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The Prof G Pod with Scott Galloway
Prof G Markets: Meta’s Monster Quarter, Buying Elon’s Twitter Debt, and America’s Deficit
Oct 30, 2023
Scott breaks down Meta's earnings and buying Elon's Twitter debt. Ed discusses potential solutions to the U.S. deficit: cutting spending, increasing taxes, and tackling entitlements.
43:15
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Quick takeaways
- Snap and Meta both reported strong earnings due to investments in artificial intelligence.
- Addressing the US deficit will require increased tax revenues, decreased spending, and potential implementation of a global wealth tax.
Deep dives
Earnings Reports: Snap and Meta
Snap's third quarter earnings beat estimates with a 5% revenue growth and a 12% increase in daily active users. Meanwhile, Meta reported third quarter revenue of $34 billion, a 23% year-on-year growth, and a doubling of profits. The strong performances of both companies are attributed to investments in artificial intelligence, with Meta using AI to enhance ad recommendations and Snap leveraging AI to increase engagement on its platform.
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