Your Wages Are Catching Up to Inflation & Why Tesla Could Sue Cyber Truck Owners
Dec 13, 2023
25:34
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In this podcast, the hosts discuss the impact of gas prices and wage growth on inflation. They also delve into Netflix's release of viewership statistics and delve into Tesla's buyback program. Additionally, they explore a potential hostile takeover in the hotel industry, and the changing dynamics of office holiday parties.
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Quick takeaways
Gas prices and wage growth have impacted the latest inflation report.
Netflix shares viewership data for its shows, putting pressure on other streaming services to do the same.
Tesla restricts Cybertruck owners from reselling under the threat of a lawsuit.
Choice Hotels attempts a hostile takeover of Wyndham Hotels to compete with industry giants.
Deep dives
COP 28 Agreement Calls for Transition away from Fossil Fuels
Nearly 200 countries reached a historic agreement at COP 28 in Dubai that calls for a transition away from fossil fuels, marking the first time a global climate agreement explicitly calls for limiting their use. While it is a compromise and not everyone is satisfied, this agreement represents a significant step towards addressing the impact of fossil fuels on greenhouse gas emissions.
Inflation Data: Decrease in Energy Prices, Unexpected Wage Growth, and Sticky Housing Prices
The latest inflation data shows a decrease in energy prices, with gas prices falling 6% since September. Wage growth has also been unexpectedly positive, rising at a 4% annual rate and outpacing inflation. However, housing prices remain a significant concern, accounting for nearly 70% of the total increase in core CPI over the past year. While housing inflation declined slightly, it still remains elevated at 6.5% compared to a year earlier.
Netflix Reveals Viewership Numbers with Dominance of Originals
After years of secrecy, Netflix has revealed viewership stats for its shows, indicating that nine out of the top 10 TV series and six of the most watched programs are Netflix Originals. The most viewed program through June was 'The Night Agent.' This disclosure marks a win for writers, actors, and producers who have pushed for more transparency from the streaming giant. Netflix's decision may also pressure other streaming services to release their viewership numbers.
Tesla Cybertruck Reselling Restricted in New Clause
A new clause in Tesla's terms and conditions restricts owners from reselling their Cybertrucks under the threat of a lawsuit. While the clause has appeared and disappeared before, it seems to be back and may be a defensive move by Tesla to prevent resellers from driving up prices significantly. Other luxury car makers have employed similar restrictions, often resulting in legal battles and settlements.
Choice Hotels Makes Hostile Takeover Attempt of Wyndham Hotels
Choice Hotels is making a hostile takeover attempt of rival Wyndham Hotels by taking its $8 billion offer directly to shareholders. With the goal of competing with hospitality giants Marriott and Hilton, Choice aims to combine its Comfort Inn brand with Wyndham's days in and La Quinta brands. Wyndham's leadership has repeatedly rejected the offer, prompting Choice to go straight to shareholders in an effort to win their support.
Adam Neumann's New Venture 'Flow' Aims for Well-Managed Apartments
Adam Neumann, founder of WeWork, has launched a new venture called 'Flow' that aims to provide well-managed apartments. Flow seeks to create a sense of community among tenants, treat them well, and charge a premium for the enhanced living experience. The company has invested time and resources into creating a comprehensive app for residents, providing convenient access to various services and offering the potential for data monetization.
Holiday Parties Taking a More Chill Approach
Many employers are taking a more relaxed approach to holiday parties this year, opting for office potlucks and holding the events during work hours. A survey by LinkedIn found that 55% of workers were not planning to attend their company's holiday party. This shift may be attributed to budget cuts, layoffs, and a general lack of enthusiasm for traditional office holiday parties. Companies are adapting by focusing on lower-key activities and creating a more inclusive and casual atmosphere.
Episode 212: Neal and Toby discuss how gas prices and wage rates have impacted the latest inflation report. Plus, Netflix posts viewer data from every show for the first time ever and Tesla says they have the right to sue anyone who attempts to re-sell a Cyber Truck. Next the guys get into Choice Hotels' hostile takeover of Wyndham, and what is the latest with Adam Neumann's latest 'utopian' apartment project. And finally, who is going to their company Holiday party?
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