Topic: William Randolph Hearst

A federal bill is moving toward legalizing industrial hemp for the first time in 80 years as part of the 2018 Farm Bill. The hosts discuss the economic potential of the CBD market and the historical reasons for hemp's prohibition. Dvorak attributes the original ban to William Randolph Hearst's desire to protect his timber investments from hemp-based paper competition.

Elon Musk characterizes the advertiser boycott of Twitter as an "attack on the First Amendment," orchestrated by activist groups. He notes that Twitter is particularly vulnerable because its revenue relies on large brand advertising rather than direct response ads. A historical parallel is drawn to William Randolph Hearst, who reportedly vowed to destroy companies that pulled advertising from his newspapers.

The conversation shifts to the crass demeanor often found in successful business moguls, comparing Donald Trump to figures like John DeLorean and William Randolph Hearst. The popularity of television dramas like HBO's Succession is cited as evidence of the public's fascination with dysfunctional business dynasties.

The hosts discuss historical methods used by leaders to avoid the press, including Franklin D. Roosevelt's private train spur under the Waldorf Astoria. John C. Dvorak shares an anecdote about a secret bookshelf door in the Canadian Prime Minister's office used to evade reporters. They conclude that Trump's desire for privacy is not unprecedented.

The history and purpose of the estate tax are discussed, with the hosts noting how wealthy families like the Hearsts use elaborate trusts to bypass the tax and maintain control over their wealth across generations.

A segment from Family Guy advocating for marijuana legalization is discussed, referencing the historical role of William Randolph Hearst in criminalizing hemp. The hosts also note a Wall Street Journal report on the "Emerald Triangle" in Northern California facing competition from large-scale pot farms in Los Angeles County.

Listener emails describe extreme adverse reactions to high-potency medical marijuana, including prolonged paranoia. The hosts compare these modern accounts to the 1930s "Reefer Madness" propaganda campaign led by William Randolph Hearst. They debate whether current media stories about "flipping out" on weed are organic or part of a campaign to prevent legalization in California.