Prof G Markets Takeaways from the Second Debate + Does the US Need a Sovereign Wealth Fund?
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Sep 16, 2024 Scott and Ed dive into the latest inflation data and Oracle's earnings, along with a quirky take on Wall Street's new hours for young bankers. The second presidential debate gets dissected, revealing key performance insights, particularly from Kamala Harris. Ed shares stock predictions influenced by the race, while the duo debates the necessity of a sovereign wealth fund for the U.S., raising eyebrows about government efficiency. Plus, OpenAI's advanced reasoning model is explored, alongside its impact on AI technology and finance.
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Current US Economy
- The US economy is currently strong, with low inflation and rising household incomes.
- However, this prosperity isn't evenly distributed, with 50% of households earning under $75,000 yearly.
Minimum Wage Solution
- Raise the minimum wage to $25 per hour to improve various social and health outcomes.
- This offers a simple, effective solution compared to complex, often inefficient government programs.
Oracle's AI Advantage
- Oracle's success is driven by its unique position as the only major cloud provider not developing its own LLM.
- This makes it an attractive partner for AI startups competing with Microsoft and Google.