First off all, who records telephone conversations between friends? When you're Michael Jackson you had no friends, evidently.
The friend in question is named Glenda, who recorded this conversation in 1992.
Michael talks openly and honestly about abuse and ridicule he suffered at the hands of his father, Joe. Plus, how Joe would hit him up for money. Michael also opens up about a woman he was seeing but never had sex with and how he wanted a real relationship. Etc.
This is interesting. Take a listen.
[ note: transcripts are out of sync with the audio in part 3]