E126: Big Tech blow-out, Powell’s recession warning, lab-grown meat, RFK Jr shakes up race & more
- Apr 28, 2023
- 1:16:11
- Full Episode
(0:00) Bestie intro! (1:10) Google's mixed bag, Big tech leaves the growth phase, macro picture (24:21) AI update: new projects, global enablement, early adoption (37:38) SF CRE continues to collapse, Gotham City update (47:52) Lab-grown meat: possibilities, potential impact, and major constraints (1:06:47) Quick earnings button and RFK Jr's presidential bid
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Referenced in the show: https://www.google.com/finance/quote/GOOG:NASDAQ https://www.cnbc.com/2023/04/25/google-authorizes-70-billion-buyback.html https://www.cnbc.com/2023/04/25/googles-cloud-business-turns-profitable-for-the-first-time-on-record.html https://www.cnbc.com/2023/04/20/alphabet-merges-ai-focused-groups-deepmind-and-google-research.html https://www.theinformation.com/articles/in-google-founders-shadow-ceo-pichai-discovered-the-limits-of-his-power https://abc.xyz/investor/static/pdf/2023Q1_alphabet_earnings_release.pdf?cache=0924cc https://thehill.com/business/3975838-fed-chief-duped-into-fake-interview-with-russians-posing-as-zelensky https://fred.stlouisfed.org/series/JTSJOL https://fred.stlouisfed.org/series/CIVPART https://www.lawnext.com/2023/04/harvey-ai-raises-21m-in-a-series-a-round-led-by-sequoia.html https://www.wsj.com/articles/pricewaterhousecoopers-to-pour-1-billion-into-generative-ai-cac2cedd https://twitter.com/friedberg/status/1651371655774584832 https://twitter.com/mckaywrigley/status/1651291367224807424 https://www.wsj.com/articles/san-francisco-commercial-real-estate-office-buildings-471742ea https://twitter.com/Jason/status/1650974906916671493 https://www.kron4.com/news/bay-area/ex-san-francisco-fire-commissioner-attacked-homeless-people-with-bear-spray-attorneys-say https://www.wsj.com/articles/inside-the-struggle-to-make-lab-grown-meat-12cf46ab https://www.cnbc.com/2023/04/27/amazon-amzn-q1-earnings-report-2023.html https://twitter.com/RobertKennedyJr/status/1649190840198209537
Brief Summary
The episode discusses lab-grown meat, Google's earnings, AI's impact on jobs, and the tech industry's future amidst economic uncertainty.
Key points
- Google's Earnings Call Insights. A deep dive into Google's mixed earnings report and the implications for its future.
- Fed's Economic Outlook. Jerome Powell's uncertain economic outlook raises questions about the future of the economy.
- The New World Order. We're transitioning to a new economic landscape where labor and capital dynamics are shifting.
- AI's Impact on Knowledge Work. AI could enable knowledge workers to be 30% more productive, changing the job landscape.
- The Rise of Global Basketball. In the 90s, basketball gained worldwide popularity, leading to incredible talents emerging.
- Commercial Real Estate Crisis. A downtown office tower valued at $300 million is expected to sell for only $60 million.
Episode highlights
- Google's Earnings Call InsightsA deep dive into Google's mixed earnings report and the implications for its future.“What was really missing was a stronger voice and a strategic plan.”3:40Apr 28, 2023
- Fed's Economic OutlookJerome Powell's uncertain economic outlook raises questions about the future of the economy.“The most likely scenarios were either sub one percent growth or going into recession.”13:35Apr 28, 2023
- The New World OrderWe're transitioning to a new economic landscape where labor and capital dynamics are shifting.“We're going to near shore or onshore all kinds of things that used to be done by the Chinese.”21:30Apr 28, 2023
- AI's Impact on Knowledge WorkAI could enable knowledge workers to be 30% more productive, changing the job landscape.“If every worker is 30% more productive, their wages should be able to go up by up to 30%.”29:04Apr 28, 2023
- The Rise of Global BasketballIn the 90s, basketball gained worldwide popularity, leading to incredible talents emerging.“You just had more people playing with basketball.”37:21Apr 28, 2023
- Commercial Real Estate CrisisA downtown office tower valued at $300 million is expected to sell for only $60 million.“It's going to trade way below its replacement cost.”39:42Apr 28, 2023
- Chaos in San FranciscoA fire commissioner was attacked, highlighting the city's lawlessness and chaos.“This proves anything, I mean again, it's Gotham City.”47:17Apr 28, 2023
- Protein Production RevolutionAdvancements in biomanufacturing could lead to cheaper, animal-free proteins.“Make proteins cheaper and that is good.”54:39Apr 28, 2023
