Transcript
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This is Scott Becker with the Becker Business Podcast. Here are three stories that we're going to be following today. First is the scary reason the rideshare companies are surging. So Uber's up 50% year to date. Lyft is up 22% year to date. Tesla is rebounding for a similar reason. Each company increasingly sees a future with cars but not drivers. Well, there may be no way around this. This is going to be ultimately good for their bottom line because they'll get big rid of one of their biggest expenses, which is the labor expense and sharing money with the drivers. But this may be good for them. But this is very scary for all those people that sort of rely on these jobs that are somewhat safety net jobs. So sort of a scary reason why we see all the ride sharing companies and Tesla surging. Second, fascinating story here. And again I'll say that no one saw this coming. Apple is the worst performing of the magnificent seven year to date. It's down 20% year to date. Tesla's down 15%. I'll just give you a quick rundown of the seven Alphabet. Google's down 12%. Amazon down 3%. Microsoft up 16%. Meta platforms. Facebook the best performing up 20%. Nvidia up 9.5%. So that's the second story we're following today. The rideshare companies in the Magnificent seven and Apple being last in the Magnificent seven. I don't remember the last time that's happened. Third, we'll talk a little bit and we talked about a little bit about this yesterday. The ups and downs of being a white collar young professional. There was a period of time during COVID and the end of COVID where the white collar job market was soaking up jobs so fully that it was really an employee's market. Now we see big accounting and consulting firms get much tougher on young, outstanding and talented people. This is shocking to many that have been doing good to great work, doing what they thought was expected of them and also the kind of that always got great grades and can't believe they're ever not achieving at something. It's a vast reminder and really a kick in the butt, a kick in the face that you can't just be good at what you do, you have to be great. And unfortunately, the higher the paying the job, the less replaceable the job is in, the more that you better be obsessed with greatness in adding value. How can you be a beast at what you do? To use common parlance, how can you be in Jack Welch's old words first or second in your market or one of the best at what you do. Thank you for listening to the Becker Business and Becker Private Equity Podcast. Thank you very, very.
