Becker Business Podcast

Host: Scott Becker
Episode: 4 Stories We Are Following Today (10-8-25)
Date: October 8, 2025

Episode Overview

Scott Becker, host of Becker Business and the Becker Private Equity Podcast, delivers a brisk rundown of four major business stories catching his eye today. The episode focuses on market trends influenced by government movements, the ongoing federal shutdown, notable hedge fund strategies, and the intersecting investments of tech giants in artificial intelligence.

Key Discussion Points & Insights

1. Market Optimism & Federal Reserve Minutes

• Markets on the Rise:
  Scott opens with market optimism, noting upward momentum as investors await the latest Federal Reserve minutes. The expectation is that these minutes will shed light on interest rate direction and potentially signal how the government intends to tackle the ongoing shutdown and the resulting lack of economic data.

  Notable Quote:

  "First, the markets point up today as we wait Fed Reserve minutes to provide hints as to where the future's at on rates and also to discuss what's going on with the slowdown and the shutdown."
  — Scott Becker [00:14]

• Lack of Data:
  The current government shutdown hampers the flow of economic statistics, creating heightened market uncertainty but also anticipation for federal insights.

2. Federal Shutdown Impact on Workers

• Escalating Unpaid Workforce:
  Scott details the deepening effects of the shutdown, with a growing number of federal workers missing paychecks. What began with a few hundred thousand is expected to balloon into millions if not resolved.

  Notable Commentary:

  "Federal workers increasingly go unpaid as the shutdown continues. The first couple weeks just a couple hundred thousand employees, but millions will move in that direction."
  — Scott Becker [00:39]

• Political Calculus:
  He brings a candid tone to the political motivation behind the impasse, especially referencing the stance of President Trump:

  Memorable Moment:

  "I think President Trump used it as most federal employees are Democrats that don't vote for him. He probably doesn't care. But the fact that employees aren't getting paid will hopefully drive the President and the Democrats to get closer to solving the shutdown."
  — Scott Becker [00:53]

3. Hedge Fund Moves: CO2 Management

• Star Performer – Philippe LaFontaine & CO2 Management:
  Scott spotlights CO2 Management and its remarkable track record. Philippe LaFontaine, the billionaire portfolio manager, has led the fund to outperform the S&P 500 by an extraordinary 122 percentage points over three years.

  Personal Insight:

  "We are familiar because one of the kids' best best friends worked at CO2 for years. So I learned a lot about what a great firm and brilliant hedge fund it is."
  — Scott Becker [01:25]

• Recent Trades:
  CO2 sold roughly 600,000 shares of Amazon, shifting focus instead to CoreWeave—an AI stack backed by Nvidia—buying 3.3 million shares.

  Trend Observation:

  "Moving out of Amazon as it feels more like a retail stock than a technology stock increasingly and into CoreWeave and fasting to watch..."
  — Scott Becker [02:06]

• Performance Reflections:
  Scott candidly shares his wish to have invested in both CO2 Management and Opendoor Technologies, noting the latter is up 480% year to date.

4. Nvidia, AI, and Tech Giants’ Cross-Investments

• Nvidia’s Strategic AI Investments:
  Nvidia's latest move involves investing in Elon Musk's xAI, highlighting a trend where Nvidia and OpenAI are funding a wide array of AI ventures.

  Highlight Quote:

  "It seems that between Nvidia and OpenAI that these two companies will be cross invested in almost everything. Just absolutely fascinating to watch."
  — Scott Becker [02:38]

Most Memorable Moments & Notable Quotes

• On Government Data Dearth:

  "...the government shutdown in the dearth of data just fasting."
  — Scott Becker [00:20]

• On AI Investing Landscape:

  "...between Nvidia and OpenAI...these two companies will be cross invested in almost everything."
  — Scott Becker [02:38]

Important Timestamps

• [00:14] – Markets up; anticipation for Fed Reserve minutes
• [00:39] – Federal workers unpaid; shutdown escalates
• [01:25] – CO2 Management’s success and Scott’s personal connection
• [02:06] – Amazon to CoreWeave: shifts in investment strategy
• [02:38] – Nvidia’s investment in xAI and AI investment landscape observations

Tone & Closing

Scott maintains a conversational, incisive, and slightly irreverent tone, sharing both expert insight and personal reflections, making business news accessible and engaging. The episode closes with Scott's customary gratitude to listeners and his producer, reflecting his community-driven approach.

For listeners who missed the episode:
This summary captures Scott Becker’s sharp take on today's pivotal market and business developments, covering finance, policy, and technology with memorable commentary and practical insight.