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Housing Market Woes; Nvidia's Explosive Growth; Special Ed Concerns; Gen Z vs. Millennials on Socks

A daily non-partisan, conversational breakdown of today’s top news and breaking news stories

This Week’s Sponsors:  – WeWork – Get 20% off WeWork All Access Membership | Code: MONEWSWORKS20 – LMNT – Free Sample Pack with any LMNT purchase – Boll & Branch Bedding & Sheets – 15% Off | CODE: MONEWS – Factor Meals – Ready-to-eat, chef-prepared delivered meals | 50% Off | CODE: monews50    Headlines: – Welcome to Mo News (01:20)  – Why Is The Housing Market Still So Out Of Reach (4:30) – Nvidia Becomes Most Valuable Public Company, Topping Microsoft (8:00) – FBI Raids Homes in Oakland, California, Including One Belonging to the City's Mayor (18:10) – A Record Number of Kids Are in Special Education—and It’s Getting Harder to Help Them All (19:30) – More Disabled Americans Are Employed, Thanks to Remote Work (22:00) – McDonald’s $5 Value Meal Intensifies a Fast Food Price War (23:00) – Donald Sutherland, Versatile Star of ‘MAS*H,’ ‘Ordinary People’ and ‘The Hunger Games,’ Dies at 88 (25:10) – A Sock War Is Afoot Between Millennials and Gen Z (27:30) – What We’re Watching, Reading, Eating (31:10)

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— Mosheh Oinounou (@mosheh) is an Emmy and Murrow award-winning journalist. He has 20 years of experience at networks including Fox News, Bloomberg Television and CBS News, where he was the executive producer of the CBS Evening News and launched the network's 24 hour news channel. He founded the @mosheh Instagram news account in 2020 and the Mo News podcast and newsletter in 2022. Jill Wagner (@jillrwagner) is an Emmy and Murrow award- winning journalist. She's currently the Managing Editor of the Mo News newsletter and previously worked as a reporter for CBS News, Cheddar News, and News 12. She also co-founded the Need2Know newsletter, and has made it a goal to drop a Seinfeld reference into every Mo News podcast. Follow Mo News on all platforms:

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Duration:
36m
Broadcast on:
21 Jun 2024
Audio Format:
mp3

A daily non-partisan, conversational breakdown of today’s top news and breaking news stories


This Week’s Sponsors: 

WeWork – Get 20% off WeWork All Access Membership | Code: MONEWSWORKS20

LMNT – Free Sample Pack with any LMNT purchase

Boll & Branch Bedding & Sheets – 15% Off | CODE: MONEWS

Factor Meals – Ready-to-eat, chef-prepared delivered meals | 50% Off | CODE: monews50 

 

Headlines:

– Welcome to Mo News (01:20) 

– Why Is The Housing Market Still So Out Of Reach (4:30)

– Nvidia Becomes Most Valuable Public Company, Topping Microsoft (8:00)

– FBI Raids Homes in Oakland, California, Including One Belonging to the City's Mayor (18:10)

– A Record Number of Kids Are in Special Education—and It’s Getting Harder to Help Them All (19:30)

– More Disabled Americans Are Employed, Thanks to Remote Work (22:00)

– McDonald’s $5 Value Meal Intensifies a Fast Food Price War (23:00)

– Donald Sutherland, Versatile Star of ‘M*A*S*H,’ ‘Ordinary People’ and ‘The Hunger Games,’ Dies at 88 (25:10)

– A Sock War Is Afoot Between Millennials and Gen Z (27:30)

– What We’re Watching, Reading, Eating (31:10)


**Mo News Premium For Members-Only Instagram, Private Podcast: (Click To Join)**


Mosheh Oinounou (@mosheh) is an Emmy and Murrow award-winning journalist. He has 20 years of experience at networks including Fox News, Bloomberg Television and CBS News, where he was the executive producer of the CBS Evening News and launched the network's 24 hour news channel. He founded the @mosheh Instagram news account in 2020 and the Mo News podcast and newsletter in 2022.

Jill Wagner (@jillrwagner) is an Emmy and Murrow award- winning journalist. She's currently the Managing Editor of the Mo News newsletter and previously worked as a reporter for CBS News, Cheddar News, and News 12. She also co-founded the Need2Know newsletter, and has made it a goal to drop a Seinfeld reference into every Mo News podcast.

Follow Mo News on all platforms:

- Hey everyone, it's Mosh. I'm really excited to tell you about our newest partner here at Mo News. It is element electrolyte drink mix. If you're like me and you have trouble drinking all the water we need during the day, remember our bodies are more than 50% water, then you should check out element. It's literally just L-M-N-T, the letters L-M-N-T. Their drink mix comes in a ton of flavors, but they don't contain the sugar and the other dodgy ingredients. You get in other sports drinks. A growing body of research shows that optimal health outcomes occur at sodium levels that are two to three times government recommendations. And with element, you get that. You just take the powder, pour it into water and mix, and you're good to go. They have a whole bunch of flavors as I mentioned. My favorites right now are grapefruit and citrus. Getting enough electrolytes helps with preventing headaches, cramps, fatigue, brain fog. They're good for a whole bunch of diets. And the people using element right now include Olympic athletes, U.S. Special Forces, business leaders, a bit of everybody. They have a special deal right now for the Monus community. You can get a free sample pack with any element drink mix purchase. Just head over to drinkelement.com/monus that is drinkL-M-N-T.com/monus. Again, drink L-M-N-T.com/monus. Also, make sure to check out Element Sparkling. It is their new 16-ounce can of sparkling electrolyte water. Hey everybody, it is Friday, June 21st. You'll listen to the Monus podcast. I'm Moshe Ununu. I'm Jill Wagner. This is the place where we bring you just the facts. And we read all the news and read between the lines so you don't have to. Jill, happy early start to your weekend. Thank you, Moshe. I appreciate it. It's a hot one for about a third of the country. So I hope everyone is staying cool out there. You know what, I played tennis earlier this week at 7.30 in the morning outside. And even that, from 7.30 to 8.30, I thought I'd be okay. And I came home. I think my face must have been so red. My husband was like, "What happened?" I'm like, "I've never seen you this color before." And I actually was out of sorts all day. So the heat is quite serious. I think really be careful, hydrate, if you are gonna be outside. Or we could say indoors and listen to this podcast as well as our new premium podcast out this weekend. Jill, the countdown is seven days till the first presidential debate. I don't know how many of you are keeping score like I am at home. Have an interview with John Carl, the Chief Washington Correspondent for ABC News, previewing the debate, talking about the election. He's covered every election since '92. So give us some good perspective on what to expect and what his sources inside the Trump in Biden campaigns are telling him. So if you're not a premium member already, it's where you get weekend coverage. You can join by heading over to mow.news/freetrial to check it out for two weeks for free. - Yes, Moshe has his official countdown going. (laughing) - Jill. - Jill, are you as excited? - Jill, seven days for the debate. - Well, it's an important night for you, Jill, 'cause I mean, you gotta stay up past nine p.m. (laughing) - That's what you think. (laughing) Okay, let's get to some headlines here. Starting with some news for anyone trying to buy or sell a home, some good news and some bad news why the housing market is still so out of reach for so many young Americans. And the most valuable company in the world is one that maybe you have never heard of. We're gonna talk about NVIDIA's humble beginnings and its CEO. Meanwhile, why the FBI is raiding homes in Oakland, California, including one that belongs to the city's mayor. To education, a record number of American kids are in special ed, but it is getting harder to help them all. To food prices, McDonald's $5 value meal intensifies a fast food price war, one major perk of remote work, more disabled Americans are now employed. RIP, Donald Sutherland, the star of MASH, Ordinary People, The Hunger Games, and so many more iconic films has passed away at the age of 88. And in lighter news, a sock war is afoot between millennials and Gen Z, we'll explain. - We've spent so many years, Jill, as millennials are going to hide our socks, and yet Gen Z is like, nope, we want them out there for everyone to see. - Who cares about the tan lines, we'll take them. - I'm done being told what to do by Gen Z, but we'll get into it later. - Plus it is Friday, cheers to the freaking weekend, what we are watching, reading and eating. Okay, let's start with the latest on the housing market and perhaps a glimmer of good news. Mortgage rates are beginning to ease. They are now at their lowest level since mid-April. The 30-year mortgage rate is now officially below 7%, which is just a psychologically hard level to swallow. The decline is partially thanks to the inflation report we got last week, which showed that the rise in prices in May was a bit slower than expected. If inflation continues to cool, we could start to see mortgage rates follow suit. The bad news is that rates are still really high. The rate for a 30-year fixed mortgage fell from 7.02%. - To 6.94%. - Though that seven number, definitely a big psychological barrier for many folks. - That's right. So it is the lowest in several months, but still more than twice as high as it was just three years ago. And that means a lot of young people have been simply priced out of the market. A big part of the problem is that there are just not enough homes for sale. And that is because one, many homeowners don't want to sell and therefore give up their ultra low interest rates. That is a phenomenon that is called the rate lock phenomenon, but it is not the only issue. - So one issue, they don't want to sell, the other issue, home building has really lagged. So instead of moving to retirement communities like Del Book of Vista or Downsizing the Condos, as was expected by housing expert, the retired baby boomers are sitting put, staying in their homes. So there's a simple rule of supply and demand here. Still high demand, not much supply, and then not much for sale, because the boomers are looking around being like, "Whoa, what's with rates at 7%?" I like the days of two or three percent, which we're not gonna see for years to come if ever again. So no new houses, boomers staying put. Younger folks have a shortage of options amid these high interest rates, which means the cost of buying a home still a huge financial burden. The numbers here pretty wild since the pandemic. Home prices have risen nearly 50% over the course of the past four years. That spike leaving millions with no options more than renting, which no surprise, has now driven up the competition for rentals. There's a report out this week from the Rent Cafe, which rated 137 rental markets across the country, most competitive right now, where there's basically no options and very high prices. Miami-Dade number one, suburban Chicago, number two, North New Jersey at three, followed by Grand Rapids, Michigan, and Milwaukee, Wisconsin, or Millie Joaquin. Jill, as I'll always call it because of Wayne's world. So a shortage of housing options, rental market, sky high, those who are able to afford a home, some of those considered what they call house poor, meaning if you're paying 30% or more of your monthly income on housing, you're considered house poor. It's an estimated based on numbers this week. More than 18 million Americans are living in homes that stretch their budgets, beyond what's considered financially healthy. Again, most because we like to end on a little bit of a high note, and not totally depressed people, I will mention that if things keep going in the trajectory that it's looking like they're going, where inflation is going to continue to fall and level off, those rates could be at about 6% hopefully by the fall. Sticking with business news, the most valuable name on Wall Street this week is one that you may not have even heard of. We're not talking Apple or Microsoft, it is Nividia, a chip maker that is getting a huge boost from the boom in generative AI, and just surging demand for its chips. Earlier this week, Nividia overtook Apple and Microsoft becoming briefly the world's most valuable company valued at over $3.4 trillion, and Nividia's rise is among the fastest in history. Just two years ago, the company had a market valuation of $400 billion now in about a year. It's gone from a trillion to more than $3 trillion. Nividia stock did dip by about 3% yesterday, which handed the keys back to Microsoft, but it is now still a three company race for most valuable. >> Yeah, you're going to be seeing these headlines now for a while to come, Nividia not most valuable, Microsoft not most valuable. It will go back and forth in the way they determine this is based on stock price, which leads to market cap. Nonetheless, the Nividia story remarkable, because if you look at the chart and we put it up on the Instagram account, Apple and Microsoft have been competing for number one for a while, and Nividia just shoots up out of nowhere over the course of the past two years. As you said, it's all about AI. They're making the chips that will accelerate AI advancements, and you know this name of the game right now is AI, they need powerful computer chips, and that's what Nividia makes here. There's special kinds of chips that they've effectively surpassed Intel on. You've always heard about Intel chips. On Tuesday, Nividia became 25 times more valuable than Intel to give you perspective on Nividia. It's now as a company more valuable than the entire Canadian stock market. France's GDP, 16 Elon Musk's, every building in New York City, Nividia also more valuable than the entire US oil and gas industry or the entire crypto industry. Again, just to give you some perspective there on the size of Nividia, and it really began with some humble beginnings here, founded back in 1993 over a meal at Denny's, like the restaurant Denny's. That's where the founder of Nividia at the time worked. His name is Jensen Wong. I should note by the way, Jensen Wong, now the 11th richest man in the world. He went from working at Denny's as a bus boy, now worth more than $110 billion based on the stock price. It went public back in 1999, Joe. Unfortunately, you and I did not make the decision to invest back then, but if you had invested just a thousand dollars in Nividia back in 1999, today you'd have $3.7 million on a $1,000 investment. It's up an astounding 370,000% of this stock price over the course of the past two decades. I mentioned Wong, the founder. He recently did an interview with a Stanford Business School where he talked about his humble origins at Denny's, talking about washing dishes, cleaning toilets, telling the Stanford MBA students, "I've washed more toilets than all of you." Take a listen. I was probably Denny's best dishwasher. I planned my work, I was organized, I was Nissan Plus, and then I washed the living daylights out of the dishes, and then they promoted me to bus boy. I was certain I'm the best bus boy Denny's ever had. I never left the station with empty-handed, I never came back empty-handed, I was very efficient. And so anyways, eventually I became a CEO. I'm still working on being a good CEO. To me, no task is beneath me because, remember I used to be a dishwasher, and I mean that, and I used to clean toilets. I mean, I cleaned a lot of toilets. I've cleaned more toilets than all of you combined. - Jill, I just love it, especially in a room of much a Stanford MBA's, where he's just like, "This is what I did, this is how I first came up with it." And I love the fact that how you do one thing is how you do everything, and he's explaining how organized he was at the dishwasher. He took the job seriously, he respected it, he wanted to do an amazing job at it. And now he's sitting, at least at one point this week, but the most valuable company on earth. - I totally respect it, and most I'm about to give you a very big compliment. I feel that you have that mentality, where you're the boss, you run monues, but you get your hands dirty. I feel like you get into the newsletter every night, late at night, even when I'm like, go to bed, I got it, it's perfect, and you do that, you do the Instagram on Sunday mornings to Sunday night, just on the weekends, and it's one of the reasons that I really like working for you. I feel like I'm very similar to you, where we've kind of earned the right in some ways to maybe not wanna do certain things, but we still do them because we care about the journalism and care about the product, and I one day hope that you become as rich and successful as he does. And I mean that I genuinely, Moshe, I mean that. - Jill, I so appreciate the comment. You're making me blushier on the YouTube page, but I was at times I'm like, I feel like I obsess over too much, but that's sort of how I do my work, and I have to say, I'll take a moment, and again, gratitude to you. I hope one day we're a million dollar company, a billion dollar company, one day it's really a dollar company, but I will give credit to my parents, where my father came to this country, not speaking the language, cleaning garbage out of basements, and built his own business, and family, and incredible success, and was able to send me to college, et cetera. So I wanna thank my parents for teaching me an incredible work ethic that to me taught me a lot, working in my dad's cabinet shop, and I've always said, and this is something I've told everyone that I've worked with, is there's no task that's below me. In fact, I remember having an incident one time with an intern at one of the networks I worked at who coffee had spilled, and I was like, "Hey, can you grab paper towel and clean that up?" And the intern turns to me, I won't say what university it was, but it was an Ivy League Institute, and he goes, "I went to X University," and I'm like, "This ain't gonna work." - Yeah. (laughs) - So does that mean you don't clean coffee at that university? Because coffee spills everyone. - And I think having worked-- - Did I say it again? - Oh, Jill, I got one more story from CVS that Alex just reminded me of when I was executive producer of the evening news, and we were on the road and the anchor, Jeff Gloor, at the time who was anchoring the news, his shirt was, what do you call it? His shirt was wrinkled, and so I ironed his shirt, 'cause there was no one else available on the road trip. So just FYI, I can iron, I can clean up the coffee, especially if you went to the Ivy League School, and you don't clean up coffee. - And most, having worked with some of the biggest names in the news business, I have noticed that usually the people who have the smallest ego are the best workers and do the best job. - Jill is why we get along, and also why I think you and I have good perspective for how people think. We often talk, we often talk about bias in the news, and of course there's political bias, but there's also elitist bias. And that gets in the way of a lot of reporters and national networks really being in touch with what the average person is thinking and experiencing. And so I pride ourselves here at Monuse with staying plugged in, staying near the ground, staying humble, and I think it's all very important. - Well, I don't know how the NVIDIA story turns into a story about us, but I'll take it. - Well, I'll take it, Jill, 'cause you made it about us, so I enjoyed that. As we head into the summer and are looking at ways to maximize our time outside, taking care of kids, et cetera, and just looking for ways to save on meal prep time. We have a Monuse partner that might be of interest to you. We've been talking for months about factor meals. Factors fresh, never frozen meals or dietitian approved, and ready to eat in just two minutes. So no matter how busy you are, you will always have time to enjoy nutritious, great tasting meals with 35 different meals and more than 60 add-ons to juice from. Every week, you'll always have new flavors to explore. I absolutely love their cold-pressed juices and all of their chicken dishes. Meals are delicious and nutritious. They have options like filet mignon, shrimp, and black and salmon, and they are ready in two minutes. So you've got no shopping, prepping, cooking, and no cleaning up. It is lovely. So head to factormeals.com/monuse50 and use that code Monuse50 to get 50% off your first box. That's five zero plus 20% off your next month. So that's code Monuse50@factormeals.com/monuse50 to get 50% off your first box plus 20% off your next month while your subscription's active. - So this episode is brought to you by WeWork. We've told you for a while now that we made our home for Monuse headquarters at WeWork, the co-working space. Ours is located in Brooklyn. They have locations all across the country and around the world. We love working here because not only is it a great space to get work done, but you never know who you'll meet in the hallways here or at the next WeWork event. You could meet founders, industry leaders, or your next business partner, customer, or investor. The hot topic in the halls these days is all things artificial intelligence, AI. If you work in the AI space or are interested in getting firsthand knowledge about AI, there are already several hundred companies here focused on it. You run into them all the time. There are also master classes and networking opportunities. I truly believe that WeWork is a place you want to be if you want to surround yourself with the energy and innovation happening in the world of AI. So if you're looking to join WeWork, we've got a special discount right now for all Monuse podcast listeners for a limited time. You can get 20% off a WeWork all access membership that'll give you access to hundreds of workspaces around the world. The code is MonuseWorks20. Again, MonuseWorks20. You can get started right now by heading over to we.co/monuseworks20. Again, the website we.co/monuseworks20. - Okay, time to have the speed read from the San Francisco Chronicle. Federal authorities rated a home belonging to Oakland mayor, Shang Tao, early Thursday as part of a California investigation that included a search of at least two other houses, FBI agents carried boxes out of her four bedroom home. She allegedly was escorted out during the early morning hours. ABC News reports that while the details of the FBI's investigation are still unknown that the case involves the IRS and the US Postal Service, agents also conducted searches about three miles to the south at two homes owned by members of the politically influential family that owns the recycling company Cal Waste Solutions. The firm has been investigated over campaign contributions to Tao and other elected city officials. - And it comes at a messy time for Oakland. This is a challenging time for the mayor. She's only been there for about two years and she's already facing a recall election. There's now an official item on the ballot for November to recall her. Oakland suffering increased crime rates, budgetary problems. It's been a mess since she took over last January from after some time on the city council. Jill Oakland, a city now where you literally can't leave anything in your car for even a couple of minutes out of fear for it getting broken into or stolen. - From the Wall Street Journal, more American children than ever are qualifying for special education, but schools are struggling to find enough teachers to meet their needs. A record, seven and a half million students access special education services in US schools as of the 2022 to 2023 school year, including children with autism, speech impairments, and attention deficit hyperactivity disorder. That's about 15% of the public school student population up from less than 13% a decade earlier, according to the most recent federal data. Several factors are driving the increase. So you've got pandemic disruptions that left kids with lingering learning and behavioral challenges. Parents have also become more assertive about asking for services as the stigma around special education has lessened. Autism diagnoses have also risen in recent decades. And the state of Texas has seen a boom in special education after changing an approach that had limited access. Students with disabilities are eligible for services like speech therapy, specialized reading lessons or personal classroom aids. Yet many schools report being understaffed in special education. - Yeah, the numbers there are pretty remarkable that's one in six public school students in America now requiring special education and districts have been facing growing pressure on their budgets now as the federal COVID belief aid is set to expire this fall. And when you look at it, there's a whole bunch of federal funding that comes in when you adjust it for inflation. The amount of federal funding has fallen over the course of the last decade as the number of students accessing special education has increased leading to major issues there. Since students return to school from the COVID closures and remote schooling, special education teachers are saying that they're seeing more mental health issues, extreme behaviors, including students hitting staff, making lewd remarks, throwing furniture. And that's why they need this extra support, the right support that can really help, especially if they need one-on-one care. But schools having recruitment challenges right now, looking for special education teachers, aids, especially as the federal funding falls short here. So the numbers as of last fall, one in five public schools report not being fully staffed in special education. That's a higher rate of staffing issues than other teaching positions, according to a recent federal survey. - From Bloomberg, among the greatest beneficiaries from the rise of remote work are people with disabilities who have entered the US workforce at record levels over the past three years, working from home, along with flexible hours, job sharing and other adjustments, has given people who were once on the margins of the labor market the opportunity to join it. That is according to John O'Neill, the Director of Disability Employment Research at the Kessler Foundation. The share of US disabled employees who were fully remote was about 13% in the first part of 2024, compared with about 10 1/2% of employees with no disability. - It appears here, Jill, that COVID sensitized employers to the usefulness of accommodation practices, and they've been more open-minded about this. And we are coming off of a period where there was a tight labor market, which also led to more employment opportunities for those who are disabled. At the same time, disparities still exist. People with disabilities are still about twice as likely to be unemployed as they're non-disabled counterparts. - From Bloomberg, fast food pricing wars are set to reach a new level this summer. McDonald's next week will be kicking off a marketing campaign and a new $5 meal deal, raising the stakes as US restaurants buy to lure back inflation weary diners. The company's president says, "We are committed to winning the value war." Burger King's president in the US pledging to roll out its $5 value meal before they do, alluding to McDonald's in a memo to franchisees. Wendy's pushed out a $3 breakfast offer and took to social media, to mock its competitors for copying its ideas. Even Starbucks, which is known for pricey frappuccinos and lattes, said that it would offer a $6 breakfast sandwich and coffee combo. Although there are questions from some McDonald's franchisees who are concerned that this will really eat into profits for the company though, the promotion which runs four weeks nationally and longer in markets like Dallas and Las Vegas is not just about driving sales. The national campaign is also geared toward dispelling this notion that McDonald's has become too expensive after images of an $18 Big Mac combo meal in Connecticut went viral on social media, along with claims that prices have doubled in recent years. - Yes, McDonald's would like to make clear that prices have only increased 40% over the last five years, they haven't doubled. And apparently the $18 price tag isn't an anomaly, they did an assessment of 14,000 company locations and found that the Connecticut particular franchise was charging more than the rest of them, but still they have a branding problem. They're trying to reinforce the folks that McDonald's still affordable here, trying to ramp up their value options. We saw Arby's offering their $6 meal back in January. White Castle has a bacon bundle for $5. You mentioned Burger Kings, even Starbucks, Jill, you can't get much for Starbucks for six bucks, but apparently you can now get some food as part of that deal. So we're seeing an acknowledgement here from the fast food industry that their prices have gotten a little too high though they like to blame inflation, but clearly here they're able to find some room to go back down to reach a consumer that is no longer spending the way they were before due to prices being higher everywhere. - From the Hollywood Reporter, Donald Sutherland died at the age of 88 in Miami after a long illness. His performances in films like "Mash," which was a movie before it was a TV show, "Ordinary People and the Hunger Games," proved that he could portray sinister, sympathetic, comedic or tragic characters. Remarkably, he was never even nominated for a competitive Oscar, although the Academy of Motion Picture Arts and Sciences made up for that oversight by giving him an honorary statuette in November of 2017. Sutherland's turn as the irreverent, martini-loving Hawkeye and Mash brought him international stardom at age 35. He said of the film, it showed the concept of war without showing war. He said, when you're in a field station like we were, it's insane to watch human bodies come flying into a camp that are wrecked for no reason at all. That kind of insanity created an environment, a kind of mini-society that was in chaos to a lot of people that represents a kind of society that we have today. - Yeah, there's a 60-minute profile that I recommend watching, and some Cooper profile to him back in 2017, and he talks about finding inspiration in a role. This is Sutherland. I don't find it, it finds me. I will read it, and then starts churning inside me, and then it gets violent, and then it gets loving. And it's an extraordinary thing. It gets more and more and more exciting. It's delicious. This is how Sutherland describes getting into a part. And his last name might be familiar to you. If you don't know him, you might know us on Key for Sutherland from a number of films, including the TV show "24." Back to the dad, Donald, in his Oscar acceptance speech a few years ago, acknowledged that he wasn't sure whether he deserved an Oscar, but then he quoted the words of the famous Jack Benny, who said, "I don't deserve this, but I have arthritis, "and I don't deserve that either." So Donald Sutherland, "For found thoughts, "he will be missed." - The next time something good happens to me, and I feel that I'm unworthy, I'm gonna mention that. I'm gonna think about that in my head. - Just remember the bad things that you don't deserve, and then you're like, "You know what? "I deserve it." - Most, I have a bad stomach. - You don't deserve that, Jill. So, take all the good life brings in. - And finally, from the New York Times, Gen Z is already taken on millennial fashion like skinny jeans inside parts, and now some young people are declaring a preference for crew socks, which generally rise to about midway up the shim, and they are thumbing their noses at the ankle and no-show varieties that are staples of the previous generation's sock drawers. What might be just a mild generational difference in sock preferences is being exaggerated into a kind of theatrical warfare, on social media. Jabs are being exchanged side by side, comparisons are posted, and some millennials are standing there ground, the comedian Matt Bellasset posting on a TikTok video that has since gone viral, that he is not letting go of his ankle socks so quick. - Gen Z says the way that you spot an out-of-touch millennial is that we wear ankle socks, and Gen Z wears crew socks. And I just want to say, you will pry these ankle socks off my cold, dead feet before I put on a sock, even approaching my shins. I don't think you understand. When I was in high school, if I wore a crew sock, they would have bullied me within an inch of my life. - Moshe as an elder millennial slash... - Exennial? - Gen X-er. - I think you're an exennial, Jill. - I kind of agree with him. - Jill, you know what's so funny? - It's like, I hear that. I remember the '90s in high school, and I remember having tube socks that I would wear down to the bottom and like fold up into my shoe, because ankle socks really like, there's a lot of options to date, less so in the early '90s. They still took it up a bit. It took a while for sock makers to really make it towards the bottom. But I just remember like, it was not cool. It was like, don't wear your backpack with two straps, only carry your books with one strap on one shoulder. - And don't wear tube socks for general rules of the early '90s. And we're general rules of the late '90s. - We are in Bizarro World. - Well, you know, Gen Z thinks it has some new ideas here, but I have a message for you. The '80s are calling and they want their tube socks back. So the sock divide is out there. Billy Eilish wore red crew socks at the Golden Globes this year. Angel Reese, 22, another Gen Z-er, were tall socks with both sneakers and heels to a photoshoot for Teen Vogue. There's a headline in British Vogue, Jennifer Lawrence, briefly steps out in millennial socks. It's not wearing tube socks. So, you know, there have been sock trends going back to the 1940s. They called them Bobby socks back then. White Lacey socks folded over the ankle in the '70s. That's when the tube socks exploded. And we're cool by the '90s, early 2000s. The tube was gone. You know, we're down to ankle socks. And that's been a thing here for a couple of decades, but it appears Gen Z wants to bring back '70s, '80s old school. Joe, tube socks for me or for winter, keep my feet warm, if it comes to summer, if I'm wearing shorts, I'm going to the gym, ankle socks. No question. - So you're all about practicality, it sounds like, not fashion. - Well, I mean, I'm fashion in the summer, practicality in the winter. - Well, you're also talking to somebody who never gave up the side part. I tried the middle part and it just never worked for me. And I'm like, I'm going to do the side part. And eventually it's going to come back. And I will be ahead of the trend. - You don't have to worry about Gen Z. You're raising alpha generation in your household. And you know, we'll see if they adopt millennial trends, sort of like, you know, Gen Z is going back to, you know, Gen X trends. (upbeat music) - All right, Moshe, it is Friday. Cheers, the freakin' weekend. Time for it. We are watching, reading and eating. What are you watching? - So there's a new documentary on Netflix about the first black Barbie, the making of the black Barbie doll. So looking forward to watching that. Jill, what do you got? - Moshe, I finally finished hostages. It is a four part series on Macs or HBO, as it was previously known about the Iran hostage crisis back in 1979. And I have to say that I think it is absolutely fascinating. The way that the takeover of the US embassy in Tehran happened, I never realized that it was just students who took over the embassy, thinking it was going to kind of be like a 24 hour thing. And then the ayatollah wound up backing it, and it turned into, we now know that the hostages were there for more than a year, and were released on the day that Ronald Reagan was inaugurated, just the history of it is so fascinating. And I highly recommend it in terms of understanding what's going on now with Iran, and the role that the US played in kind of creating the situation that we're now in, and how quickly life changed from living under the Shah, being pretty liberal to living under basically Sharia law under the ayatollah, just really fascinating. Again, I highly recommend. - Yeah, you get a bit of micro perspective. If you ever saw the movie Argo with Ben Affleck, but getting a better comprehensive grasp is important, especially since to this day, right? 45 years later, we're still dealing with the aftermath of that and the same regime. - Well, it's fascinating because they interview not only some of the American employees who were held hostage, but they also interview some of the student hostage takers and to see how their opinion of that whole situation has changed so radically in the decades since. Again, I highly recommend. Okay, Moshe, what are you reading? - Mentioned the top, we have a new podcast out over on premium with John Karl of ABC News. He has a book out on Trump, his latest book on Trump, tired of winning with the inside story of January 6th and how Trump came to decide to run again in 2024. So just finished that book and a reminder to go check out over on Modus Premium, my interview with him, previewing the debate, looking at the election, answering a lot of the questions you've been asking about the election. If you're not a member, go check it out over right now, mod.news/freetrial. - I'm going beach read, Moshe. I am gonna be reading Funny Story by Emily Henry. It's apparently relatable, hilarious, cathartic, all about the struggle of making friends as an adult and the familial relationships that shape who we are. It is supposed to be wonderful and I cannot wait to just dig in to a light, funny read. All right, now to my favorite. What are we eating this weekend? - Jill, I think I've mentioned them before, maybe on a podcast last year, but Alice this week picked up a cinnabon from a department for F. If you're not familiar with them in Brooklyn, if you're ever in New York, there is a couple that began baking out of their apartment for F during COVID and got so much traction, they opened up a bakery that's become like the hottest bakery in Brooklyn. There's like a line by like seven something in the morning. There's a 20% line to pick up their croissants and baked goods. Anyway, if you don't get there super early, sometimes you could stand in line middle of the day, still pick up something, we're big fans. Jill, what do you got? - I feel like I'm taking a page from your book, Moshe. I'm gonna be eating some ice cream. So the Jericho cider mill, which is a cider mill, as you can tell. - We're both going local for our picks this week. - We're going local. I just found out that they sell ice cream. Okay, so I only-- - So you thought they only had apple cider? - Yes, I only really thought they were around in the fall for apples and apple cider and frapples, as they're called, but I just found out about their ice cream and I cannot wait to try it. - All right, so for all of you not in the New York area, apologies, but something to add to your list if you're ever run. - For my Enclave newsletter, we profiled the best ice cream shops on the North Shore of Long Island this week. And this is something that I learned about. - It's a new, a newsletter after my own heart, Jill. (laughing) - We're gonna have to do an ice cream crawl. I think Brooklyn's probably the better spot, so you don't need to drive anywhere, but that feels quite appropriate. All right, everyone. Thank you for listening to the Mo News Podcast. If you like what you hear, share this with your friends, it will help us grow. Follow us and subscribe so you don't miss an episode and review us in the App Store. - Yeah, the reviews matter, so appreciate all of you who can take a moment to review us on apple and Spotify. Otherwise, folks, have a wonderful weekend. Stay cool, see you Monday. - Bye, everybody. - Thanks for listening to the Mo News Podcast. (upbeat music) (upbeat music) (upbeat music) (upbeat music) (upbeat music) (upbeat music) (upbeat music)