The following podcast contains explicit language.

Hello and welcome to Slate Money, the Fuck It I Quit episode of our weekly podcast guiding

you through the important business and finance news of the week. You might have seen

the Alaska TV reporter saying those very words as she revealed that

she was the owner of a marijuana business.

But this week, there's an even more important person who basically said exactly the same thing.

I'm Felix Salmon, a fusion in New York.

And as you can hear, we have the instantly

recognizable voice of Kai Rizdal in Los Angeles, is joining us as an extremely special guest

this week in the sad absence of Kathy O'Neill.

We also, of course, have Slate's very own moneybox columnist, Jordan Weissman. Good to be here, as always. This week, we will of course have Slate's very own money box columnist Jordan Weissman. Good to be here as always.

This week we will of course talk about the fall of the Bond King, the Friday morning announcement

that Bill Gross, the legendary Bill Gross is resigning from Pimco, the fund that he founded

which made him a multi-billionaire.

We'll also talk about Yahoo and its stock price and its valuation.

Can a company be worth minus $8 billion?

And we'll also talk about another set of mystery values, other people's salaries,

and what happens if you dispel the mystery around how much

people earn? And of course, we'll have a numbers lightning round at the end. But we're going to

start with the huge news of the week from Friday morning, Kai. What happened over in Southern

California where you are? That's exactly it. It comes out of Newport Beach, California. Bill Gross, the head of Pimcoe, the company, as you said, that he started 40-something years ago, has said, to quote you and that lady up in Alaska, fuck it, I quit. He is done. He's out of here. He is going and starting on Monday, in fact, at Janus Capital. This is a big, big deal. He's not taking much time off. No, and well, and we can talk about this later, but what about non-compete clauses? Hello? Do they not exist up in the upper stratosphere of finance? You know? Well, evidently, if you're the founder of the company, you get whatever clause you want.

I was that to say, I imagine he was negotiating that contract pretty much with himself at that point.

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