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
Ed Elson, a market expert, joins the conversation to dissect the surprising 4.9% GDP growth in the U.S. amid rising interest rates. They delve into Meta's strong earnings, with a 23% profit increase, and the shifting landscape of tech giants like Snap and Microsoft. The discussion turns to Elon Musk's $13 billion Twitter debt, exploring investment strategies around its acquisition. They also tackle the staggering $1.7 trillion U.S. deficit, suggesting innovative solutions like tax reforms and spending cuts for fiscal sustainability.
43:15
Episode guests
AI Summary
Highlights
AI Chapters
Episode notes
Podcast summary created with Snipd AI
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.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
