Transcript
A (0:00)
This is Scott Becker with the Becker Business in the Becker Private Equity Podcast. These are for the quick stories that we're following today. We hope you enjoy this and thank you for listening. First, on the the end of the government shutdown. The markets are getting crushed today. I think just concerns about money that's been going out to people in the form of subsidies and other types of things that might not be available and just having a huge overhang on the markets day as people are a little bit scared of that. Again, the markets are way down today, but they're still up. The S and P still up about 15% year to date. The Nasdaq's still about 19% year to date. We'll see how that goes. Second, the hugest private AI companies, OpenAI and Anthropic, are seeing tremendous losses. They're private. They're spending a lot of money and trying to grow. They're spending a lot of money with the big tech companies buying stuff, making commitments. There is a concern that if those commitments don't fear fruit don't come out, that that'll have a very negative impact on some of the magnificent seven tech firms. Great article at the Wall Street Journal. Big tax soaring profits have an ugly underside, essentially open AI's losses. I think what we could hope for from a business perspective is that Sam Alt Altman, the founder of OpenAI, does not become the AI version of Sam Bankman Fried. Third Disney Co. Also getting crushed today, down about 8 to 10%. Bob Iger closing in on a second retirement. What a fascinating character he is. They missed on revenue and their income is falling. The fourth thing I'll note is two of the stocks that I've invested in through a hedge fund investment got killed yesterday, Circle and Astero Labs. I always joke, how do you know a stock is down? Well, that I own it again. Those are four of the stories that following today. Thank you for listening to the Becker Business and the Becker Private Equity podcast. Thank you very much for joining us.
