Tag Archives: CES

The price of stupidity

That is at the foundation of the severe conditioned setting of what can now laughingly called American stupidity. CBC reported yesterday ‘Conferences relocating to Canada over harsh new U.S. border measures’ (at https://www.cbc.ca/player/play/video/9.6758054) with the underlying text “As Canadian travel to the U.S. continues to drop, CBC News has found several professional conferences relocated to Canada to avoid harsh new U.S. border security measures. One sociologist describes being grilled by U.S. customs officers who searched his phone and wallet.” As such not only is there grilling (and no grilled sandwich), but searching the phone and wallet? I wonder what deeds custom officers have to copy this all to third and fourth party intelligence gathering settings. I get that a passport needs to be checked (read: validated), but a phone? I might agree that a wallet could be seen as reasonable. But consider this. Tourism already is down and now conferences are the new goal? Consider that the CES has over 100,000 attendees and the SEMA show over 150,000 attendees. Then there are the defence shows and IT shows. How many events will it take for these show runners to go to Vancouver, Toronto, or Ottawa? Is this the price of stupidity? How many millions will America lose in 2026? How long until the larger players will offer their shows in Abu Dhabi where the tourism spike is going on. How long until only gamblers will visit Las Vegas? Nevada have poured serious cash into Las Vegas and now that it is regarded as hostile terrain, what will they lose? There is little interest to move to London or Paris (too touristy saturated), but Dubai and Abu Dhabi have options. Soon so will Monte Carlo and now there is already space in Toronto among the 14 locations are Metro Toronto Convention Centre and Sheraton Centre Toronto Hotel. Ottawa has the Ottawa Convention Centre and a few others. Basically should you consider the Mississauga location (Oracle) for a place to show the CES, America will have close to two dozen locations for people no longer interested in America violating their privacy and as the Canadian places (optionally the UAE too) show bang for their bucks. Plenty of organizers will relocate their shows. 

And there is data. CBC reported in late April that ‘Nearly 900,000 fewer people went to the U.S. in March as cross-border travel plummets’ so what damage will Florida with their Universal and Disney parks endure? Especially as their is a great alternative in Abu Dhabi. As such there is a larger case we see when we consider the Oracle CloudWorld. It was in Las Vegas, September 9–12, 2024. As such Oracle now has a larger case to present their 2025 show in Mississauga or even in Dubai (if the clientele is enticing enough). Dubai has a whole highway of entertainment structures. There is the option of renting a boat for their guests and make a presentation on the Alexandra Dhow Cruise in Dubai Marina. A setting that reeks of elegance and fine foods. America is no longer the place to be, their U.S. customs protocols made sure of that. And I only mention two locations. And after the Guardian reported last week that ‘Stockholm rejects ‘bizarre’ US letter urging city to scrap diversity initiatives’, I reckon that Stockholm would be willing to cater to American shows that now seek entertainment elsewhere. Don’t let the location fool you. Stockholm is magical and it has an amazing cuisine all over town. I reckon that soon enough the high chefs in America will seek their fortune elsewhere. So how much longer will America cater to the stupid minded? I reckon this might be the last year and anyone thinking they will be safe is likely to unknowingly handing their IP to U.S. customs (they might be in denial, as these costume officers will claim that it is protocol). So how long until that damage becomes completely non-reversible?

I will let you decide. And as I see it, Iceland, Germany, the Netherlands, Belgium, and France might have similar issues down the line. So how many tourists and conference dwellers will miss America out of from now on until December 2026? Oh and before I forget Saudi Arabia is about to set new settings in at least 3 locations, so there are these locations to consider too. 

So, good luck with the excuse of protocol and watch what the price of stupidity is about to cost America, as one source gives me “The index now sits just above the historical low of 50 in June 2022. Current Economic Conditions registered at 56.5, compared to 63.8 in March. The Index of Consumer Expectations was at 47.2, compared to 52.6 in March.” So economic expectations is at least 5 points down in about 2 months. So what more losses can we see? Canada looks forward to having a great year in catering to conferences and tourists. As is the UAE. But America is doing great (apparently), as Reuters gives us “Approval of Trump’s economic stewardship rose to 39% from 36%. Trump began his term with a 47% approval rating, and saw his popularity tick” as such how many more shocks to the system can America survive? As I personally see it: retail, tourism, and business have been hit and will be hit a few times more this year, so by the time high summer hits places like Venice beach and other tourist location will suffer the lack of tourist. But not to fret, you can find them in Canada and a few other places.

And as the larger places expand Mississauga and add a European location or one in the UAE, we will see a larger exodus to these safer places and that is a trend that is set to continue until deep into 2027, because conference are usually planned up to two years in advance. Oracle might be the most visible one but I reckon they are not alone. All these players (like Snowflake and Palantir) have customers very worried about their IP and they will press for change a lot louder than I am.

So have a great day and if you want to have fun, pass US customs with a box of 5.25” floppies and see the question marks on their eyes as they are uncertain how to proceed. 

Leave a comment

Filed under Finance, IT, Law, Media, Politics, Tourism

Once more for fun

This started with a headline that caught my attention. It was ‘Top US consultancies face scrutiny over role in Saudi Arabia’s sports push’ (at https://www.theguardian.com/world/2024/feb/06/consultancies-saudi-arabia-sports-us-senate-disclosure-subpoena) there I immediately saw that it was written by everyones favourite Saudi basher Stephanie Kirchgaessner. Before I go out and draw first blood (always fun) I wanted to see if she had learned her lesson from the previous few times I slapped her silly online. So I decided to have a closer look. Here we are given “Major US consultancies who have advised Saudi Arabia on its global sports spending spree – including its proposed takeover of golf’s PGA Tour – are coming under fire in Washington for possible violations of federal disclosure laws.” That got my attention, but there are a few sides that need clarification. You see what exactly are the ‘federal disclosure laws’? It comes with the added “the senator has also strongly suggested that the consultancies could be violating federal disclosure rules – known as the Foreign Agents Registration Act (Fara) – by not formally declaring to US authorities that they are acting as agents of the Saudi government.” And now we have a problem. You see, when we consider that the “The Foreign Agents Registration Act (FARA) was enacted in 1938. FARA requires certain agents of foreign principals who are engaged in political activities” This is not politics, this is a bloody sport organisation and Kirchgaessner should know better than to be the willing tool of Richard Blumenthal. As such, The FARA Unit of the Counterintelligence and Export Control Section (CES) in the National Security Division (NSD). This implies that Matthew G. Olsen, Assistant Attorney General of the NSD should be part of this and he is not mentioned, not once. So what is this about?  

Well, we get an idea in the article with “The Saudi public investment fund (PIF), a sovereign wealth fund chaired by the crown prince and de facto Saudi leader, Mohammed bin Salman, and is worth an estimated $776bn, is at the heart of Blumenthal’s inquiry” and my question becomes. ‘Why is the investment fund of a sovereign nation the interest of Blumenthal?’ Anyone? You see what does a democratic United States senator from Connecticut got to do with this? We never see that explanation. Don’t get me wrong, this man has done plenty of good for America and for his constituents. I merely wonder what is going on. Part of this is seen in the Financial Times (at https://www.ft.com/content/7009a1a9-8e07-4113-a47d-ee4724d3d427) when we are given “You say you are between a rock and a hard place but you have chosen sides; you have chosen the Saudi side, not the American side” with the added “US PGA Golf Tour” is a global sports organisation, PGA stands for Professional Golfers’ Association of America. Yes, the term America is in there. But the side we do not see is “Overall, the PGA Tour reported $1.9 billion in revenue in 2022, up from $1.59 billion the previous year, thanks to new multibillion-dollar TV deals. Expenses rose as well, with the organisation reporting $1.87 billion in costs, up from $1.55 billion in 2021.” So this is about $300,000,000 in debatable profits. And in all this we see certain people in the dock for explanations. Yet at what moment in time did Richard Blumenthal and Stephanie Kirchgaessner look at its board of directors? This includes Ed Herlihy (lawyer), Jimmy Dunne, Mark Flaherty, Joe Gorder and Mary Meeker? When were questions asked of them? McKinsey is a consultancy firm, gold is a sport, it is not any kind of bloody intelligence with foreign agents. That shallow ice allows me to slap Kirchgaessner yet again. And all this is out in the open, she merely reported like a meek little sheep making the Guardian a bigger joke. I saw the wreck unfold in under 10 minutes. 

So when we get to “The PIF has routinely objected to being subjected to US laws and has rebuffed repeated requests by the Senate committee to hand over documents subpoenaed by the panel. To get around the issue, Blumenthal looked to gather information from the US consultancies that have advised Saudi Arabia for answers.” It is the ‘to get around the issue’ that matters. Blumenthal wasn’t ready, wasn’t prepared and was out of his depth in this case. The first question in a senatorial interrogation would be ‘How does FARA apply to golf?’ Then I would go towards issues like outsourcing. America outsources to China for well over $23,130,000,000 billion all so that they end up with an average workforce spend of $29.10. Yes, that is America. But no one steps in on that step of greed, not even towards China, so the PGA is outsourcing itself to Saudi Arabia for the opposite reason, not to get the cost down, but to get profits up and it seems that McKinsey and Company investigated and reported on this for their client. All settings that are out in the open and the joking duet called Kirchgaessner/Blumenthal missed this? 

So when we get back to “Major US consultancies who have advised Saudi Arabia on its global sports spending spree – including its proposed takeover of golf’s PGA Tour – are coming under fire in Washington for possible violations of federal disclosure laws.” Why aren’t we seeing the board of directors of the PGA tours in the limelight? And when it comes to the US consultancies, if they are advising, there is the question will others follow that advise and if so is the acting party not up for optional consequences if laws are BROKEN? Were laws broken? Not as far as I can tell and we can point at ‘to get around the issue’ implies that Richard Blumenthal wants something else. Perhaps dip his …. In the PIF (Public Investment Fund) and slurp up whatever he can. Oh and a thought just occurred. What do you think happens when Saudi Arabia retracts all fundings from America? Did you work that out? When Saudi Arabia sells all the US treasury bonds they have, will the heartbeat of America be measured in Weeks, or seconds? If Saudi Arabia offloads $107,000,000,000 in bonds the US economy will face a harsh reality that it needs money overnight and when others leave America to get by it is all over. Perhaps the ultimate nightmare for Wall Street that desperately requires some kind of soft landing at present. And it could have been averted, just like the losses that the US defense providers face to the extend of many billions (up to 50 of them close to immediate). How much losses can America survive? If there was a clear case of national security I would be fine with this all, but the Guardian gives us no information other than a Saudi hater who is out of her depth and no clear information on the entire McKinsey setting. Too much alleged emotions and no relevant information. 

So this was one more slap just for the fun of it. Enjoy the midweek.

Leave a comment

Filed under Finance, Media, Politics, sport