The Rundown

Explore the latest stock market trends and risks of a government shutdown. Discover OpenAI’s exciting partnership with Shopify for Instant Checkout, streamlining purchases through ChatGPT. Unpack YouTube’s hefty settlement with Trump and the implications for tech companies. Dive into CoreWeave’s major deals in AI infrastructure and the fallout from Spotify's leadership shake-up as Daniel Ek transitions to executive chairman. Plus, learn about the quirky trend of dirty sodas, sparked by new flavors from Pepsi!

The stock market sees intriguing shifts as inflation and consumer spending come into play. A looming government shutdown may delay crucial jobs reports, raising questions about economic stability. Gold prices are surging to record highs, driven by strong ETF inflows and central bank purchases. In tech news, Electronic Arts is set to go private for a staggering $55 billion amidst industry consolidation. Plus, insights on Kellogg's acquisition by Ferrero and concerns over Novo Nordisk's prescription slowdown add to the market's drama.

Morgan Housel, bestselling author known for The Psychology of Money, dives into the intricate psychology of spending in this discussion. He addresses Gen Z's financial challenges and what he calls the rise of financial nihilism. Housel emphasizes that tiny spending adjustments can lead to greater happiness, contrasting with the societal pressure amplified by social media. He exposes America's housing crisis as a major social issue influencing homelessness and delayed life decisions, urging parents to lead by example in teaching money habits.

Exploring Nvidia's multifaceted role in the AI economy reveals intriguing dynamics. The company is not just selling chips but investing heavily in AI firms like CoreWeave and OpenAI. This 'circular financing' raises questions about its sustainability and potential risks of a data center collapse. Historical parallels to previous infrastructure bubbles surface, hinting at possible excessive capital expenditure. Amidst admiration for Nvidia's strategy, concerns about an impending bubble loom large if AI demand falters. A gripping analysis of innovation versus risk!

The podcast dives into President Trump's unexpected tariffs on pharmaceuticals and furniture, stirring market reactions. Insights into August's PCE inflation report hint at a potential Fed rate cut. Amazon's hefty $2.5 billion FTC settlement is unpacked, revealing details on Prime enrollment issues. Meanwhile, Meta is exploring using Google's Gemini for ad optimization. Plus, the NFL opens doors for private equity investments, with teams like the Patriots seeing soaring valuations.

The latest discussion dives into Intel's pursuit of investment from Apple, exploring the intriguing dynamics between the two tech giants. They also dissect the possible impact of this partnership on chip security and Apple's manufacturing strategies. Switching gears, Starbucks reveals significant corporate layoffs and store closures, alongside a major restructuring plan that aims to revitalize customer experience. Additionally, Instagram's impressive milestone of 3 billion monthly users highlights its staggering growth since inception.

In a market update, Jerome Powell's comments sparked concerns over high stock valuations. Palantir's exciting partnership with Boeing aims to integrate AI into defense programs. Micron is making waves with its surge in revenue and ambitious DRAM investments. Alibaba's new AI model propelled its stock, especially after its partnership with Nvidia. Plus, the US government's interest in Lithium Americas signals potential support for a key project. Lastly, Michelob Ultra has claimed the title of America’s top-selling beer, outpacing Modelo.

The stock market hits record highs, fueled by Apple's surge. A major highlight is NVIDIA's ambitious $100 billion investment in OpenAI, reshaping the landscape for AI infrastructure. Disney makes waves by bringing back Jimmy Kimmel amid regulatory tensions. Plus, insights into AI data centers and the evolving resale value of Tesla's original Roadster. It's a dynamic mix of tech, entertainment, and finance!

The podcast kicks off with key stock market highlights, including record highs and a surprising crypto sell-off. It dives into the contentious new H-1B fee and its implications for tech companies and US-India relations. There's buzz around Pfizer's major acquisition aimed at weight-loss treatments and Snap's hype surrounding meme stocks and AR glasses. Healthcare news takes a turn with discussions on Kenview and Tylenol, while Apple’s AI challenges and strong iPhone 17 sales round out the tech talk.

In this engaging discussion, economist Kyla Scanlon, a New York Times bestselling author, explores the concept of three simultaneous economies: speculative, real, and meme. She delves into the fragility of the AI market due to massive data center investments and raises concerns about a potential bubble. Kyla also highlights the alarming record youth unemployment among Gen Z, driven by automation and a shift in financial priorities. Additionally, she critiques the Fed's outdated focus on 2% inflation amidst today's economic turbulence.