One Year of ChatGPT & Why Most Billionaires Are Now... Nepo Babies
Dec 1, 2023
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Neal discusses the stock market and the one-year anniversary of ChatGPT, while Kyle talks about why most billionaires are now nepo babies. They also delve into the performance of the stock market in November, the rise of obscure cryptocurrencies, concerns about the COP 28 climate summit, and the attendance and funding of the conference on climate change.
The COP28 Climate Summit faces challenges in reaching meaningful agreements due to competing interests and potential conflicts of interest.
Red Lobster's decision to raise the price of their endless shrimp deal resulted in a significant operating loss, highlighting the challenge of finding the right pricing strategy for consumer promotions.
Deep dives
COP 28 Climate Summit Faces Challenges with High Attendance
The COP 28 Climate Summit, with nearly 70,000 attendees, raises concerns about the ability to reach a meaningful agreement due to competing interests and potential money-focused agendas. The summit aims to assess progress towards the goals of the Paris Accords and establish a fund for rich countries to compensate poorer ones for the economic impacts of climate change. While the event started off positively with agreements reached, the sheer number of attendees and potential conflicts of interest may hinder effective decision-making and collaboration.
Red Lobster Faces Losses with Price Increase on Endless Shrimp Deal
Red Lobster's decision to raise the price of its popular endless shrimp deal from $20 to $25 has resulted in an operating loss of $11 million, highlighting the challenge of finding the right pricing strategy for consumer promotions. By making the deal available all day instead of just on Mondays, customer demand increased significantly but exceeded Red Lobster's expectations. This pricing blunder echoes a similar mistake the company made in 2003 with endless crab, which nearly led them to bankruptcy. Red Lobster now faces the task of finding a balance between customer satisfaction and profitability.
Forbes 30 Under 30 List Sparks Controversy and Memes
Forbes' annual 30 Under 30 list, meant to recognize individuals under 30 who are making significant achievements in their respective fields, has faced criticism and become a subject of online memes. The list has gained a reputation for including individuals who later face legal trouble or negative public perception. In response, Forbes has embraced the humor by creating a 'Hall of Shame' featuring some notorious past recipients. While the list continues to provide valuable recognition, its increased size and controversial track record have cast a shadow over its reputation.
Episode 204: Neal and Kyle discuss why the stock market is hotter than ever. Plus, it's the one-year anniversary of ChatGPT and why we are in the era of nepo baby billionaires. Also, a recap of the Cop28 Climate Summit and how much money did Red Lobster lose on their endless shrimp deal? And finally, Forbes shares their Hall of Shame 30 Under 30 list.