Tesla’s Terrible Earnings, the FTC’s Noncompete Ban, and 24/7 Trading at the NYSE | Prof G Markets
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- Опубліковано 28 чер 2024
- This week on Prof G Markets, Scott shares his thoughts on why Tesla’s stock surged, despite worse than expected first quarter earnings. He then reflects on how a ban on noncompete agreements will be beneficial for workers. Finally, Scott and Ed discuss the benefits and drawbacks of 24/7 trading at the New York Stock Exchange.
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Timestamps:
00:00 - This week's number
00:25 - Today's episode
01:20 - Market Vitals/Headlines
19:14 - Tesla’s Terrible Earnings
24:55 - the FTC’s Noncompete Ban
32:06 - 24/7 Trading at the NYSE
38:03 - Week Ahead
38:13 - Prediction
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"change come from within" by far your best one !
“Change comes from within” good stuff.
"Alphabet doesn't break out by division its numbers, because people would figure out that essentially it's Search and the seven dwarves." - made me crack up much more than any episode starter "dad joke"
Scott's mind still lives fully inside the economic matrix.
There is a whole unknown and unexplored universe out there.
With around $250k to invest, what's your advice on entering the market? I'm considering replicating the strategies of experts instead of investing independently to avoid both financial losses and emotional stress. What are your thoughts on this approach?
Consider diversifying your portfolio with a mix of stocks and stable assets. Seeking professional advice now could provide valuable insights and strategies to navigate market uncertainties and protect your investments.
This is an insightful perspective to consider.
Agreed, my portfolio is well matched for every market season yielding 60% from early last year till date. I and my advisor are working on a 7 figure ball park
@@sebastiaanthijn7982 Your financial advisor must be really good, I hope it's okay to inquire if you're still working with the same Advisor and how can I get in touch with them?
That would be Eric Eric Paul Elmer
14:39 "No name Brazilian team Fluminense" -- sure, a team that has provided players to pretty much every Brazilian World Cup (5) in history. How many WCs does England have, come again?
He can barely pronounce the name and is clearly clueless about football, so he was probably just looking for an example and couldn't come up with something that made sense, so instead he tried to use an obscure example to his audience
So if Fluminese went up against Arsenal or Manchester City do you think they would have a chance? In a one off game maybe get long odds lucky but in any sort of group play or series probably not a chance, yeah? I think it might be a good comparison in that way, ie, depth.
Hahahaha I raised my eyebrows a lot when I heard him say "this no name Brazilian team Fluminense"....except they are the Brazilian team with the biggest fan base in Brazil lol.
24-hour trading? I'm investing in Starbucks, 5-hour energy, and dunkin' donuts.😂
CELH
24/7 is utterly bananas and won't end well
Wow "no-name" Fluminese Ed just got on the hit list for half the gangs in Rio
Ed getting to be a good analyst!
Thanks keep supporting
Fifa/Apple tournament is a terrible idea for the players. Commercially good for stakeholders but not for the players and/or team staff. The players are already playing way more games than they used to and injuries derived from lack of rest is a big problem. I'll be surprised if the important/wealthy teams are going to get behind this.
It will be interesting to see what a 24 hr NYSE does to trading algorithms. Because many[?] algorithms ask at the bottom of the world "Where did the stock close?". OK - what happens if the stock NEVER closes.....
Scott could do voiceovers for movies.
Just found your podcast through The Rational Reminder Podcast. You guys are fucking awesome
Look at Tesla today! It’s hard to have a video age poorly the same day it’s posted lol😂
Prof G appears really tired from all the media appearances promoting the book I suppose, take care Prof G, get some rest, sending you good vibes xxx
His tired is still excellent! "AI, AI , OH"🤣
"No name Brazilian team flumineze"
Fluminense FC 1902 fills an 80,000 people stadium every time they play and I'll let someone else come up with the TV numbers.
Brazil is a little bigger than England ;)
🎯 on tesla
Thank you!
24 hour trading on the New York stock exchange is not an appealing idea, especially when you have platforms that glamorize gambling.
In the music space Sony, BMG, and Universal created a block that sets pricing and so music streaming services just don't have as much pricing power. It effectively sets a performance ceiling for them. The push into podcasts is to break past the aforementioned licensing blockade. Looking at their listen-time by content breakdown might be telling, assuming they provide that.
Youngsters all over Spotify. Scott's on top of it, as usual.
Young folk might be but there are structural limits.
Like hearing Ed's analysis on the AAPL/FIFA... this deal might pass the smell test for hardcore fans across the pond.
Scotts intellectual idiom dictionary is fucking gold lmao
Lol...
Great vid
I love Ed
Spotify should be breaking zero records with the amount they pay artists.
Spotify sound quality is garbage. Apple rules in this.
Awesome job sir vua overtime....!!!🥳🍾🎊🎉🤓😎
Dare make a 5-10 year prediction for Tesla?
BK
Anyone else thinking the whole reason behind Apple partnering with FIFA is due in part to Ted Lasso? I’ll take it a step further, once Netflix aired the docuseries “Drive To Survive” F1 viewership went up 10% in the US alone
Thanks for 'Drive to Survive'.Wll ✔️ 🚘
For anyone not familiar with Ted Lasso, it's possibly the best TV series in the last six years! You should absolutely watch it if you haven't seen it.
They're mad they can't get any UEFA money
People do really stupid things in the middle of the night.
No to 24/7 market gambling.
“Daddy has more legs than a bucket of chicken, if Daddy was a mommy” 😂
Smart plan for Aaron Rodgers for VP there at the end, Teflon Don would have been furious.
I agree completely 24-hour seven day a week trading is going to create more volatility. People will be waking up in the middle of the night wondering what their portfolio is doing. And if there's some geopolitical event stocks can trade wildly in one way or the other while you're asleep I don't like it
VIX volatility index is worthless last couple years too.
That reminds me, I need to check my Schwab account.
You can already trade pre-market hours from 8am, and post-market hours to 8pm
I'm curious to know if noncompetes that encompass other mechanisms, like NDAs, going away will lead to some chaos.
There are a lot of secrets protected thinly by just these noncompetes, which is admittedly a mistake, they should have been NDAs or other contracts, but now the kimono is open.
I think some intra-company compartmentalization may become popular.
Did I hear Scott say he’s 49???
He was only off BY TEN YEARS! LoL.
He's perpetually 49.
I am for "non-compete's" that extend for outside the country though for sure!
NYSE begin open 24/7 only benefits them because they cash in the trading fees 😅
Ed the new club world cup will be every 4 years, also they need to make sure the first one will be big to make sure it actually becomes and stays a thing, I worry that having apple as the broadcast rights holder will mean a lot of people won't be able to watch and will hurt the club world cups value long term.
Great job this week guys -
Look forward to this every Monday :)
Just came to extend my deepest condolences to Ed after the Fluminense comment.
"AI" these days only means generative models. Most of the time even LLMs. Mostly transformers. I do work with Machine Learning (I flat out refuse to call it AI). Does anybody remember the hype around AlphaGo and AlphaZero? Deep Reinforcement Learning? As Yann LeCun predicted back then, it didn't change the world. And I think deep reinforcement learning has much more practical applications than transformer based compression of the internet! My prediction is: at a probability of 75%, this will be a big nothing burger (relative to the hype).
Tesla has the most real world data navigating through any environment. I wouldn’t discount that.
I'm for 24/7 if it came with a change to what is breaking markets, like a way to disadvantage millisecond trade decisions. Right now, 24/7 trading will greatly benefit algorithms.
We had a "fake" strike from Israel a couple weeks ago that was WAY overblown on the media and feeds that would have tanked the market before they realized it wasn't really anywhere as bad as they were initially reporting. The fact that it was all figured out before the next open meant it barely hit the market.
They should implement a periodic trade period where all orders are grouped, averaged, and executed at the end of each period. It should be short, like 5 minutes, but it shouldn't privilege the instant decision making of algorithms. If I spend 4 minutes deliberating a decision a CPU made in 20 milliseconds, we would both execute together at an averaged price point. This would require some nuance, but I think it's very possible and would get us back to what the stock market is actually for, supporting companies.
"Telsa appears to be in structural decline" Stock up 30% past 2 days.
And? Sales down; market for EVs down; banking on the creation and fulfillment affordable models and RoboTaxis; massive recall of 2 million vehicles OS; and the CEO has been... erratic to say the least. Then there is the shadow of China. Not great for a company that suddenly cut 14,000 jobs to save its stock. Structural decline sounds about right.
@@ampharos6585 Best selling car in the world; only successful American EV car company, leading AI driverless tech, leading battery storage, leading, safest cars in the world; no significant completion from legacy autos, only charging network. They doing fine.
There’s a sucker born every minute. It’s what people who short bottoms deserve.
@@ampharos6585banking? This is more like gambling
@@ampharos6585 Best selling car in the world, safest cars in the world, leader in driverless AI, energy, robots, robotaxi... Lots of potential for this company to break out. Short this company at your own risk.
Guess torrents back on the menu boys.
Ed is such a gem.
Elon says they have a cheap EV by 2025. I'll bet my next paycheck that Tesla does NOT deliver a single cheap ($25k) EV to a customer, by the end of 2025.
57 Billion package to Elon in stockholders meeting?! Did I mishear? Past compensation?
Is ENERGYX going to be a thing. Texas needs help with Grid.
Hope they don't make one, stay premium like Apple.
@@jannichi6431 Yes, we voted on it many years ago, Elon delivered, judge over ruled shareholders after the fact because she hates our rights, no big deal.
He is often overly ambitious to motivate.
NO NAME FLUMINENSE 😳Such an Englishman take 🤯🤯
Love Scott but RFK’s vax position is not as much of a dunk as Scott may think it is
Not everyone’s a narcissist 😂
Pretty telling he had nothing to say about Don Lemon.
Prof was awesome and insightful on the still entertaining Bill Maher last Friday. Like in overtime his advice for youngsters. MAX.
Scott, I have been diving FSD for 26 months. The last six months have been excellent. FSD now drives 100% under AI data from billions of miles captured by the fleet. This is an important paradigm shift. It is getting good. Fast. You missed the real AI story for Tesla. Get it right next time.
What an absolute joke. FSD is complete vapourware and extremely dangerous. Theres good reason why its illegal in Europe and UK. The amount of innocent people being killed by morons in their teslas is increasing at an alarming rate. Elmo is a fraud and you know it.
26:28 "non-competes for babysitters?"
Close. My friend had to sign non-competes for working with autistic preschoolers.
people gon lose mo money on that 24/7 market
Terrible? You guys are off your rockers.
Why ask scott, anything about Tesla?
So we should ask who, you?
@@indianajones3315when it comes to tsla the only numbers the fanbois care about is the share price and how many options they can donate to their cardaddy
Errors and volatility in the stock market will occur and those in charge will literally be caught asleep at the wheel. After hours trading volumes are thinner, prices more volatile. Mutual funds, TSP, and more need a market open and close for stability. This is not just greed, but exploitation of the neurotransmitter-driven gambling mindset and will not end well.
East Asian investor here. There is a joke where I am that Asian investors are forced to hold stocks for the long term everytime a trading holiday coincides with a long weekend
btw the Market is actually open 6:30 to 1pm
smoken like a californian (wink)
The data in these episodes is always old by the time to episode airs
Didn’t age well on Tesla and China. Classic Scott
I collect my Coins. Forget about it!
Year of the Union. South Brace youself.
Spotify also stealing dollar bills from AAPL
Apple and FIFA - a mess waiting to happen - These players are exhausted. Most of the top players do not want to play an extra tournament every year in the US
Aaaaggghhh after listening for years to the podcast I finally see your faces!!! 😊😊🙃🙃
@0:58 😳🤔😵💫😵💫😵💫
... I'm the boss, so "Them" and "We" is me! 👍👨🦳
🤣🙄😬💁🙈🙈🙈
I think Scott is wrong about Tesla.
Our current generation of AI's are built on LLM's most of which are built on public data from the internet.
Tesla has the biggest behavioural navigation data set in the world which includes possibly every road/alley/dirt track in the entire world. This dataset includes visual/geographical and contextual driver behaviour.
The behavioural data is critically important. it will be the seed for the next generation of AI that can SIMULATE human behaviour in the real world based on a real world learning dataset. The current generation of Tesla's FSD is showing this where you can choose how "agressively" the car drives.
This is why Elon is stating Telsa is more than a car company. The data and it's possible uses make him right.
Lots of bad press for Telsa, but it likely means people are overly bearish.
I wonder if 24/7/365 trading will actually make those types of jobs less stressful because it will remove all of the arbitrary "deadlines". No more, "hurry, we have to ___ before the market opens/closes!!!"
Best joke yet.
Ed, you need to at least pretend to be interested in what the boss has to say!
This seems like the worst period.
Even the market are now very unpredictable. Started investing recently when the market prices were a bit high,today I am more than 60% down!
Please educate me, i'm willing to make consultations to improve my situatio
😱Wait is this the same lady? That helps me with 17k investment "wow" such a small world..
I'd love to know this mentor of yours
Please how do I find this financial counselor?
Prof G got a thing for Florence Henderson.... But who didn't?
CRUSH RFK! GO FUCKING GET HIM!
He’ll crush Scott
24/7 trading should not be allowed. The government is paid to be the adult in the room. They need to begin acting like it.
The "story behind the story(5:03 - generational comment that lacks accurate perspective)" isn't that "people" are doing better than we thought. The investment sector isn't ever representative of the genuine populace of this country - this reminded me of the disconnect that places like Bloomberg perspective constantly discuss from...
2ndly - European Club Football is actually the PEOPLE's sport worldwide...the tournament will be popular if the real people actually watch it - this is an attempt to justify the failed "Super League..." It promises big but the jury is out because of the time they play it at because the best players have to play - Europeans don't like their teams to go outside of Europe!
FIFA clubs world cup doesn't seem to interesting, for m at least cause it is designed to favor UCL and Libertadores winners above the rest of teams from the other confederations... I think this is only a marketing / cash grabbing idea from FIFA/Apple by exposing soccer to casual fans, not something to really catch hardcore football fans.
Nice episode. Love Scott's take on the non-compete... I think Ed should get a considerable stipend specifically to improve his wardrobe, if the workplace demands he wear Armani or Bottega Veneta. 😉
Love you guys be my friend
He’s right about Apple sorry they are right
We get that you aren't super fond of Elon but to say that he's trying to cover up his core business with ancillary considerations, like robo-taxi and AI, doesn't appear to be accurate. The dude has been talking about those various endeavors as core businesses for quite a while at this point. My takeaway from his ramblings over the years is that the car was a means to the end in terms of figuring out energy and computing capabilities (now AI). Darn you for putting me in the position to "defend" Elon, but I still love you.
From the TED :How the US Is Destroying Young People’s Future | Scott Galloway | TED
Tesla sucks way too expensive when you can buy something like a Honda civic for 4000 and get 35 miles to gallon easy plus fuel discounts….
How many world cups did England win?
Scott, you are looking tired. time for a day off.
Apple has never broken out separate silos of income - 24 hour trading is going to wipe out small investors who have no chance to monitor their investments 24/7 -
Just listened to a podcast from a couple weeks ago about your investment portfolio.
You’re going to the news and complaining how younger generations are being screwed by current tax systems and asset price growth, but yet you’re contributing and playing the system, and you think just because you give money away that makes it ok?
Why don’t you work on changing the rules instead of playing the game at these high levels that 99% of people can’t compete with?
How is incentivizing your listeners to invest into real estate going to fix the real estate prices? All you influencers are just keeping the speculation high because deep down you don’t want your investments to flop.
Thanks for tuning in! It's important to address systemic issues, and I appreciate your perspective on influencing change. 🔄
@@theProfgShowscottgalloway I appreciate your perspective on trying to influence change but I can tell you without a doubt it’s not working. All the boomers and older millennials are doing is buying up more houses with their equity because they feel they need to hold onto as many homes as they can so that they can sell them to their kids when they want to buy a house.
It would be cool if you and Jordan Peterson did an interview on your podcasts. The two of you would have a very good discussion on current demographic affairs and how it will affect the future generations.
And if it’s possible, I’d like to be there.
Why u mention middle east war, but don't mention Ukraine , which has 10-30x biggest war?!
Non competes are fucking dumb. They never held up in court but who actually took them that far
Your Tesla analysisseem off ot me.
- Do you not realise that self driving car learning to drive is AI?
Tesla is also now using generative AI to create videos, using the millions of kilometres recorded, to feed to the AI models that learns how to drive?
Yes your podcast was recorded a few days ago, but Elon commented on Tesla $10 billion investment in AI hardware.
- Off the driving AI, a similar AI can be forked for the robots
- The energy distribution network is another
- Some of the new cheaper platform advances are being adapted/retrofitted into the current models to improve margins and/or reduce prices. BYD is not the competition (there will be tariffs in the US and EU) it is the other indigenous automakers
Fluminense fans will not be happy
Scott:
There is a Rwanda-scale genocide happening at THIS VERY HOUR!!
Not my conclusion -- rather the conclusion of the UN: Article 2 of the Genocide Convention defines genocide as "acts committed with an intent to destroy, in whole or in part, a national, ethnical, racial or religous group". Have you seen the smoking crater which was once Gaza? And more is to come!
I so wish your recent Middle East tour had included visiting those suffering the worst of it!
It is incumbent upon those who have both the platform and reach to speak out in the face of atrocities. Is that you, "boss"? Please speak out on Israel's double-standard when it comes to abiding (or not abiding) by international law!!!!
It is evident which side your bread is buttered on. Remind us again whose board you sit on? Oh yeah, the New York Times.
So disheartening!
No name Brazilian team fluminense??????????????
As always, wrong predictions everywhere. RFK pulls more from Biden, not Trump
17:00 rfk is well informed on jabs, how about you listen to some of his interviews on the subject before criticizing medical facts based on your political opinion.
Scott Galloway is an idiot.
I have an example that supports a noncompete agreement: (NCA) I was prez at a medical school. Urologist wanted a pediatric urology fellowship. I paid him, $750K + expenses to go for 18 months because there was no other pediurologist in city. I asked for 2 yr noncompete & he signed it. When he returned, he quit, went into private practice with a competing hospital that guaranteed him $3M. My board refused to allow me to prosecute NCA. Why? “Because it will appear to the community that we are trying to block medical care to children.” Wimpy attorneys!
A narcissist bad mouthing a narcissist
I'm hoping Ed will eventually realise his hairline is something he should ask Scott about
Need room for the brain's rapid expansion. So appreciate his dedication and work on a fav show🙏👍
Your depth is impressive.
Second
I don't understand how the Professor looks at Elon as a genius than a fraudster who made it far. Whether it is SpaceX or Tesla, it's all all talk and no walking. The only reason Tesla survived is because the engineers that started Tesla left the good DNA w/ a good idea. He can only run with it so far. Now we're seeing Tesla getting lapped by newer upstarts. We're' seeing this "genius" at work. We know this guy is stupid. He's literally a fraudster. His genius is convincing everyone that he's a genius. I bet he looks up the fancy words he'd use on his interviews the night before and people buy it.
First