The Future of TV, Gold vs. Oil vs. S&P500 and the Future of Interest Rates

Reformed Millennials - Learn Earn and Invest

Listen in podcast app and follow below for the podcast topic arc.

* Market update

* Interest rates, Gold, and Stocks ++

* Canadian Market

* Sports, ESPN and the rebuilding of the entertainment bundle

* Recommendations

Listen on Apple, Spotify, or Google Podcasts.

What’s Going on in the Market📉📈

Q3 ‘23 was the first quarter in a year where S&P earnings finally grew (albeit only 1%)

Underneath the surface there is a lot of churn taking place

Tech firms are growing earnings across sectors, and taking share from legacy tech

E-commerce is extending beyond retail to drug delivery, food delivery, telemedicine, etc

What i’m seeing:

* CVS > NowRx

* Emergency Rooms > TeleMedicine

* Grocery > Instacart

Legacy advertising continues to lose ground to digital ads

* OutFront Media (billboards) > Google

* CableTV > YouTube / TikTok

* Newspapers > Substack/Beehive

Even industries like Basic Materials are changing.

* Paper manufacturing down

* Steel > Carbon Fiber

* Concrete > cost efficient Concrete

And so on…

Aggregate earnings growth of 1% masks the true underlying change

New players are growing earnings 10 to 20%, while legacy players are seeing earnings decline of 5% to 40%

On the surface, it looks placid.

Underneath the surface industries are transforming…

links mentioned in the podcast:

* Mexico is the new China

* Pandemic Boom and Bust

* No Landing Sentiment - Bob Elliott

Podcast & YouTube Recommendations🎙

* Why Shopify did a deal with big bad Amazon:

* The Rise and fall of ESPN, the future of Cable TV and bundling:

* An update on the business of Rolex:

Best Links of The Week🔮

What Happened in Vegas by David Hill

How Jimmy Hoffa built the Teamster’s modest pension fund into something that “operated as one of America’s largest banks,” and what happened when he turned it away from conservative public market investments toward bets like financing casinos with the mafia.

SVB's Demise: The Hidden Cost of Overcharging in the Competitive Banking Landscape

Contrary to popular belief, the collapse of SVB was not due to a sudden frenzy of withdrawals. Their practice of overcharging customers would have driven them out of business if the March 2023 collapse hadn’t gotten there first.

Bonus (Listen): Bryan Johnson: How to Age in Reverse on World of DaaS

Bryan Johnson is spending millions of dollars a year to reverse his biological age, and it’s working. His program is intense, but he shares the most easily replicable pieces of it (which are more approachable than you might think).

How Larry Gagosian Reshaped the Art World by Patrick Radden Keefe

A look into the secretive empire of art dealer Larry Gagosian, a unique global force who helped make the art world the $65 billion industry it is today.

“Winners Take None” by Hunter Walk

Most software markets are winner take all. Some of the most (over)hyped VC-backed “tech companies” of the past decade are probably winner take none, and maybe never were tech companies either.

Amazon’s Cloud Crisis: How AWS Will Lose the Future of Computing by Dylan Patel

A comprehensive look at the rise (and potential fall) of an $80 billion business.

The wonder drug I hoped would stop my 11.30pm fridge raids for cheddar and chorizo didn’t work for me. But I still believe it could change the lives of millions by Boris Johnson

Whatever you think of Boris Johnson, he’s a masterful writer. No US president since Thomas Jefferson could write like him.

Bonus (Listen): Steven Pinker: Human Cognition vs. AI

Steven brings his perspective from cognitive psychology to explain how AI does (and does not) mirror the human brain. We also discuss rationality, intellectual freedom and super powerful AGI.

MORE:

* Dara from $Uber talks about why he’ll always find a reason to say his company sucks - Wired.com

* How Dollar stores became magnets for crime - ProPublica.org

* How people are getting Doxed for just 15$ - 404 media.co

* How Saudi Arabia is buying up the world - New Statesman.com

* Nikes Marketing Blind spot - Trungphan Substack

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