Trump’s Memestock Goes Public, the Problem with DEI, and Daniel Kahneman’s Legacy | Prof G Markets
HTML-код
- Опубликовано: 28 май 2024
- This week on Prof G Markets, Scott breaks down Truth Social’s first couple days on the public market and questions how Trump might cash out of his shares. He then takes a look at a report that reveals how ineffective corporate diversity, equity, and inclusion programs can be. Finally, Scott discusses the work of Daniel Kahneman, a Nobel Prize winning economist who greatly influenced how he thinks about money.
Pre-order Algebra of Wealth now!
www.amazon.com/Algebra-Wealth...
Timestamps:
00:00 - This week's number
00:33 - Today's episode
04:12 - Market Vitals/Headlines
13:44 - Trump’s Memestock Goes Public
26:14 - the Problem with DEI
33:50 - Daniel Kahneman’s Legacy
43:32 - Week Ahead
43:44 - Prediction
Subscribe to The Prof G Pod on Spotify
open.spotify.com/show/5Ob5psT...
Got a question for Prof G? Get answers on TikTok:
/ profgalloway
Want more Prof G? Check out everything we're up to at
profgmedia.com/
#business #news #tech #finance #stockmarket #profg #scottgalloway #profgmarkets #earnings #stocks #trump #memestocks #truthsocial #ipo #publicmarket #donaldtrump #dei #diversity #equity #inclusion #danielkahneman #nobelprize
Your Warren/Sanders rant is spot on. I'm in the real estate business and all I hear is how "self made" these people are, but they refuse to acknowledge that government subsidies are what "made" them. If not for FHA, VA, FNMA (Fannie Mae), FHLMC (Freddie Mac), and USDA, they wouldn't be able to sell anything. 95%+ mortgages are one of those loans. Government backed loans. But they hate paying taxes and love complaining. I say, shut up, pay your taxes, and say thank you.
Like Arnold Schwarzenegger says: there are no self-made men.
Scott’s ethics, ideology, and underlying philosophy is an inspiration in an America culture lacking role models that don’t feel slimy and corrupt to force their voice upon the culture. I love how this podcast hits sensitive topics most wouldn’t dare touch upon and suggest cultural and political corrections to move the culture forward. The beliefs feel to be Scott’s own, and that he’s not just bending to the landscape of red or blue at any political moment. It’s all a breath of fresh air, the transparency and honesty baked into the podcast. Also Ed openly calling bs, when necessary, from a younger perspective, is a great contrast of opinion, that I appreciate.
Man every time I listen to Prof G I feel a little smarter. I feel a genuine sincerity in every sentence.
Every other pod tries not to say anything naughty in the first 5 minutes. This one leads with the worst thing said in the entire episode in opening 30 seconds. Incredible dedication to demonitizaiton.
39:20 For reference, the $100k/year salary when Prof G graduated from B-school in 1992 and first felt comfortable is now $223k adjusted for inflation.
After a life in med school academia, my wife & I retired to a lakefront log home in *rural* Texas. I have numerous neighbors that had *never* invested in anything more risky than CDs. BUT, they have bought shares in DJT & bought God Bless the USA Bibles because they are Trump cult believers. They are the people that will lose their life savings. I’m a decade older than Scott, & I agree with him regarding a time when Congress, & *definitely* The Supreme Court, were assumed to have laudable ethics. I haven’t yet determined if that was true, or if I was naive..
That intro 💀 😂
Great intro
I like to see how far he can push the line before getting cancelled
@@arod2050 Agreed 😂
Comedy is not his forte
Canceled... Possibly after the live all nude champagne and cocaine bible belt comedy tour.
I really appreciate Scott’s empathetic and realistic view of the world. I think the commentary about incremental happiness was really insightful and should be turned into an ad that plays on a loop for all to hear.
Keeps getting better!
LOVE to hear Scott talk about wealth & taxes,
Appreciate his experience, strength and hope!
I enjoy all things Scott Galloway. His books, podcast, interviews... keep it up Professor 🙂
Amazing to hear this from you Scott (regarding DEI) I fully agree. We live in weird times.
Actual DEI should be based on socioeconomics to be effective not on superficial criteria, i.e. virtue signaling.
"Start investing in this relationship" funnier than the opening joke!!!
Jeez....Scott...that was genuinely, ART...You good sir...are a wordsmith
Well said Scott about the money, tax and happiness and how an extra 10 grand at the lower end makes such a difference. I agree.
Prof G is a true G!
41:54 "We should be taxing the sh*t out of people who make more than a million bucks, because what we're taking from them is very little. It's not really going to impact their self-worth, their happiness, their satisfaction, and if we can redistribute that money to the one in five households where kids are food insecure. It's just going to tangibly change the course of their life in their self-esteem and their ability to find time to love others and love themselves."
The intro was Andrew Dice Clay worthy
That starting joke is worth a thumbs up! Let’s get randy
I appreciate this insight and discussion- thank you
Dr. G and Mr. Randy
Spot on with Singapore comparison Also, multi ethic and multi religions living in harmony
Can we get Scott on the Lex Fridman pod?
Prof G doesn't need the Joe Rogan light audience. Amazing guests but God lex is a bad podcaster despite his views and an amazing agent. "The answer is love" 😂 possibly the biggest Musk cuck in existence.
Ed, we've heard Scott talk several times about not letting emotions influence your decision making when it comes to investing or selling. What Scott failed to address are solutions that would educate us on how to make a decision about buying or selling. What (and how) should the average investor be researching to make an informed decision? It would be great if you could lead Scott to creating a mental flowchart for people to follow. What is most important in a financial statement? How to calculate a company's value? Thanks for your consideration.
If you don’t have special opportunities because of your specific situation in life, buy and hold low cost index funds. He says it every time.
@@Delrin3030 Yes, Scott says that all the time but it has nothing to do with the question I am asking. You've heard about a stock -- what are the processes one should follow to determine if the stock is a buy?
@GregCurtin45 He did answer your question. You asked what average investors should be researching to make an informed decision. The answer is to research why average investors should invest in low-cost index funds, not stocks.
If youre buying a stock because it’s going up and people said to buy it. Don’t buy it.
Everything you said about DJT is true and also applies to crypto. Real trade volumes are so low and market is so open to manipulation that you should stay away from even shorting even though real world business use cases aren’t anywhere close to support valuation/market cap
He doesnt know crap - he has TDS. Go and watch David Sacks explanation and others on the All In Podcast for a more unemotional explanation about what it is.
You’re confusing a total scam with a scarce asset. Hint: DJT is the scam.
These are the presidential debates the masses are thirsting for
The pain from loss is twice as strong as the gain.. and any gain satisfaction is short lived
Powerful closing. 38:32
Nice show I’m listening to it as I’m driving westbound on 72 through Illinois chasing tornadoes today some tornadic supercells
Great as usual! Keep it up
Prof.G, I guess, opposed to what you may have thought about Egypt up to this day: this trip and the monuments will knock your socks off. We often forget this ancient world of science and math from 4500 years ago. It will be a deeper reaching experience, and will answer a lot of your innermost questions relating to life itself. For someone like you: if you had not planned this trip, I would have recommended to you to go there.
Oh my God! What kind of intro was that ? Brilliant 🤣
32:42 👏👏👏👏👏👏 A skills based assessment, a society that focuses upon merit above all, not how expensive of a college degree your parents could afford for you, not how rich people in your network are, would be amazing for the economic inequality all races are feeling in the current economy.
If it’s noticed that certain races tend to pass or fail the skill based assessments then they could take that data and see if it correlates to the level of funding directed to particular grade schools to help correct the merit issue. Not solely categorize everything as a race issue. I’d argue it’s more likely that if there’s a group of people struggling in the skills assessment, it most likely that their grade school was underfunded and some financial assistance and general support could really help those students out.
Good podcast
Prof G I would love to travel with you. Host a trip! ❤
This week's intro joke was disgustingly hilarious & true to The Times we face🙈🤢🤮🤯😂🤣😂🤣
Carnival has a 32bn debt…and yes Scott is always first to catch a trend .. I shorted Tesla based on his talk in Austin .. and lost the value of a Tesla :)
Scott, you are good! Your Disney prediction was right on. I like your Singapore analogy: If we pay our government more, we could be a little harder on their corruption.
It's not just increased income that brings happiness, it's also eliminating debt - which I suppose could be considered a form of income. The biggest jump in happiness I ever had was when I paid off my student loans in my late 20's (something possible to do back in pre-2000's world) and went from living on the margins of desperation to having a path with opportunities and the ability to take risks. As a successful Gen-Xer, I have no problem paying more taxes if it translates to making life a little easier for those that can use it to move on to prosperity and positive contributions to society.
Guys…glide gear makes one of those mirror teleprompters so you aren’t always looking down. You can set it up to where you’re looking into the camera when talking to each other or when reading the news.
That’s the Amazon one I mentioned. I wouldn’t be surprised if there are even better options for an established podcast.
Scott! ❤
That money-happiness paper found that the correlation between money and happiness is very weak. And it's still a correlation with at least a partial question mark on causality
Come for the opening, stay for attempts to stay in character.
Nice segment on the other Danny K. Cool cat.
🎉❤😊Challenges are what makes the world go round. Choose your goals wisely. Live, love and learn 😮
Thanks so very much, Scott and Ed, for your fascinating, fun and informative discussions.😊🎉❤
"It's not easy to find families you like who have kids, it is NOT easy." We must be lucky because we know at least 5 or 6 -- pretty much everyone we hang out with. We go camping together and have traveled. 🤔
"...and their ability to find time..."
I have encountered so many people that I call "rich people smart"--the kind of "smart" that comes, not from innate ability or hard work, but from not having to spend so much time solving the problems of life, eg. how am I going to pay rent?, where's my next meal going to come from?, etc.
People that are "rich people smart" drive me bananas when then act like they're either talented or hard-working for no reason other than their privileged upbringing.
DEI discussion was incredibly shortsighted. scott’s perspective is incredibly important, but it highlights the exact reason why you want to make sure that your organization isn’t dominated by anyone specific perspective. Sticking your head in his hand and thinking that these things aren’t legitimate issues because people come with their own experience and the resulting opinions that form from them, it is something that you have to address. Whether you wanna call it DEI or anti-confirmation bias you need to do something.
Give Celebrity Cruises a try Scott
I work in DEI corporate training. We produce on site live streamed content from historical sites. We name and display heroes and allies. We don’t show or name meanies. It works makes everyone feel respected and respectful. It’s awesome. Forbes calls it the number 1 way to celebrate Juneteenth for remote and hybrid workforces. I think we can create welcoming environments which are more profitable in labor shortages. We can create environments where people feel good about themselves and their colleagues so they are more productive.
Nice to see Prof G agree with Elon on DEI. 🎉
2:46 Ed targeting the Egypt/Africa part instead of Easter/Christmas 🤔
The premier of Singapore understood in the 90$ that paying 450k salary to its team would prevent them from searching other deals… my humble experience in Jakarta in the 2000.. how a general with a 5k$ monthly salary could invest in Hilton franchise….
DWAC could be the biggest story coming into the election this year. And if Trump dumps the stock and his followers lose significant amounts of money, it could hurt his voter turnout. Ignoring all of the other legal and regulatory issues.
Good catch on SIG, Ed. I have a non-compete there. The last thing it wants is publicity, very secretive operation.
I came here to hear Scott tell his dirty joke and wow ty lol
DJT stock has a cost to borrow around 500%. This leads me to wonder if Trump can loan his shares out right now and collect that interest. If so, there is another question that should be asked and investigated.
Do people who make $10 million per year get a W2?
Scott my man, I swear you aged a bit faster since two episodes ago. What happened? Are you sleeping well? Anyway, I love your content as usual, insightful and entertaining. I keep recommending your channel to both my enemies and friends, both for different reasons.
In my day "80's millennial" cousins were the family with kids you travelled with. And you'd have to see at least 3 sets of cousins or grandparents so that there was always a other kids visiting because we didn't have tv, music or Nintendo so parents really made the effort if they had any hope to enjoy any part of the expense of vacationing lol.
What was that joke about taking anal for a few weeks back? I've been trying to find it, it was so hilarious.
28:30 nothing has been fixed...
Scott.. you are turning into a piketty fan :)
I have a buddy who's dad danced on cruise ships. And accountant by day.
Hahahahahahahahaha the intro
If the board approves Trump selling before his lock out, there will be huge investor law suits immediately. There might be huge investor law suits regardless.
Which might not matter if the polls are correct.
We're having every conversation possible EXCEPT FOR CORRUPTION & CLASS!!!! Guess which would be more helpful for everyone - if they had more control over their future by the amount of money they make....
That opening took me right back to grade school.
Where you belong, apparently 🤮
I thought that Ed Elson had studied classics. And he pronounces "anti" how?
Im with you about everything except raising Congressional wages. Unless people are destitute, I just don't think there is a salary we could give people that would make a difference in corruption. If what we'd all call corruption is legal, people will do it, because everyone wants more money. The goal must be to end this corruption through effective conflict-of-interest laws. Everyone in Congress needs to declare conflicts, and whenever realistic, put their money into blind trusts or etfs while in office. If it's not realistic (like the person owns most of a company, or the money is illiquid) the CoI laws, disclosure, and enforcement need to be very strong, and actually enforced. So for example, if you own millions in an oil or tech company, you don't get to be on those industry's regulation committees, just like you couldn't be a judge for a trial of a company you own a significant stake in.
Russian, chinese or saudis money, take you bet on djt lmao
If Huberman didn't get cancelled I'm guessing Prof G won't. Also, is canceling dead?
Boeing is a mess. They're gonna need an Elon Musk type guy running the show on the ground to right that ship.
😮
I like this post-ketamine Professor ❤
Post Ketamine new sensitivity. Let’s see if you feel the energy of the Great Pyramid.
I would guess that a good part of the truth social subscriber base are mainstream journalists looking for something to write about every day😊
Will Prof G ever share with us how to get his white teeth?
You like what Singapore does by paying their politicians a lot of money so they won't be tempted towards corruption? Because if you're, rich you'll be honest?
Arteries harden it's just how it goes. Do what you can to slow it down
With a dad like THAT, no wonder Prof G is so screwed up
One of the problems with redistribution is poor populations are not financially literate, so the money will not be used wisely. Much more important than taxing and redistributing is teaching financial literacy beginning in 6th grade. I went to private school for both elementary and high school and graduated having no idea how to use money wisely. Teach a man to fish.
I agree that teaching financial literacy is vital. I disagree that the poor spend money unwisely (in general). If the poor population get an increase in money via redistribution, they will likely spend it on food, rent, and other vitals like clothing, transportation and maybe even training and education. I think it is an unhealthy meme that says the poor just blow money on silly stuff. I’m not saying it doesn’t happen, but I am very suspicious of the frequency people assume of “welfare bums”.
I would say welfare ignorance over welfare bum. I believe no matter how the money is spent, it is spent from an infinite paycheck to paycheck psychology, thus never really improving the life of the human, and thus that psychology is likely to be passed to offspring.
Friend and I rode DWAC up and down cashing in royally.
It’s mostly all supporters making their voice known in one more way. Use the system to profit off the system.
Lack of alcohol bro
( high blood pressure)
Scott is looking out on boards and at CEOs and thinking that there's not enough white men represented lol.
Bad news.... Cairo is gonna cause you a lot more stress!
Pyramids, visit the boat. Museum is a must and Tuts tomb items. Leave the rest and head to Luxor
tax the rich its so obvious.
trump will sell options on his shares to a private lender for .2 on the dollar, a good gambit to take to the lockup. and he wont have to sell much compared to the value of the company.... but he better do it quickly.
The problem, Scott, is that the government will not take the tax paid by the rich and redistribute it to the poor. They will keep it. By taxing the rich you're merely switching the tyranny from the wealthy to the state.
LoL, how do they "keep it".
@@SaemGhani I guess by not redirecting/redistributing the money as seen fit by those who wish to "tax the rich." Using it for purposes dictated otherwise.
@@SaemGhani By appropriating it in ways that will never ever
benefit you.
Jack and Jill went up the hill.
Each with a bucket of quarters.
Jill came down with two fifty.
Do you think they went up for water?
Jealousy, name calling, and terrible jokes; un-becoming an aspiring intellect... and I can't stop listening. (Wow, irony: 69th comment.)
2:56 I wonder what the percentage of Americans who knows this is. Certainly less than the half.
LOL
I've always liked Scott... but I think I may be in LOVE with post-ketamine Scott.
😂😂😂
Why is diversity of race/gender/ or view point a worthwhile goal? It seems to me that the most successful startups - meta, google, etc didn't start like this.
Regarding Daniel Kahneman: There is no Nobel price in economics, it's a price fron the Swedish central bank in honour of Alfred Nobel. Economy is not a science.
The Professor maybe right about the marginal gains in adding more to ones bottom line, but I dont see nor will I ever see anyone including the Professor giving up anything more than the # that makes them happy. I believe the Prof once said he had made $37 M by investing in AMZN & AAPL, doubt the Prof will want to give up $30M of it if he truly believes that he doesn't think there will be any decrease in his or his family's happiness. Think those who generally talk about happiness & money are the ones who have it and aren't generally going to be giving it away anytime soon.. The person working paycheck to paycheck don't have time to think about happiness etc they are doing the best they can to survive and stay out of trouble, and sadly they dont have the ability to listen to this podcast either between work & some sleep their life is consumed....
Lol Scott is such a dangerous person on a topic like DEIB. Confidence over actual knowledge
Great episode by Tucker Galloway
By the year 2035, our models predict that the average price of Bitcoin will exceed $259 million. This long-term forecast highlights the expected continued growth and adoption of Bitcoin as a major digital asset in the financial landscape. AMBCrypto’s analysis
Taxing the shit out of income over 1 million? You already are. In California I'm paying more than 50% income tax over every dollar I make over a million. More than half of my work is being confiscated from me at that point...