Chase Bank TikTok Trend Exposes Alarming Rise in Check Fraud – What You Need to Know!

0:00This is Right About Now with Ryan Alford, a Radcast Network production. We are the number one business show on the planet with over 1 million downloads a month. Taking the BS out of business for over 6 years and over 400 episodes. You ready to start snapping next and cashing checks? Well, it starts right about now. What's up guys? Welcome to Right About Now. It's our weekly business news of the week here on September the 6th, 2024. 24 joined as always brianna hall what's up hey guys chris hansen what's up brother what up ryan what's up brianna hey we are right about now ready to get into it it's been a good week so far short week i've been uh i don't know about you guys but i've been in that uh what day is it mode uh because is when Monday's the holiday, I'm all thrown off, like telling my kids like what day it is or they got to do something based on our normal schedule.

1:05And then I'm like, no. And I will say this, random, bear with me. They have at Harris Teeter, the local grocery store here in Greenville, they have$5 pizzas on Monday. And so last night, Nash and I were getting pumped. Nicole went out with some friends for like some kind of birthday party or something. So it was just me and Nash. It was a two-dude night. The other boys were away. And pumped$5 pizza night. I call up there. No, it's Tuesday, sir. I'm like, son of a bitch. Anyway. Do they still do pizzas and they're just full price? Yeah, they're$13.99. So, like, hey, that's it. I mean, that's$5 that, you know, that's suaded the decision.

1:52Because it's like for$14, we might choose something else. But for$5, these are big pizzas. This is a good deal. It's like, let me tell you, the deal of the century, if you're listening, and there's a Harris Teeter near you,$5 Monday pizzas is a bargain. So, yeah, we went with plan B and had steak.

2:15That's a pretty good plan B, if you ask me. Well, we actually had that at home. So, you know, we made do with steak instead of pizza. But anyway, there you go. Monday's thrown off. Hope everybody had a great Labor Day weekend. I definitely did not work. So it's the irony of Labor Day and not working. I guess that's the point, right? Yeah. Anyone do anything that they want to mention for Labor Day weekend here? Chris, do you have anything? I relaxed, man. I took it easy. It was kind of rainy. And I took that time to just chill and hang out. I loved it. It was great. Let's see. I took my family to Ikea.

2:59Ah, Ikea. In Charlotte? In Charlotte. Yeah, nice. The Ikea. Did you get anything that took like seven years to put together? You know what? We didn't. We were there and we were like ready to buy like 10 things. And we looked at each other and I was like, oh, we're going to have to put these together. And my husband was like, yeah. And I was like, let's just come back. Nicole's really good. I've become way more handy having a boat now. but like Nicole's the putter together of the two. So she loves putting like little things together. So I just sort of like, you know, play with the kids or watch TV.

3:35That's Matt. Ryan's just leaning back on the lazy boy as Nicole's sitting on the ground in the living room building the fucking cabinet. Good job, honey. Good job, buddy. No, Phillips head, Phillips head, not the flathead. Hey, don't over tighten. you know the uh whatever those things the hex wrench the allen wrench uh it's worse than backseat driving your backseat construction she doesn't want me because i get to drill out no matter what and they don't want you using the drill on those things i'm like i'm putting this thing together that says two hours oh 30 minutes guaranteed and i don't read instructions no i'm the same way when matt and i first got married we were like moving stuff out of my apartment and he was like this bookshelf is put together with nails.

4:21He was like, it's not supposed to be. I was like, I didn't read the instructions. Yeah. I usually end up with extra pieces or, you know, I definitely end up over screwing things or stripping the screw. I'm known for that. Nicole will see something. She just gives me that look. She knows. She's like, if there's a strip screw in the house, she knows where it's at. Because I over tightened every time. it's like oh come on push anything i'm like putting all my might into it that's like all unnecessary but anyway ikea that's all i think of is the uh having to put shit together yes so we ended up with a bunch of kids toys and like little baskets and not anything to put together and some like new dish towels i've done that i've went like at the end i'm like i don't want to do this i like leave with like you know a fucking fake bamboo plant and two dish towels and i'm like well got a good deal on those yeah if you went there you had to get something so i've tried and obviously one in g vegas here green and you got to get some of the meatballs the swedish meatballs if anything you got to get some lunch while you're there yeah i had some meatballs this weekend my sister and brother-in-law came down to the boat and she made some nice meatballs they were good love a good meatball yeah hard to miss you know i'm not gonna touch that one yeah so we appreciate you wherever you are whenever you are however you're listening appreciate you for staying tuned don't forget to watch us over there on the youtubes hey you want to see this you got to see these glasses chris has on today you know he is rocking stylish i don't know what i'm going full miami today miami what do we call those they just trendy trendy glasses blockers i don't know Yeah, they looked kind of like the Blue Blockers back in the day.

6:10They were like the gold-tinted, red-tinted Blue Blockers. It's bright here in the Vache Lounge. It's bright in here. I got to keep my eyes healthy. Yes, and appreciate Sawyer, our producer. He's got the Radcast Network logo up behind me. We are growing the network. If you're a podcast that wants to grow, wants to monetize, wants to get part of the get on the train, we're helping shows grow, monetize, theradcastnetwork.com. Check that out. Fill out that form. We'd love to help you talk about joining the network. And, hey, you want to be rubbing shoulders with Chris in those glasses? Maybe get a free pair.

6:53Come on over. Exactly. And, yeah, and, you know, before we get into the true business news, I am going to share this, and I'm going to take it down to business. out. It's NFL season starts this week. College football started last week. We're not going to talk much about that because Clemson got destroyed by Georgia. It wasn't a good weekend for the Tigers, but NFL starts this week. Baltimore and Kansas City, probably a preview of playoffs. You've got two of the best quarterbacks in the league playing and squaring off, but I thought this was interesting. This is about the business landscape report of the NFL and knowing how much business this generates, specifically with sponsorships.

7:35I thought there were some really interesting stats here. The NFL is expected to generate over$11 billion from American broadcasters this season alone. These numbers get thrown out around a lot. I think because news and information with social media and all that is so readily available and everybody posts the big numbers. I don't know that we stopped to pause to think about how much freaking money that is. It's crazy. It's a lot of hot dogs and Coca-Colas and Budweiser. $11 billion just this season. We're talking about like 20 years, 10 years. Just this season, that's how much broadcasters will pay.

8:18And that's just broadcast. That's not like tickets. Just broadcast rights. So for them to air the games. So here's how this works. people. Let me explain the business of media and commercials and all this stuff. So when you create a media project, something that people want to watch and has interest, kind of like this show, we want to make it interesting so that people listen and watch it so that then advertising can be sold because people are willing to listen and watch with the ads also integrated. So for the NFL, they're putting out a product, the game. They've got two elite teams. There's 32 teams in the NFL playing every week, multiple games.

9:05And so these broadcasters are paying for the right to show that game, those games, multiple games, on television. with when they turn around as the network and sell ads while that's airing to recoup what they've spent. So, you know, one network might spend 200 million for, you know, to put it, Fox might, and I'm sure it's more than that for them, but some amount. And then they're selling ads across all the games that they're airing. TV commercials, audio commercials on their radio products, depending on what the engagement is. They pay for the rights to show it, and then they can fill up the airwaves in between with the commercial breaks, selling that to sponsors.

9:53Coca-Cola, Budweiser, you know, insurance companies, all the mainstays. So that's sort of how that business works. You pay for the right to show it, then you get the rights to run commercials during it. So$11 billion is what they spent. But Peacock, which is NBC, is the newest addition. And their deal alone just for streaming is$110 million over one season. They're streaming like, I think like half a season's games or something, like one game a week or something. It's$110 million. And so like a streaming service like that is also selling ads, but they're also doing it to get more subscribers. So the game's changing a little bit with the streaming aspect because the monetization for the network that's buying the rights is changing.

10:46They're either selling ads or trying to get more people to buy the subscription. Like Amazon's been doing this the last couple of years with Thursday Night Football. And they do that because they want more people signing up for Amazon Prime Video, the premium version, and selling more Amazon, the deal that, you know, overall attribution across the brand of Amazon with the association with the NFL. And so the streaming aspect is definitely adding to different ways with which the networks can monetize by getting more subscriptions. A couple other numbers that are pretty staggering. The average price of an annual NFL sponsorship deal for this season is$39 million.

11:31That's like if I want to sponsor one team? Yes. So I'm sponsoring or so sponsor a team. I think this combining data, sponsoring that team, you know, the official X of the Baltimore Ravens, or more specifically, the official beer of the NFL. So the NFL as a whole, you know, So I'm pretty sure this is across the NFL as a whole property, the$39 million, if you want to be an official NFL insurance provider. They have a wine now. It's one of the ones that's like the screw-off that everyone's heard of. Anyway, I forget the name. It's the official wine of the NFL, the official plumber of the NFL. I don't know if they have that.

12:19But they have a list of categories. It's more than you'd think. The average price to get that is$39 million. deal. And so what does that pay for? Well, then you get to put it across all your properties. It gives you a bigger brand play. It gets you mentions on their website, mentioned on their properties and things like that. So the average deal is$39 million. So if you're out there listening and some of these numbers, you're either going, well, I have no idea it's that much money. Well, it's big fucking business, number one, like huge business. And number two, If you thought you were going to sign that sponsorship deal with the NFL, probably isn't happening.

12:57Sorry. Unless you want to cough up 40 mil real fast. It says the league has five deals in place that the publisher estimates to be worth over 90 million annually. EA Sports, that's Madden. Madden Football, every year has all the rights. They could put all the games, all the players, all the teams. They're spending around$90 million for the right to do that,$90 million a year. EA Sports, Anheuser-Busch, InBev, which is essentially Budweiser, Nike, Verizon, and Microsoft,$90 million annually. That's what they're spending for their deals with the NFL. Yeah. The annual value of sponsorship deals that have been agreed by NFL teams is$2.4 billion.

13:51That's the individual deals that the teams are getting. Said the report estimates that the Los Angeles Rams will receive the most from sponsors across the season. Roughly$150 million is what just the Rams are getting with their sponsor deals. Like the one team.

14:15There you have it. Their title sponsorship deal is with SoFi, and it's$30 million annually. That's just for one team. So, like, if you want to be the title sponsor, like naming rights sometimes at the stadium, things like that, for one team, let's say we're here in South Carolina. So we can talk about the Dolphins. We can talk about the Falcons. We can talk about the Panthers. So let's say you want to be the title sponsor of the Panthers, Carolina Panthers. one of the smaller market NFL teams, you're going to spend 20, 25 mil to be that title sponsor of just the one team.

14:56A lot of money. Chris, I don't think we're going to do that vacay deal we've talked about. Not yet. Not yet. One day. Yes. We need it. Hey, right about now, the official podcast of the NFL. You know, that'd be awesome. But I don't know if we're going to write that check yet. Those numbers surprise you guys? I'm surprised that the Rams have that high of a deal. They're ranked like 25th. Yeah. Yeah, they haven't had the best team in a while. It's just LA. Just a bigger market, more people. Yeah. So exposure's higher with the media properties because it's a larger market. Yeah. You know, New York's the same way.

15:44Jets, Giants, large markets, large people. Dallas, big. So big money happening. NFL season kicks off. Hopefully your fantasy teams are set. Get your best place. I saw that there's going to be like$90 billion spent or gambled this year on the NFL. Something like atrocious, like literally the NFL alone with all the war widespread legalization of gambling. And these are like becoming the largest businesses in the U.S. Like between the gambling around it and then the sponsorship and everything of it. insane. So, NFL season starts. Hopefully your team is ready. We've got Baltimore and Kansas City kicking off.

16:37Mahomes and Lamar Jackson, two exciting quarterbacks. Thursday night. Oh, in the not-so-great news, U.S. job openings declined to the lowest level since January of 2021. 21. Vacancies fell to 7.67 million in July, way below all estimates, and layoffs rose to nearly 1.8 mil, highest level since March of 2023. So you got layoffs rising, job openings declining. It'll be interesting to see how many jobs are added when that report comes out. But But we have a softening of the job market and fears of recession kind of still kind of bubbling out there. You know, my personal opinion is I think we'll avoid a recession, but it definitely feels like we're teetering on the line pretty heavily.

17:36And a lot of these data points and a lot of the other news from this, you know, with some of the stock market stuff. I feel like I'll say this, you know, and I think we talked about this, like the job market, like we've had a few openings. And I feel like the candidates that we've talked to have been at a higher quality than the last few years. It's felt that way. That's just anecdotal feedback. It's like maybe the, you know, the best, the most obvious, best candidates are just getting swept up like they were. I don't know. Just an observation. I think pendulum is swinging to people like post COVID people were kind of, you know, not really ready to go back to the workforce or, you know, kind of still doing their own thing.

18:19And then now inflation so high that people can't afford to do their own thing anymore. They need to come back to work. Yeah, a little bit of that. What do you think, Chris? yeah man i mean i see it down here because i think miami is a big entrepreneurial city you know a lot of people trying to do their own thing and i feel like two years ago there was a lot of people i knew that were like doing their own thing and now i know people driving uber so you know and i'm not hating on that at all you know i just think all the ppp money i think there was a lot of money people were throwing around and things are tight.

18:57So even with this, I question, okay, have we lost jobs to, to maybe AI and technology? Yep. Some maybe, but dude, we've talked about this. I mean, when, when businesses aren't making money, they can't pay in police. When the cost of goods and everything else goes up, it's hard to grow your business. It's a really tight spot to be in. Yeah. It just feels, I don't know. It's how we say, I hate the focus group of one. And then I go ahead and give it to you, but Hey, it's our opinion. It's our show. We're giving it to you. I did the buzz, the feel, the sentiment, you know, being an entrepreneur and owning multiple businesses, you sort of get a pulse of how things are.

19:40The vibe is not good right now. The vibe's a little off. There's segments of our business that are doing great, but then there's just enough sentiment, though, as an overall vibe that it feels a little off. And the jobs thing, again, I do feel like putting some, you know, the job listings and things out there, I think the volume of candidates, things like that, signals there's more people out there looking. that weren't in the market a couple years ago? I think some of the more like cushy jobs are facing layoffs, you know, and people are being laid off. I've seen quite a few posts recently, you know, just on Facebook of people being laid off from their jobs and definitely just seeing kind of like a slowdown pre-election in the economy.

20:35You know, there's stuff going on with different businesses, people being laid off, buying slowing way down. Real estate is slowed way down. So it's definitely a really interesting time ahead of this election. Yeah, real estate's definitely slowed down. I don't know that we have an article on today, but everything I've read with it slowing down and house prices actually coming down a little bit, which is not a terrible thing depending on the market. Not here in downtown Greenville, I can tell you that, but everyone else maybe. Not here. Condos and apartments are going down. I mean, the big developments, I mean, you have stuff being left half built right now, like$100 million projects, even multimillion dollar homes on the beach that people are trying to sell, made construction.

21:18So you can see it even in a city of Miami where there's a lot of money, you know, you can see even the big money people pulling back right now. Yeah. I think what they might need is a stimulus, a brand stimulus that is branded bills. You need stimulus for your brand? You go to brandofbills.com. I'm telling you, I'm rocking my social house hat today. I pulled this one out of the old archives. You know, we run social house. If you're in G Vegas, you need to come see us. Best event and co-working space in Greenville. But I've got our social house logo on this leather patch. I'm telling you, the dimension.

21:55Everybody sees it. Hey, that's pretty cool, man. I'm like, I know. I got the stimulus package for the brand at brandofbills.com. You go there, hit that custom button. You get that design team working on your logo. They're going to give you some patches, some new designs, new ways to think about how to bring your logo to life on hoodies. Look, it was a little chilly in G Vegas this morning. I like, I kind of like, ooh, where's my hoodie? Oh, there it is, my right about now hoodie. Got the brand on there. Hoodies, T-shirts, hats, beanies. Telling you, this is what gets your brand kicking. You send that to a prospect, your business.

22:32hey, they're going to go, number one, this company knows quality, and number two, it'll be something they actually wear. Because that's part of the problem. You give out all this merch, people are like, this crappy$2 hat or this sweatshirt that's falling apart after the first wash and dryer shrinks down to a Smedium. That XL going to a Smedium ain't no good, Chris. We cannot have any Smediums. You can't be sending that to your prospects, get people wearing that. You got that employee behind the counter. He's got that Smedium on. And, you know, let's be honest. He didn't need to wear that Smedium.

23:07We need that brand kicking. Brandofbills.com, their official merchandise sponsor. And the brand stimulus package you need. Go there. Check them out. Hit that custom button. You'll thank us for it. We love them. The official merchandise sponsor of Right About Now. So, other things. Lawmakers approved legislations to ban deepfakes. and protect workers to regulate AI. This is coming to us from our good friends at ABC News. California legislation proved a series of bills aimed at regulating the AI industry, combating deep fakes, and protecting workers from AI-related exploitation. I mean, that kind of sounds like not a bad thing.

23:52I wouldn't mind a little AI-related exploiting. Just kidding. These bills now await the signature of Governor Gavin. That's what I'm going to call you. He's the GOV Gavin, who has until September 30th to act or not act. Lawmakers pass legislation banning deepfakes related to elections requiring large social media platforms to remove deceptive content before and after Election Day. There's a lot of words in this article. like deceptive content. I don't know. They kind of ring off. But look, here's the deal. The defects are getting pretty scary, how real they look. Like almost the only way you kind of know that they're fake is like sometimes you're like, OK, there's no way that really happened.

24:47But like, but these people are starting to do such outrageous things. when did we cross this line where we don't know you know what it is you can't tell like some of them the only way I could tell is like the eyes the eyes look dead if it's AI yeah have you seen some of these newest ones Chris yeah man they're all over I mean I saw a really funny one it was Elon Musk and Trump going to the jungle to do ayahuasca together and I was like this is wild you ever wrote this storyline did it look real or was it obviously hokey No, dude, it was so hokey. It was so funny. I mean, but it was shocking. You know what I mean?

25:27I mean, I mostly have been seeing all these AI pictures of, like, Kamala and Trump, where, like, Kamala's pregnant and Trump's, like, standing next to her, like, hugging her, which very clearly is fake. But, no, I think some of this bill of what it talks about, you know, like, you can't clone deceased people without their consent. That makes sense to me. And then even the call centers, like stop firing real humans and replacing with AI. I can get behind that, you know? Yeah. I mean, it's interesting. Yeah. Fighting. At some point, like with these voice actors, you know, I have friends in Hollywood.

26:03We made a movie out there. Even two weeks ago, they were telling me about all this stuff going on. And it's like, okay, you're a voice actor and you're striking because you don't want them to use AI. I'm sorry. It's a business. They're going to use AI because it's cheaper. Yeah. I don't know what to tell you. I don't know how you're going to avoid this. I mean, it says state and local agencies will be banned from using AI to replace workers that call senators under one of the proposals. They also create penalties for digitally cloning dead people without consent of their estates. I mean, I could sort of get behind that one.

26:34Yeah, yeah, yeah. I mean, I'll joke aside, but it's like digital cloning legislation. I mean, this shit's good. What a time to be alive. What a time. What a time to be alive. I don't know how you're going to fight the using AI to do work that is more efficient eventually. It's like fighting the Internet. Good luck. But it is California, so they will try. Yes. it said the legislation sent by lawmakers to the governor's desk requires developers to start disclosing what data they use to train their models I mean this goes back to you know I've talked about this before it's like you got it it's if they're going to do this again can't fight the technology but they at least got to pay for where the source of the data comes from and you're seeing that more with like the data deals and like that's the problem too is we all opt in and agree to give our data every time all these apps and stuff we're not reading the terms and service agreements yeah well exactly we might be like giving them a life away yeah exactly to call me when i'm dead

27:50digitally cloning i loved that old arnold schwarzenegger movie did you guys ever see that one about the cloning like the terminator no it was like the sixth it was called the sixth today. I've heard. I remember it. Maybe. I've seen a lot of like. I had an older brother and we only had like a couple VHS tapes growing up. So it was on repeat. Yeah. What's the show that was on HBO? I mean, that's the biggest thing. It's like that. Westworld. That show is wild and it was a good show, but it's like we're not far from that. You know, like with these, the robots, like Elon's got the robots being made to look and act more and more normal and other providers.

28:37And then when you can put in the engine slash the brain of these things being AI, it used to just know like that felt really far away. That feels like any moment away, right? Yeah, yeah. I feel like you're going to get, you know, you're going to see the videos of them having one in a room and you not knowing it or something. Yeah. And then telling you, you know, who's the robot in the room? I don't like it. We're going to have scanners on our phones to tell us, like, who's the robot and who's not. Like, who's got blood pumping through their brain? I don't even think they had that in, like, Westworld to a degree.

29:22It's like, mm-hmm. Do-do-do-do-do-do-do-do. Look out. It's coming. Uh,

29:33again, you, you know, you have to know my humor and my cynicism just so in case you're a first time listener, like, or watcher, uh, I laugh at things that made it up like, because it's just sort of the irony of it in today's. And like, it doesn't mean I don't take it seriously, but this chase thing, you know, it makes me laugh because on one hand, one, I don't, I don't want any bank or company getting defrauded. So it's not that that's funny. it's more like the naivety of like the kids or people that are doing this, like that somehow they're not going to get in trouble for it. Anyway, jumping to the article, Chase warns against using system glitch to filch cash.