Morning Brew Daily
Meta Kills Fact-Checking & Medical Debt Gone From Credit Reports?
Wed, 08 Jan 2025
Episode 492: Neal and Kyle discuss the major decision from Meta’s CEO Mark Zuckerberg to rollback fact-checking programs across its platforms in an effort to promote “more free speech.” Then, Donald Trump Jr. visits Greenland while his father has expressed interest in buying the island for the US. Next, the CFPB announces a new rule that will bar medical debt being used against your credit report. Plus, Dell is rebranding its PCs by ditching confusing names and going with simple words such as “pro” and “pro max.” Sound familiar? Lastly, the biggest headlines you need to know for the day. Subscribe to Morning Brew Daily for more of the news you need to start your day. Share the show with a friend, and leave us a review on your favorite podcast app. Checkout public.com/morningbrew for more Listen to Morning Brew Daily Here: https://link.chtbl.com/MBD Watch Morning Brew Daily Here: https://www.youtube.com/@MorningBrewDailyShow All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS. Cryptocurrency is highly speculative, involves a high degree of risk, and has the potential for loss of the entire amount of an investment. Cryptocurrency holdings are not protected by the FDIC or SIPC. APY as of 1/2/25, offered by Public Investing, member FINRA/SIPC. Rate subject to change. Learn more about your ad choices. Visit megaphone.fm/adchoices
Chapter 1: What decision did Meta's CEO Mark Zuckerberg make regarding fact-checking?
Good morning, Brew Daily Show. I'm Neil Freiman. And I'm Kyle Hagee. Today, Mark Zuckerberg takes a page from Elon Musk's book and rips up Meta's fact-checking system.
And Greenland is back in the news after Trump reaffirms his intention to purchase the island. The only issue? Greenland says it's not for sale. It's Wednesday, January 8th. Let's ride.
Like many people you know right now, Toby is out sick and hopefully crushing tea at home. Feel better, Toby, and everyone else who's laid up this winter. But we are delighted to have 2024's sixth man of the year, Kyle Hagee, back on board. Kyle, thank you for joining me.
Yeah, happy to be here. Happy New Year, Neil. What? Happy New Year. You can't say that.
You said it yourself.
It's January 8th. You cannot say Happy New Year. I think you can say Happy New Year all of January and at any time whenever it's the first time you're seeing someone, even if it's like October. Well, they'll look at you very funny. I think you keep the good year, the new cheer going. Okay.
But we know that the authority on such matters, Larry David, has said that the Statue of Limitations for wishing somebody a Happy New Year runs out three days after January 1st.
Yeah, I mean, I'm a big Seinfeld fan. I'm a big Curb fan, but Larry David has this one wrong. I'm going to have to talk to him after the show.
I think you're in the minority here. People are going to look at you weird. You can't say happy birthday on January 8th if it's not somebody's birthday. In a similar fashion, you can't say happy new year on January 8th. I want people to sound off in the YouTube comments and see who's right, me or you, and it's obviously me.
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Chapter 2: What are the implications of Trump's interest in buying Greenland?
And you might be thinking, wow, this is such an outlandish idea, but the U.S. has bought land before. Sovereignty purchases are responsible for more than 40% of U.S. land. And a number of times in our history, the U.S. has tried to buy land. Greenland, most recently, post-World War II in 1946, we offered $100 million for it. They rejected it. Now, you know, who knows what it's worth?
The Washington Post did a deep analysis, and they said it could be worth anywhere from $200 billion to $1.7 trillion. But we should say, this is—it's not for sale. Greenland right now is a semi-autonomous region of the Kingdom of Denmark, and as you alluded to, The people of Greenland do not want to be under the auspices of Denmark for much longer.
The problem is Denmark pays them $550 million per year in subsidies to protect them and they provide security. So there is an interesting tango going on right now. And, you know, people who say, Trump, like, we know that Greenland is a strategic area. Instead of buying it, why don't you invest in it? You know, partner with Denmark and Greenland to push, you know, U.S.
interests there instead of having Russia and China sort of expend their influence there.
100%. And we already do partner with them. We have a Space Force base on Greenland. And we also have some outside investors, including Jeff Bezos, who are working on mining companies to extract minerals. So there's already some good relations. They might be getting strained now. And this will definitely be a story to keep your eye out as we move into the new year, Neil.
medical debt, which approximately 100 million Americans have some form of, I have some potentially good news for you. It won't affect your ability to get a loan. This is because the Biden admin finalized a ruling yesterday that will end the inclusion of medical debt on credit reports, and it is going to ban lenders from using certain medical information in loan decisions.
This rule will remove an estimated $49 billion in medical bills from credit reports of about 15 million people, the Bureau said in a press release. The Bureau also predicted it would increase credit scores by an average of 20 points for those affected and would drive upwards of 22,000 additional mortgages every year.
Now, if those 22,000 people want to hit me up and give me some advice on how to buy a home, I am all ears. Neil, we've heard so much about the medical debt problem in America. Yeah. You heard in my intro, it affects about 100 million Americans in some capacity. What are your thoughts on this new rule to get medical debt off of credit report?
Well, the CFPB said they came to the conclusion that medical debt is just a poor predictor of your ability to repay a loan, which is what a credit score does, essentially. And the trends have been moving in this direction already. It's medical debt is already treated differently. than other kinds of debt on credit reports.
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