Charlo looked a bit sheepish when Jacobs rocked up, starstruck maybe. Jacobs showed him who the boss was.

"I'm on M's, you ain't seeing no M's yet"

Jacobs was telling him he doesn't offer him anything. Just the natural cycle of boxing, everyone chases down their most valuable alternative, so for Jacobs and Saunders it's Golovkin/Canelo, for the guys behind them it's them and so on.