I appreicate that despite Scott's position in Shien, Ed had the freedom and space to speak his mind with a differing opinion on the company and its outlook. Nice to see the pod maintains a level of transparency and integrity despite its growth
Lol do you think ed REALLY agrees with all the other silly things scott agrees and disagrees with? Ed is only able to speak his ACTUAL OPINION on stuff that doesn't hurt scott in the squishy Feely areas. Ed is a really smart kid. Scott has some REALLY silly/naive highscool kid caliber opinions and biases. There is NO WAY a kid as smart and business savvy as Ed ONLY disagrees with THAT Lol. Ed has too much critical thinking abilities to blindly choose and form opinions/decisions based on the political affiliations of the topic at hand. Lol. I'd go nuts having to pretend to be naive daily if I were ed.
@@tigreytigrey8537 This Ed knows nothing about the subjects mentioned in this show. He definitely never bought from Shein. He absolutely never used Perplexity. Everything is his 'gut' feeling which is just wrong. "Google has the best search product". Dead wrong. Also if raising multiple rounds in a year was not a issue for the investors then it was not a issue at all. It is amazing how little he knows for how confident he appears.
I always appreciate Ed’s perspective. One thing I wanna add, when he was comparing the contemporary housing situation to that of the 1980s; when considering down payment. It is a much different situation.. whereas the total cost of ownership may be proportional, the barrier to entry is much more challenging due to the higher down payment required for today’s market.
To add some numbers, the median down payment in 1981 was 30%, while it is 8% today. So the percentage of home value being financed has gone up 31%. A median household buying a median priced home at 19% in 1980 was paying 41% of gross income for their mortgage. The same household today at 7% interest (plus 1% PMI) is paying 42% of gross income on their mortgage. So even considering it was easier to afford a larger down payment, it is still basically the same today as it was in the early 80s. Everyone is upset because of how good things were from 2012-2020. That same median household buying a median home in 2012 was paying 24% of their gross income on their mortgage. When it was so good for nearly a decade it's hard to go back to how it was 40 years ago.
Scott, I think you should point out how to deal with catastrophic breaks in income (lay-off, divorce, sick parents, etc.) and how to deal with it. I was foolish enough to liquidate my 401K funds multiple times to deal with family events… most folks don’t know that they can go into personal bankruptcy while protecting their 401K funds… it’s not just about starting to save when young, but critical that you preserve what you put away, even in bankruptcy.
You should have at least 6 months of full income saved. 12 months would be better. Of course this is full income, so you should be able to make cuts and make it last longer.
@@autohelix Yes, that’s the generally accepted wisdom, but that wasn’t my point… folks that go through traumatic life changes frequently tap into their 401K, even if they had 12 months of living expenses saved up. Medical bankruptcy, meaning bankruptcy caused by excessive medical expenses is super common, but folks frequently go into bankruptcy AFTER they exhausted all 401K savings, which sets they up for long term failure. 401K funds are excluded from personal bankruptcy proceedings, but most folks don’t know what that.
@@ParoxysBrianW I don't understand people like that. My Wife has been through 2 big back surgerys. 3 kidney stone surgerys, and has quite a few health issues. I have been out of work 15 weeks over the last 2 years from my own surgerys. Do these people not have health insurance or what?
Lol it's because McDonald's has republican history. It's LITERALLY THAT SIMPLE. He blindly sides with whatever aligns with his political views. Not because logic.
@@tigreytigrey8537 A Republican history? I've never been aware of that and don't know anyone who thinks like dat. I mean Clinton ate burgers Trump ate burgers.
Live in OC California. We could buy a house, but my rent is half the mortgage payment and I can leave the down payment in the stock market (up 35% in the last 12 months.). We may never buy.
I had started my career in 1987 in a very small start up. Through subsequent acquisitions we were absorbed by a worldwide megacorp in late 1999 in which their benefits started in 2000 that included a pension plan which I imagine wasn't anywhere near as generous as the old timers had had because my "generation" of employees had a 401K plan in addition, where the company matched 100% of the first 3% employee contributions, and 50% of the next 3% of contributions. The aggravating thing is the company match was only in company stock...So after every paycheck I would go in and roll it over to the equivalent S&P500 index fund in the plan...When I was laid off in one of many large waves in early 2019 ( that is still continuing), I looked at the pension balance and what it would be when it started paying out at my age of 65, I was like "Nah, roll it out to an IRA". If memory serves correctly, there was no COLA for inflation on that pension anyway, and thinking how much that pension would be worth ~20 yrs later (at the time), it didn't make any sense to me...Plus I didn't really trust the company any longer at that point.
I think the Chipotle E. coli outbreak wouldn't have been a big deal if there'd been only one. However, following the initial November, 2015 outbreak with a _second_ outbreak in December of that year was enough to damage the stock and etc. Fun fact: This wouldn't be as common if the US food supply was more diversified. IE, if they got things like lettuce from multiple locations across the US vs. one giant lettuce patch nestled next to a hog factory.
Here’s the biggest issue with investing in SHEIN imo. It’s the fentanyl imports coming through on the back of the legislation that enables SHEIN to operate in the U.S. and I for one want that legislation repealed, because the fentanyl.
Agree with Ed about the troubling ethical standards of Shein. On the other hand, I spent over a decade predicting the day that Apple's business would finally suffer over their troubling supply chain...so, the "moral of the story".....never underestimate the American consumer's ability to look the other way when it comes to buying some new fashion statement or strut around with some prestige item or get a smoking great deal. And when you grasp that sad reality, you will also find answers to the mysterious support level for the Orange Menace...in spite of his naked criminality, racism, clear admiration and fealty towards Putin, and downright rudeness....some Americans just put all that shit in the backseat because of what they think that support for Trump says or illustrates about them. Sad....very sad.
Since 2014 Boeing has spent $43.5B between 2014-2019 on stock buybacks. If the pension benefit had not been eliminated in 2014, the projected cost between 2014-2019 is projected to cost $16.7B. It is projected that cost to Boeing for reinstating the pension benefit would cost $1.6B per year. Boeing can afford the fixed pension benefit without question. Given the fact that the overwhelming majority of Boeings stock buyback efforts have been pissed away on the wind, returning the pension benefit to labor will at a minimum reduce the poor financial management Boeing has put forward over the past decade. #GoLabor
what the hell are you talking about eliminating the pension allowed a cheaper alternative in putting the risk onto the employees rather than sustaining a pension fund, why do you think all of corporate america is adopting it? the 43.5b is correct but where the hell are you getting the reduced cost of 16b for a more expensive traditional plan 😭 if anything they wouldve had worse financial management, the issue with boeing is the disconnect between executives from the production system, if you arent building shit from bad practices and focusing on customer demanded deadlines rather than their production system itself how the hell are you going to make money, what the hell are you talking about😂
Truly like Scott G. Big fan but investing in Shein is a disappointing move. The environmental impact of the production and shipping of garbage clothing like that is off the charts and not even raised here. He's rich AF, he can make more morally sound decisions where he drops millions. Shein and Temu are not what the world needs.
In a consumption based economy and society, knowing you have a monthly income after you retire would make you spend more now and save less for later since retirement is covered. Which arguably might be a reason for the crazy growth of the 70s-80s when more companies did this. But now, companies are public and accountable to shareholders, they pay dividends instead of investing in their employees. A small number of private owners wouldn't care much if one year they profit say, 300M$ instead of 400M$, if the machine keeps churning.
A pension, "feels outdated". Well it works. A lot better than 401K's. Most companies no longer match 401k's which is exactly how they were designed. Bottom line not funding pensions and now 401K's is one more act of greed.
Off topic, but I heard you've been writing a book about masculinity. I'd encourage you to read "The Gates of Fire", by Steven Pressfield, if you haven't already. It'll catalyze your thoughts on the topic, especially considering what young men in todays day and age want/expect (of what they think they want), in contrast to what you claim they should be striving for...which I absolutely agree with.
Went on J crew website after the mention. Is just good will clothing at 10x prices. It’s interesting to learn Ed spends that kind of money on sweaters and jeans.
32:45 that’s a misunderstanding of averages. The high birthrate and childhood mortality is what causes that average to be so low. If you were lucky enough to make it past childhood, you were likely to make it past your 35th birthday. The evolutionary selection from that mortality bottleneck was probably closer to younger pubic sexual maturity that comes before mental or physical maturity to keep the population from collapsing.
One of the biggest historical jumps in average life expectancy was after doctors started washing their hands during childbirth where the mother and child drastically increased their chance of survival. It’s not that people suddenly stopped dropping dead at 35 when that average went up.
"Think about it...OpenAI is used in writing silly text; Perplexity is used for search. Who would you rather invest in?" Ed is a master analyst. The segment gets dumber from there. A masterclass... lol
28:40 the problem is that a defined contribution plan like that depends a lot on the stock market or Whatever financial instruments the account is invested in. If the market crashes, then you'll lose a lot, regardless of how much you contribute to your retirement account
Shein(and H&) are currently moving towards using polyester made from recycled bottles from India. While I cannot speak to their child labor practices I can say that they are actively working towards sustainable practices. Note: Using P.E.T. in clothing is not currently recyclable. In short, the fashion industry is changing monthly and all of that Shein (H&M) clothing cannot be recycled in a cost effective way. (Business Insider)
McDonald's started fixing their ice cream machines and doing a whole bunch of press management. Chipotle had shorts and hedge funds working against them to add fuel to the fire
DB pension plans unfortunately are largely gone. If any remaining its a union with some bargaining power or a seriously professional membership, not part time working dilitentes. DC has been the big one for quite a while. We're forced to do it or else pay up a higher income tax rate. Employers dont want liabilities. Not going to change ever
NYC is the wrong market to be thinking about buying a house. Renting is cheaper than buying. Use the savings to build your portfolio. Save 30% of your income.
Defined benefit versus defined contribution. Why not both ???? (if you have the option). What's not mentioned here is the employee/ employer contributions As someone who currently has both a DB and DC scheme. my DB pension contributions are made up of the following 8% personal contribution 16% employer contribution. Obviously adds up to an insane 24% 😮😮😮 And the big one that NOBODY MENTIONS....DB pensions increase in value by the rate of inflation on an ANNUAL BASIS (this is almost incomprehensibly valuable.... especially over the last few years ....for obvious reasons) Now compare that to the LEGAL MINIMUM in the UK for DC pensions set up by employers, which is 8%, and that is made up of the following. 3% employer contribution 4% employee contribution 1% tax rebate (assuming you are in the 20% band) All of a sudden, it's not hard to see why people throw around terms like "gold plated" pensions when they are referring to DB schemes. This is definitely not an either / or scenario. Use both financial instruments to your advantage. Love your work gents 😊
Ask google what train to take from Rome airport to your hotel in Trastevere, and see who can answer the question. It makes no sense to ask google for an answer when you need an answer not options.
One day, in the distant future, your son is going to be picking out a nursing home for you. He can go with the really nice facility, or the filthy one that has complaints about the staff abusing the patients.
Wow, dude. You might cause trauma that will leave him emotionally a teen for life with faulty relationships, emotional immaturity/dysregulation and shame. 👍
10:30 - Scott : "It's not the revenue increase, it's the revenue mix" ... finally. 11:00 - Ed : "It's not an AI company" ... what do you think Tesla has been doing for many years with Self Driving? Why do you think it bought 100,000 Nvidia GPUs? Who will a big number of automakers (if they still exist) license their self driving software from? And now cheaper Tesla models (cheaper to produce) will be releasing in 2025/2026 when there is a resurgence of EV demand.
Pensions. The public sector employee pensions are simply out of control. The liabilities are bankrupting states and municipalities. I’m not entirely against pensions (I actually have a modest one). The small (16k) city I live in, has a $10 million pension liability. Maintenance workers are eligible after 10 years employment with fully paid healthcare benefits including family members.
I work in local government in NC. It take 30 years to get the full pension. I pay 6% and the city pays 6 to 12%. It is paid by the state not the city. No health insurance. If you leave you can get your money back with 4% interest, but you don't get the money from what the city paid on your behalf. Sounds like the Northeast, because I don't see that happening in the Southeast.
@@autohelix You forgot to mention most government workers don't pay social security. I was hired at 23 out of college and did not pay enough into Soc Security to qualify for the future. A pension is all I have. In my state we pay 10% and the State pays 14% I hit 30 years this summer and can retire at 55 with 32 years with 70% of my top 5 years. I know I am extremely fortunate, but being a public employee means you give up a lot compared to the private sector- no bonuses, no expense account, no car, minimal raises no, free stuff etc. If pensions are taken away, then public and private jobs need parity. Pensions are about the only benefit that makes public jobs desirable now.
@@skoprowski I do pay social security. I would not recommend it if you do not pay into Social Security that is a complete fail on the decision that those States made. I do blue collar work a lot of those perks that you mentioned I wouldn't get any way. My wife is a registered nurse case manager for a very large corporation she also doesn't get any of those perks . I average about a 3% pay increase every year. I actually got 3.5% this year. So did I really forget to mention anything no. I can't factor in everyone else's situation. In my state NC we do pay into Social Security.
if you want to look cool and fit while avoiding JCREW (not cool :) ), Prana & Patagonia & REI and Arcterix (for filthy rich of us :) ) will do It for you. Take it from 50+ year old. Yet again I also rock climb a lot so fitness is sort of pre-req in my case...
10:25 What?? Is Scott finally admitting he's had his head up his a** on the global energy transition? I love this show, but there are so many basic facts on energy, EVs, and renewables that Scott just gets fundamentally wrong. As an expert and practitioner in this space, it's frustrating to hear. Maybe this is a sign of progress?
Lol Scott has the predictable bias and bias control of a 12 yr old. He "LOVES" Chipotle. "Dislikes" McDonald's. And thinks tesla cars are "not good". For the simple fact that they disagree with him politically. He has the self awareness of a potato.😂
A joke for when the doctor starts the colonoscopy procedure: In a whimpering childlike voice you say, "But Father McMurphy, I don't want to be an altar boy"!
![[MV] A leap of faith...ความเชื่อใจครั้งสุดท้าย (From "Petrichor the series")](http://i.ytimg.com/vi/U1piZH2CNXA/mqdefault.jpg)
I appreicate that despite Scott's position in Shien, Ed had the freedom and space to speak his mind with a differing opinion on the company and its outlook. Nice to see the pod maintains a level of transparency and integrity despite its growth
Lol do you think ed REALLY agrees with all the other silly things scott agrees and disagrees with? Ed is only able to speak his ACTUAL OPINION on stuff that doesn't hurt scott in the squishy Feely areas. Ed is a really smart kid. Scott has some REALLY silly/naive highscool kid caliber opinions and biases. There is NO WAY a kid as smart and business savvy as Ed ONLY disagrees with THAT Lol. Ed has too much critical thinking abilities to blindly choose and form opinions/decisions based on the political affiliations of the topic at hand. Lol. I'd go nuts having to pretend to be naive daily if I were ed.
@@tigreytigrey8537 This Ed knows nothing about the subjects mentioned in this show. He definitely never bought from Shein. He absolutely never used Perplexity. Everything is his 'gut' feeling which is just wrong. "Google has the best search product". Dead wrong. Also if raising multiple rounds in a year was not a issue for the investors then it was not a issue at all. It is amazing how little he knows for how confident he appears.
This was a charming episode. The love and respect was on display. Makes me wish I'd had a Prof G in my life when I was starting out. 💙
I always appreciate Ed’s perspective. One thing I wanna add, when he was comparing the contemporary housing situation to that of the 1980s; when considering down payment. It is a much different situation.. whereas the total cost of ownership may be proportional, the barrier to entry is much more challenging due to the higher down payment required for today’s market.
To add some numbers, the median down payment in 1981 was 30%, while it is 8% today. So the percentage of home value being financed has gone up 31%.
A median household buying a median priced home at 19% in 1980 was paying 41% of gross income for their mortgage. The same household today at 7% interest (plus 1% PMI) is paying 42% of gross income on their mortgage.
So even considering it was easier to afford a larger down payment, it is still basically the same today as it was in the early 80s.
Everyone is upset because of how good things were from 2012-2020. That same median household buying a median home in 2012 was paying 24% of their gross income on their mortgage. When it was so good for nearly a decade it's hard to go back to how it was 40 years ago.
Unfortunately, Ed is no longer employed by the Prof G Media. Daddy got upset 😅
Scott, I think you should point out how to deal with catastrophic breaks in income (lay-off, divorce, sick parents, etc.) and how to deal with it. I was foolish enough to liquidate my 401K funds multiple times to deal with family events… most folks don’t know that they can go into personal bankruptcy while protecting their 401K funds… it’s not just about starting to save when young, but critical that you preserve what you put away, even in bankruptcy.
You should have at least 6 months of full income saved. 12 months would be better. Of course this is full income, so you should be able to make cuts and make it last longer.
@@autohelix Yes, that’s the generally accepted wisdom, but that wasn’t my point… folks that go through traumatic life changes frequently tap into their 401K, even if they had 12 months of living expenses saved up. Medical bankruptcy, meaning bankruptcy caused by excessive medical expenses is super common, but folks frequently go into bankruptcy AFTER they exhausted all 401K savings, which sets they up for long term failure. 401K funds are excluded from personal bankruptcy proceedings, but most folks don’t know what that.
@@ParoxysBrianW I don't understand people like that. My Wife has been through 2 big back surgerys. 3 kidney stone surgerys, and has quite a few health issues. I have been out of work 15 weeks over the last 2 years from my own surgerys. Do these people not have health insurance or what?
Wow. This comment was worth the scroll! Thanks!
I've literally used Perplexity 95% of the time & Google 5% of the time the last 3 months.
Wait, so Scott has a problem with Mc Donald’s, but his biggest holding is the environmental clusterphuk that is disposable fast fashion?
Do as she says not what she does 😮
Lol it's because McDonald's has republican history. It's LITERALLY THAT SIMPLE. He blindly sides with whatever aligns with his political views. Not because logic.
@@tigreytigrey8537 A Republican history? I've never been aware of that and don't know anyone who thinks like dat. I mean Clinton ate burgers Trump ate burgers.
@mrwilliamwonder well it doesn't suprise me that you don't notice much of anything using words like "dat" lol.
Scott said he’s trying to find a way to get exposure to the AI space but it’s tough because everything is private. Why doesn’t he just use Fundrise?
Lmaooooo
Live in OC California. We could buy a house, but my rent is half the mortgage payment and I can leave the down payment in the stock market (up 35% in the last 12 months.). We may never buy.
I had started my career in 1987 in a very small start up. Through subsequent acquisitions we were absorbed by a worldwide megacorp in late 1999 in which their benefits started in 2000 that included a pension plan which I imagine wasn't anywhere near as generous as the old timers had had because my "generation" of employees had a 401K plan in addition, where the company matched 100% of the first 3% employee contributions, and 50% of the next 3% of contributions. The aggravating thing is the company match was only in company stock...So after every paycheck I would go in and roll it over to the equivalent S&P500 index fund in the plan...When I was laid off in one of many large waves in early 2019 ( that is still continuing), I looked at the pension balance and what it would be when it started paying out at my age of 65, I was like "Nah, roll it out to an IRA". If memory serves correctly, there was no COLA for inflation on that pension anyway, and thinking how much that pension would be worth ~20 yrs later (at the time), it didn't make any sense to me...Plus I didn't really trust the company any longer at that point.
I remember home mortgage rates at 17% in early 1980s. It was impossible to buy a home, & impossible to sell one. No one could quantify!
I think the Chipotle E. coli outbreak wouldn't have been a big deal if there'd been only one. However, following the initial November, 2015 outbreak with a _second_ outbreak in December of that year was enough to damage the stock and etc. Fun fact: This wouldn't be as common if the US food supply was more diversified. IE, if they got things like lettuce from multiple locations across the US vs. one giant lettuce patch nestled next to a hog factory.
I really like Perplexity as a user. The answers are spot on. It is a good product and it is competitively priced (or was priced) at $200 per year
Day 40: Please bring on Gary Stevenson (Garys Economics)! Thanks!
Here’s the biggest issue with investing in SHEIN imo. It’s the fentanyl imports coming through on the back of the legislation that enables SHEIN to operate in the U.S. and I for one want that legislation repealed, because the fentanyl.
Agree with Ed about the troubling ethical standards of Shein. On the other hand, I spent over a decade predicting the day that Apple's business would finally suffer over their troubling supply chain...so, the "moral of the story".....never underestimate the American consumer's ability to look the other way when it comes to buying some new fashion statement or strut around with some prestige item or get a smoking great deal. And when you grasp that sad reality, you will also find answers to the mysterious support level for the Orange Menace...in spite of his naked criminality, racism, clear admiration and fealty towards Putin, and downright rudeness....some Americans just put all that shit in the backseat because of what they think that support for Trump says or illustrates about them. Sad....very sad.
I am curious about pension vs 401k. What makes senses depends on how close to retirement one is??
Since 2014 Boeing has spent $43.5B between 2014-2019 on stock buybacks. If the pension benefit had not been eliminated in 2014, the projected cost between 2014-2019 is projected to cost $16.7B. It is projected that cost to Boeing for reinstating the pension benefit would cost $1.6B per year. Boeing can afford the fixed pension benefit without question. Given the fact that the overwhelming majority of Boeings stock buyback efforts have been pissed away on the wind, returning the pension benefit to labor will at a minimum reduce the poor financial management Boeing has put forward over the past decade. #GoLabor
what the hell are you talking about eliminating the pension allowed a cheaper alternative in putting the risk onto the employees rather than sustaining a pension fund, why do you think all of corporate america is adopting it? the 43.5b is correct but where the hell are you getting the reduced cost of 16b for a more expensive traditional plan 😭 if anything they wouldve had worse financial management, the issue with boeing is the disconnect between executives from the production system, if you arent building shit from bad practices and focusing on customer demanded deadlines rather than their production system itself how the hell are you going to make money, what the hell are you talking about😂
Truly like Scott G. Big fan but investing in Shein is a disappointing move. The environmental impact of the production and shipping of garbage clothing like that is off the charts and not even raised here.
He's rich AF, he can make more morally sound decisions where he drops millions. Shein and Temu are not what the world needs.
I have a pension but 45% pay increase is wild
In a consumption based economy and society, knowing you have a monthly income after you retire would make you spend more now and save less for later since retirement is covered. Which arguably might be a reason for the crazy growth of the 70s-80s when more companies did this.
But now, companies are public and accountable to shareholders, they pay dividends instead of investing in their employees. A small number of private owners wouldn't care much if one year they profit say, 300M$ instead of 400M$, if the machine keeps churning.
A pension, "feels outdated". Well it works. A lot better than 401K's. Most companies no longer match 401k's which is exactly how they were designed. Bottom line not funding pensions and now 401K's is one more act of greed.
Off topic, but I heard you've been writing a book about masculinity. I'd encourage you to read "The Gates of Fire", by Steven Pressfield, if you haven't already. It'll catalyze your thoughts on the topic, especially considering what young men in todays day and age want/expect (of what they think they want), in contrast to what you claim they should be striving for...which I absolutely agree with.
Perplexity is the only AI I have found that can do a 2 to 3 step income tax calculation correctly.
Went on J crew website after the mention. Is just good will clothing at 10x prices. It’s interesting to learn Ed spends that kind of money on sweaters and jeans.
No one under 40 should be wasting money on a pension. Odds are slim they will ever see any of it.
Well I work in local government. I will see it.
Lol, there will be no government.@@autohelix
@@jackryan2135 you are very pessimistic. You are probably full of Doom and Gloom.
Yes i always thought why people compare home prices today vs pas and not mortgage.
32:45 that’s a misunderstanding of averages. The high birthrate and childhood mortality is what causes that average to be so low. If you were lucky enough to make it past childhood, you were likely to make it past your 35th birthday. The evolutionary selection from that mortality bottleneck was probably closer to younger pubic sexual maturity that comes before mental or physical maturity to keep the population from collapsing.
One of the biggest historical jumps in average life expectancy was after doctors started washing their hands during childbirth where the mother and child drastically increased their chance of survival. It’s not that people suddenly stopped dropping dead at 35 when that average went up.
That Perplexity segment was hilarious 😂
"Think about it...OpenAI is used in writing silly text; Perplexity is used for search. Who would you rather invest in?" Ed is a master analyst. The segment gets dumber from there. A masterclass... lol
28:40 the problem is that a defined contribution plan like that depends a lot on the stock market or Whatever financial instruments the account is invested in. If the market crashes, then you'll lose a lot, regardless of how much you contribute to your retirement account
Shein(and H&) are currently moving towards using polyester made from recycled bottles from India. While I cannot speak to their child labor practices I can say that they are actively working towards sustainable practices. Note: Using P.E.T. in clothing is not currently recyclable. In short, the fashion industry is changing monthly and all of that Shein (H&M) clothing cannot be recycled in a cost effective way. (Business Insider)
That opening joke ....took me so long, but I got it in the end :)
i still don't get it, can you explain please 🙏
@@Onlypoints_ He usually sleeps with the nanny :)
Scotts right about the aging thing.
Love the Panerai.
it took me a full 5 business seconds to get the opener
Have Gary’s economics on!
McDonald's started fixing their ice cream machines and doing a whole bunch of press management. Chipotle had shorts and hedge funds working against them to add fuel to the fire
15:14 Nothing important happened but I finally got the joke.
The chipotle card is the ultimate “Free to those who can afford it.”
DB pension plans unfortunately are largely gone. If any remaining its a union with some bargaining power or a seriously professional membership, not part time working dilitentes. DC has been the big one for quite a while. We're forced to do it or else pay up a higher income tax rate. Employers dont want liabilities. Not going to change ever
The Sam A voice was too funny
NYC is the wrong market to be thinking about buying a house. Renting is cheaper than buying. Use the savings to build your portfolio. Save 30% of your income.
I love jcrew:)
How the hell Scott got to invest into SHEIN pre IPO😲
Because he is very rich.
@autohelix he's probably around 200ish millions, I personally think it's the networking that probably opened the door to invest.
@@yamuiemata Im sure it has a lot to do with it.
Defined benefit versus defined contribution. Why not both ???? (if you have the option).
What's not mentioned here is the employee/ employer contributions
As someone who currently has both a DB and DC scheme.
my DB pension contributions are made up of the following
8% personal contribution
16% employer contribution.
Obviously adds up to an insane 24% 😮😮😮
And the big one that NOBODY MENTIONS....DB pensions increase in value by the rate of inflation on an ANNUAL BASIS (this is almost incomprehensibly valuable.... especially over the last few years ....for obvious reasons)
Now compare that to the LEGAL MINIMUM in the UK for DC pensions set up by employers, which is 8%, and that is made up of the following.
3% employer contribution
4% employee contribution
1% tax rebate (assuming you are in the 20% band)
All of a sudden, it's not hard to see why people throw around terms like "gold plated" pensions when they are referring to DB schemes.
This is definitely not an either / or scenario.
Use both financial instruments to your advantage.
Love your work gents 😊
Ask google what train to take from Rome airport to your hotel in Trastevere, and see who can answer the question. It makes no sense to ask google for an answer when you need an answer not options.
I have teenaged son, my favorite thing is being annoying and embarrassing him.
I'd just be myself and wouldn't even think of that. I've always done that and if you see those 10 and under liking it, then you're doing it right.
One day, in the distant future, your son is going to be picking out a nursing home for you. He can go with the really nice facility, or the filthy one that has complaints about the staff abusing the patients.
Wow, dude. You might cause trauma that will leave him emotionally a teen for life with faulty relationships, emotional immaturity/dysregulation and shame. 👍
@@stevechance150Who is paying for this?
10:30 - Scott : "It's not the revenue increase, it's the revenue mix" ... finally.
11:00 - Ed : "It's not an AI company" ... what do you think Tesla has been doing for many years with Self Driving? Why do you think it bought 100,000 Nvidia GPUs? Who will a big number of automakers (if they still exist) license their self driving software from?
And now cheaper Tesla models (cheaper to produce) will be releasing in 2025/2026 when there is a resurgence of EV demand.
Pensions. The public sector employee pensions are simply out of control. The liabilities are bankrupting states and municipalities. I’m not entirely against pensions (I actually have a modest one). The small (16k) city I live in, has a $10 million pension liability. Maintenance workers are eligible after 10 years employment with fully paid healthcare benefits including family members.
I work in local government in NC. It take 30 years to get the full pension. I pay 6% and the city pays 6 to 12%. It is paid by the state not the city. No health insurance. If you leave you can get your money back with 4% interest, but you don't get the money from what the city paid on your behalf. Sounds like the Northeast, because I don't see that happening in the Southeast.
@@autohelix You forgot to mention most government workers don't pay social security. I was hired at 23 out of college and did not pay enough into Soc Security to qualify for the future. A pension is all I have. In my state we pay 10% and the State pays 14% I hit 30 years this summer and can retire at 55 with 32 years with 70% of my top 5 years. I know I am extremely fortunate, but being a public employee means you give up a lot compared to the private sector- no bonuses, no expense account, no car, minimal raises no, free stuff etc. If pensions are taken away, then public and private jobs need parity. Pensions are about the only benefit that makes public jobs desirable now.
@@skoprowski I do pay social security. I would not recommend it if you do not pay into Social Security that is a complete fail on the decision that those States made. I do blue collar work a lot of those perks that you mentioned I wouldn't get any way. My wife is a registered nurse case manager for a very large corporation she also doesn't get any of those perks . I average about a 3% pay increase every year. I actually got 3.5% this year. So did I really forget to mention anything no. I can't factor in everyone else's situation. In my state NC we do pay into Social Security.
a set of 3 soft tacos were is $12.50.....rediculous......double taco bell and it just isn't twice as good
if you want to look cool and fit while avoiding JCREW (not cool :) ), Prana & Patagonia & REI and Arcterix (for filthy rich of us :) ) will do It for you. Take it from 50+ year old. Yet again I also rock climb a lot so fitness is sort of pre-req in my case...
Hey Ed, you boxing? I see shades under your makeup that look like shiners.
10:25 What?? Is Scott finally admitting he's had his head up his a** on the global energy transition? I love this show, but there are so many basic facts on energy, EVs, and renewables that Scott just gets fundamentally wrong. As an expert and practitioner in this space, it's frustrating to hear. Maybe this is a sign of progress?
So Socialism for House builders ?
Proof of the chipotle getta free meal card, otherwise it's bullshit 😂
Lol Scott has the predictable bias and bias control of a 12 yr old. He "LOVES" Chipotle. "Dislikes" McDonald's. And thinks tesla cars are "not good". For the simple fact that they disagree with him politically. He has the self awareness of a potato.😂
Houses are also too big now. started homes are wayyy bigger than they were back in the day. Bring back sub 1000 foot homes that people can afford.
Bad take RE: Boeing at the end of the pod. Culture, morale, and fitness of an org will overwhelm any market opportunity that presents itself.
Live to 100yrs Global warming excluded 😂
A joke for when the doctor starts the colonoscopy procedure: In a whimpering childlike voice you say, "But Father McMurphy, I don't want to be an altar boy"!
no
Chipotle? It's ultra-processed food made with vegetable seed oils, high fructose
what restaurant food isn't?
relax its not that bad
@crohmer it is bad, just look at health of people who's diet is ultra-processed foods
Maybe find a way to get Blackrock and similar investors buying up hundreds of thousands of homes and distorting the market
1st ❤
technically it's only 1st of you make a comment, so I'm afraid you lost by default on this one.
such a depressing Episode i stopped watching