Why Apple's Stock Just Tanked & Workers Are Unhappier Than Ever
Sep 8, 2023
27:03
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Topics include Apple's stock decline in response to an iPhone ban in China, declining worker happiness, Elon Musk's alleged involvement in turning off Starlink during the Ukrainian War, stock and dog of the week, Drake's AI ghost writer, and the most photographed restaurants on Yelp.
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Quick takeaways
Huawei's release of a 5G chip in their smartphones challenges Apple's dominance in China and poses a significant threat to Apple's sales in the country.
Employee sentiment in the US has significantly dropped since 2020, with the tech industry experiencing the fastest decline in happiness, mainly due to factors like low pay and return-to-office mandates.
Deep dives
Apple Faces Challenges in China Amid Huawei's Emergence
Chinese smartphone maker Huawei has surprised the world by releasing a smartphone equipped with a 5G chip, challenging Apple's dominance in China. Apple is now facing a ban on the use of iPhones in government departments and state companies. This poses a significant threat to Apple's sales and manufacturing operations in China, causing a loss of $200 billion in market cap.
The Great Gloom of 2023: Unhappiness Among American Workers
Recent reports show that American workers are feeling increasingly unhappy, with employee sentiment dropping significantly since 2020. Factors such as low pay, layoffs, return-to-office mandates, and the lack of work-life balance contribute to what is being called 'The Great Gloom of 2023.' The tech industry is experiencing the fastest decline in employee happiness, with many employees considering leaving their jobs if forced to return to the office full-time.
Ghostwriter and the AI Era of Music
The AI-generated Ghostwriter song, mimicking the voices of popular artists Travis Scott and 21 Savage, showcases the growing influence of AI in music creation. With the potential to change the future of music production, Ghostwriter offers artists the opportunity to leverage their voices effortlessly, raising questions about the ownership and IP rights of AI-generated songs. This development reflects the broader shift towards embracing AI in various creative disciplines.
Episode 143: Neal and Toby discuss the reported iPhone ban in China and how it it has plummeted Apple's stock over the last week. Plus, why workers are unhappier than ever and Elon Musk reportedly ordered Starlink to be turned off during the Ukrainian War. The guys also share their stock and dog of the week and how Drake's AI ghost writer is chasing a grammy. Finally, what are the most photographed restaurants on yelp.