E142: "Rich Men North of Richmond" hits #1, upward mobility, real estate capital crunch, Trump RICO
- Aug 18, 2023
- 1:30:21
- Full Episode
(0:00) Sacks' big night (2:56) Sacks on spirits (14:27) "Rich Men North of Richmond" goes viral and debuts at #1 on Apple Music, upward mobility issues in America, solutions (53:01) Michael Burry's bet against the market: overblown? (58:33) Real estate capital crunch (1:12:26) Trump's newest indictment (1:23:31) What Adyen's big drop means for Stripe's valuation
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Intro Music Credit: https://rb.gy/tppkzl https://twitter.com/yung_spielburg
Intro Video Credit: https://twitter.com/TheZachEffect
Referenced in the show: https://youtu.be/sqSA-SY5Hro https://www.azlyrics.com/lyrics/oliveranthony/richmennorthofrichmond.html https://ricochet.com/942803/qotd-solzhenitsyn-on-the-liars https://www.advisorperspectives.com/dshort/updates/2021/10/25/updated-u-s-household-incomes-a-50-year-perspective https://www.cnn.com/2023/08/15/investing/michael-burry-stock-market-crash/index.html https://www.sec.gov/Archives/edgar/data/1649339/000090514823000689/xslForm13F_X02/informationtable.xml https://fred.stlouisfed.org/series/MORTGAGE30US https://www.wsj.com/articles/wall-street-is-ready-to-scoop-up-commercial-real-estateon-the-cheap-6edac64f https://twitter.com/rothcre/status/1691910066952351963 https://twitter.com/chamath/status/1691789175786246246 https://d3i6fh83elv35t.cloudfront.net/static/2023/08/CRIMINAL-INDICTMENT-Trump-Fulton-County-GA.pdf https://www.lawfaremedia.org/article/what-the-heck-happened-in-coffee-county-georgia https://www.google.com/finance/quote/ADYEY:OTCMKTS
Brief Summary
The episode covers nightlife stories, economic struggles, and Trump's legal issues, focusing on the song "Rich Men North of Richmond."
Key points
- Sax's Wild Night Out. Sax recounts a wild night in L.A., comparing it to a mythical Shangri-La.
- The Backlash Against Snow White. Discussion on the controversy surrounding the new Snow White film and its changes.
- Rich Men North of Richmond. A song that captures the frustrations of the working class and the feeling of being unheard.
- The American Dream Dilemma. For many, the American dream of upward mobility has not materialized, leaving them disillusioned.
- Moving Up the Economic Ladder. A focus on how individuals can progress economically rather than just discussing wealth distribution.
- Victimhood Mentality. Discussing the implications of viewing oneself as a victim in society.
Episode highlights
- Sax's Wild Night OutSax recounts a wild night in L.A., comparing it to a mythical Shangri-La.“You last night in L.A. was like Shangri-La.”1:18Aug 18, 2023
- The Backlash Against Snow WhiteDiscussion on the controversy surrounding the new Snow White film and its changes.“They made the dwarves non-dwarves!”11:45Aug 18, 2023
- Rich Men North of RichmondA song that captures the frustrations of the working class and the feeling of being unheard.“It's a damn shame what the world's gotten to for people like me.”16:52Aug 18, 2023
- The American Dream DilemmaFor many, the American dream of upward mobility has not materialized, leaving them disillusioned.“The story of the American dream has not played out for most Americans.”24:49Aug 18, 2023
- Moving Up the Economic LadderA focus on how individuals can progress economically rather than just discussing wealth distribution.“The real question is how do you move up?”34:52Aug 18, 2023
- Victimhood MentalityDiscussing the implications of viewing oneself as a victim in society.“People can't just buy into this victimhood mentality.”45:37Aug 18, 2023
- Cultural Differences in MindsetExploring the contrasting perspectives of Americans and Italians on life and achievement.“Americans all just want to talk about where things are going.”48:09Aug 18, 2023
- Real Estate Market RisksAnalyzing the potential risks in the real estate market due to rising interest rates.“You're either going to top that off by coming out of pocket or go to mezzanine funds.”1:03:31Aug 18, 2023
