The Prof G Pod with Scott Galloway 2024 Predictions
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Jan 4, 2024 Scott reflects on his predictions for 2023, revealing where he hit the mark and where he missed. He delves into the legal challenges facing tech giants and shifts in public sentiment toward brands. The discussion includes geopolitical miscalculations, especially regarding Asia and the Middle East. With rising housing costs, younger generations favor experiences over homeownership. Finally, he examines the influence of U.S. swing states on elections and the economic ties between the U.S., India, and China as we head into 2024.
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Streaming Consolidation
- Streaming is consolidating due to unsustainable overinvestment in a growing market.
- This leads to cost-cutting and mergers, exemplified by potential Paramount/Apple and Netflix/HBO partnerships.
Patagonia Vest Recession
- The 2023 recession primarily affected the growth economy, not the broader market as predicted by economists.
- Layoffs occurred, but must be viewed in context of pandemic-era over-hiring.
Housing Market Dynamics
- Low interest rate mortgages create housing market illiquidity, preventing movement despite rising rates.
- This pent-up demand, combined with life events, will accelerate home sales in 2024.