Intro
In this episode of the PBD Podcast, the hosts cover a wide range of news stories, including the GOP debate, the Gaza conflict, and the rise of Elon Musk’s brain chips. They also discuss controversial topics such as Bernie Sanders rejecting calls for a ceasefire in Israel and Hamas, and the US planning to send $320 million worth of weapons transfer to Israel. The podcast is sponsored by Michael Burry, who recently bet $.6 billion against the market, and Masterworks, an alternative asset investment platform. They also delve into Joe Rogan’s exclusive licensing deal with Spotify and the potential future plans for his podcast. Additionally, they discuss the increasing number of 401k hardship withdrawals due to high inflation and the concerns about housing affordability. The hosts also touch on topics such as remote work, the debate over increasing work hours in India, and the ethical implications of Neuralink’s brain chips.
Main Takeaways
News Stories and Controversial Topics
- The podcast hosts discuss various news stories, including the GOP debate, Gaza conflict, and the rise of Elon Musk’s brain chips.
- Some controversial topics are discussed, such as Bernie Sanders rejecting calls for a ceasefire in Israel and Hamas, and the US planning to send $320 million worth of weapons transfer to Israel.
- The hosts also mention a CNBC story about Gaza being referred to as a “children’s graveyard.”
- Other topics include Joe Rogan’s prediction of weakening prices, millennials not having enough kids, and WeWork filing for bankruptcy.
Joe Rogan and Spotify
- The podcast is sponsored by Michael Burry, who recently bet $.6 billion against the market.
- The podcast is sponsored by Masterworks, an alternative asset investment platform that allows people to invest in art pieces or fractions of them.
- Joe Rogan’s exclusive licensing deal with Spotify, which paid him $200 million in 2020, is set to expire and he’s considering his options.
- Industry experts acknowledge Rogan’s advantageous position and the dilemma Spotify faces in either keeping him and paying him as much or more than before or losing their biggest property and source of sales within the ad business.
- Rogan has several potential plans forward, including establishing his own media company or collaborating with his friend Elon Musk, who acquired the social media platform X for $44 billion.
- Spotify had a good quarter after the layoffs early in the year and after they didn’t renew some of their contracts, proving that they may not necessarily need Rogan to sustain their business.
401k Hardship Withdrawals and Housing Affordability
- 401k hardship withdrawals are increasing due to high inflation, with 18,040 workers making such withdrawals in a 3-month period.
- Hardship withdrawals allow individuals to access their 401k funds for immediate financial needs, but are subject to income tax and potential penalties.
- Americans are withdrawing an average of $5,070 from their 401k, similar to previous quarters.
- High inflation is causing Americans to resort to credit cards and home equity line of credits, which is a sign of expensive living and desperation.
- Transportation companies are experiencing a 70% drop in revenue, indicating a potential economic downturn.
- Taking money out of a 401k is a stupid financial move as it is meant for retirement.
- Only 50% of Americans are invested in the stock market, and investing is necessary for financial growth.
- Social security and pensions are not enough for retirement, personal savings and investments are necessary.
- Withdrawing from a 401k early incurs a 10% withdrawal fee and loses the benefits of compound interest.
- Personal savings and long-term investments like 401k, Roth IRA, mutual funds, index funds, and ETFs are recommended for retirement.
- However, some Americans may be desperate and have no other option but to withdraw from their 401k, potentially selling at a market low.
- Biden’s approval rating has fallen to the lowest since April, with concerns about war and foreign conflict, the economy, crime, and the environment.
- Housing affordability is at a 39-year low, with mortgage rates dropping but still a concern for many.
- Monthly principal and interest payments on a median price home reached a record high in October, exceeding $2,500 for the first time.
- Rising affordability pressure is not solely due to high interest rates but also reflects a price-to-income ratio of nearly six to one.
- To restore housing affordability, one of three conditions must be met: a 4.4% point drop in mortgage rates, a 62% increase in median household income, or a 38% decline in home prices.
- The decline in prices requires more homes for sale, and the number of homes for sale needs to almost double to bring prices down.
Joe Rogan and Future Plans
- Joe Rogan is a businessman, not just a talent.
- Joe Rogan is worth a billion dollars and is a trusted brand that is officially a company.
- Companies like Spotify are already trained to go to Joe Rogan’s platform, making him a valuable asset.
- Twitter is trying to get talent like Joe Rogan and Tucker Carlson, which could be a scary situation for other companies.
- Tucker Carlson raised $15 million for a media company valued at $150 million.
- Joe Rogan is the number one podcast in the world in the majority of countries and has a good relationship with Spotify’s CEO.
- Joe Rogan is a loyal guy and protective of his circle, but it’s unknown if he wants to build his own media company.
- Joe Rogan’s loyalty and dedication were shown when Spotify stood by him after he got in trouble for making comments, which could be a deciding factor for him staying with the company.
- Joe Rogan values loyalty and trust, and Spotify is currently in the lead to keep him.
Summary
The Latest News and Controversial Topics
The podcast hosts cover a range of news stories, including the GOP debate, the Gaza conflict, and Elon Musk’s brain chips. They also discuss controversial topics such as Bernie Sanders rejecting calls for a ceasefire in Israel and Hamas, and the US planning to send weapons transfer to Israel. The hosts highlight the importance of fact-checking and considering different perspectives in these discussions.
Joe Rogan and Spotify’s Future
The hosts delve into Joe Rogan’s exclusive licensing deal with Spotify and the potential future plans for his podcast. They explore the dilemma Spotify faces in either keeping Rogan and paying him a significant amount or losing their biggest property. Rogan’s loyalty and dedication to his circle are emphasized, and his potential plans to establish his own media company or collaborate with Elon Musk are discussed. The hosts also touch on Spotify’s recent success and the impact of Rogan’s podcast on their business.
401k Hardship Withdrawals and Housing Affordability
The hosts discuss the increasing number of 401k hardship withdrawals due to high inflation and the concerns about housing affordability. They highlight the importance of investing in long-term financial growth and the potential consequences of early 401k withdrawals. The challenges of rising housing prices and the need for more homes for sale are also addressed.
Joe Rogan and Future Plans
The hosts explore Joe Rogan’s value as a businessman and a trusted brand. They discuss the competition for talent like Rogan and the potential implications for other companies. Rogan’s loyalty and protective nature towards his circle are highlighted, along with the importance of trust and loyalty in his decision-making process. The hosts also touch on the potential for Rogan to establish his own media company and his strong relationship with Spotify’s CEO.
Conclusion
In this episode of the PBD Podcast, the hosts cover a wide range of topics, from news stories and controversial topics to Joe Rogan’s future plans and the challenges of 401k hardship withdrawals and housing affordability. They provide valuable insights and diverse perspectives on these subjects, encouraging listeners to stay informed and consider different viewpoints. With engaging discussions and informative analysis, this episode offers a thought-provoking listening experience.
