Trump's Ticketing Order

Much ado about nothing. Grandstanding. A joke.

In reality the order says nothing. Other than ticket scalpers make a lot of money and they must pay taxes on their revenue.

Oh yeah, DOGE just gutted the IRS...who's going to enforce that? Where are all the IRS engineers with time to dedicate to researching the receipts of brokers.

As for the BOTS act... It's been on the books for years, but it's been ineffective because there's been no money/assets delegated for ENFORCEMENT!

And in a government where Musk is cutting willy-nilly, where is the extra manpower to focus on...TICKET SCALPING?

Let's be clear, scalpers provide a service. If you can't get in line online and waste hours trying to purchase what oftentimes is a bad seat, you can pay a premium after the fact to the scalper to get the ticket you want. Hell, a lot of the great tickets are not available on the on sale to boot! There are pre-sales and holdbacks and... I'll admit the scalpers and their bots are a huge problem, but no one is forcing anybody to buy a concert ticket. And the dirty little secret is almost all of the people paying exorbitant prices for secondary market tickets were thrilled to be at the venue, THEY ENJOYED THE SHOW!

So, once again, where is the problem?

High prices for concert tickets? Well, if the acts themselves try to capture that revenue the public bitches that they're greedy. As for paperless/tying the ticket to the purchaser...the public is against that, because they want to be able to scalp their tickets themselves!

Concert ticket pricing and availability is a problem, but nothing in Trump's executive order is going to address this.

Price transparency? Big evil Live Nation has been arguing for this for years. It's a game, no different from buying anything in America today. There's the price of the car, and what you pay when you walk out the door. And there's no addressing the breakdown of these fees... So the acts can hide behind the "face value" of the ticket and accuse Ticketmaster, which gets little of the fees, for being greedy! Talk about not having clean hands.

The FTC proposing regulations? Isn't this what Trump and the Republicans want to get rid of? Don't they want to simplify all processes?

As for a report... That ain't never going to pass the DOGE smell test. Isn't this what they're getting rid of, soft costs? You're going to spend all that money creating a report? And it does cost money. And usually nothing happens thereafter. This is antithetical to the DOGE and Trump ethos!

But Trump owes Kid Rock a solid. And this was as much as he could deliver.

Rock has a long history of trying to rein in the abuses in the ticketing world. I applaud him for that. But this executive order is a joke.

Too many people are making too much money off of concert tickets for there to be any change. And the government doesn't have enough money and manpower to solve this problem, because how big of a problem is it? Very tiny.

We've got ignorant fans who believe they're entitled to sit in the front row for twenty bucks. Since they listened to the music, a seat should be guaranteed!

Forget the law of supply and demand. This is kind of like the inane advocates of a penny a stream at Spotify. Did they learn any math? Spotify doesn't take in enough revenue to pay every artist a penny per stream, nowhere even close, the company would be bankrupt nearly instantly.

But it feels good to beat up on Spotify. It feels good to beat up on Ticketmaster. People can't handle the truth.

And all this executive order does is obfuscate. It makes people believe something is being done when in reality...

It's the same as it ever was.

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Errol Morris's Finance Movie

"Tune Out the Noise": www.youtube.com/watch?v=T98825bzcKw

I'm intrigued by finance, but I'm not interested in it.

Meaning I want to know how it works, but I don't want to spend any mental energy in investing.

I don't want to become a day trader, which is a fool's errand. I don't want to buy and sell stocks because I'm not a professional, and it's a professional market. Furthermore, today everyone knows you should just put your money in index funds.

These are the guys who did the research proving this is the right way to invest.

Now I read about this documentary in the "Wall Street Journal."

"A Billionaire and an Oscar Winner Have Made a Hit Movie. It's About Investing - The new documentary from Errol Morris makes index funds and passive investing thrilling"

Free link: www.wsj.com/finance/investing/investing-david-booth-errol-morris-documentary-4dd7ff80?st=tuJdM1&reflink=desktopwebshare_permalink

Not that you have to read the article. But I do recommend you watch the first half of this movie.

Documentaries are all the rage, but too often they're about topics I experienced live, or nooks and crannies featuring crazy people. "Tune Out the Noise" is educational, without being didactic, without beating you over the head.

What we've got here is nobodies who find their way to the University of Chicago for disparate reasons. These are not today's finance bros, wearing tailored suits who are in it only for the money and the attendant lifestyle. No, what we have here are ACADEMICS!

Can you imagine being so intrigued by finance that you want to teach it? Mostly these are oddballs who don't fit in who find their way to this educational institution...

I know, I know, everybody's down on universities and college education today. However, at the bleeding edge of any enterprise is the intelligent, trying to figure out the unknown. And that's thrilling. We're all excited by the new. But most of us are playing it safe, never all-in, especially in enterprises that appear difficult and don't rain down money.

But David Booth decided to employ all this academic research to prove a point and make a ton of money. Which is why the University of Chicago's business school is now named "Booth" (well, he donated $300 million for the privilege).

It's exciting to see people driven by the data, the science, the theories, as opposed to the modern paradigm of working your way back from the money. How do I get rich? That's where most people start.

This is history. And that's where documentaries shine. Errol Morris makes finance come alive.

Until somewhere in the middle of this flick where the focus ends up being on small cap companies and multi-dimensions and conceptually you get it, but something is lost in the process.

But before that...

You'll be riveted. Because Morris is a professional documentarian, and he knows how to make a subject interesting.

Of course if you're a newbie, if you're wet behind the ears, if you truly think you can beat the market yourself...your eyes will be opened. The math says otherwise! That's the genius of these people... They collected the data and analyzed it, instead of just talking out of their rear ends.

And then there's the concept of the theory. The data is meaningless unless you're using it to prove or disprove... This is the kind of stuff you learned in junior high school that rarely comes up in your everyday life, but it's the essence of progress.

You should put your money in an index fund. Sure, round out your portfolio with bonds, maybe real estate, don't go all-in on the index. But if you're going to own equities, this is the way to go. This movie proves it.

As to which index fund you should own with which philosophy... This is where the film gets hazy.

But until that point, you'll be focused and edified. Even those in the industry may not know a lot of these historical details.

And did I mention that the movie is FREE?!

Yup, just click the YouTube link above.

You'll be intrigued.

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