Prof G Markets Why is Silicon Valley Backing Trump? + A Glasses Company Acquires Supreme
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Jul 22, 2024 Silicon Valley's surprising support for Trump raises eyebrows as tech elites flaunt their wealth in political donations. One host humorously notes, "I don't recognize America anymore!" The discussion shifts to luxury when EssilorLuxottica’s bold acquisition of Supreme for $1.5 billion is analyzed, highlighting the merger of optics and streetwear. Humor and economic insights blend as they delve into the implications of such a move and the surprising dynamics of corporate power and influence in today's market.
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Rent Control Ineffectiveness
- Rent control decreases housing stock and increases prices, benefiting mostly wealthy individuals.
- It prioritizes economically secure tenants over those needing assistance.
Music Industry Economics
- The traditional creative community has experienced worsening economics, with a few artists dominating sales.
- Online music hasn't created the expected long tail, but rather a globalization benefiting a select few.
AI Power Consolidation
- AI power is consolidating from startups to established tech companies.
- The Inflection-Microsoft deal exemplifies this trend, likely representing a larger, hidden consolidation.