Prof G Markets

Justin Wolfers, a Professor of Public Policy and Economics at the University of Michigan, dives into the economic currents shaping our future. He examines AI's complex relationship with employment, stressing that quick AI adoption could lead to job losses, while slow integration might offer workers new skills. Wolfers critiques U.S. tariffs as subtle inflation drivers with long-term costs. He also forecasts a need for coherent AI policy and considers how governance models like those in Canada and Australia could inspire better practices, fostering optimism amid uncertainty.

Rohan Goswami, a business reporter at Semafor, dives into Warner Bros. Discovery's decision to reject Paramount's bid, explaining the appeal of Netflix's offer. He highlights financing risks and the complex dynamics affecting investor confidence. Joining him is Alice Han, a China economist at Greenmantle, who discusses China's record trade surplus and questions surrounding weak fixed investments. She also analyzes geopolitical relationships and anticipates continued reliance on export-led growth for China in 2026.

Kathryn Anne Edwards, a labor economist and host of the Optimist Economy podcast, discusses rising unemployment rates and the challenges in the labor market. She highlights the impact of economic uncertainty and sector variations on hiring trends. Joining her is Jon McNeill, CEO of DVX Ventures and former Tesla executive, who shares insights on the EV industry, including Ford's recent setbacks and Tesla's robo-taxi ambitions. They explore global EV demand and the competitive landscape between U.S. and China, and Ed reveals TikTok Shop's potential to disrupt traditional retail.

Gil Luria, a tech analyst at DA Davidson, dives into Oracle's alarming stock decline and discusses how OpenAI's massive commitments have pressured the company into risky moves. He highlights execution failures and rising debts as key issues affecting investor trust. Then, Helen Toner from Georgetown shares insights on Trump's AI executive order and the tension between state and federal regulations. She emphasizes the need for tech firms to address public skepticism about AI, revealing the political risks involved.

Scott and Ed dive into investment strategies for 2026, weighing various perspectives on AI and market fragility. They discuss the ongoing battle between Paramount and Netflix for Warner Bros. Discovery, highlighting risks and implications. The duo also explores the potential for an AI bubble and the challenges of concentrated ownership. Scott shares personal portfolio moves and emphasizes the importance of diversification, while Ed advocates for de-risking strategies. Insights into investing in skills and health round out their recommendations.

Tom Lee, a veteran equity strategist and co-founder of Fundstrat Global Advisors, boldly shares his optimistic outlook for 2026, citing market recovery potential. He discusses the crucial role of AI and big tech in driving earnings growth despite current market skepticism. Lee highlights small caps and financials as undervalued sectors ripe for investment. Delving into Bitcoin, he presents a bullish stance post-October's market turmoil and compares today's AI excitement to the internet boom of the late '90s, emphasizing innovation's impact on the economy.

Mark Zandi, Chief Economist at Moody's Analytics, dives into the implications of the Federal Reserve's third interest rate cut. He discusses fragile growth forecasts for 2026 and the impact of labor market signals on this decision. Zandi also highlights the importance of political factors in shaping future Fed actions. Additionally, Scott Galloway shares insights on SpaceX's unique advantages and his cautious stance on pre-IPO investments, while Ed discusses MacKenzie Scott’s remarkable $7.2 billion philanthropic efforts.

Chris McGuire, a Senior Fellow for China and Emerging Technologies, discusses the implications of the U.S. allowing Nvidia's H200 chip sales to China, weighing national security against commercial interests. Alex Heath, a technology journalist, dives into Google's new smart glasses, highlighting their potential in the wearables market and the impact of AI integration. The conversation also touches on societal issues, with insights into rising OnlyFans spending and its connection to loneliness in America.

James Kynge, a Senior Research Fellow at Chatham House, discusses China's record trade surplus and its geopolitical implications, including Europe's trade tensions. Jonathan Kanter, the former Assistant Attorney General, analyzes Paramount's $108B hostile bid for Warner Bros., uncovering antitrust concerns and comparing it to Netflix's strategies. They tackle how media consolidations impact consumer choices and the regulatory challenges ahead, offering a deep dive into the dynamics of modern media mergers.

Scott Galloway and Ed Elson dive into Netflix's monumental $72 billion acquisition of Warner Bros., debating its implications for the streaming landscape. They explore potential antitrust challenges and how this deal could reshape the creative community. Shifting gears, they discuss the anticipated Anthropic IPO, comparing AI market trends now to the dot-com bubble. Lastly, they address the Trump Account Program aimed at supporting kids, advocating for broader reforms to enhance education and tackle wealth inequality.