Prof G Markets

Scott and Ed discuss the market’s reaction to Trump’s drug pricing plan, Perplexity’s latest funding round, and Coinbase’s addition to the S&P 500. Then Alice Han, China economist and director at Greenmantle, returns to the show to break down how China views the ongoing trade war. She unpacks the current state of U.S.-China negotiations and why a deal remains elusive. Plus, she weighs in on which country she’s more bullish on in the long run. Subscribe to the Prof G Markets newsletter [https://www.profgmarkets.com/subscribe]  Order "The Algebra of Wealth," [https://a.co/d/bMY25GC] out now Subscribe to No Mercy / No Malice [https://www.profgalloway.com/] Follow the podcast across socials @profgpod: * Instagram [https://www.instagram.com/profgpod/] * Threads [https://www.threads.net/@profgpod] * X [https://twitter.com/ProfGPod] * Reddit [https://www.reddit.com/user/profgpod/] Follow Scott on Instagram [https://www.instagram.com/profgalloway/?hl=en] Follow Ed on Instagram [https://www.instagram.com/ed_elson_/] and X [https://x.com/edels0n?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor] Learn more about your ad choices. Visit podcastchoices.com/adchoices [https://podcastchoices.com/adchoices]

Scott and Ed discuss Trump’s new trade framework with the U.K., the Federal Reserve’s latest decision, and the Melania coin grift. Then they take a look at Apple’s potential move to replace Google as Safari’s default search engine, unpacking the ripple effects on Google’s stock. Ed lays out his case for why the company is deeply undervalued. Finally, they break down Uber’s latest earnings and explain why certain societal factors make them particularly optimistic about the company’s future. Subscribe to the Prof G Markets newsletter [https://www.profgmarkets.com/subscribe]  Order "The Algebra of Wealth," [https://a.co/d/bMY25GC] out now Subscribe to No Mercy / No Malice [https://www.profgalloway.com/] Follow the podcast across socials @profgpod: * Instagram [https://www.instagram.com/profgpod/] * Threads [https://www.threads.net/@profgpod] * X [https://twitter.com/ProfGPod] * Reddit [https://www.reddit.com/user/profgpod/] Follow Scott on Instagram [https://www.instagram.com/profgalloway/?hl=en] Follow Ed on Instagram [https://www.instagram.com/ed_elson_/] and X [https://x.com/edels0n?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor] Learn more about your ad choices. Visit podcastchoices.com/adchoices [https://podcastchoices.com/adchoices]

Scott and Ed discuss Trump’s tariffs on films produced outside the U.S., OpenAI scrapping its plans to become a for-profit company, and Warren Buffett’s decision to step down as CEO of Berkshire Hathaway. Then Michael Cembalest, the Chairman of Market and Investment Strategy for JPMorgan Asset & Wealth Management, joins the show to unpack how macroeconomic shifts are shaping his investment outlook. He discusses whether current conditions point to looming stagflation, offers practical advice for navigating today’s volatility, and shares why he’s still optimistic that markets could normalize.  Subscribe to the Prof G Markets newsletter [https://www.profgmarkets.com/subscribe]  Order "The Algebra of Wealth," [https://a.co/d/bMY25GC] out now Subscribe to No Mercy / No Malice [https://www.profgalloway.com/] Follow the podcast across socials @profgpod: * Instagram [https://www.instagram.com/profgpod/] * Threads [https://www.threads.net/@profgpod] * X [https://twitter.com/ProfGPod] * Reddit [https://www.reddit.com/user/profgpod/] Follow Scott on Instagram [https://www.instagram.com/profgalloway/?hl=en] Follow Ed on Instagram [https://www.instagram.com/ed_elson_/] and X [https://x.com/edels0n?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor] Learn more about your ad choices. Visit podcastchoices.com/adchoices [https://podcastchoices.com/adchoices]

Scott and Ed discuss the latest U.S. GDP report, new data on China’s factory activity, and the launch of Amazon’s new internet satellites. Then they turn to Big Tech earnings, breaking down first quarter results from Apple, Amazon, Microsoft, and Meta. Finally, they examine the Trump administration’s decision to resume forced collections on defaulted student loans, discussing the broader implications and potential solutions for addressing student debt. Subscribe to the Prof G Markets newsletter [https://www.profgmarkets.com/subscribe]  Order "The Algebra of Wealth," [https://a.co/d/bMY25GC] out now Subscribe to No Mercy / No Malice [https://www.profgalloway.com/] Follow the podcast across socials @profgpod: * Instagram [https://www.instagram.com/profgpod/] * Threads [https://www.threads.net/@profgpod] * X [https://twitter.com/ProfGPod] * Reddit [https://www.reddit.com/user/profgpod/] Follow Scott on Instagram [https://www.instagram.com/profgalloway/?hl=en] Follow Ed on Instagram [https://www.instagram.com/ed_elson_/] and X [https://x.com/edels0n?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor] Learn more about your ad choices. Visit podcastchoices.com/adchoices [https://podcastchoices.com/adchoices]

Scott and Ed discuss Huawei’s new challenge to Nvidia, Apple shifting U.S. iPhone production from China to India, and Spotify’s Q1 earnings report. Then Mark Mahaney, senior managing director and head of internet research at Evercore, returns to the show to share his top internet stock picks. He explains why he believes Google is the cheapest of big tech, highlights the strategic value of Waymo, and offers his insights on Uber. He also breaks down what’s driving market enthusiasm around Netflix and Spotify. Subscribe to the Prof G Markets newsletter [https://www.profgmarkets.com/subscribe]  Order "The Algebra of Wealth," [https://a.co/d/bMY25GC] out now Subscribe to No Mercy / No Malice [https://www.profgalloway.com/] Follow the podcast across socials @profgpod: * Instagram [https://www.instagram.com/profgpod/] * Threads [https://www.threads.net/@profgpod] * X [https://twitter.com/ProfGPod] * Reddit [https://www.reddit.com/user/profgpod/] Follow Scott on Instagram [https://www.instagram.com/profgalloway/?hl=en] Follow Ed on Instagram [https://www.instagram.com/ed_elson_/] and X [https://x.com/edels0n?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor] Learn more about your ad choices. Visit podcastchoices.com/adchoices [https://podcastchoices.com/adchoices]