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Sam Bankman-Fried and Elon Musk discuss explosive US economy, Elon's first year at 'X' (formerly Twitter), self-care for business leaders, Southwest Airlines' earnings, the decline in travel boom, and the persistence of the 'zoom wave' in virtual meetings.
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Quick takeaways
- The US economy experienced explosive growth in the third quarter, driven by strong consumer spending and business inventories, indicating a return to pre-COVID growth levels.
- Elon Musk's first year as owner of Twitter saw significant changes to the platform, although some metrics declined, Musk's personal profile and posts gained increased traffic, demonstrating Twitter's resilience and adaptability.
Deep dives
US economy grows at 4.9% annualized rate in Q3
The US economy grew at a massive 4.9% annualized rate in the third quarter, surpassing expectations and marking the biggest quarterly gain since the pandemic recession in late 2021. Consumer spending was a key driver of this growth, as Americans spent on concert tickets, vacations, merchandise, and other goods and experiences. Business inventories and government spending also contributed to the strong GDP number. This shows that spiking interest rates have not deterred American consumers, and the long-term trend indicates a return to pre-COVID growth levels.
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