Congress in Chaos, The Ozempic Effect, and the Healthcare Strike
Oct 6, 2023
01:04:38
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Declining social media traffic to news sites, Amazon algorithm testing prices, boom in weight loss drugs, Kevin McCarthy's ousting, largest healthcare strike, weight loss drugs impact on industries, debt release for student borrowers, predictions for market shifts, anticipation for upcoming interview
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Quick takeaways
Elite universities should not all be painted with the same brush, as some like the University of California are actively working towards inclusivity and expanding access to education.
Scott's philanthropic contributions to his alma maters, UCLA and Berkeley, align with the universities' missions of inclusivity and offering certification programs to empower students with valuable skills.
Weight loss drugs like Ozempic and WEGOVI have the potential to impact industries such as the industrial food complex, snack food industry, healthcare costs, and market capitalization.
Deep dives
Exclusivity and Elite Universities
Scott acknowledges that some elite universities have become increasingly exclusive, which he sees as problematic. However, he points out that not all universities should be painted with the same brush and that there are differences among them. He agrees that Harvard's exclusivity is a concern, given its vast endowment and limited admissions. Scott believes that some universities, like the University of California, are fighting against this trend by expanding access to education and creating more on-ramps to the middle class for students who may not pursue traditional four-year degrees. He donated to his alma maters, UCLA and Berkeley, as he sees them actively working towards inclusivity and offering certification programs to help lift up young men and women with valuable skills.
Conflicting Feelings as a University Fundraiser
The listener, who works as a major gift fundraiser at an elite university, expresses conflicted feelings about working in an industry that perpetuates exclusivity. She mentions that she secretly agrees with Scott's criticism of elite universities. She asks whether his philanthropic contributions to his alma maters further the universities' missions of exclusivity. Scott responds by distinguishing between different types of universities. He explains his support for UCLA and Berkeley, given their efforts to provide greater access to education for students. He also highlights the importance of recognizing the differences among universities and not generalizing them all as exclusive institutions.
The Importance of Balancing Exclusivity and Access
Scott emphasizes that the exclusivity of elite universities has negative consequences, causing disappointment and perpetuating social inequality. He believes that universities should prioritize offering opportunities for upward mobility and providing paths to success for individuals who may not pursue traditional four-year degrees. He applauds the University of California's commitment to expand access and develop certification programs in areas like nursing and specialty construction. Scott envisions a future where universities prioritize inclusivity by admitting students based on their willingness to learn and work hard, rather than solely relying on traditional admissions criteria.
Impact of Weight Loss Drugs on the Market
The podcast discusses the potential impact of weight loss drugs, such as Ozempic and WEGOVI, on various industries and the economy. With millions of prescriptions written for these drugs, Americans are spending less on food, leading to potential challenges for the industrial food complex and snack food industry. Additionally, the effects of weight loss drugs on healthcare costs, knee and hip replacements, and mental health are explored, suggesting a potential reshuffling of market capitalization.
Changes in Social Media's Relationship with News
The podcast touches on the shift in social media platforms' approach to news, with Meta and Twitter reducing their efforts in elevating quality news information. This change may lead to reduced exposure to fact-checked and reliable news sources, potentially impacting the spread of accurate information. The motivations behind these changes, such as keeping users on the platforms and avoiding negative influences, are discussed, highlighting the importance of trustworthy news organizations in today's media landscape.
Kara and Scott discuss declining social media traffic to news sites, Amazon using an algorithm to test how high they could boost prices, and why the boom in weight loss drugs is the “biggest business story of the year.” Also, Kevin McCarthy’s historic ouster marks another prediction come true in Pivot Land. And the largest health care strike in U.S. history is underway. Then, a listener question on the ethicality of donating to elite universities.
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