The Most Profitable Year in Banking History, Elon’s Tesla Stake, and Firing People | Prof G Markets

Editor’s Note: Unfortunately Scott’s video dropped in and out during this episode due to issues with our recording platform. Fortunately the audio was retained, so we will present those missing portions with a graphic instead of video footage.
This week on Prof G Markets, Scott shares his thoughts on Elon Musk’s demands for a 25% stake in Tesla. He also takes a look at the latest bank earnings and breaks down why 2023 was the most profitable year ever for JP Morgan Chase, while Citigroup swung to a loss in the fourth quarter. He also discusses best practices for firing or letting people go.
Timestamps:
00:00 - This week's number
00:25 - Today's episode
01:50 - Market Vitals/Headlines
12:43 - Elon’s Tesla Stake
16:55 - The Most Profitable Year in Banking History
26:04 - Firing People
34:08 - Week Ahead
34:21 - Prediction
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Пікірлер: 85

  • @dmkellett
    @dmkellett5 ай бұрын

    The inappropriate comments are why I’m in love with this podcast ! Utterly hilarious , and then straight into super high quality financial content! Perfect - keep it up guys

  • @iolantherosa9333
    @iolantherosa93335 ай бұрын

    I have a lot of respect for Ed, especially his ability to push back on Prof G's takes, however I was amazed at his lack of awareness about "super complex products" built by "crazy smart engineers" that serve very specific niches. Dude, that is basically the entire tech industry! It's not all FAANGS, despite their weight in the DOW. Do you see how all these techies are getting laid off, but no one is talking about moving into their parents' basements? It's because most tech jobs are working for precisely those kinds of "boring" companies and they are always hiring. Do you know how many components go on a printed circuit board, each with a highly niche function? How much software goes into the infrastructure required to operate your traffic flows? How important it is to have a tool that enables you to measure jitter on a fiber optic fiber? That's literally how most tech people are making a living right at this very moment! I think this would be an excellent topic for a No Mercy No Malice, because building these kinds of tools for infrastructure is probably the most important thing college STEM grads should be aspiring to, not drinking free kambucha at Pinterest.

  • @mueslix8391

    @mueslix8391

    5 ай бұрын

    What?

  • @janellesamuels3385

    @janellesamuels3385

    5 ай бұрын

    In summary, tech bros run shit and get jobs.

  • @HughJass-jv2lt

    @HughJass-jv2lt

    4 ай бұрын

    _CALM DOWN._

  • @JFromAcc

    @JFromAcc

    4 ай бұрын

    Free kombucha does sound nice though. It's very refreshing. Pardon my Seinfeld.

  • @parkmannate4154
    @parkmannate41545 ай бұрын

    In tech companies typically if you're under 6 months they won't pay severance. And in many states including California if you are fired for performance you can challenge their unemployment benefit and not have to pay that when employers need to pay into UI

  • @scottg2946
    @scottg29465 ай бұрын

    Ed, once again....killing it!!!

  • @matthewhopkins5701
    @matthewhopkins57014 ай бұрын

    Please talk about the video game industry in some shape or form :) would love to hear yall’s take

  • @markusmcgee
    @markusmcgee5 ай бұрын

    Last week joke.....priceless....Edit. What Scott is saying, stay until you can transition is awesome. I have seen this happen a few times (I'm in tech). But his thoughts are 100.1% correct. Edit again lol...she may have a EEOC complaint right?

  • @jannichi6431
    @jannichi64315 ай бұрын

    Good HR video lesson, thanks for tackling the taboo subject. Burning ANY bridge not healthy. Raising wages 2024!

  • @jimbojimbo6873

    @jimbojimbo6873

    5 ай бұрын

    Some bridges have to br burnt to get what you want

  • @chiefenumclaw7960
    @chiefenumclaw79605 ай бұрын

    Thanks, Scott!

  • @Nolimit276
    @Nolimit2765 ай бұрын

    Hey ed can you do a video on your research process?

  • @KeenPlus
    @KeenPlus5 ай бұрын

    Love the pod. Also super curious what software you use to record / edit your videos?

  • @lauraaugustine6142
    @lauraaugustine61424 ай бұрын

    Don’t worry guys, I’m a woman and I love all the jokes. Keep being yourselves, it’s refreshing.

  • @juanlehoux106
    @juanlehoux1065 ай бұрын

    The difference between a bag or a Rolex is that those products are pure luxury. They don't do anything that you can't do with much cheaper product. An iPhone has much functionality and the user experience is so much nicer, that people basically get hooked on this product and won't ever switch.

  • @sciencefliestothemoon2305

    @sciencefliestothemoon2305

    5 ай бұрын

    Have both, can live W/O the iphone

  • @IOFLOOD

    @IOFLOOD

    5 ай бұрын

    Flagship iPhone is only a little more expensive than flagship Samsung. It's all the accessories and upgrades that are overpriced (airpods, ram and storage, cables and chargers). So I don't feel like Apple is defying gravity here. Their excellent branding allows them to sell a slightly worse product than Samsung at a slightly higher price, and make killer margins when people buy the addons. Fundamentally that positioning does still allow for being a volume leader. Pure luxury products by definition are ones pirced so that most people cannot afford them. iPhone is not "luxury" by that definition -- it commands a premium margin, but not a luxury price.

  • @sciencefliestothemoon2305

    @sciencefliestothemoon2305

    4 ай бұрын

    @@IOFLOOD I have a Lenovo. Does the same as the work iPhone. Costs a lot less too.

  • @IOFLOOD

    @IOFLOOD

    4 ай бұрын

    @@sciencefliestothemoon2305 Ya but its not like a bag where a $5,000 product is indistinguishable from a $500 one.

  • @user-wu5fr3io9s

    @user-wu5fr3io9s

    4 ай бұрын

    Wrong, other android phones do the same functionality.

  • @HughJass-jv2lt
    @HughJass-jv2lt4 ай бұрын

    I wish i caught this episode at lunch time yesterday.... Spirit air was at $8. And Now this morning.... its up 15% 🔥🔥🔥 At least i was able to catch half the gains ☀️☀️

  • @tutornick
    @tutornick4 ай бұрын

    Your discussion on Apple phones was insightful... But it would have been useful to show the past trend as my understanding is that Samsung are being squeezed by the Chinese phone manufacturers, rather than losing market share to Apple consumers... Apple hold a monopoly on their platform. Samsung don't. I believe that is the underlying reason for the market share trend - not the messianic branding success alluded to in this podcast. I'd welcome your thoughts on this.

  • @spudboi007
    @spudboi0075 ай бұрын

    I like the show but I will never get used to the perv-dad jokes at the beginning

  • @alamb0477

    @alamb0477

    5 ай бұрын

    And Elon Musk is supposed to be unhinged…

  • @ReasonableHuman1
    @ReasonableHuman14 ай бұрын

    Thanks

  • @IOFLOOD
    @IOFLOOD5 ай бұрын

    Saying fired for performance reasons, when it isn't, is to get out of paying severance or unemploymemt. Scum move.

  • @BlueSkyOcean

    @BlueSkyOcean

    4 ай бұрын

    Amen thank you

  • @tuams
    @tuams5 ай бұрын

    I think that the Ansys software will make it easier for smaller companies to make planes, thus more competitions for the big boys. The tech could reduce the cost of testing planes which is a huge cost, if you want planes and they have to be 99% safe.

  • @njlillegard
    @njlillegard4 ай бұрын

    I took this dfTikTok firing straight to the Intro to Management class I teach. It will be interesting to see what a group of college students think of the situation. Thanks for giving me fodder to teach with.

  • @axeldt183
    @axeldt1835 ай бұрын

    first, big fan scott!

  • @Well_Earned_Siesta
    @Well_Earned_Siesta4 ай бұрын

    We've gotten so comfortable with corporate gaslighting and HR doublespeak that when Brittany called it out (in real-time), it was somehow "shocking".

  • @doctormojo
    @doctormojo5 ай бұрын

    A perfect theme song for Scott's rant about Musk is Blackberry Winter, by James McMurtry (one of the better and more thoughtful lyricists out there).

  • @BrianMartensOfficial
    @BrianMartensOfficial4 ай бұрын

    It's not that luxury defies economics, luxury often becomes a Veblen good.

  • @smudlo1993
    @smudlo19934 ай бұрын

    Oh I just watch these for the bad jokes of prof G

  • @birdofprey777
    @birdofprey7775 ай бұрын

    She clearly hasnt been through a round of layoffs before

  • @CodyAndrews303
    @CodyAndrews3035 ай бұрын

    I can't wait to see the movies and shows they make about Elon 10 years from now!

  • @johnbailey3351
    @johnbailey33514 ай бұрын

    There was a small company, called Fairchild symbol FA, that voted in a dual class voting system. The controlling family traded giving away the dividend on their shares for more voting power. Of course soon after the family took control they eliminated the dividend. It took a shareholder vote. That occurred about 25 years ago.

  • @tecala1
    @tecala15 ай бұрын

    1st: Scott, just because I surprised you at Chipolte doesn't mean it bothered me. And, Ed, regarding your friend's girlfriend, if she doesn't really like it, she doesn't need to do it. It's a personal preference.

  • @AEKerr
    @AEKerr5 ай бұрын

    Please don't change the start up; The shock & crudeness is needed to get everyone's attention, You will stick around if you're an adult😎🤓🍾

  • @ned5162
    @ned51625 ай бұрын

    In normal times, I'd agree that controversy like Brittany's would hurt Cloudflare's reputation/hiring, but in this employer favored market, with large layoffs happening everywhere, there's an abundance of people willing to take her spot. Even if it's only for 5 months

  • @janellesamuels3385

    @janellesamuels3385

    5 ай бұрын

    Agree, nothing will come of this except a flag in her background check if she ever apply for a Fortune 500. But she’ll likely get married to a guy like Scott and never have to worry anyways. Life of a white girl 🎉

  • @IOFLOOD

    @IOFLOOD

    5 ай бұрын

    The best people have options, and don't want to work for companies that conduct layoffs while fraudulently pretending they are not doing so.

  • @oliverp8006
    @oliverp80064 ай бұрын

    Elon Musk currently owns about 13% of Tesla outright (~412M shares). Additionally, he currently holds about 304 million exercisable stock options from his 2018 compensation package for $23.34 per share. Exercising all of those stock options would result in Elon owning ~22% of Tesla (at $TSLA's current outstanding share count of ~3.19B). Net of taxes, it'd probably be closer to 18-20%. + he's not the man you can trick into a new compensation plan with 'crazy' targets to give him what he wants after he experienced the Sam Altman/OpenAI drama. He can easily fund and grow his AI and robotics segments outside of Tesla.....

  • @jannichi6431
    @jannichi64315 ай бұрын

    Ackman like Ellon didnt stay in bis lane. 🥵

  • @JongGoh
    @JongGoh5 ай бұрын

    Cloudflare is so bad and didn't manage this well. The HR should be fired instead!

  • @marycronopulosraz9776

    @marycronopulosraz9776

    4 ай бұрын

    The employee was as bad as HR.

  • @tifftom
    @tifftom4 ай бұрын

    Can you please get a if if this accent?

  • @gmart225
    @gmart2254 ай бұрын

    Ed can get it ngl

  • @cobraspottedwolf8791
    @cobraspottedwolf87915 ай бұрын

    Brittany Peach is a badass

  • @boxingsense3459
    @boxingsense34595 ай бұрын

    Looks like proff Galloway still has an unresolved beef with Elon Musk 🤣🤣🤣

  • @neilmoran9988
    @neilmoran99885 ай бұрын

    Chipotle joke. Chicago graffiti "Chipotle ,food for white people"

  • @janellesamuels3385
    @janellesamuels33855 ай бұрын

    Disagree with Scott about Ackman . Someone needs to stand up against ESG bullying.

  • @Ussnoss
    @Ussnoss5 ай бұрын

    l only come here for Scotts jokes!

  • @tifftom
    @tifftom4 ай бұрын

    We need American

  • @kapdolkim1914
    @kapdolkim19145 ай бұрын

    So Elon wants to take 12% of my shares to continue to run Tesla. F' yah. I am sure my stocks will rise way more than 12% if he puts his heart into the company (there is an 'if' there).

  • @atreidesN

    @atreidesN

    4 ай бұрын

    You mean if he sells X and stops courting controversy

  • @tifftom
    @tifftom4 ай бұрын

    We just want to see Scott not this London intern

  • @KK-pm7ud
    @KK-pm7ud4 ай бұрын

    That Karen employee is the epitome of this weak generation of workers. The company is letting you go. Move on.

  • @BodyByBenSLC
    @BodyByBenSLC5 ай бұрын

    When is everyone going realize Elon is a con-man. "He's 10x the value of company." A company that makes cars that get recalled! That's a bubble! Short Elon!

  • @sciencefliestothemoon2305

    @sciencefliestothemoon2305

    5 ай бұрын

    Which cars don't get recalled? And most Tesla problems are fixed with OTA updates.

  • @boxingsense3459

    @boxingsense3459

    5 ай бұрын

    ​@@degenerate_mercenary9898 Tesla has the lowest amount of physical recalls of any serious carmakers. You wouldn't call your Iphone software update a recall, would you?

  • @BlueSkyOcean

    @BlueSkyOcean

    4 ай бұрын

    A person who has engineering degrees knows he is total con … most people who thinks he is God have not studied enough

  • @sciencefliestothemoon2305

    @sciencefliestothemoon2305

    4 ай бұрын

    @@BlueSkyOcean funny how the engineers working for him say the opposite. As a person with a KZread degree I call "trust me bro"

  • @houstongalloway6380
    @houstongalloway63805 ай бұрын

    ANSYS sucks.

  • @WriteInAaronBushnell
    @WriteInAaronBushnell5 ай бұрын

    US needs to nationalize the airlines and the railroads

  • @boxingsense3459

    @boxingsense3459

    5 ай бұрын

    No, just nationalize all private companies. Would that be ok for you?

  • @WriteInAaronBushnell

    @WriteInAaronBushnell

    5 ай бұрын

    @@boxingsense3459 any private companies that need to routinely bailed by tax payers

  • @marjorietench3925
    @marjorietench39255 ай бұрын

    I wouldnt hire that woman after she posts the video…

  • @chipndahla
    @chipndahla5 ай бұрын

    Don't like the 'jokes' either. Highly tasteless. Makes me listen to fewer of the videos...

  • @organic723
    @organic7235 ай бұрын

    Gonna stop listening, on the off chance he does any more "jokes"

  • @alexbrown1170
    @alexbrown11704 ай бұрын

    Scott not only jumped the shark he looked for any orifice it had to jump in. Completely turned off by constant narrative of his specialness. FOFF

  • @elguapo10191
    @elguapo101914 ай бұрын

    The intro jokes are just so terrible. Highly offensive and stupid. Hard to recommend this show to anyone even tho I like the show of these jokes. Totally pointless.

  • @swphilosophy3040
    @swphilosophy30405 ай бұрын

    Dumbest take on Citi ever

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