The Higher Standard Airbnb, Beige Book, Roku, WeWork & A Bromance
In their second show without Haroon, who continues to be out on PTO in “The Sac,” Chris and Saied decide to crack a few of their own cans during the show in order to pay homage. Shortly after lamenting the value of Haroon’s contributions they jump in to New York City’s crackdown on Airbnb and what this could mean if other cities follow suit. They examine the Fed’s Beige Book data, what it tells us about the Fed’s perspective going into the September Fed meeting and give their predictions on whether or not there will be another 25 bps rate increase to Fed Funds. They then pivot to Roku’s stock jumping after laying off 10% of their workforce while WeWork is reportedly renegotiating all of its leases. The round out the show by reading on the National Association of Realtors new class action lawsuit, but stop short of a full analysis because they are going to need more time to review the legal filings. It is an episode chalked full of laughs and facts, so make sure to wear your manpon.
Resources:
New York City's crackdown on Airbnb and short-term rental goes into effect (Guardian)
Fed's Beige Book Shows Slower Activity Growth and Hiring in Peak Summer (Bloomberg)
Roku stock jumps after company says it will lay off 10% of workforce (CNBC)
WeWork CEO says company is ‘here to stay’ as it renegotiates ‘nearly all our leases’ (CNBC)
Monumental NAR lawsuit snags class action status (The Real Deal)
Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content.