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The Prof G Pod with Scott Galloway

Prof G Markets: Twitter’s Rebrand to X, Mattel’s IP Playbook, and What’s Next for Snap

Mon Jul 31 2023
Compliance automationInsurance coverage denialSorority recruitment consultantsTwitter rebrandMarket reviewMinimum wageFederal ReserveBarbie movie successSnap's mixed results

Description

Support for PropG comes from Vanta. Insurance company's pharmacy benefit manager denies coverage. Parents paying sorority recruitment consultants. Twitter's disastrous rebrand and market updates. Market review and headlines. Minimum wage and the WGA strike. Federal Reserve and the Goldilocks economy. Barbie movie success and Snap's mixed results.

Insights

Vanta automates compliance work

Vanta automates up to 90% of compliance work and saves up to 85% of costs.

Listeners can get $1000 off Vanta

Listeners of PropG can get $1000 off Vanta when they go to vanta.com/props.

Insurance company denies coverage for medicine

Insurance company's pharmacy benefit manager denies coverage for medicine. Visit phrama.org/mittalmen to learn more.

Parents paying sorority recruitment consultants

Parents are paying sorority recruitment consultants to help their daughters get into sororities.

Twitter rebrands to "X"

Twitter rebrands to "X" and faces backlash.

META posts double-digit revenue growth

META posted double-digit revenue growth for the first time since the end of 2021.

Google beats expectations for revenue and earnings per share

Google beat expectations for revenue and earnings per share. It also posted its second consecutive quarterly profit for its cloud unit and showed strength in its core search business.

Microsoft's stock falls on slower cloud business growth

Microsoft's stock fell 4% on news that revenue growth in its cloud business slowed quarter over quarter by 1%.

Federal Reserve raises interest rates

The Federal Reserve raised interest rates by another 25 basis points, bringing the federal funds rate to a 22-year high.

Barbie movie becomes a hit

The Barbie movie becomes a hit, boosting Mattel's stock.

Chapters

  1. Support for PropG comes from Vanta
  2. Insurance company's pharmacy benefit manager denies coverage
  3. Sorority recruitment consultants and pumpkin spice latte
  4. Twitter's disastrous rebrand and market updates
  5. Market review and headlines
  6. Minimum wage and the WGA strike
  7. Federal Reserve and the Goldilocks economy
  8. Barbie movie success and Snap's mixed results
Summary
Transcript

Support for PropG comes from Vanta

00:01 - 00:29

  • Vanta automates up to 90% of compliance work and saves you up to 85% of costs
  • Listeners of PropG can get $1000 off Vanta when they go to vanta.com/props

Insurance company's pharmacy benefit manager denies coverage

00:44 - 01:04

  • Insurance company's pharmacy benefit manager denies coverage for medicine
  • Visit phrama.org/mittalmen to learn more

Sorority recruitment consultants and pumpkin spice latte

01:07 - 01:31

  • Parents are paying sorority recruitment consultants to help their daughters get into sororities
  • What grows when you plant a pumpkin spice latte and water it with vodka? A sorority.

Twitter's disastrous rebrand and market updates

01:34 - 02:21

  • Twitter rebrands to "X" and faces backlash
  • PropG Markets discusses Twitter's rebrand, Spotify and Snap earnings, and market vitals

Market review and headlines

02:28 - 03:49

  • S&P 500 gained about 5% in July, dollar fell around 1%, Bitcoin dropped 4%, yield on 10-year treasuries gained 4%
  • META posted double-digit revenue growth, Google beat expectations for revenue and earnings per share, Microsoft's stock fell 4%
  • Federal Reserve raised interest rates, UPS and Teamsters Union reached a tentative agreement for a new contract

Minimum wage and the WGA strike

04:11 - 05:56

  • Discussion on minimum wage and the WGA strike
  • The demands of the riders include limits on the use of AI by the studios and a certain number for riders in every rider room

Federal Reserve and the Goldilocks economy

06:20 - 07:40

  • Discussion on the Federal Reserve and the Goldilocks economy
  • Our economy is the strongest in the world, GDP growth has been consistent, inflation has come down

Barbie movie success and Snap's mixed results

23:26 - 35:03

  • Barbie movie becomes a hit, Mattel's stock rises
  • Snap reports decline in quarterly sales, struggles to compete with big tech monopolies
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