E98: Big tech starts making cuts, Fed incompetency, global debt, Russia/Ukraine & more
- Sep 30, 2022
- 1:19:38
- Full Episode
0:00 Bestie intros! 1:36 Big tech starts making cuts and what this means for the broader economy and startups 31:09 Global debt numbers, Fed incompetency 54:06 RIP Coolio 1:00:30 Russia / Ukraine update
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Referenced in the show: https://www.bloomberg.com/news/articles/2022-09-29/meta-announces-hiring-freeze-warns-employees-of-restructuring https://www.google.com/finance/quote/META:NASDAQ https://www.google.com/finance/quote/AAPL:NASDAQ https://www.google.com/finance/quote/GOOG:NASDAQ https://www.cnbc.com/2022/09/28/stanley-druckenmiller-sees-hard-landing-in-2023-with-a-possible-deeper-recession-than-many-expect.html https://www.google.com/finance/quote/NFLX:NASDAQ https://www.mckinsey.com/capabilities/mckinsey-digital/our-insights/if-youre-going-to-build-something-from-scratch-this-might-be-as-good-a-time-as-in-a-decade https://www.forbes.com/sites/jonathanponciano/2021/05/11/billionaire-investor-druckenmiller-blasts-feds-radical-stimulus-policy-warns-it-risks-stock-bubble-blowing-up https://www.cnbc.com/2022/09/28/cnbc-transcript-duquesne-family-office-chairman-ceo-stanley-druckenmiller-speaks-with-cnbcs-joe-kernen-live-during-the-cnbc-delivering-alpha-conference-today.html https://www.xe.com/currencycharts/?from=GBP&to=USD&view=1M https://www.bls.gov/charts/job-openings-and-labor-turnover/unemp-per-job-opening.htm https://fred.stlouisfed.org/series/JTSJOL https://www.wsj.com/articles/a-nation-of-quitters-great-enabling-exodus-working-age-men-parents-stimulus-covid-quit-retirement-bohemian-videogame-11664112795 https://goop.com/subscribe https://www.reuters.com/world/putin-host-kremlin-ceremony-annexing-parts-ukraine-2022-09-29 https://www.reuters.com/world/europe/zelenskiy-says-ukraine-applying-nato-membership-2022-09-30 https://www.reuters.com/world/europe/qa-nord-stream-gas-sabotage-whos-being-blamed-why-2022-09-30 https://www.aa.com.tr/en/economy/former-polish-foreign-minister-thanks-us-for-damaging-nord-stream-pipeline/2696530 https://www.theamericanconservative.com/should-america-go-all-in-on-ukraine
Brief Summary
The episode covers layoffs in big tech, recession implications, and startup opportunities amid economic changes.
Key points
- End of an Era for Big Tech. Meta and Apple announce layoffs, signaling a shift in the tech industry.
- Opportunity for Startups. The downturn may consolidate talent, creating a favorable environment for startups.
- The Roomba Dilemma. Discussion about the triviality of focusing on Roomba while bigger issues loom.
- Opportunities in Downturns. Exploring how economic downturns can lead to innovation and new companies.
- Severe Demand Destruction. Predictions about how economic pressures will impact consumer spending.
- The Fed's Incompetence. Discussion on the Fed's handling of interest rates and inflation data.
Episode highlights
- End of an Era for Big TechMeta and Apple announce layoffs, signaling a shift in the tech industry.“It's the end of an era of rapid growth.”2:56Sep 30, 2022
- Opportunity for StartupsThe downturn may consolidate talent, creating a favorable environment for startups.“This is incredible setup for 2023 for startups to consolidate Talent.”11:34Sep 30, 2022
- The Roomba DilemmaDiscussion about the triviality of focusing on Roomba while bigger issues loom.“We're worried about the Roomba when the administration is sleepwalking into the next World War.”20:54Sep 30, 2022
- Opportunities in DownturnsExploring how economic downturns can lead to innovation and new companies.“Great companies are built during downturns.”21:41Sep 30, 2022
- Severe Demand DestructionPredictions about how economic pressures will impact consumer spending.“Demand destruction is going to be quite severe.”36:14Sep 30, 2022
- The Fed's IncompetenceDiscussion on the Fed's handling of interest rates and inflation data.“These people are not competent, are they?”38:58Sep 30, 2022
- The Impact of Zero Interest Rate PolicyAnalysis of the unintended consequences of ZIRP on the economy and job market.“These are the unintended consequences of ZIRP.”51:01Sep 30, 2022
- Wealth Transfer Between GenerationsExploration of the wealth held by Boomers and its implications for Millennials.“U.S. Boomers have 71 trillion dollars in assets.”51:39Sep 30, 2022
