Brian Stockton, Senior Director of Technical Services at Audi, discusses Audi's training program for EV technicians. Steven Skancke provides insights on the Federal Reserve's upcoming decision. Bloomberg Businessweek editors share details of a story on layoffs and AI changing the job market. Jeff Krumpelman gives his investment strategy. Topics include Audi's AEP program, economic projections, tech job market, Federal Reserve meeting, and AI in cybersecurity.
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Quick takeaways
The Audi Education Partnership program aims to transform the technician workforce to handle the complexity of electric vehicles and traditional internal combustion engines by providing expert level certification for technicians.
Layoffs and changing demands for skills are impacting the tech job market, with even senior engineers facing uncertainty, but there are still opportunities for software engineers in specific industry sectors.
Deep dives
The Importance of Technical Training for EVs
The podcast episode discusses the significance of technical training for electric vehicles (EVs). The guest, Brian Stockton, Senior Director of Technical Services and Training for Audi, highlights the Audi Educational Partnership (AEP) program, which aims to transform the technician workforce to handle EVs and traditional internal combustion engines. Stockton explains that while EVs have fewer mechanical components, their complexity lies in the logic and computer control systems, necessitating higher levels of expertise. The AEP program provides expert level certification for technicians, addressing customer issues for both EVs and traditional engines.
Job Market Uncertainty in the Tech Industry
The podcast episode explores the current state of the job market in the tech industry. Layoffs and changing demands for skills, including coding, are impacting the once invincible job market in Silicon Valley. The episode highlights stories of individuals who have been laid off, including senior engineers with years of experience. Additionally, recent graduates who were once guaranteed high-paying jobs are experiencing uncertainty. The episode delves into the reasons behind the layoffs, including overhiring during the pandemic and the focus on AI technologies. However, it also highlights that many industry sectors are still looking to hire software engineers, albeit with a more focused approach.
Fed Meeting's Impact on the Market
The podcast episode discusses the potential impact of the upcoming Fed meeting on the market. There is speculation about whether the Fed will pause or skip rate hikes. While some believe a pause is necessary due to calming inflation and previous efforts to combat it, others argue that the Fed wants to stay ahead of inflation and avoid being behind the curve. The guest, Jeff Crumpleman, Chief Investment Strategist at Mariner Wealth Advisors, suggests that a pause is ideal, supported by evidence of inflation calming and solid economic conditions. He believes the market can sustain its rally, despite potential short-term volatility.
Investment Strategies and Industry Focus
The podcast episode explores investment strategies and industry focus in the current market. The guest suggests a blended approach between growth and value stocks to take advantage of opportunities in both sectors. While growth stocks rebounded after a tough year in 2020, there is also potential in cyclical stocks, given the current capital spending boom and onshoring of manufacturing plants. Examples of industry sectors mentioned include cybersecurity, construction, and mining. The guest emphasizes the importance of owning stocks with catalysts and acknowledges the benefits of AI but notes that it benefits a narrower set of stocks.
Brian Stockton, Senior Director of Technical Services and Training at Audi, discusses the need for trained EV technicians and the automaker's Audi Education Partnership. Steven Skancke, Chief Economic Advisor at Keel Point, provides a preview of Wednesday's Fed decision. Bloomberg Businessweek Editor Joel Weber and Bloomberg News Startups Reporter Ellen Huet share the details of Ellen's Businessweek Magazine story Layoffs and AI Are Changing Tech’s Once Invincible Job Market. And we Drive to the Close with Jeff Krumpelman, Chief Investment Strategist at Mariner Wealth Advisors. Hosts: Matt Miller and Madison Mills. Producer: Paul Brennan.