Podcast Summary: The Rundown – Disney's Cable TV Biz Dents Profits, Firefly Surges on Plan to Resume Rocket Launch

Host: Zaid Admani
Date: November 13, 2025
Duration: ~10 minutes

Episode Overview

In this compact market update, Zaid Admani covers the aftermath of the government shutdown, mixed tech and blue-chip stock movement, and key earnings from Disney, Cisco, and FanDuel (Flutter). The episode highlights industry shifts – from traditional media to streaming and data center expansion in AI, to breakthroughs in autonomous driving and space launches.

Key Discussion Points & Insights

1. Stock Market Recap (00:30–02:00)

• S&P 500: Flat performance, Nasdaq down 0.3%
• Dow Jones: Hits record highs, but Zaid stresses its lack of relevance:

  “Nobody should care about the Dow. Long time listeners know I’m a big time Dow hater. … It’s a boomer index that isn’t representative of the overall [market].” — Zaid (01:10)

• Big Tech Slide: Meta, Google, Amazon, Tesla, Oracle down 2–3%. Rotation away from big tech continues.

2. Government Shutdown Resolution & Data Concerns (02:00–03:45)

• Shutdown ends after 43 days; government funded through January via a bill signed by President Trump.
• Loss of critical economic data:

  “The shutdown may have permanently damaged the federal statistical system with the October CPI and jobs report likely never being released.” — Zaid (02:50)

• BLS intends to attempt data restoration; uncertainty remains about October jobs and inflation reports.

3. Disney Earnings Breakdown (03:45–06:15)

• Headline: Disney delivers mixed results; beats on profit, misses on revenue.
• Traditional Cable TV Struggles: 21% profit decline in legacy TV unit.
• Film Division: Underperforms due to less successful releases compared to hits like Inside Out 2 and Deadpool & Wolverine.
• Streaming & Parks Shine:
  • Streaming operating income up 39% YoY, mostly from price hikes.
  • Disney+ adds 3.8M subs (now 132M); Hulu reaches 64M.
  • Notably, Disney to stop reporting sub numbers in future earnings, adopting a Netflix-like approach.
  • Experience division (parks/cruises) profits up 13%—strong demand despite higher prices.
• Upcoming Films & Expenses:
  • Zootopia 2 and an Avatar sequel due this quarter.
  • $400M in earnings expected to be cut by movie-related expenses.
• Sports Rights Battle: Distribution fight with YouTube TV disrupting ESPN access for sports fans.

  “That’s been extremely annoying for sports fans like me because I can’t watch ESPN. But let’s hope they figure that out.” — Zaid (06:05)

• Disney stock down 8% at time of recording.

4. Anthropic’s Data Center Expansion (06:15–07:30)

• Expansion Plan: $50B investment in custom data centers in NY and TX with FluidStack; operational from 2026.
• Existing Infrastructure: $11B dedicated center in Indiana (Amazon partnership).
• Growth: Business now serves over 300,000 businesses; run-rate revenue jumps to $7B from $1B early in the year.
• Industry Context: Global AI/data center infrastructure spending projected at $5 trillion over 5 years.

  “Anthropic’s business has been growing fast … and they’re trying to get their hands on as much data center capacity as they can get.” — Zaid (07:10)

5. Cisco Earnings & AI Boom Impact (07:30–08:10)

• Shares up 5% on earnings beat and positive outlook.
• Revenue up 8% YoY; core networking business up 15%.
• AI Infrastructure Tailwinds: $1.3B in hyperscaler AI orders.
• Four straight quarters of revenue growth, recovering from previous declines.

  “Cisco said their relevance in AI continues to build and they lifted their full year outlook … Investors loved it.” — Zaid (08:00)

6. Firefly Aerospace Comeback (08:10–08:45)

• Shares jump 20%+ after announcement to resume Alpha rocket launches by year’s end.
• Previous flights halted after a September explosion; issues resolved with added inspections and abort systems.
• Background: IPO’d in August, shares still down 60% from peak. Positioning as SpaceX rival.

7. Flutter/FanDuel Profit Challenge & Prediction Market Arms Race (08:45–09:45)

• Shares fall 4% after cutting full-year profits.
• Main cause: bettors are winning more, increasing payouts and shrinking margins.
• Rising Competition: Prediction market platforms (Kalshi, Polymarket) skirt regulations; Kalshi reaches $1B/week in sports betting volume.
• Flutter’s Counterattack: Launching ‘FanDuel Predict’ with CME Group; anticipated investment to hit profits by $40–$50M (this quarter) and $200–$300M (next year).

  “The opportunity here is huge, but it’s also going to be expensive to build out.” — Zaid (09:30)

8. Waymo’s Highway Milestone (09:45–10:10)

• Breakthrough: Waymo to start driverless rides on highways in LA, Phoenix, San Francisco.
• Significance: First time moving beyond surface streets; higher speeds and bigger risks.

  “Honestly, people drive like maniacs on the highway. At least here in Houston, which is like 80% highway. So shout out to the Waymo team.” — Zaid (09:55)

Notable Quotes & Memorable Moments

• On the Dow:

  “It’s a boomer index that isn’t representative of the overall.” — Zaid (01:12)

• On government data loss:

  “The shutdown may have permanently damaged the federal statistical system...” (02:50)

• On Disney's streaming and experience strength:

  “Disney says that demand for cruises and parks have been holding up despite higher prices.” (05:35)

• On sports TV frustration:

  “It’s been extremely annoying for sports fans like me because I can’t watch ESPN.” (06:05)

• On the scale of AI infrastructure:

  “JP Morgan estimates that global spending on data centers, AI infrastructure, and the power to support all of it will exceed $5 trillion over the next five years.” (07:28)

• On FanDuel's profit drop:

  “Apparently betters on FanDuel keep winning, which means Flutter has to send out a higher payout, which is eating into their margins.” (09:00)

• On driverless cars:

  “Now I’m just waiting for Waymos to launch in Houston so I never have to drive again.” (10:07)

Timeline of Important Segments

| Timestamp | Topic | |:----------:|-----------------------------------------------| | 00:30–02:00 | Market recap, Dow critique, big tech losses | | 02:00–03:45 | End of government shutdown & data impacts | | 03:45–06:15 | Disney earnings: Cable losses, streaming, parks | | 06:15–07:30 | Anthropic’s $50B data center expansion | | 07:30–08:10 | Cisco earnings & AI orders | | 08:10–08:45 | Firefly Aerospace relaunch news | | 08:45–09:45 | Flutter/FanDuel woes, prediction market battle | | 09:45–10:10 | Waymo’s driverless highway rides |

Conclusion

Zaid Admani delivers a brisk, witty, and insight-packed news episode – covering the increasing divergence between legacy and new-economy companies, the long-term effects of government dysfunction on economic measurement, and both the promise and disruption unfolding in AI, space, and automotive tech. The episode’s style is candid and informative while highlighting how investors can interpret these fast-moving changes.