't know ifthat extends all the way to say remixes,
because as you were pointing out,he has remixed records for almost every
R, R and B and orrap artist that came out in the mid

(16:03):
to late nineties through the early twothousands, So his impact on music is
indelible. And that's a lot ofmusic that Peloton will be looking to cut
or pause. So I'm thinking thatwhen they say this, they are talking
about puff Daddy music in particular,anything that he is featured on they will

(16:23):
no longer be playing. And thisis not new for Peloton. They have
taken steps to remove someone's music catalogfrom their classes before. They did it
with Yay Kanye West, and thatwas dating back to his anti Semitic rhetoric.
Peloton said back in twenty twenty twothat they would no longer play Yay's

(16:44):
music in any of their new classes, and they also said that they purged
all of Yay's music from the platform. And that's another question. When you
say all, does that include whenhe was doing a verse on the Brandy
record, you know, talking aboutour love. I always wonder, I
Beginek they would have anything having todo with Kanye. And that's saying a

(17:07):
lot for Peloton because I know thatA Stronger Record is one of the most
played records in the Peloton catalog inany music class period, but that one
in particular. Diddy has a lotof music that actually plays towards Peloton and
the workout courses because a lot ofhis music back in the day was really

(17:30):
energetic, almost workout kind of music. So this does stand to impact him,
but more importantly, Peloton cutting itout, it says a lot for
anyone else who would be looking tomake a move against supporting Diddy property more
because this is going to go furtherthan just Peloton. Okay, And here's

(17:52):
the question in the conversation we alwayshave as far as cancel culture and whether
it exists or not. I don'tbelieve that every radio station in America has
stopped playing Ditty's music. I don'tbelieve that for a minute. No,
I don't think so. Right,So, right there, we know that
Ditty's not canceled. And if Iuse all my the things which are available

(18:15):
to me, tools which are availableto me, I probably could call some
radio stations to find out, Hey, are you still playing Diddy? But
it's not worth the effort. Ican assume that he has not been excommunicated
from all radio stations, so he'snot canceled. Will his marketing opportunities be
limited, absolutely, but he's stillgenerating passive income. And you might have

(18:38):
heard Mark Ronner detail another woman who'scome forward alleging a two thousand and three
if I'm not mistaken sexual assault.We said, other people are going to
be coming forward. I said therewould be other videos. We haven't seen
other videos yet, but just keepon waiting because now the floodgates are open.
And that's part of the reason whyDitty was so quick to settle with

(19:00):
Cassie Ventura. If anybody knows wherethe bodies are buried, the proverbial ones,
not talking about the alleged real ones. And I'm being serious, I'm
talking about the proverbial ones. Ifanyone knows, it's Diddy himself. That's
why he settled immediately inside of twentyfour hours, trying to prevent exactly what

(19:21):
is happening right now. If hewas so quick to pay Cassie, and
he was so quick to pay tobury that video, how many other times
do you think that he's paid tokeep stuff from coming out. There is
probably a lot out there where he'snervous about coming to the surface. This
is just the beginning of the story, or as they say, the end

(19:42):
of the beginning of the story.We're not even midway through this. There
will be other accusers. There willbe other revelations, there will be other
videos, there will be other companiesin which they will be forced to make
very difficult decisions. You may notknow this, but he was one of
the founders of Revolt TV. Heis no longer associated with it. But

(20:03):
even Revolt TV came out and saidin so many words that we can't condone
this, we can't associate ourselves withhim anymore. And we stand with the
accusers. I'm paraphrasing, but that'spretty much what Revolt TV had to say.
This is going to get much worsefor Dibby before it gets better,
and that's saying nothing of the loomingfederal investigation. Remember he had two residentss

(20:30):
rated by Feds, so there isstill a major shoe to drop regarding allegedly
either sex trafficking or allegedly drugs ordrug trafficking and anything else which may be
tied to that. We don't knowwhat the Feds have, but we do
know that there will be other peoplecoming forward. And Peloton is probably one

(20:53):
of the first companies to fully disassociateitself with Sean Colmes, and I don't
think they were even monetarily tied.I'm quite sure they paid something for the
rights to use his music, butthey weren't exactly tied to him. But
this is the first There'll be manymore in the future. You're listening to
later with Moe Kelly on Demand fromKFI AM six forty. Before we get

(21:17):
out of here very quickly, I'mgonna say the Cockroach story for tomorrow to
Wallace, so just put that ona run for tomorrow. I want to
spend more time with that. Arewe really gonna go to the movies this
Friday? Are we really gonna goto the movies this Friday? Damn back
out. I don't do well lateat night when it comes to movies,
dude. You best take yourself agrandfatherly nap and be ready, and you

(21:41):
can take a pretty solid nap betweenthe show being over in the movie,
right. I cannot go to sleepthat late for any type of nap.
Any nap after seven o'clock is doomed. Yeah, no, he can't.
He can't sleep after he gets off. He ain't go sits like two three
o'clock. Just has to be duringthe day. So trust and believe.
There's nothing you need to worry aboutout during the day on Friday. There's

(22:02):
no interviews the show. Mark's alreadygot his review, probably already lined up.
Nauticle will be here. The showis pretty much done for Friday.
We got the contest, you know, T shirts and movie codes worked.
It's a very easy Friday. Youdon't have to like do much during the
day except for take yourself a nicenap, dude. And there's a pretty

(22:22):
goffy couch here for you as well. Yeah, the newsroom, newsroom.
I might have to go in thenewsroom and use that and hopefully Aaron or
Bethany won't be in there, becauseI will be smart Friday. If you
know it's going to be empty hereon Friday and you'll be left alone,
you'll be fine. Oh yeah,yeah, like yeah, you of all
people I should trust you. Nobodywill do oh no, nobody will draw

(22:45):
on your forehead. You'll be fine. There will be no pranks played on
you. We want you to beall rested up for the movie. Okay,
tell me again, what time doesthe movie start? Eleven thirty?
And Mark, don't you have tolike stay till midnight sending it close.
I might have to catch up withyou guys a little bit later because Fridays,
I'm out at eleven thirty. Butthey'll have tons of previews, so

(23:07):
sure I'll get there. And Isay that means it's going to start at
midnight. That's just it's opening night. They have I don't know how many
trailers who are going to show allthe summer movies. Yeah, then,
and you know I can't forget aboutNicole Kidman's intro. Oh of course,
that's an extra minute and a halfright there. Well, who doesn't want

(23:27):
to soliloquy on the on the magicof going to a theater and having people
open mouthed chump popcorn in your ear. That sounds almost appetizing. No,
never, No, I mean Icould have gone for the midnight show,
but I was trying to get ita little earlier for you. Mom.
Oh, it's all the same aftera certain point. You know, if
you would have started the movie atten fifteen, I might have been able

(23:51):
to swing that. But you haveme like an hour and a half or
more of downtime between the end ofthe show and the beginning of the movie.
Woo. I mean ten fifteen themovie would have to be showing in
the lobby here. That's right.Make it happen, captain. Look,
it's not Look, it's gonna happenwhile we are there. You will be
entertained. Listen, that's not theproblem. I have to drive home afterwards,

(24:15):
so do we all. It's onlya two and a half hour movie
right before sun drive home, right, I know you'll cross the paper boy
when when you get home. Andlook, look, just throwing a nice
comfy Mumo take out your teeth,put them in a cup next to you,
and one of those cup holders inthe seat. I'll be right next
to you. I'll pinch you ifI If I see you nodding off,

(24:36):
we're gonna have a great time.Look, I don't do It's not like
I would be doing the Walk ofshame. But it's kind of like the
Walk of shame where you're getting homeand the sun is coming up and you
realize I haven't been to sleep yet. No, it's way too late.
I look. You want to laughabout me putting my teeth in a cup?
Yes, I am old man.Get off my lawn, eat dinner
at four o'clock, go to sleepat six o'clock. If I had my
own way. Yeah. What's evenworse is the walk of shame is going

(24:59):
to be after spending a late nightwith three dud guys. There's no upside.
So where have you been out withthe fellas? Oops? No strip
club? Something you want to tellme? It's like, there's like no
upside. So who was with you? Stephan? What was Stephan warring?

(25:22):
Khakis shorts? What are you talkingabout? She's gonna know your lying if
you say answers always shorts, allhis shorts. All right, I'll try
to wrap my mind around it.I got three we've never been before,
not just entertained. That's not helpingthe case at all. That's that's not

(25:48):
that's not making me more enthusiastic.Okay, that's not drawing you towards it
more. No, no, no, no, that's giving me more dread.
Don't scare them off, foush.I think we got this in the
bag fair enough. All right,we'll see you all tomorrow and we'll give
you the cock road story tomorrow.I promise it's good. It was worth
more than four minutes, so Iwant to save it until tomorrow. Can

(26:08):
If I am six forty, weare live everywhere on the iHeartRadio app.
If you missed it, we gotit k SI and kost HD two Los
Angeles, Orange County live everywhere onthe Heart Radio app.