Martin Short, Canadian actor and comedian, discusses money, tattoos, and his career. Topics also include the OpenAI CEO saga, Ontario's alcohol laws, and re-appreciating old work.
Homeownership in Canada is increasingly centered around those whose parents own a home, highlighting the growing income disparity and challenge faced by those without parental support.
The OpenAI debacle reveals the challenges of managing the development and risks of AGI, as well as major stakeholders' influence in the field like Microsoft.
Deep dives
Growing Income Disparity in Housing Market
New data reveals that home ownership in Canada is increasingly centered around those whose parents own a home, highlighting the growing income disparity between homeowners and those who are shut out of the housing market due to lack of financial support. Homeownership has become a significant wealth generator, with parents either passing down their homes or providing substantial down payments. In the Greater Toronto Area, over 80% of first-time homebuyers rely on financial assistance from their parents, emphasizing the challenge faced by those without parental support.
OpenAI's Drama and Microsoft's Stake
OpenAI, the creator of ChatGPT, recently underwent a dramatic series of events involving the ousting and subsequent rehiring of its CEO, Sam Altman. The move was prompted by concerns within the company about the safety of their AI project, QStar, which is a step towards artificial general intelligence (AGI). Microsoft, which holds a 49% stake in OpenAI and invested 13 billion USD, capitalized on the situation by hiring Altman to lead an AI initiative. The incident highlights the challenges of managing the development and potential risks of AGI, as well as the influence of major stakeholders like Microsoft in the field.
Ontario's Alcohol Regulations and the Beer Store
Ontario's unique alcohol laws, stemming from the post-prohibition era, strictly control the sale of alcohol through licensed government stores like the Liquor Control Board of Ontario (LCBO) and the Beer Store. However, potential changes may allow for beer sales in grocery stores and convenience stores, resulting in a potential hit to the Beer Store's monopoly. These restrictions, while implemented to regulate alcohol consumption, create logistical challenges and frustrations for consumers. The potential shift in regulations reflects the ongoing tension between government control, consumer convenience, and the alcohol industry's economic landscape in Ontario.
This week on TLDR: Martin Short on money, his career, and how he feels about tattoos. Plus: the OpenAI debacle, bad news for The Beer Store, and the not-so-secret secret to buying a home (hint: it rhymes with schmarents).
This episode was hosted by Devin Friedman, TLDR managing editor Kat Angus, business reporter Sarah Rieger, and finance educator Kyla Scanlon. Follow us on other platforms, or subscribe to our weekly newsletter: linkin.bio/tldr
The TLDR Podcast is offered by Wealthsimple Media Inc. and is for informational purposes only. The content in the TLDR Podcast is not investment advice, a recommendation to buy or sell assets or securities, and does not represent the views of Wealthsimple Financial Corp or any of its other subsidiaries or affiliates. Wealthsimple Media Inc. does not endorse any third-party views referenced in this content. More information at wealthsimple.com/tldr.
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