The Prof G Pod with Scott Galloway Prof G Markets: Tesla’s Terrible Earnings, the FTC’s Noncompete Ban, and 24/7 Trading at the NYSE
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Apr 29, 2024 In this discussion, Ed Elson, a Prof G media analyst, dives into the surprising rise of Tesla's stock despite disappointing earnings. They explore how the FTC's ban on noncompete agreements could empower workers and promote job mobility. The conversation also tackles the pros and cons of 24/7 trading at the NYSE, considering its effects on market dynamics and investor behavior. With a blend of humor and sharp insights, they navigate the evolving landscape of finance and its implications for the future.
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Tesla's Stock Surge
- Tesla's stock rose despite poor earnings, possibly due to perceived undervaluation and Musk's AI focus.
- The company's core auto business faces increasing challenges.
Non-Compete Agreements
- Non-compete agreements primarily transfer wealth from younger employees to older shareholders.
- They reduce the number of potential employers bidding for an employee's labor.
Non-Compete Bans and Wages
- Oregon and Hawaii saw wage increases after banning non-competes for certain workers.
- California's long-standing ban on non-competes is believed to have contributed to Silicon Valley's success.
