WEBVTT

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Finally, one more thought, the law of unintended

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consequences when we set out to do one thing and

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it leads to an outcome. We never anticipated American

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sociologist, Robert Merton first laid it out in a

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paper back in 1936 though it's been kicking around since

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16 92 when John Locke wrote about how a law

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restricting interest rates might well have the unintended consequence of

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hurting borrowers by discouraging lending these days consequences we didn't

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intend are everywhere we look, take the fed who

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tried to get inflation back under control by raising interest

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rates and manage to side swipe Silicon Valley Bank and

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tech startups in the process. What's most predictable is

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that they're going to come down except we can never

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seem to predict what seems to be most predictable.

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Not to mention rich New Yorkers getting interest only mortgages

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for their Hamptons estates. There were tons of loans

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to wealthy clientele that were interest only mortgage payments or

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the Walt Disney Company thinking it was standing up for

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LGBTQ plus members of the community by taking a position

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against proposed Florida legislation only to wind up with the

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governor threatening to build a prison next to Disney World

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. People have said, you know, maybe,

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maybe have another, maybe create a state park,

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maybe try to do more amusement parks. Someone even

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said, like, maybe you need another state prison

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. Who knows? I mean, I just think

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that the possibilities are endless. Netflix had the best

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of intentions to create a mega hit with Love is

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Blind. A franchise built with premise of getting people

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who'd never seen each other get engaged, only have

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a crash and burn its own network. A huge

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disaster for Netflix. I mean, they, you

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know, made a big deal about we're going to

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do more live events. This is not a great

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start. And maybe the most ironic of them all

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major league baseball, we already talked about that new

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pitch clock they rolled out when spring training began.

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Essentially all events in the game are going have a

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clock on them and batters and pitchers are going to

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have to comply with those requirements, deliver pitches on

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time, get in the box on time, things

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like that, which we think and hope is going

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to create a better pace of play, cut out

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some dead time and really highlight and bring forward the

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best parts of our game, which is guys playing

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the actual game, not just standing around fixing their

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batting gloves, but now it turns out that it

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has been so successful that fans don't have time to

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go get a beer leading four teams to extend beer

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sales into the eighth inning Phillies pitcher Matt Strom is

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concerned about the fans. So now with a faster

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paced game and me just being a man of common

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sense, if the game is going to finish quicker

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, would we not move the beer sales back to

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the sixth inning to give our fans time to sober

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up and talk about unintended consequences. That does it

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for this episode of Wall Street Week. I'm David

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West and this is Bloomberg. See you next week

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