Why Stocks Corrected + Second Quarter Tech Earnings — ft. Mark Mahaney | Prof G Markets

This week on Prof G Markets, Scott and Ed open the show by discussing the global sell-off, Berkshire Hathaway’s portfolio management, and Intel’s terrible earnings. Then Mark Mahaney, senior managing director and head of internet research at Evercore, joins the show to discuss why the market’s freakout is an opportunity, not a crisis. He also shares how recent tech earnings are sending signals that we’re headed for a soft landing, not a recession. Finally, he identifies a couple small and mid-sized companies he thinks could be destined for mega-cap status.

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Timestamps:
00:00 - Today's number
00:24 - Today's episode
01:22 - Headlines
15:47 - Why Stocks Corrected + Second Quarter Tech Earnings — ft. Mark Mahaney
15:59 - What are your thoughts on Monday’s global market volatility?
18:12 - How concerned should investors be about a potential recession, given recent job market reports?
20:35 - Is the market’s downturn due to issues in the AI sector, despite strong earnings and sales growth?
24:22 - What is the general sentiment on Wall Street regarding ROAI (Return on Artificial Intelligence)?
26:12 - What are your thoughts on Snap, Inc.?
30:47 - What are your thoughts on Uber Technologies, Inc. and Lyft?
33:49 - Do you see any second order beneficiaries of the AI boom?
37:02 - What are your strongest buys right now?
39:36 - What advice do you have for young investors?
43:29 - Algebra of Wealth

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Headlines:
Dow tumbles 1,000 points, S&P 500 posts worst day since 2022 in global market sell-off

Warren Buffett’s Berkshire Hathaway Slashes Apple Stake

Chipmaker Intel to cut 15,000 jobs as tries to revive its business and compete with rivals

#business #news #tech #finance #stockmarket #profg #scottgalloway #profgmarkets #ai #earnings #stocks #investmentstrategies #investment #investing #uber #snapchat #recession #economy #AlgebraofWealth

[JoeCoIIar]

To be kinda blunt, I am giving up on investing in stocks… I put in between 4000 to 5000 a month and it’s been nothing but down down down…. SOOO frustrating, and I only invest in boring companies.

[IrnBruNYC]

Give Ed a raise, he is so good at this job.

[senorclouds]

Fascinating listening to Mark Mahaney. Love that basket of companies for measuring spending and the analogy of broadband and app development as a cheap way for today's app companies to benefit from Ai.

[harw_]

Mark Mahaney is the best in the business when it comes to internet stocks

[YelenaPetrogalis-svmn]

Excellent podcast. Valuable content and great delivery. Thank you, both!

[dannytran]

just discovered this show. i love the UK dude, always very clear and concise. the other dude scott I believe, has a pretty straight-forward attitude that I think I need to grow to like, but will love once I watch this show a few more times. Thanks!

[gassman]

I have followed Mark’s advice for several years and read his book “Nothing but Net”. Sound analysis and I get the feeling his comments are genuine. Do your homework but he does point you in the right direction

[AkshayBhaskar]

Best guest so far. Fascinating episode! Thanks guys!

[dandeclerck]

Intel has been running on intertia since 2014 -former employee

[donutrock]

I am a young person who has recently been in a good financial situation to start investing this year. I have bought some books watched a lot of videos. There is a lot of noise about what you should do and not do and its hard to know what is best. I appreciate this podcast for the information given and topics it covers.

[llundber]

Duolingo is the worst stock to pick up now.
Millennials and GenZ hate it.
I as Gen X hate it.
It doesn’t teach you to be conversational, which is the reason why most people use the apps.
It’s akin to thinking your kid is going to be drafted into the NBA after solely playing basketball video games.

[haydenr]

Loved the focus on products enhanced by AI and identifying those companies. Now’s a great time to have some cash set aside and start deploying.

[Synthminator]

V nice, really liked Mark's takes!!

[rachaelreczenski]

I've been thinking it. Glad I'm in good company.

[yamuiemata]

Finally a PG13 safe joke from Scott to start the episode 😂

[pravinpolls]

Hi Ed and Scott, . Great show.. Loved the daddy joke. I really love the content and insights..Please arrange for an AMA or get curated questions from your viewers for one show. All of us would love to get your opinion.

[arleneallen]

One other point that, for myself, is an Intel red flag, is the general acceptance of TSMC being more advanced on a permanent basis. I don't comprehend how Intel management is comfortable with being a second stringer.

[SCHDSTAN]

Your guest’s voice sounds like Jeff Goldblum😎

[kasmstamps]

44:10 yes. We got a break in 2008-9 (that was a crash).
Bought 20 distressed companies.
6 fell over
6 were so so
6 were good
1 was really good
1 over 15 years paid for the entire initial investment.

This year reallocated and much more concentrated in conviction companies with zero leverage (just as well as no income at the moment). Investing in disruption😉

[samyueldanyo]

Ed, Intel cuts capex mainly on the foundry side, not “AI” RnD. The general direction is true - Intel is a disaster for many different reasons. It is sad to see such an important company mismanaged for decade+