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The Prof G Pod with Scott Galloway
Prof G Markets: OpenAI’s $90 Billion Valuation, FTC Takes on Amazon, and The Recession is Coming
Oct 2, 2023
In this discussion, Ed Elson, a savvy media analyst, joins to dissect OpenAI's jaw-dropping $90 billion valuation and Amazon's substantial investment in Anthropic. Together, they delve into the FTC's antitrust case against Amazon, exploring its impact on market competition. The conversation takes a turn as they paint a somber picture of an impending recession, highlighting the struggles of the lower economic brackets amidst rising interest rates and dwindling pandemic savings. It's an engaging blend of market insights and economic forecasts.
36:28
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Quick takeaways
- The bottom 80% of Americans have depleted their pandemic savings, leading to decreased personal savings across income groups.
- OpenAI is considering a new share sale at a valuation between $80 and $90 billion, highlighting continued interest in AI technology.
Deep dives
US economy faces concerns as pandemic savings dwindle
A recent Federal Reserve study shows that the bottom 80% of Americans by wealth have depleted their pandemic savings and now have less cash on hand than before the pandemic. Personal savings have declined across all income groups, with the bottom two-fifths of earners experiencing an 8% decrease compared to an 8% increase among the top 20%. These declining savings come at a time of rising interest rates, which have increased the cost of borrowing in the US.
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