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US equities were lower in Wednesday afternoon trading, as stocks ended just off worst levels, with the Dow Jones, S&P500, and Nasdaq finishing down 197bps, 168bps, and 139bps respectively. Today's $16B auction of 20-year notes tailed by 1.2bps, with bond yields rising, curve bear steepening, pressuring equities in the afternoon. Mixed retailer earnings, mostly upbeat AI headlines, among corporate news items, while budget reconciliation bill remains stalled and Israeli, Iranian geopolitical tensions in focus.
In this dynamic episode of Around The Horn in Wholesale Distribution, hosts Kevin Brown and Tom Burton dive deep into the critical shifts happening in the global economy, supply chain volatility, AI's role in distribution, and how forward-thinking companies are thriving amid uncertainty. With Kevin just back from Denver following the SHIFT event hosted by Modern Distribution Management and the National Association of Wholesaler-Distributors, the conversation is rich with fresh insights, real-world anecdotes, and actionable takeaways.From the U.S.–China tariff talks and inflation concerns to the power of brand relevance and emerging AI tools in forecasting, this episode is a must-listen for anyone navigating the evolving distribution landscape.
Mike Armstrong and Paul Lane discuss the annual inflation rate hitting 2.3% in April, the lowest level since 2021. Tariff receipts topped $16B in April, a record that helped cut the budget deficit. GOP tax plan boosts SALT deduction, ends green energy breaks. Microsoft announces a 3% headcount cut. Robotaxi company Waymo is scouting Boston.
En este episodio, repasamos los temas más críticos del día: • Wall Street cae tras golpe a Nvidia: Los futuros retroceden tras conocerse que $NVDA necesita licencia especial para exportar chips H20 a China. $US100 -1.2%, $SPX -0.6%, $INDU +0.1%. Nvidia anticipa un cargo de hasta $5.5B. Hoy se publican ventas minoristas y producción industrial. Habla Powell. • Aranceles a China suben a 245%: La Casa Blanca confirma que algunas exportaciones chinas enfrentarán tarifas de hasta 245%. Incluyen productos médicos como jeringas. China no fue incluida en la pausa de aranceles de 90 días y designó nuevo negociador comercial. • EE.UU. restringe chips H20: $NVDA ya no podrá enviar su chip estrella sin aprobación federal. Alibaba, Tencent y ByteDance habían ordenado $16B en estos chips. Trump celebró que Nvidia invertirá $500B en supercomputación en EE.UU. • Trump lanza investigación sobre minerales críticos: Se analizará si las importaciones de litio, cobalto, níquel y tierras raras representan un riesgo para la seguridad nacional. China, que produce el 70% de las tierras raras, ya restringe exportaciones. El informe estará listo en 180 días. Un episodio clave para entender cómo la tecnología, la geopolítica y la seguridad nacional están convergiendo en esta nueva etapa de tensiones entre las dos mayores potencias del mundo.
- Argonne's nuclear reactor digital twin helps monitor, manage, train - An AI factory in the sky? Building data centers in space or on the moon using Space Based Solar Power (SSP) - TSMC may face US$1B penalty - Chinese AI players order $16B of Nvidia H20s - Hyperion Research says HPC-AI market grew a whopping 23.5% in 2024, poised to exceed $100B by 2028 [audio mp3="https://orionx.net/wp-content/uploads/2025/04/HPCNB_20250414.mp3"][/audio] The post HPC News Bytes – 20250414 appeared first on OrionX.net.
Filip Kaliszan is the Founder & CEO of Verkada, the physical security company.Verkada started in 2016 by building the best camera for physical security teams, and has since evolved into a full suite of security products for buildings. Filip takes us inside Verkada's rapid growth to almost a billion in annual revenue, over 2,000 employees, and raising capital from investors like Sequoia, Meritech, First Round, General Catalyst, and Next47.We get into how AI and LLMs are changing hardware, the power of customer therapy, how Filip iterated on early startup ideas, inside Verkada's very difficult first funding round, how signing their first big customers changed the trajectory of the business, and how to think about adding new products over time.We also talk through Verkada's commitment to in-person work in the summer of 2020, how you should evaluate joining a startup as an employee, Verkada's “software zero” employee bonus policy, and building a rooftop bar for the office.Thanks to Numeral for supporting this episode, the end-to-end platform for sales tax and compliance. Try it here: https://bit.ly/NumeralThePeelTimestamps:(4:20) Verkada, the physical security technology company + Demo!(11:02) Building software powered hardware(12:56) LLM opportunities in cameras(15:49) Filip's lifelong fascination with photography(17:57) Taking one year to come up with the idea for Verkada(22:27) Building his own home security system to learn the $16B market(27:14) Why hardware experimentation is cheaper and easier than you'd think(30:36) The importance of customer therapy(32:37) How to get your first customers, importance of quick time to demo(35:06) Why early fundraising was so hard(40:38) Verkada's first big customer(42:23) How to decide what startup to join(45:45) The opportunity in “smart building tech”(50:34) How to launch new product lines(58:07) Re-architecting the security industry to be software-native(1:02:31) How hiring and managing a team changes as you scale(1:08:55) Why each team at Verkada has its own recruiters(1:14:00) Adding senior leaders to the team as you scale(1:17:06) Evolving from introverted engineer to CEO of multi-thousand person company(1:21:59) Verkada's cool office and focus on in-person work during COVID(1:28:12) Building a rooftop bar on the office(1:32:20) Verkada's Software Zero employee bonus program with 40x ROI(1:36:00) How Filip thinks about IPO vs staying privateReferencedVerkada: https://www.verkada.com/Open roles at Verkada: https://www.verkada.com/careers/Follow FilipLinkedIn: https://www.linkedin.com/in/kaliszan/Follow TurnerTwitter: https://twitter.com/TurnerNovakLinkedIn: https://www.linkedin.com/in/turnernovakSubscribe to my newsletter to get every episode + the transcript in your inbox every week: https://www.thespl.it/
The Capitalist Hippie (Formerly Someone Like You) Photon is building electric propulsion systems for commercial boats—and unlocking a $16B market in the process. In this episode, founders Marcelino Alvarez and Alana Kambury share how a focused go-to-market strategy, real-world use cases, and deep hardware-software integration are driving adoption in one of the most overlooked sectors in electrification. If you're building climate tech, rethinking product-market fit, or exploring niche markets with massive upside—this conversation delivers insight, clarity, and momentum.
Today's show: Jason and Alex dive into the startup world's latest chaos — from Nasdaq's slide and Trump's tariffs to Klarna's IPO pause and Rippling's $16B target. They break down what founders really need to know: tightening CIO budgets, longer sales cycles, but easier hiring. Plus, TikTok's ban gets another delay (with Bezos possibly lurking?). In Office Hours, they chat with two sharp founders: Luke Belbina from PodEngine, who's building AI for podcasters and doubling revenue, and David Moscatelli from Abacus, who's bringing secure, on-prem AI to banks and just hit $1M ARR. Don't miss it!
When you saw this episode pop up in your feed, you either jumped for joy and hit play immediately (in which case you're not reading this), or you said “Huh. That's a surprising episode.” Well, if you're in group two, boy do we have a treat for you!IPL is the fastest-growing, most dynamic and most disruptive force in the sports industry today… and this may come as a shock to many Americans, but it might just be on track to surpass the NFL as the world's most valuable sports league. The IPL is currently valued at $16B, with a TV rights deal that's higher in per-match dollars than the NBA and the English Premier League. And all this for a league that's right now just 10 teams who collectively only play 74 total games per season… and oh yeah, the whole thing is only 17 years old! Tune in for an absolutely amazing story, filled with genius, drama (Rupert Murdoch! Disney! Bollywood!) and a perfect encapsulation of the rise of modern India.Sponsors:Many thanks to our fantastic Spring ‘25 Season partners:J.P. Morgan PaymentsServiceNowFundriseCrusoeLinks:Save the date, July 15 in NYC!Ed Cowan's Business Breakdowns of IPLWorldly Partners' Multi-Decade IPL StudyEpisode sourcesCarve Outs:SeveranceStratecheryMore Acquired:Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Check out the latest swag in the ACQ Merch Store!Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.
In this roundup, we dive into a packed week of digital assets and cover how markets broke out of five straight weeks of selling, perhaps moving back into buying territory. On the acquisition front, Kraken acquires NinjaTrader, expanding its digital asset trading reach, while SoftBank's $6.5B deal for Ampere Computing may underscore the intensifying race to secure AI infrastructure. We also discuss CoreWeave's $2.7B IPO plans amid demand for AI cloud services, Dubai's ambitious real estate tokenization pilot targeting $16B by 2033, and recent AI funding rounds fueling growth in the compute and infrastructure space. Remember to Stay Current! To learn more, visit us on the web at https://www.morgancreekcap.com/morgan-creek-digital/. To speak to a team member or sign up for additional content, please email mcdigital@morgancreekcap.com Legal Disclaimer This podcast is for informational purposes only and should not be construed as investment advice or a solicitation for the sale of any security, advisory, or other service. Investments related to the themes and ideas discussed may be owned by funds managed by the host and podcast guests. Any conflicts mentioned by the host are subject to change. Listeners should consult their personal financial advisors before making any investment decisions.
Lawmakers face the challenge of addressing the potential loss of $16B in federal funding in next year's Mass. budget, which may require significant Legislative action.
This podcast continues VHIA’s implementation series with respect to a new clause, 16B which concerns climate change mitigation and sustainability.See omnystudio.com/listener for privacy information.
Molly O'Shea is a venture capitalist and founder of Sourcery, a newsletter about top VC deals and startup trends02:51) Why every VC has a podcast(07:10) Why podcasting is a good excuse to meet cracked people(13:30) Internet friendship = best friendship(14:40) Molly's artist-to-VC pipeline(18:50) Learning about what VC does for the first time(22:00) Our high school side hustle stories(24:40) Why good artists shouldn't starve(26:09) The VC trash-talking culture(28:27) Fuck Kanye West(31:30) How to get viral by offending people (correctly)(35:10) "Memes aren't gonna save you if your product sucks"(37:12) "There's $16B value in LinkedIn influencers"(44:12) Molly explains to me wtf a "vertical SaaS" is(46:17) My secret Memelord Mafia workflow (50:41) "The internet is run by autodidacts" Jason Levin is the founder of meme marketing software Memelord Technologies.Read Jason's weekly advice column on organic social media growth for startups.Follow Jason on X.Follow Molly on X.Subscribe to Jason on YouTube.Past guests of The Jason Levin Show include: Eric Jorgenson, Greg Isenberg, Jack Raines, Paul Millerd, Mike Solana, Danny Miranda, Billy Oppenheimer, Jack Rhysider, Ben Wilson, and more.
Here we go with the start of a new month and with it a new mix of fresh new sounds.I actually ran out of new tunes, it was a well discussed topic in the chatroom as to whether I had enough. So I decided to end the mix with two of my own tracks, Can't Play which was my second track made and my latest one, Beautiful Persons.I was also so happy to be able to play a track I melted in 1998 in my attic room in Nottingham. I got excited when Defected bought Strictly Rhythm's back catalogue but The Believers, Heather Wildman - Gotta Keep Holding On wasn't released. Imagine my surprise when it suddenly shows up in Traxsource!Locking in the guest DJ for this month, Tony Garcia of Rotary Disco fame. He produced the excellent remake or Nights Over Egypt - Over Pyramids that appeared in last months mix. One of the nicest guys in the scene, I can't to have him on.For those of you in Sydney you can catch me next on Feb 16th playing for Soul Of Sydney who are doing a Frankie Knuckles tribute event. Looking forward to spinning vinyl from across the decades for a very appreciative older crowd.Finally - it was nice to be able to pay respects to the late, great Michael Procter. Another of house musics great male vocalists. R.I.P. brother.Tracklisting:1: KC Flight - Voices2: 16B, Omid 16B -Trail Of Dreams (Dirty Dream Mix)3: Cezar Touch - Slappin & Clappin (Hector Moralez Remix)4: Dreamer G, Kerri Chandler - I Got That Feelin' (Demuir's Playboi Dub Edit)5: Bonetti - I Can't Give You Up6: Sean McCabe, Hanlei - Now Is The Time7: The Believers, Heather Wildman - Gotta Keep Holding On 8: Zetbee - For Your Love10: Foo Funkers - Love Enough11: Michael Procter - Fall Down (Grant's Club Vibe)12: Frits Wentink - About You13: hugs! - Set Me Free14: George Smeddles - Festival Track15: Jasper Street Co. - Solid Ground (Doo Dew Solid Mix)16: Walter G - Omakla17: Max Kion - Revival18: Klaus Veen - Poison19: Renaud Genton - In A Flash20: Vincenzo Gerri - All I Need21: Max Kernmayer - Exclusive Selection22: Intrallazzi - Pik Nik (The Cube Guys Mix)23: Joeski, Héctor Lavoe - Dia De Ayer24: c2eMusic - Beautiful Person25: c2eMusic - Can't StayEnjoy!
US equities mixed in fairly quiet Wednesday trading, though ended near best levels, with the Dow Jones closing up 32bps, the S&P500 closing flat, and the Nasdaq finishing down 11bps. Financial Times reported Marc Rowan has emerged as a top contender for Treasury Secretary. Today's $16B auction of 20-year bonds tailed. Target sold off on disappointing results and guidance with margins a key area of scrutiny.
Chuck Zodda and Mike Armstrong discuss mortgage rates volatile couple of months and the guys share some important facts you need to know about the rates. Exxon and Chevron feel brunt of cheaper oil. Ted Rossman from Bankrate joins the show to chat about holiday impulse purchases. Intel posts more than $16B loss but says sales outlook is improving. Google employees pressure costumed execs at all-hands meeting for clarity on cost cuts. Paul LaMonica joins the show to chat about Amazon.
In Episode 190, Dave returns to his more fun loving roots as he starts the show with a funny video before discussing the cacklin' marxist's performance during her Fox interview. After that, he discusses the IDF unaliving the coward responsible for Oct 7th and the US bombing Houthi's in Yemen. Continuing on, he talks about the parents and doctors protesting Kellogg's and the fact that the FDA, BigPharma, and BigAg have no interest in seeing a healthy populace. From there, Dave reviews the methods behind Argentina's $16B surplus. Speaking of bad news, Dave brings to light a former target exec's warning that American's are out of money so businesses should expect poor holiday receipts. Dave closes the show with a discussion regarding the surprising number of spying incidents tied to the CCP under the Beijing Biden regime and Trump's fraud case getting kicked by the appellate court. Articles discussed: Official Confirmation: Hamas Leader Yahya Sinwar Is Dead; Killed Trying to Flee Gaza by Joel E. Pollak from Breitbart News Hundreds Protest Food Additives at WK Kellogg Co's Battle Creek, Mich., Headquarters by Dave Fusaro from Food Processing Argentina Approaches $16 Billion Trade Surplus Under Milei by John Hayward from Breitbart News Former Target exec issues dire warning as holiday shopping season commences: Consumers 'running out of money' by Taylor Penley from Fox Business Report: Communist China's Spying ‘Expanded Rapidly' Across 20 States Under Biden And Harris by Shawn Fleetwood from The Federalist Support Dave by visiting his Etsy shop at DesignsbyDandTStore Available for Purchase - Fiction: When Rome Stumbles | Hannibal is at the Gates | By the Dawn's Early Light | Colder Weather | A Time for Reckoning (paperback versions) | Fiction Series (paperback) | Fiction Series (audio) Available for Purchase - Non-Fiction: Preparing to Prepare (electronic/paperback) | Home Remedies (electronic/paperback) | Just a Small Gathering (paperback) | Just a Small Gathering (electronic)
In Episode 190, Dave returns to his more fun loving roots as he starts the show with a funny video before discussing the cacklin' marxist's performance during her Fox interview. After that, he discusses the IDF unaliving the coward responsible for Oct 7th and the US bombing Houthi's in Yemen. Continuing on, he talks about the parents and doctors protesting Kellogg's and the fact that the FDA, BigPharma, and BigAg have no interest in seeing a healthy populace. From there, Dave reviews the methods behind Argentina's $16B surplus. Speaking of bad news, Dave brings to light a former target exec's warning that American's are out of money so businesses should expect poor holiday receipts. Dave closes the show with a discussion regarding the surprising number of spying incidents tied to the CCP under the Beijing Biden regime and Trump's fraud case getting kicked by the appellate court. Articles discussed: Official Confirmation: Hamas Leader Yahya Sinwar Is Dead; Killed Trying to Flee Gaza by Joel E. Pollak from Breitbart News Hundreds Protest Food Additives at WK Kellogg Co's Battle Creek, Mich., Headquarters by Dave Fusaro from Food Processing Argentina Approaches $16 Billion Trade Surplus Under Milei by John Hayward from Breitbart News Former Target exec issues dire warning as holiday shopping season commences: Consumers 'running out of money' by Taylor Penley from Fox Business Report: Communist China's Spying ‘Expanded Rapidly' Across 20 States Under Biden And Harris by Shawn Fleetwood from The Federalist Support Dave by visiting his Etsy shop at DesignsbyDandTStore Available for Purchase - Fiction: When Rome Stumbles | Hannibal is at the Gates | By the Dawn's Early Light | Colder Weather | A Time for Reckoning (paperback versions) | Fiction Series (paperback) | Fiction Series (audio) Available for Purchase - Non-Fiction: Preparing to Prepare (electronic/paperback) | Home Remedies (electronic/paperback) | Just a Small Gathering (paperback) | Just a Small Gathering (electronic) --- Support this podcast: https://podcasters.spotify.com/pod/show/contra-radio-network/support
While everyone focused on the Yen Carry trade and China's massive money printing, something big flew under the radar. Did you catch the Cointelegraph article revealing China still dominates Bitcoin mining, despite their 2021 ban? That's not the only shocker from Asia—Bhutan was exposed as the 4th largest Bitcoin holder, with a third of their GDP in Bitcoin after secretly mining for four years! For Simply Bitcoin fans, this isn't news, but today we're bringing in the big guns: Adam Sullivan, CEO of Core Scientific, one of the top Bitcoin mining companies with a $3.16B market cap. Tune in for the deep dive! SPONSORS ► Bitcoin Well: https://bitcoinwell.com/simplybtc ► Passport by Foundation: https://foundation.xyz/simply ►Compass Mining https://compassmining.io ► Stamp Seed: https://www.stampseed.com PROMO CODE: SIMPLY for a 15% discount ► Orange Pill App: https://theorangepillapp.com/en FOLLOW US ► https://twitter.com/SimplyBitcoinTV ► https://twitter.com/bitvolt ► https://twitter.com/Optimistfields ► Nostr: npub1vzjukpr2vrxqg2m9q3a996gpzx8qktg82vnl9jlxp7a9yawnwxfsqnx9gc JOIN OUR TELEGRAM, GIVE US A MEME TO REVIEW! ► https://t.me/SimplyBitcoinTV SUBSCRIBE TO OUR YOUTUBE ► https://bit.ly/3QbgqTQ SUPPORT US ► On-Chain: bc1qpm5j7wsnk46l2ukgpm7w3deesx2mdrzcgun6ms ► Lightning: simplybitcoin@walletofsatoshi.com #bitcoin #bitcoinnews #simplybitcoin DISCLAIMER: All views in this episode are our own and DO NOT reflect the views of any of our guests or sponsors. Copyright Disclaimer under section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, education and research. If you are or represent the copyright owner of materials used in this video and have a problem with the use of said material, please contact Simply Bitcoin.
World Champion Dishsoap and Frodan sit down the night before the 14.16B patch to chat about the current and upcoming TFT meta. Our big topic of today is about how we are approaching Set 12 Augments! What has changed this set with augment choices? What are some sleeper, underrated augments? Which are some overrated fake augments? We actually had to cut this one off early because we just kept yapping for hours…
Join Profs. Karoline Lewis, Joy J. Moore, and Matt Skinner for a conversation on the Revised Common Lectionary texts for the Ninth Sunday after Pentecost (Ord.16B) on July 21, 2024. This week, our hosts delve into themes of compassion, desperation, the role of the shepherd, the significance of the temple, and the unity of the community. Commentaries for the Ninth Sunday after Pentecost (Ord.16B): https://www.workingpreacher.org/commentaries/revised-common-lectionary/ordinary-16-2/commentary-on-mark-630-34-53-56-6 Connect with Working Preacher https://www.workingpreacher.org/ https://www.facebook.com/workingpreacher https://www.instagram.com/workingpreacher/ https://twitter.com/WorkingPreacher Watch the Full Episode Here: https://youtu.be/HTmk7Vvxnj8.
As a longtime fan of comic books, Shequeta Smith wanted to see herself reflected in those stories as the main characters. Today, she runs Sherocomics, a media company focused on films, comics, and gaming and is tapping into the roughly $350B gaming industry and $16B comic books market. Recorded live in Los Angeles. This episode was produced by Hauwa Otori and Osheiza Otori with music by Kevin Edwards. You can follow BBP on Instagram, join our newsletter at foundersintlnetwork.org, and email us at info@buildingblackpodcast.com.
Noticias Económicas y Financieras Hay una clase de activos emergente que ha crecido desde alrededor de $250B en 2010 a alrededor de $2T en la actualidad, y se prevé que se expandirá en porcentajes de dos dígitos en los próximos años. El mercado de crédito privado consiste en préstamos privados otorgados por fondos a empresas de propiedad privada, con dinero proveniente de fuentes como fondos de pensiones, compañías de seguros, dotaciones y fundaciones. El crédito privado también se basa en gran medida en préstamos directos y relaciones uno a uno en comparación con los préstamos tradicionales, donde el dinero que se presta se financia a través de depósitos bancarios o se sindica entre un grupo de inversores. $DIS Según se informa, Nelson Peltz vendió toda su participación en Walt Disney, ganando alrededor de $1B con la posición, apenas unas semanas después de que el inversionista activista perdiera el concurso de poderes más caro de la historia. La lista de directores propuesta por Disney fue reelegida para la junta en su reunión anual en abril, superando a un par de listas rivales de Trian Fund Management de Peltz y Blackwells Capital. Las acciones de Disney han subido un 12% hasta la fecha, en comparación con el rendimiento del 10% del S&P 500. La Casa Blanca está dando su apoyo a la construcción de reactores nucleares a gran escala, anunciando nuevas medidas destinadas a acelerar su desarrollo. El último reactor nuclear a escala comercial construido en Estados Unidos, el proyecto Vogtle de Southern Co. $SO, superó en más de $16B el presupuesto y tenía siete años de retraso. La administración Biden dijo que la energía nuclear es necesaria para cumplir los objetivos climáticos y de energía limpia, pero una docena de reactores han cerrado desde 2013, perdiendo frente a la energía más barata procedente del gas natural y las fuentes de energía renovables. $GOOG $GOOGL Google ha confirmado a The Verge que los 2.500 documentos internos filtrados con detalles sobre los datos rastreados por el gigante de las búsquedas son auténticos. Los archivos contienen información sobre el algoritmo secreto de Google para clasificar los resultados de búsqueda, que, junto con su testimonio en el caso antimonopolio del Departamento de Justicia, arroja más luz sobre el tipo de datos que el principal motor de búsqueda recopila y utiliza. $CRM Salesforce se desploma por ventas y pronósticos débiles. $TMUS $USM T-Mobile y US Cellular puede generar problemas antimonopolio. Estados Unidos toma medidas enérgicas contra los agentes de aduanas utilizados por Shein y Temu.
How Big Tech Co's Make Money - Magnificent 7 - MSFT, FB, NVDA, Apple, Google, Amzn, Tesla AZ TRT S05 EP19 (234) 5-12-2024 What We Learned This Week: Tech Stocks - 7 Big Market Cap Stocks make up 29% of S&P Google, Microsoft & Amazon are biggest Co‘s in Cloud Service Tesla is the biggest EV Car Co,, & Apple biggest in Smart Phones Nvidia is the AI Superchip tech company Google & Meta / FB are the biggest advertising co‘s in the world Notes: Breakdown of Revenue Sources, Market Cap / CEO / Start Google / Alphabet – ads / search, playstore, hardware, services, YouTube premium content + TV, cloud Microsoft – gaming, services, software, devices, cloud Apple – devices, services, apps Nvidia – AI Chips, Graphic Cards, & components Tesla – EV Cars Amazon – E Commerce, cloud, services Meta / Facebook – ads, devices Big drops in two of the Magnificent Seven stocks haven't dented the group's influence on the S&P 500. In fact, the trendy stocks dominate now more than ever. The seven megacap stocks — Microsoft (MSFT), Apple (AAPL), Nvidia (NVDA), Alphabet (GOOG), Amazon.com (AMZN), Meta (META) and Tesla (TSLA) — account for 29.7% of the S&P 500 as of April 17, says Datatrek Research. That's up from the group's 27.9% weight in the S&P 500 in 2023. Seeing the group's hold over the world's most popular index grow this year might surprise you. Shares of Tesla are down 37.4%. "Despite all the buzz around the death of the 'Magnificent 7,' U.S. big tech is actually a more dominant force in American stock markets than at the end of 2023," said Nicholas Colas of Datatrek in a report. Source:4/2024 - https://www.investors.com/etfs-and-funds/sectors/sp500-magnificent-7-stocks-dominate-even-more-now/ Google CEO Sundar Pinchai c 1998 Sergey Brin and Larry Page Mkt Cap $2.1 Tr Source: https://www.oberlo.com/statistics/how-does-google-make-money Google / Alphabet – ads / search 56% of rev at $175 bil in 2023, playstore, hardware, services, YouTube premium content + TV, cloud 11% of rev at $31 bil Google revenue breakdown: top Google revenue sources in 2023 Ads · Ads (Google Search & other properties): $175.03 billion (56.9%) · YouTube ads: $31.51 billion (10.3%) · Google Network ads: $31.31 billion (10.2%) Google subscriptions, platforms, and devices: $34.69 billion (11.3%) Google Cloud: $33.09 billion (10.8%) Other bets: $1.53 billion (0.5%) Hedging gains: $236 million (0.1%) Source: https://www.investopedia.com/articles/investing/020515/business-google.asp KEY TAKEAWAYS Alphabet is a collection of different companies, including the popular search engine Google. The company leverages its search, web browsing, mobile operating systems, and cloud computing to make money through the sale of advertising and various service fees. Advertising generates the majority of revenue, but Google Cloud revenues are growing rapidly. The company has three reportable segments: Google Services, Google Cloud, and Other Bets. Google Services is the most profitable while Google Cloud and Other Bets often post operating losses. Microsoft CEO Satya Nadella. C 1975 Bill Gates / Paul Allen Mkt Cap 3.1 tr KEY TAKEAWAYS Microsoft sells computing devices, cloud systems and services, software, and other products to consumers and businesses. The company's Intelligent Cloud segment is the largest source of profit, as well as the fastest-growing. Microsoft is focused on delivering AI solutions to customers in a broad swath of industries. Some of its many competitors include Apple, Amazon, Meta, Alphabet, Oracle, and IBM. Microsoft's current CEO is Satya Nadella. Source: https://www.investopedia.com/how-microsoft-makes-money-4798809 Source: https://techbehemoths.com/blog/how-microsoft-makes-billions First thing's first and just before we dive into the financial story, we should identify the major sources of revenue Microsoft has: · Cloud computing - The entire business suite of Microsoft is focused on cloud services. Microsoft Azure for example is the leading direction in the company's cloud services. But, things are more complicated · Windows OS - from Windows 95 till 10th version is only 15 years. And in May 2021 with the 21H1 update rumors are saying that the next thing that will happen in Autumn 2021 is the release of Windows 11. It was and continues to be one of the largest sources of revenue for Microsoft. · Microsoft Teams - An alternative to Slack, some would say, but Microsoft is putting more than just a comfortable chat for users. It is designed to become a digital environment for companies and employees of any company in the world. · Xbox - the gaming industry is growing, and Microsoft couldn't stay apart from this topic. Sony needed competition and Xbox is the best possible alternative to it at the moment · LinkedIn - Since 2016 when Microsoft acquired LinkedIn, the professional social network continued to grow and became a unique and indispensable tool for HR professionals all over the world. · Minecraft - as if Xbox was not enough, Microsoft dive into the gaming industry even more with Minecraft. So, there is a good portfolio for Microsoft which in its turn provides a series of exclusive services, or competitive Microsoft Azure is a top cloud service provider competing with Google Cloud and AWS from Amazon. Revenue of Microsoft broken down by segment 2012-2023 Published by Lionel Sujay Vailshery, Mar 27, 2024 In its 2023 financial year, Microsoft generated 69 billion U.S. dollars from its productivity and business processes segment and a further 88 billion through its intelligent cloud segment. Thanks in part to the rapid growth in these two areas, 2023 proved to be the company's most successful year ever in terms of annual revenue, with the total figure reaching over 211 billion dollars. Source: https://www.visualcapitalist.com/microsofts-revenue-by-product-line/ Microsoft's Most Lucrative Business Segments In 2023, Microsoft revenues soared to a record $211 billion as demand for AI services accelerated. As one of the world's largest companies by market cap, Microsoft reached a $2.8 trillion valuation as investors flocked to big tech and AI-related stocks last year. Amid strong growth, here's how much revenue was generated from Microsoft's product lines in 2023: Product LIne FY2023 Revenue Share of Revenue Cloud Computing Services $80B 38% Cloud Office Suite Software $49B 23% Operating Systems $22B 10% Gaming Consoles $15B 7% Employment Listing Platform $15B 7% AI-Enabled Search Engine $12B 6% Other $19B 9% Total Revenue $211B 100% Source: https://blogs.microsoft.com/blog/2023/01/23/microsoftandopenaiextendpartnership/ Microsoft and OpenAI This agreement follows our previous investments in 2019 and 2021. It extends our ongoing collaboration across AI supercomputing and research and enables each of us to independently commercialize the resulting advanced AI technologies. · Supercomputing at scale – Microsoft will increase our investments in the development and deployment of specialized supercomputing systems to accelerate OpenAI's groundbreaking independent AI research. We will also continue to build out Azure's leading AI infrastructure to help customers build and deploy their AI applications on a global scale. · New AI-powered experiences – Microsoft will deploy OpenAI's models across our consumer and enterprise products and introduce new categories of digital experiences built on OpenAI's technology. This includes Microsoft's Azure OpenAI Service, which empowers developers to build cutting-edge AI applications through direct access to OpenAI models backed by Azure's trusted, enterprise-grade capabilities and AI-optimized infrastructure and tools. · Exclusive cloud provider – As OpenAI's exclusive cloud provider, Azure will power all OpenAI workloads across research, products and API services. Meta / FB - Mark Zuckerburg + others c 2/2004 Mkt Cap 1.2 tr Source: https://www.investopedia.com/ask/answers/120114/how-does-facebook-fb-make-money.asp KEY TAKEAWAYS Meta Platforms sells ads on social media websites and mobile applications and also sells augmented- and virtual-reality products and services. Advertising sales are the primary source of Meta's revenue. Facebook reported in 2021 that it lost daily active users for the first time in its history. Reality Labs is Meta's augmented and virtual reality technologies segment, which features and sells products such as the Oculus VR headset. Meta discloses data about the diversity and inclusion of its general management and employees. Instagram, Messenger, WhatsApp In 2023, the revenue general by Meta Platforms (formerly known as Facebook Inc.) amounted to roughly 134 billion US dollars, up from around 116 billion U.S. dollars in the previous fiscal year. In 2022, Meta's revenue stood at 117.9 billion USD. Meta Revenue Breakdown 2022 % Advertising $113.64B 97.5% Other revenue (payments and fees) $809MM 0.7% Reality Labs (primarily sales of Oculus, now called Meta Quest) $2.16B 1.9% Total $116.6B Apple c 1976 Steve Jobs and Steve Woz CEO Tim Cook Mkt Cap 2.9 tr Source: https://www.tutor2u.net/economics/reference/why-is-apple-so-profitable#:~: . Diversified revenue streams: Apple generates revenue from a variety of different sources, including iPhone sales, iPad sales, Mac sales, as well as services like the App Store, Apple Music, and iCloud. This diversification helps to minimise risk and ensure a steady stream of income for the company. Source: https://www.investopedia.com/how-apple-makes-money-4798689 KEY TAKEAWAYS Apple sells smartphones, personal computers, tablets, wearables and accessories, as well as a variety of services. iPhones are Apple's biggest source of revenue by product. Apple's services business generates the highest gross margins compared to its products business. Apple faces antitrust challenges regarding its App Store and ongoing unionization attempts by its retail workers. Apple Revenue iPhone Accessories Mac iPad iPod Services 2023 $200.6B $39.8B $29.3B $28.3B - $85.2B Total 2023 Rev - $382 B Nvidia c 1997 CEO Jenson Huang – Hong Mkt Cap 2.3 Tr Source: https://www.investopedia.com/how-nvidia-makes-money-4799532 KEY TAKEAWAYS Compute and Networking, which includes artificial intelligence (AI), is Nvidia's biggest revenue generator. The graphics business segment is Nvidia's second largest revenue generator. Nvidia (NVDA) introduced graphics processing units, known as GPUs, a key component of PC architecture and large-scale applications. It designs and sells GPUs for gaming, cryptocurrency mining, and professional applications. It also sells chip systems for use in vehicles, robotics, and more. Revenue $26 bil in 2023, and $60 bil in 2024 so far Graphics and computers / networking – gaming, data centers Nvidia partners with all – Google, FB, Amazon, Dell, Tesla, OpenAI, Oracle Source: https://nvidianews.nvidia.com/news/nvidia-blackwell-platform-arrives-to-power-a-new-era-of-computing#:~: . NVIDIA Blackwell Platform Arrives to Power a New Era of Computing March 18, 2024 Blackwell Innovations to Fuel Accelerated Computing and Generative AI Blackwell's six revolutionary technologies, which together enable AI training and real-time LLM inference for models scaling up to 10 trillion parameters, include: World's Most Powerful Chip — Packed with 208 billion transistors, Blackwell-architecture GPUs are manufactured using a custom-built 4NP TSMC process with two-reticle limit GPU dies connected by 10 TB/second chip-to-chip link into a single, unified GPU. Second-Generation Transformer Engine — Fueled by new micro-tensor scaling support and NVIDIA's advanced dynamic range management algorithms integrated into NVIDIA TensorRT™-LLM and NeMo Megatron frameworks, Blackwell will support double the compute and model sizes with new 4-bit floating point AI inference capabilities. Fifth-Generation NVLink — To accelerate performance for multitrillion-parameter and mixture-of-experts AI models, the latest iteration of NVIDIA NVLink® delivers groundbreaking 1.8TB/s bidirectional throughput per GPU, ensuring seamless high-speed communication among up to 576 GPUs for the most complex LLMs. RAS Engine — Blackwell-powered GPUs include a dedicated engine for reliability, availability and serviceability. Additionally, the Blackwell architecture adds capabilities at the chip level to utilize AI-based preventative maintenance to run diagnostics and forecast reliability issues. This maximizes system uptime and improves resiliency for massive-scale AI deployments to run uninterrupted for weeks or even months at a time and to reduce operating costs. Secure AI — Advanced confidential computing capabilities protect AI models and customer data without compromising performance, with support for new native interface encryption protocols, which are critical for privacy-sensitive industries like healthcare and financial services. Decompression Engine — A dedicated decompression engine supports the latest formats, accelerating database queries to deliver the highest performance in data analytics and data science. In the coming years, data processing, on which companies spend tens of billions of dollars annually, will be increasingly GPU-accelerated. A Massive Superchip The NVIDIA GB200 Grace Blackwell Superchip connects two NVIDIA B200 Tensor Core GPUs to the NVIDIA Grace CPU over a 900GB/s ultra-low-power NVLink chip-to-chip interconnect. For the highest AI performance, GB200-powered systems can be connected with the NVIDIA Quantum-X800 InfiniBand and Spectrum™-X800 Ethernet platforms, also announced today, which deliver advanced networking at speeds up to 800Gb/s. The GB200 is a key component of the NVIDIA GB200 NVL72, a multi-node, liquid-cooled, rack-scale system for the most compute-intensive workloads. It combines 36 Grace Blackwell Superchips, which include 72 Blackwell GPUs and 36 Grace CPUs interconnected by fifth-generation NVLink. Tesla c 7/2003 CEO Elon Musk Mkt Cap 567 bil Source: https://fourweekmba.com/tesla-revenue-breakdown/ Revenue Breakdown 2023 Contribution Automotive Sales $78.5B 81% Regulatory Credits $1.79B 1.85% Leasing $2.12B 2.19% Services $8.32B 8.6% Energy generation and storage $6.03B 6.24% Total $96.77B Source: https://www.investopedia.com/tesla-s-largest-revenue-source-is-automotive-sales KEY TAKEAWAYS Tesla makes, sells, and services all-electric vehicles in the U.S., Europe, and China. It also sells energy generation products. The company gets the vast majority of its revenue and all of its profits from automotive sales. Tesla is experiencing rapid growth in China. Tesla is facing investigations from regulators in different countries concerning safety-related issues with the electric automaker's vehicles. The company was recently sued by a California regulatory agency on allegations of racial discrimination and harassment at its factory in Fremont, CA. Amazon c 1994 by Jeff Bezos CEO Andy Jassy Mkt Cap 1.9 tr Amazon Revenue Breakdown - $575 B in 2023 Online stores $231.87B Physical stores $20.03B Third-party seller services $140.05B Subscription services $40.21B AWS $90.76B Advertising $46.9B Other2023 $4.96B Source: https://www.investopedia.com/how-amazon-makes-money-4587523 KEY TAKEAWAYS Amazon makes money through its retail, subscriptions, and web services, among other channels. Retail remains Amazon's primary source of revenue, with online and physical stores together accounting for the biggest share. Amazon Web Services (AWS) currently generates the majority of Amazon's operating profits and is growing at a robust pace. AWS Amazon Web Services offers a broad set of global cloud-based products including compute, storage, databases, analytics, networking, mobile, developer tools, management tools, IoT, security, and enterprise applications: on-demand, available in seconds, with pay-as-you-go pricing. Tech Topic: https://brt-show.libsyn.com/category/Tech-Startup-VC-Cybersecurity-Energy-Science Best of Tech: https://brt-show.libsyn.com/size/5/?search=best+of+tech Investing Topic: https://brt-show.libsyn.com/category/Investing-Stocks-Bonds-Retirement ‘Best Of' Topic: https://brt-show.libsyn.com/category/Best+of+BRT Thanks for Listening. Please Subscribe to the BRT Podcast. AZ Tech Roundtable 2.0 with Matt Battaglia The show where Entrepreneurs, Top Executives, Founders, and Investors come to share insights about the future of business. AZ TRT 2.0 looks at the new trends in business, & how classic industries are evolving. Common Topics Discussed: Startups, Founders, Funds & Venture Capital, Business, Entrepreneurship, Biotech, Blockchain / Crypto, Executive Comp, Investing, Stocks, Real Estate + Alternative Investments, and more… AZ TRT Podcast Home Page: http://aztrtshow.com/ ‘Best Of' AZ TRT Podcast: Click Here Podcast on Google: Click Here Podcast on Spotify: Click Here More Info: https://www.economicknight.com/azpodcast/ KFNX Info: https://1100kfnx.com/weekend-featured-shows/ Disclaimer: The views and opinions expressed in this program are those of the Hosts, Guests and Speakers, and do not necessarily reflect the views or positions of any entities they represent (or affiliates, members, managers, employees or partners), or any Station, Podcast Platform, Website or Social Media that this show may air on. All information provided is for educational and entertainment purposes. Nothing said on this program should be considered advice or recommendations in: business, legal, real estate, crypto, tax accounting, investment, etc. Always seek the advice of a professional in all business ventures, including but not limited to: investments, tax, loans, legal, accounting, real estate, crypto, contracts, sales, marketing, other business arrangements, etc.
Valerie Vu, Founding Partner of Ansible Ventures, and Jeremy Au discussed three main points: 1. Vietnam $24B Bank Bailout & Legislature Chairman Resignation: Jeremy and Valerie discussed the $12B fraud at Saigon Bank, the death penalty verdict, the appeals process and the closure of 50+ bank branches. The Vietnamese central bank injected $24B of "special loans" to prevent a banking crisis, which reduced the liquidity of their foreign exchange by one quarter. They touched on new political resignations due to the "blazing furnace" anti-corruption campaign, including the Chairman of the National Assembly - one of the country's top 4 leadership positions. 2. Apple Investment & China High-Speed Rail: International investors continue to move capital into the country despite these political shifts, exemplified by Apple's $16B of spending through the local supply chain since 2019, 200,000+ jobs created and increasing their CSR commitments. China is collaborating on cross-border high-speed railways, connecting Vietnam's port cities of Haiphong and Quang Ninh through Hanoi to Lao Cai province, which borders China's Yunnan province, and from Hanoi to Lang Son province, bordering China's Guangxi region. 3. FPT $6B Tech Conglomerate Growth: FPT was founded in 1988 as "Food Processing Technology" and has now become the country's leading software tech conglomerate valued at $6.4B on the Vietnam stock exchange with $1.7B+ of annual revenue operating across 50+ countries. FPT announced its strategic partnership with Nvidia to build a $200M AI R&D factory leveraging multiple Nvidia chips and technology frameworks. Jeremy and Valerie also talked about why people haven't heard of FPT, why companies actually invest in corporate social responsibility (CSR), and whether they would take the local train from Hanoi to Ho Chi Minh City. Watch, listen or read the full insight at https://www.bravesea.com/blog/vietnam-banking-bailout Nonton, dengar atau baca wawasan lengkapnya di https://www.bravesea.com/blog/vietnam-banking-bailout-in 观看、收听或阅读全文，请访问 https://www.bravesea.com/blog/vietnam-banking-bailout-cn Get transcripts, startup resources & community discussions at www.bravesea.com WhatsApp: https://chat.whatsapp.com/CeL3ywi7yOWFd8HTo6yzde TikTok: https://www.tiktok.com/@jeremyau Instagram: https://www.instagram.com/jeremyauz Twitter: https://twitter.com/jeremyau LinkedIn: https://www.linkedin.com/company/bravesea TikTok: https://www.tiktok.com/@jeremyau Instagram: https://www.instagram.com/jeremyauz Twitter: https://twitter.com/jeremyau LinkedIn: https://www.linkedin.com/company/bravesea English: Spotify | YouTube | Apple Podcasts Learn more about Grain here: https://www.grain.com.sg
Noticias Económicas y Financieras $LYV Live Nation ha bajado un 7% en las acciones previas a la comercialización en medio de informes de que se acerca una demanda antimonopolio. Según un informe de WSJ del lunes, que citó a personas familiarizadas con el asunto, el Departamento de Justicia se está preparando para presentar una demanda antimonopolio contra el promotor del concierto el próximo mes. Se espera que el regulador alegue que Live Nation $LYV utilizó su dominio de una manera que socavó la competencia por la venta de entradas para eventos en vivo. Se desconocen los cargos específicos. Varios fiscales generales estatales también están involucrados en la investigación y pueden decidir unirse al Departamento de Justicia en su demanda, según un informe separado de Bloomberg del lunes. El departamento de comercio está en camino de otorgar todo el dinero de la subvención de la ley CHIPS y Ciencia este año. Esa es la palabra de la Secretaria de Comercio, Gina Raimondo, a CNBC. La legislación incluía $39B en subvenciones y ya se ha concedido más de la mitad, lo que deja $16B todavía sobre la mesa. Samsung recibirá $6.4B en subvenciones de Estados Unidos para aumentar la producción local de chips. Samsung utilizará los fondos para construir dos fábricas de chips, una instalación de embalaje y una fábrica de I+D, todo en Taylor, Texas. Además, Samsung ampliará sus instalaciones existentes en Austin, Texas, para producir chips para aplicaciones aeroespaciales, de defensa y automotrices. $MSFT Microsoft invertirá $1.5B en una participación minoritaria en G42, una empresa de inteligencia artificial con sede en los Emiratos Árabes Unidos. El objetivo es llevar IA avanzada e infraestructura digital a los mercados de Medio Oriente, Asia Central y África. En virtud de esta asociación, Brad Smith, vicepresidente y presidente de Microsoft, se unirá a la junta directiva de G42. Las empresas apoyarán el establecimiento de un fondo de $1B para desarrollar una fuerza laboral y un grupo de talentos de IA capacitados y diversos. $BIDU Baidu organizará su conferencia anual emblemática para desarrolladores de IA en el Centro Mundial de Convenciones y Exposiciones de Shenzhen. Robin Li, cofundador, presidente y director ejecutivo de Baidu, pronunciará un discurso de apertura, que será su primer discurso público importante de 2024. Los mayores impulsores del día previo a la comercialización: Macatawa Bank $MCBC ha subido un 38% después de que Wintrust Financial $WTFC acordara adquirir el banco en un acuerdo de acciones valorado en aproximadamente $510,3M. Jerome Powell de la Reserva Federal participará en una discusión moderada con el Gobernador del Banco de Canadá en el Foro de Washington sobre la Economía Canadiense en Washington, DC Se informarán los inicios de viviendas para marzo. Los economistas pronostican una caída a $1,48M para el mes desde $1,52M en febrero.
In today's episode, Wesley Aster and Djavaneh Bierwirth host Graham Weaver, the founder and managing partner of Alpine Investors, a people-driven private equity firm that invests in software and services businesses. Tune in to hear about: - Graham's journey from starting Alpine in his Stanford dorm room to growing the firm to $16B in AUM - Graham's personal growth and investment philosophies, as well as how he thinks about driving long-term impact - Alpine's latest $4.5B fund 9, and Graham's experience fundraising in a challenging market
In the era of large language models, Mixture-of-Experts (MoE) is a promising architecture for managing computational costs when scaling up model parameters. However, conventional MoE architectures like GShard, which activate the top-$K$ out of $N$ experts, face challenges in ensuring expert specialization, i.e. each expert acquires non-overlapping and focused knowledge. In response, we propose the DeepSeekMoE architecture towards ultimate expert specialization. It involves two principal strategies: (1) finely segmenting the experts into $mN$ ones and activating $mK$ from them, allowing for a more flexible combination of activated experts; (2) isolating $K_s$ experts as shared ones, aiming at capturing common knowledge and mitigating redundancy in routed experts. Starting from a modest scale with 2B parameters, we demonstrate that DeepSeekMoE 2B achieves comparable performance with GShard 2.9B, which has 1.5 times the expert parameters and computation. In addition, DeepSeekMoE 2B nearly approaches the performance of its dense counterpart with the same number of total parameters, which set the upper bound of MoE models. Subsequently, we scale up DeepSeekMoE to 16B parameters and show that it achieves comparable performance with LLaMA2 7B, with only about 40% of computations. Further, our preliminary efforts to scale up DeepSeekMoE to 145B parameters consistently validate its substantial advantages over the GShard architecture, and show its performance comparable with DeepSeek 67B, using only 28.5% (maybe even 18.2%) of computations. 2024: Damai Dai, Chengqi Deng, Chenggang Zhao, R. X. Xu, Huazuo Gao, Deli Chen, Jiashi Li, Wangding Zeng, Xingkai Yu, Y. Wu, Zhenda Xie, Y. K. Li, Panpan Huang, Fuli Luo, Chong Ruan, Zhifang Sui, Wenfeng Liang https://arxiv.org/pdf/2401.06066v1.pdf
First Sunday of Advent Reading I - Is 63:16B-17, 19B; 64:2-7 Responsorial Psalm - Ps 80 Reading II - 1 Cor 1:3-9 Gospel - Mark 13:33-37
First Sunday of Advent Reading I - Is 63:16B-17, 19B; 64:2-7 Responsorial Psalm - Ps 80 Reading II - 1 Cor 1:3-9 Gospel - Mark 13:33-37
First Sunday of Advent Reading I - Is 63:16B-17, 19B; 64:2-7 Responsorial Psalm - Ps 80 Reading II - 1 Cor 1:3-9 Gospel - Mark 13:33-37
Fr. Ryan preached this homily on December 3, 2023 at St Basil the Great Catholic Church in Brecksville, OH. The Sunday readings are from IS 63:16B-17, 19B; 64:2-7, PS 80:2-3, 15-16, 18-19, 1 COR 1:3-9 & MK 13:33-37.
Reading 1 IS 63:16B-17, 19B; 64:2-7 You, LORD, are our father,our redeemer you are named forever.Why do you let us wander, O LORD, from your ways,and harden our hearts so that we fear you not?Return for the sake of your servants,the tribes of your heritage.Oh, that you would rend the heavens and come down,with the mountains quaking before you,while you wrought awesome deeds we could not hope for,such as they had not heard of from of old.No ear has ever heard, no eye ever seen, any God but youdoing such deeds for those who wait for him.Would that you might meet us doing right,that we were mindful of you in our ways!Behold, you are angry, and we are sinful;all of us have become like unclean people,all our good deeds are like polluted rags;we have all withered like leaves,and our guilt carries us away like the wind.There is none who calls upon your name,who rouses himself to cling to you;for you have hidden your face from usand have delivered us up to our guilt.Yet, O LORD, you are our father;we are the clay and you the potter:we are all the work of your hands.Reading 2 1 COR 1:3-9 Brothers and sisters: Grace to you and peace from God our Father and the Lord Jesus Christ. I give thanks to my God always on your account for the grace of God bestowed on you in Christ Jesus, that in him you were enriched in every way, with all discourse and all knowledge, as the testimony to Christ was confirmed among you, so that you are not lacking in any spiritual gift as you wait for the revelation of our Lord Jesus Christ. He will keep you firm to the end, irreproachable on the day of our Lord Jesus Christ. God is faithful, and by him you were called to fellowship with his Son, Jesus Christ our Lord.Gospel MK 13:33-37 Jesus said to his disciples: “Be watchful! Be alert! You do not know when the time will come. It is like a man traveling abroad. He leaves home and places his servants in charge, each with his own work, and orders the gatekeeper to be on the watch. Watch, therefore; you do not know when the lord of the house is coming, whether in the evening, or at midnight, or at cockcrow, or in the morning. May he not come suddenly and find you sleeping. What I say to you, I say to all: ‘Watch!'”
Fr. Patrick preached this homily on December 3, 2023 at Sacred Heart of Jesus Catholic Church in Wadsworth, OH. The Sunday readings are from IS 63:16B-17, 19B; 64:2-7, PS 80:2-3, 15-16, 18-19, 1 COR 1:3-9 & MK 13:33-37.
Homily for the First Sunday of Advent by Fr. Stephen Hamilton.Reading 1 IS 63:16B-17, 19B; 64:2-7Responsorial Psalm PS 80:2-3, 15-16, 18-19Reading II 1 COR 1:3-9Alleluia PS 85:8Gospel MK 13:33-37
Fr. Emanuele FadiniNativity of Our LordDecember 3, 2023First Reading: IS 63:16B-17, 19B; 64:2-7Second Reading: 1 COR 1:3-9Gospel: MK 13:33-37
Readings for the First Sunday in Advent - Isaiah 63:16B-17, 19B; 64:2-7 Mark 13:33-37Welcome to our new liturgical year! And every year, it can be easy to fall into the idea of Advent being merely birthday planning. We know a birth is coming up on the 25th and we have some preparations to do in order to celebrate that past event well. But I urge us all (yes, including myself!) to approach Advent differently this year. Advent isn't just about what happened then. It's looking around and asking for God's birth into our own specific and universal worlds now. It's seeing the need and asking God to rend the heavens and be born again. And it's recognizing God's presence when indeed God is born.Special thanks to Bridget Zenk for her composition and performing of our intake and outtake music. Thank you for walking beside me as we open God's Word weekly. Know anyone who may enjoy it and benefit from it? Pass it along to them or rate it on your podcast app. Questions? Send them my way at pdjoezenk@gmail.com
In September of 2019, I published an episode on the podcast entitled “Why Wework doesn't work.” This week Wework filed for Chapter 11 bankruptcy protection in NJ. The bankruptcy filing affects the main company, and over 400 subsidiary entities that also simultaneously filed for bankruptcy. The landscape is littered with companies that have made long term obligations and have only secured short term sources of revenue to cover those long term obligations. Wework signed long term leases, many with payment guarantees that stretched years into the future. The only way out of those leases was would be to force a reorganization in a bankruptcy proceeding. The company's balance sheet shows about 16B in assets and $18B in debts. -------------- Host: Victor Menasce email: podcast@victorjm.com
Facts & Spins for November 8, 2023 Top Stories: Researchers report that the personal data of US military personnel is for sale online, the Hunter Biden special counsel denies claims of improper political meddling, Russia and Myanmar begin their first-ever maritime exercises, Israel expects to manage Gaza's security after the war, France plans to send armored vehicles to Lebanon, regional voting begins in two key Indian states, a jailed Iranian Nobel Peace laureate goes on hunger strike, US feds announce a historic bust in Massachusetts, Biden pledges $16B in rail projects along Amtrak's Northeast Corridor, and China announces plans to mass produce humanoid bots. Sources: https://www.verity.news/
Linking the Travel Industry is a business travel podcast where we review the top travel industry stories that are posted on LinkedIn by LinkedIn members. We curate the top posts and discuss with them with travel industry veterans in a live session with real audience members. You can join the live recording session by visiting BusinessTravel360.com and registering for the next event.Your Hosts are Riaan van Schoor, Ann Cederhall and Aash Shravah.Stories covered on this session include -Amadeus and Microsoft are partnering to develop an #AI powered travel related tasks assistant, in conjunction with Accenture.More aircraft orders:- Air France-KLM announced orders worth $16B.- Air Canada ordered 18 new Boeing 787-10 Dreamliners.Bonza airlines in Australia expands into package holidays, and will now enable travellers to book an entire holiday within their app.Ukraine's SkyUp Airlines receives a foreign air carrier certificate from the United States, allowing them to operate flights to that market. UK based TAG travel group acquires Sydney based conference and incentive agent CCM Travel.A story behind the story? Ryanair welcomes the EU's decision to prevent Booking.com from acquiring Etraveli Group.... whilst their CEO Michael O'Leary calls for the resignation of the Gatwick air traffic control chief.New routes: VivaAerobus announced six new routes and five new US destinations.Hotelbeds and Hopper announce a new distribution agreement. Delta Air Lines CEO Ed Bastian admitted this week they "probably went too far" with the recent changes in their frequent flyer program. Incoming Qantas CEO Vanessa Hudson starts her new role by apologizing.You can subscribe to this podcast by searching 'BusinessTravel360' on Google Podcast, Apple Podcast, iHeart, Pandora, Spotify, Alexa or your favorite podcast player.This podcast was created, edited and distributed by BusinessTravel360. Be sure to sign up for regular updates at BusinessTravel360.com - Enjoy!Support the show
Lee Smith believes Donald Trump was the best foreign policy President this country has had in a century. He tells a story described by Amb. Rick Grenell. Trump planned to host the Presidents of Serbia and Kosovo at the White House to negotiate a peace accord. But weeks before the meeting, the Chief Prosecutor for the International Court in The Hague, Jack Smith, had the President of Kosovo arrested and jailed with no clear criminal evidence. Now, as Special Counsel, Smith is targeting President Trump and his aides. This is the Special Counsel selected by Merrick Garland. He interfered in political systems of European countries to jail a foreign President. If people don't think he's looking to do the same thing to President Trump on behalf of Joe Biden's DOJ, they're fooling themselves. This is what Smith does. Ukraine is the place where Biden family corruption intersects with defense industry corruption. This is what Trump was fighting and these are the same people still fighting Donald Trump. The people hunting America First supporters are partnering with our adversaries in Iran and China. We've seen how Joe Biden passed $16B to the Iranians, an anti-American regime and the leading sponsor of terror in the world. The Biden Admin. also keeps pushing money to China. They say we have to appease the Chinese unless we want to go to war with china. And on our southern border, they're working with the cartels, our foreign adversaries. We're dealing with a very sick, pathologically warped establishment right now.GUEST: LEE SMITH, AUTHOR AND JOURNALISTSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Have you tapped into the $16B industry that is influencer marketing? Want to know if research shows your customers are being influenced on social media, and which channels drive the best results? It's time to discuss influencer marketing! Join Phillip as he covers the latest data and industry research on one of the most engaging marketing tactics. Learn more about Sol Insights: solinsights.com Follow Good Morning, Market on YouTube: https://www.youtube.com/@solinsights/ Connect w/ Phillip on LinkedIn: @phillipscroggin
Today opens with some of the opening questions being asked of Attorney General Merrick Garland in the House of Representatives. It is a perfect illustration of how a gifted liar and forked-tongue politician can play the game of being in the hot-seat while never answering anything. Rep. Mike Johnson (R-LA) and Rep. Matt Gaetz (R-FL) both try different tactics to help illustrate how corrupt, biased and weaponized our current Department of Justice operates. Another House investigation reveals there may be even more interference and criminal violations involving the 2020 Biden presidential campaign. Rep. Jim Jordan (R-OH) discussed the latest information in the ever-widening and deepening hole of criminal malfeasance on the part of Joe Biden and his entire Crime Family Syndicate. Miranda Devine has a piece in the NY Post detailing the latest revelation that the FBI lost count of how many paid informants were in the crowd on January 6, 2021. Talk about another “conspiracy theory” coming to light and revealing itself to be true. In House testimony yesterday, former Capitol police chief Steven Sund testified about January 6 and disclosed he had been in contact with then-Speaker Pelosi three times that day. The problem for Pelosi, who demanded his firing in a presser on January 7, stated she never once heard from him. Unfortunately for Pelosi, Sund brought the receipts. Remember when we discussed the Biden regime really released $16B dollars to the world leading state sponsor of terror, Iran, but assured us the money could only be used for food and humanitarian reasons? Well, Secretary of State Antony Blinken just admitted, there is no way to control Iran or how they plan to use that money. Volodymyr Zelenskyy was very shrewd when he spoke yesterday in front of the UN General Assembly. He played the virtue-signaling, Green New Deal card and somehow made Putin's war an act of climate change. You can't make this up! He literally pandered to the West's ongoing hoax in order to gain more sympathy and demand more money. When asked about Zelenskyy coming to speak at the Capitol, Rep. Byron Donalds (R-FL) said there is no money left to give away. He also went on to say the situation is a disaster of Biden's own making. Finally, as promised from yesterday's show, I go into more detail on the flawed climate models Nobel Prize laureate John Clauser just recently brought to light. The fact that every climate model being used for doomsday predictions is based on a cloudless Earth, means every model if flawed beyond measure. In fact, in a calculation he drafted, cloud coverage is between 100 and 200 times more important than CO2. But, there is no money to be made in the cloud business, is there? Take a moment to rate and review the show and then share the episode on social media. You can find me on Facebook, Twitter, Instagram, GETTR and TRUTH Social by searching for The Alan Sanders Show. You can also support the show by visiting my Patreon page!
Today's guest is Michael T. Fay Michael is Chairman of the U.S. Capital Markets Group Executive Committee, Managing Director of Avison Young's Miami office, and Global Director for the Asset Resolution Team Affinity Group. He has brokered over $16B in transactions over 40 years. Show summary: In this podcast episode, Michael Fay discusses the challenges faced by the office sector in the commercial real estate market. He highlights the major reset happening in the office market, with different companies implementing varying approaches to returning to the office. This has resulted in high vacancy rates and uncertainty about the future of office space in major metropolitan markets. Fay also discusses the challenges faced by lenders and borrowers, the potential repurposing of office buildings, and the shift towards industrial real estate. -------------------------------------------------------------- Intro [00:00:00] Michael Fay's Career in Commercial Real Estate [00:01:03] The Major Reset in the Office Market [00:04:01] The resetting of loans and creative solutions [00:09:17] Distressed office properties and new investment funds [00:11:30] Redevelopment of malls and creation of urban centers [00:16:25] Opportunities in the Real Estate Market [00:18:20] Alternative Investments and Interest Rates [00:19:46] Inflation and Commercial Real Estate [00:21:00] -------------------------------------------------------------- Connect with Michael: Email: michael.fay@avisonyoung.com Phone: 305-495-0003 Linkedin: https://www.linkedin.com/in/themichaeltfay/ Web: https://www.avisonyoung.com/professionals/-/ayp/view/michael-t-fay/in/miami Connect with Sam: I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns. Facebook: https://www.facebook.com/HowtoscaleCRE/ LinkedIn: https://www.linkedin.com/in/samwilsonhowtoscalecre/ Email me → sam@brickeninvestmentgroup.com SUBSCRIBE and LEAVE A RATING. Listen to How To Scale Commercial Real Estate Investing with Sam Wilson Apple Podcasts: https://podcasts.apple.com/us/podcast/how-to-scale-commercial-real-estate/id1539979234 Spotify: https://open.spotify.com/show/4m0NWYzSvznEIjRBFtCgEL?si=e10d8e039b99475f -------------------------------------------------------------- Want to read the full show notes of the episode? Check it out below: 00:00:00:01 - 00:00:23:10 Michael T. Fay Only about 50% of office buildings can really only be repurposed for multifamily or some other use outside of office. So what's interesting in what I'm hearing and what I'm starting to see is, yes, the foreclosures are coming in, but there's going to be, what I would say, a proverbial kicking the can down the road. What does that look like? 00:00:23:18 - 00:00:24:17 Michael T. Fay Welcome to the How. 00:00:24:17 - 00:00:47:14 Sam Wilson To Scale Commercial Real Estate Show. Whether you are an active or passive investor, we'll teach you how to scale your real estate investing business into something big. Michael Fay is chairman of the US Capital Markets Group Executive Committee. He's the managing director of Allison Young's Miami office, and he's also the global director for Asset Resolution and Team Affinity Group. 00:00:47:22 - 00:00:54:18 Sam Wilson He has brokered over $16 billion in transactions over the last 40 years. Michael, welcome to the show. 00:00:55:14 - 00:00:57:09 Michael T. Fay Thank you so much. It's great to be here today. 00:00:57:12 - 00:01:06:18 Sam Wilson Absolutely. The pleasure is mine. Michael, there are three questions I ask every guest who comes on the show in 90 seconds or less. Can you tell me where did you start? Where are you now and how did you get there? 00:01:08:12 - 00:01:30:14 Michael T. Fay Started commercial real estate when I was 13 years old. Honestly, I was 13 was the time when I wanted to really think about real estate. It was a great way to watch. Watch. It happened with some friends of ours. I started in commercial real estate 20 when I was 20 years old, actually this month, July 20, 23. It's been 40 years, so 40 years in the business right now. 00:01:31:10 - 00:01:49:03 Michael T. Fay I reside in Miami, Florida and a couple other places. It's really it's been a great business. It was involved with a bank and some other really great entrepreneurial ventures in commercial real estate. Just allows such a purview into so many businesses and things going on. So that's why I feel blessed to be here. 00:01:49:07 - 00:02:07:00 Sam Wilson Yeah. My gosh, that's that's a heck of a career and a heck of a job. I mean, I'm thinking just the amount of change that you went through from 83 to 0 three. Right. Like that was that was incredible. And then to see that, then turn and then do it again for the next 20 years, that's a lot. 00:02:07:01 - 00:02:21:01 Sam Wilson That's a lot to compress here into a 15 minute podcast, and I'm sure we won't even begin to scratch the surface. Tell me, what are some things you know that you're working on right now that you said, hey, this is this is something I'm really excited about in the commercial real estate space. 00:02:22:24 - 00:02:46:20 Michael T. Fay So right now, just to go back to what you just said and these 20 year segments, I think I nine different downturns. So that was from the RTC days of the nineties to the Russian ruble crisis to the war and the Great Recession of oh eight and of course, the pandemic and today our great inflationary the so, you know, we see these and there's a couple more in between I think today. 00:02:47:04 - 00:03:20:13 Michael T. Fay What's exciting is that they're really a tale of many cities and it depends a lot for the country. There's all sorts of opportunity that goes on in different product types, whether it's office for a retail, multifamily development deals. You know, we do some of the largest, largest sales of development sites, especially down here in South Florida, out working on the $1.2 billion sale for Dante, the Malaysian gaming company, which we exclusive represent where the middle of several offers, all that which we're locking in on right now. 00:03:21:03 - 00:03:55:13 Michael T. Fay We have other larger development sites that we do work with the courts. We do work with the special servicers, which I'll get into in a moment on the curbside. But, you know, I would tell you, each area of the United States is got its own opportunities and weaknesses. But I think the biggest weakness that we're seeing across the whole country, South Florida being the exception or as the office for the office, the return to office, the amount of office buildings that are experiencing the distress, the higher vacancies of digital. 00:03:55:14 - 00:04:09:10 Michael T. Fay Right now, we're going to see one of the largest resets, I think all the office product that we've ever seen across the country. This goes for all the major metropolitan markets to CBDs as well as even tertiary markets. 00:04:11:00 - 00:04:16:20 Sam Wilson Major resets. What are some things that you're seeing when when you say major reset, what comes to mind? 00:04:18:00 - 00:04:37:23 Michael T. Fay So a major reset really is what's the office what is the office going to look like? What does office space look like for the next two years, five years, ten years, 20 years? How our employees work, how are people coming back to the office? So a lot of the work around the office, there's different, you know, different companies of work to work differently. 00:04:38:17 - 00:05:07:13 Michael T. Fay You know, a lot of groups have got a three day work week, a lot of groups are doing a full time. You got to come back to work. So some groups and companies are having a specified amount of days and weeks and vice versa. So I think each company is going through that. What's bad and what has been very tried is the owners of these office buildings are experiencing these companies say we don't know what we want. 00:05:07:16 - 00:05:31:10 Michael T. Fay So therefore there's a large amount of uncertainty. How much space am I going to be? What does the amenities look like? What what do what do employees want to come back to? Do they feel safe? Do they feel secure? Why? Why should people come back? I already said, you know, our biggest thing is camaraderie, communication, collaboration and partnership. 00:05:31:10 - 00:05:53:23 Michael T. Fay And so we kind of drive off of those four pieces of why we're back in the office and what we're doing in the office. But a lot of companies feel differently. So what, in my opinion, is as we go through these this thought process, you're now hitting on large vacancies. But look at New York, you're probably sitting at a 32% vacancy rate. 00:05:54:21 - 00:06:20:09 Michael T. Fay But this that's not uncommon. There's a lot of other areas you could go to Chicago, you go to Houston, you could go to L.A., you can go to all these other major markets or having resets, if you will. So that's that's the big reset. The second part of the reset is really what are the lenders doing all these large office portfolios and or individual assets across the country? 00:06:20:09 - 00:06:43:14 Michael T. Fay So when you sit there and have all these groups that are trying to figure out their load, so we've got rising inflation and rising interest rates, interest rates right now or at the top, as we've seen, that is put a major downward pressure on a lot of these groups that have got what we call maturing loans. These are loans that are maturing during this period of time, which is really creating, again, more downward pressure. 00:06:43:14 - 00:06:48:03 Michael T. Fay So we've got these two confluences coming in and really created this downward pressure. 00:06:49:08 - 00:07:10:07 Sam Wilson What so what are lenders let's talk about that for a minute. What are lenders doing and what are borrowers doing their own office space? I mean, we haven't and forgive me if I'm wrong, tell you. Tell me if I'm wrong, rather. But I don't know that we've seen mass foreclosure in the office space yet. Is that is that the case? 00:07:10:12 - 00:07:44:00 Michael T. Fay And so you're asking. Great question. So I'm going to break it down to basically two or three areas. So what what's happened is I wrote the asset resolution revisiting. We've got 140 different people across the US and the major market and tertiary markets and we are all hyper focused on helping lenders. That's is the special servicers, the banks, life insurance companies and even Bassetti lenders work through any issues that they have during this time. 00:07:44:00 - 00:08:07:00 Michael T. Fay And by the way, separating office for 1/2, it could be an issue of a shopping center, could be an issue on a mall. Right. These things. And by the way, it's also depends on what part of the market you're to see the market, the country. So we're seeing that under the scenario of the office buildings, I will tell you there's been some really large major national banks. 00:08:07:17 - 00:08:35:17 Michael T. Fay Those banks peeled back many, many borrowers after the 2008, 2009 crash. And they would have call it 90,000 borrowers. They scaled it down to 10,000 borrowers. The other 80,000 borrowers went up to community banks. They went off to regional banks. So they the large banks spread the risk. But what's happened is the call it the 10,000 customers they kept were the large ones. 00:08:35:17 - 00:09:03:03 Michael T. Fay Those were the 150, 253 or $400 million credit facilities. And there's an old saying, little kids, little probes, big kids, big problems. So we've got that big kid, big problem. That's affecting a lot of the servicers and the banks. So when we think about the office buildings themselves, that's where the resets come at it. So you've got maturity and you've got vacancy issues and you've got return to work and what does it look like? 00:09:03:20 - 00:09:31:15 Michael T. Fay So I read a statistic probably six months ago. All the office buildings, only about 15% of office buildings can really only be repurposed for multifamily or some other use outside of office. So what's interesting in what I'm hearing and what I'm starting to see is, yes, the foreclosures are coming in, but there's going to be, what I would say, a, the proverbial kicking the can down the road. 00:09:31:15 - 00:09:56:13 Michael T. Fay What does that look like? The kicking the can is really to say, okay, we're going to extend your load, we're going to reset the load. We're going to do a lot of different things. But it depends on your servicer that looks a little different than if you're a bank and so you've got these different ways. So I think the resetting is they're going to get creative and state listen, the property was worth $100 million. 00:09:56:13 - 00:10:17:00 Michael T. Fay The loan was 60 million. So now all of a sudden the property is worth 60 million. So does the bank want it back? The bank may say, listen, borrower put in 10 billion or let us work out a short sale. Effectively bring in a new buyer that's going to put in ten or 15 million. That will keep the of the 60 billion. 00:10:18:06 - 00:10:39:24 Michael T. Fay There's going to be a lot of creative ways. Now, the problem is banks handle it differently than servicers because you've got bondholders on the service side, you've got credit default swaps, you've got a lot of other what I would say pressure points in that as opposed to a bank which the banks making decisions based on their capital and their earnings for the actual quarter. 00:10:41:08 - 00:11:08:19 Sam Wilson I know that's a that's a really, really interesting scenario that you're painting there. So 85% of office space will forever be office space is what I'm hearing. You're saying we can only convert 15% of it if they're kicking the can down the road, trying to get creative, trying to work out strategies, or even doing cash in refinancing is I mean, how how are borrowers doing that? 00:11:08:19 - 00:11:17:09 Sam Wilson Hey, come up with ten or 15 million bucks for an office space maybe that's vacant or is already underperforming like get that. Well, million bucks from where? 00:11:18:02 - 00:11:43:04 Michael T. Fay So I will not name names, but you can figure out the names, the names of all the big investment houses and investment groups that have got all this product in their portfolios. They're either selling it the major discounts and getting out or to handing it back. Right. But they're giving it back. Now, what's interesting, those same groups are also creating new funds. 00:11:43:20 - 00:12:07:20 Michael T. Fay Okay. Investments, funds to go back and buy distressed office at a reset number. And that's what's going to end up happening because it's the only way to look when you when you think about offices and I'm talking about class A trophy assets were you and I don't care if you use New York City just because everybody's picking on New York City today. 00:12:07:20 - 00:12:35:07 Michael T. Fay You know, somebody said it was called New Glut City, you know, glut of office space. I read that an article somewhere, right. 88 with the imagination of having corporate tenants on long term leases forever. And it's very hard to move. And all of a sudden today it's changed, COVID changed that whole thing. So now these corporations, as I said, are working differently and their employees are working differently. 00:12:35:07 - 00:13:06:16 Michael T. Fay People are working differently. So therefore, that whole that whole system and that whole business plan has really changed. So it's forcing a reset, which I keep saying at it's forcing a different look. And the way to do that is, is to really get real with what the situation is and handle it. So, you know, all these groups are having properties back, but they're also figured out new funds, distressed funds or opportunistic funds to go back and say, how do we work on the reset and make this better? 00:13:06:24 - 00:13:15:19 Sam Wilson Absolutely. I mean, it's it's the it's the right time to buy. It just kind of seems like I mean, obviously, these large companies can pull this off. 00:13:16:06 - 00:13:45:14 Michael T. Fay But let me say one thing, which is really think you will find believe it or not, and I'm not suggesting that, but you will find some major metropolitan cities in the CBD, areas where you may say this office building will no longer be there. They're going to figure out either if they can't repurpose it, which is about 50%, you may see these buildings getting pulled down and then having a brand new build where we are seeing this in Miami or land values of Miami are continuing to increase all the time. 00:13:45:21 - 00:14:00:11 Michael T. Fay And, you know, we're bordered by Biscayne Bay and the Everglades. So the the amount of land I mean, you can look it doesn't matter if you're Chicago. It doesn't matter if you're a New York, L.A. It's it's really, you know, land constraints that drive everything. 00:14:00:16 - 00:14:17:23 Sam Wilson Yeah, absolutely. Absolutely. But on the buy side of things, I mean, I was talking to somebody else here on the show recently and they were saying, you know, hey, we're buying office space in New York City as fast as we can possibly get our hands on it simply because they're paying three or 400 bucks a square foot. When he goes two, three years ago, we're paying nine. 00:14:18:21 - 00:14:20:07 Michael T. Fay Or 1100. Right. 00:14:20:16 - 00:14:26:22 Sam Wilson Right, right. And he goes, even if we're just even if our plan is to buy it and sit on it, like, okay. 00:14:27:09 - 00:14:44:15 Michael T. Fay That's where you get to. But, you know, look, you get figure out today. So office buildings are very interesting. You have cost of capital, so you've got the interest rate, then you've got debt improvements and certainly a tenant rep, at least high commissions, those are all very, very big. The old adage was make it disappear, turn it off. 00:14:44:15 - 00:15:04:15 Michael T. Fay Owning an office building as you own it, but you make all your money off the sale, sign it. And that's what it was for years, you know. Right, because it's a cap asset class. It was also considered one of the safest asset classes for years. And and now, you know, multifamily, you know, it's paid carpet. Thank you very much. 00:15:04:22 - 00:15:29:14 Michael T. Fay You know, I can raise rents all year long as leases rule. So that's why multifamily continues to still be an asset class. No other asset class is just the back end of that industrial. You know, when you think about the pandemic pressing forward, the use of Internet retail sales, it went from that call it seven to 8% to 15% in a period of two years. 00:15:29:18 - 00:15:58:03 Michael T. Fay That was almost like 10 to 12 years of growth compounded into only two years. And when you think of the logistics that's going on and the distribution centers and everything else that happens, that's what you know, you look at great companies like Prologis and these other larger groups of these larger industrial groups that continue to build and service the retailers from that standpoint, but also the last mile logistics, which is really becoming interesting. 00:15:58:11 - 00:16:01:05 Michael T. Fay So Industrial Can has really got it. 00:16:01:05 - 00:16:22:23 Sam Wilson Absolutely does. Yeah. It's very, very, very interesting to watch kind of how all of these interplay and see which ones are really doing well and which ones are struggling or plateauing. And again, you know, I've heard it said since I got in real estate a decade ago, you know, that real estate is local. I mean, I think I think I'm hearing that from you in the South Florida market. 00:16:22:23 - 00:16:24:15 Sam Wilson You guys are having a. 00:16:25:15 - 00:16:50:13 Michael T. Fay It's it's it's local in a lot of ways. But when you start to look at industrial industrials more regionalized, if you will, only because of what your handling of retail is local. But it depends also what you're doing. But, you know, when you look at the Internet sales for certain retailers and that experience becomes a whole different game and how that's played. 00:16:50:13 - 00:17:14:08 Michael T. Fay So look, you know, I think, you know, good neighborhood retail you know anchored retail's good the malls we are having several malls right now we're in a couple of foreclosure malls. You know, we're image the malls like the Broward Mall here in Fort Lauderdale for Rialto. It's an incredible mall. And it's got such an unbelievable upside of development and a replay there. 00:17:14:08 - 00:17:37:20 Michael T. Fay So, you know, we're in the middle of doing that. We're going to have a call for offers here in the next call. It probably right after Labor Day weekend. But my point being is this is the transformation of malls and creating what I would say, urban urban centers, if you will, that will have residential redone, retail, destination, entertainment, things of that nature. 00:17:37:20 - 00:17:56:19 Sam Wilson Yeah, those are cool projects to to see come around. I mean, in malls, my gosh, the amount of land those take up and the redevelopment front there it's saying that sounds like that's an awesome opportunity. And I looked at a project here recently, I think it was in Cincinnati, similar idea. I mean, just an enormous undertaking. And it was. 00:17:56:19 - 00:17:57:08 Michael T. Fay Absolutely. 00:17:57:12 - 00:18:19:00 Sam Wilson All all the the the the redevelopment of an existing mall. What are some other opportunities do you really see right now? I mean, you get to see things from a lot of different angles. But when looking at the real estate, commercial real estate landscape kind of across the country, what's something you see is you say, hey, there's excellent opportunity in what. 00:18:20:15 - 00:18:45:06 Michael T. Fay I, I still think, you know, if you're looking at real estate, you can look a lot of these, right? Some of the reach of this public sector of the stocks. I think you could follow some of those groups and probably get some interesting buys from that standpoint as this reset is taking place, whether it's an office read or industrial read or a retail, whatever they may be or even a multifamily, I think you'll start to see some of those play. 00:18:45:06 - 00:19:09:09 Michael T. Fay So if you're not buying real estate, you could participate from that standpoint. I think also, you know, the crowd source funny continues to be some people are doing that. But you know, again, you've got to be careful with the sponsors. You've got to work with the right sponsors. You know, you've got to watch what's going on to see how they handle their assets or what they do. 00:19:09:23 - 00:19:32:17 Michael T. Fay You know, commercial real estate really for years and years and years, you know, those capital intensive, you will have a large slug of equity. You need to be able to apply your loans. So right now, the opportunity, I think, is going to be watching the interest rates. As for the next two years and the fallout, remember, stock market goes down the fast as it comes back, as fast as real estate goes down. 00:19:32:17 - 00:19:56:10 Michael T. Fay Really slow and it takes a while for it to come back. So right now we're on the downward slope in a lot of these areas that I think we might add some decent foreclosures or short sales or motivated sellers. What are the key components here that I think we are seeing for the first time in a long time was interest rates for the last call it since the Great Depression. 00:19:57:18 - 00:20:31:17 Michael T. Fay The Great Recession of 2000 ignited. Interest rates were low. So you had you couldn't really go to alternative investment, to the stock, to real estate. Right now, you're seeing banks pay 5%, 6%. Look at the treasuries. There's alternative investments that you can go into and get that call at four and a half to 6% without much benefit. So the interesting part is people maybe say, I've done I want to move into something else so you'll see some other sales happen from that standpoint as well. 00:20:31:17 - 00:20:42:03 Michael T. Fay So I think the alternative, because interest rates have gone up, it creates a different sliding economic opportunity on both sides for sale or buy. 00:20:42:10 - 00:20:59:10 Sam Wilson It really does. It really does. Let's talk about inflation for just a minute. I mean, it's one of those things, you know, what your thoughts around a a diverse portfolio that is inflation protected inside of commercial real estate. What's the what's a play you'd recommend? 00:21:00:16 - 00:21:20:00 Michael T. Fay Well, I think it's anything I mean, a lot of a lot of people were kind of going back, you know, for us, what we look for work with clients, you know, if it's a if it's a retail center, right, and and there's fixed there's fixed, Bob. So that without CPI increases, you know, you pretty much you're getting you're pretty much locked. 00:21:20:00 - 00:21:37:22 Michael T. Fay It it is what it is. So as inflation goes up and you're other things go up, you know, the value of the asset is either going to stay the same or go down. So I think, you know, looking for opportunities where there CPI increases or tenants rolling over, you can have these resets the by the way, that's got on industrial right now. 00:21:38:12 - 00:22:02:19 Michael T. Fay But a lot of these areas where they had all these leases or that industrial because it's become such a hot commodity, you can end up raising the rates that you're getting on your decimal space. And we've seen some increase, you know, increased unbelievable rates. Same thing with multifamily, multifamily, because it rolls every year. You can kind of catch up your rents to what your expense or inflation. 00:22:02:19 - 00:22:17:00 Michael T. Fay So, you know, I think, you know, there are several markets within the country that I've seen that 10 to 25, 27% multifamily rental rate increases over the last couple of years. 00:22:17:14 - 00:22:26:00 Sam Wilson Right. Yeah. It sounds like to summarize, you'd say anything that you can reprice in a shorter time frame than other things have. Maybe be the the. 00:22:26:00 - 00:22:36:20 Michael T. Fay Absolutely, absolutely. No, no. That was a problem with office buildings. Office buildings. They were locked in with certain fixed rates and weren't going anywhere while it was safe. Remember, high risk, high return, low risk, low return. 00:22:37:01 - 00:22:48:09 Sam Wilson Right, right. And it's funny because in in that even those office spaces were locked in. It was almost you thought it was lower risk, but now it looks like it was a higher risk in the end deal there. 00:22:48:09 - 00:23:09:18 Michael T. Fay Well, you know, but but but when you have two black swan events of the pandemic and then the global inflation that we had, which was pressed on by other global logistics and things of that nature, you know, you would have never thought that. I mean, you can look at the different the different graphs of each country and where it stands, where it is. 00:23:10:00 - 00:23:23:13 Michael T. Fay It's just interesting to see. I mean, it was totally a global pandemic, but it's been a global inflationary issue. So those are the two Black Swan events within a two year period, which is really what's at downward pressure. 00:23:23:19 - 00:23:43:06 Sam Wilson Absolutely. Absolutely. This has been great. Michael, thank you for taking the time to come on the show today. Certainly learned a lot from you. I love to get your current kind of state of the market insight. Loved hearing about office space, kind of where you see opportunity on that front. You guys are working on some absolutely very cool projects and again, thank you so much for your time. 00:23:43:14 - 00:23:48:11 Sam Wilson If our listeners want to get in touch with you and or learn more about you and what you do, what is the best way to do that? 00:23:49:07 - 00:24:03:24 Michael T. Fay So please you email me at Michael Dot say at Abyss and or I'm always available by cell phones. 3054950003. That is service. 00:24:04:01 - 00:24:19:16 Sam Wilson You are a bold man, sir. I don't know that I would put my phone out there if I were you, but thank you very much. For those of you listening, that's an incredibly generous offer from Michael to put both his email and his phone number out there to get in touch with him. Michael, thank you again for coming on the show today. 00:24:19:16 - 00:24:21:00 Sam Wilson This was an absolute blast. 00:24:21:15 - 00:24:25:22 Michael T. Fay My pleasure. It was great. Thank you. Great question. To the great top three. Did have a great one. 00:24:26:03 - 00:24:47:13 Sam Wilson Hey, thanks for listening to the How to Scale Commercial Real Estate Podcast. If you can do me a favor and subscribe and leave us a review on Apple Podcasts, Spotify, Google Podcasts, whatever platform it is you use to listen. If you can do that for us, that would be a fantastic help to the show. It helps us both attract new listeners as well as rank higher on those directories. 00:24:47:13 - 00:24:50:19 Sam Wilson So appreciate you listening. Thanks so much and hope to catch you on the next episode.
The $16B acquisition of Flipkart was the largest in Indian tech history. Balaji speaks with Flipkart founder/CEO Binny Bansal on how he built the company from scratch when Indian startups weren't even a thing — and how Flipkart's rise parallels the rise of India itself.
Dow closed lower today, dragged down by Disney. The S&P 500 also fell while the Nasdaq ended in the green. 248 Ventures' Lindsey Bell and Annandale Capital's George Seay talk today's market action. CFPB Director Rohit Chopra, who sits on the FDIC Board, discusses the FDIC's proposal to replenish its $16B hole in deposit insurance after a string of bank failures. He also talks the CFPB's new guidelines for personal financial data. Unity Software popped after a strong quarterly report; CEO John Riccitiello discusses what's next. Andreessen Horowitz's Katherine Boyle joins on the firm's new investing in “American Dynamism” fund and why founders are excited to invest in companies that move America's institutions forward. Plus, MoffettNathanson's Michael Nathanson talks the Disney bull case after its worst day in six months.
Ms. Wiley is the Chief Operating Officer and Chief Development Officer of 100 Women in Finance. She leads the internal operations and development functions for the organization and provides direction to 500 volunteer practitioners globally. The organization, which has registered members in 32 locations, is focused on empowering women in the finance industry and inspiring the next generation of pre-career young women. Prior to joining 100 Women in Finance, Ms. Wiley was the Chief Operating Officer and Head of Client Engagement for Morgan Stanley's Private Markets Solutions Team, which manages over $16B in client assets in private equity portfolios for a wide range of global clients. Ms. Wiley's multi-disciplinary investment management experience includes investor relations, business development, impact investing, product marketing, product strategy, product structuring, risk management, finance and accounting. Ms. Wiley is a Certified Public Accountant and holds the FINRA series 24, 7 and 63 designations. Ms. Wiley graduated from Villanova University in 1997, where she received a degree in Accountancy, with honors. She earned a Master of Arts in English Literature from the University of Pennsylvania in 2006, also with honors. Ms. Wiley lives in suburban Philadelphia with her husband and daughter and, in her spare time, is an amateur drummer and vocalist with the School of Rock.Laurel Mintz, founder and CEO of award-winning marketing agency Elevate My Brand, explores some of the most exciting new and growing brands in Los Angeles and the US at large. Each week, the Elevate Your Brand podcast features a special entrepreneurial guest to discuss the past, present, and future of their brand.
Today's headlines: Kansas City Chiefs won the Super Bowl 38-35 against the Philadelphia Eagles last night. An unidentified object was shot down Friday afternoon over Alaskan airspace, and one in Canada on Saturday. The DOJ special counsel who's overseeing the January 6th investigations into Donald Trump subpoenaed Mike Pence to testify. A newly released letter from the Florida Department of Education to the College Board outlined the repeated discussions that both parties had throughout the past year regarding the curriculum change. The US Agency for International Development announced that it will provide $85 million dollars in funding to Turkey and Syria. Finally, we have another congressional representative with questions about their alleged background: Newly elected representative Anna Paulina Luna. Resources/Articles mentioned this episode: CNBC: Here's how much Americans plan to spend on the Super Bowl this year ESPN: Survey: Record 50.4 million adults to bet $16B on Super Bowl NY Times: What is ‘He Gets Us'? NBC: U.S. shoots down 'high-altitude object' over Alaskan airspace, White House says NBC: Trump lawyers expected to fight Pence subpoena on executive privilege grounds CBS: FBI conducting search of former Vice President Mike Pence's home NY Times: Florida Officials Had Repeated Contact With College Board Over African American Studies BBC: US pledges $85m for Turkey-Syria earthquake relief Washington Post: The making of Anna Paulina Luna Host: Sami Sage Morning Announcements is produced by Sami Sage alongside Amanda Duberman and Bridget Schwartz Original Music and Editing by Brandon Lee Bjornson
Vance Spencer is the Co-Founder of Framework Ventures, a VC firm that got its claim to fame by sticking around during the 2018-2020 bear market, going all-in on DeFi before we had a name for it, and taking risks and finding gems while everyone else fled the industry. This is Vance's 4th appearance on Bankless, because in addition to being a chad VC, he's also adept at measuring the markets and understanding metas, which is what we're looking to do here today. Bitcoin is down 66% from the top, but up 50% from the bottom! ETH Down 66% from the top, but up 75% from the bottom! Solana down 90%, but up 200% from the bottom! Meanwhile, Ethereum's L2 ecosystem is HOT. OP is hitting ATHs. RPL is at its highs in ETH terms, nearing highs in USD terms… Aptos is somehow at a 16B valuation. Question: Where are we??? Vance has the answer. ------ Crypto Tax Calculator | Free Crypto Tax Calculator https://bankless.cc/CTCpodcast ------ JOIN BANKLESS PREMIUM: https://newsletter.banklesshq.com/subscribe ------ BANKLESS SPONSOR TOOLS: KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://bankless.cc/kraken UNISWAP | ON-CHAIN MARKETPLACE https://bankless.cc/uniswap ️ ARBITRUM | SCALING ETHEREUM https://bankless.cc/Arbitrum EARNIFI | CLAIM YOUR UNCLAIMED AIRDROPS https://bankless.cc/earnifi ----- Timestamps: 0:00 Intro 6:24 Vance's Read of the Market 8:10 Ranging 9:40 Indicators 13:00 Apathy Market 15:30 Trends 18:41 Institutions 22:45 Is FTX a Permanent Stain? 25:45 Aptos 29:30 Alt-L1s 35:05 Private Markets 37:24 Crypto Gaming 41:15 Future of DeFi Tokens 43:39 Macro & Recession 45:40 ETH/BTC 49:40 Alt-L1s Over? 51:05 2023 51:50 Closing & Disclaimers ----- Resources: Vance Spencer https://twitter.com/pythianism ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://www.bankless.com/disclosures
Kathleen opens the show drinking a Festivus Holiday Ale from Market Garden Brewery in Cleveland. She reviews her weekend in Cleveland, Warren, and Cincinnati OH, stopping by her favorite her bars The Harbor Inn and Mount Adams Bar & Grill, and the fantastic crowds at the shows. QUEEN NEWS: Kathleen announces that Queen Dolly has received $100M from Amazon's Jeff Bezos, to bolster all her philanthropic initiatives. “GOOD BAD FOOD”: In her quest for delicious not-so-nutritious food AND in continuing her search for the best Ranch, Kathleen samples Hartville Kitchen Ranch Dressing from Ohio, Cincinnati's local Grippo's bbq potato chips, and Cheez-It Buffalo Wing crackers. UPDATES: Kathleen gives an update on Mattress Mack's historic World Series bet, seven new Banksy murals appear in the Ukraine, the Van Gogh painting “The Sower” is vandalized with pea soup, animal dealer Mimi Erotic surrenders, Gisele buys a Miami mansion directly across from her ex Tom Brady, and Elon changes the Twitter blue checkmark strategy, “HOLY SHIT THEY FOUND IT”: Kathleen is amazed to read about the discovery of an ancient Christian monastery off the coast of the UAE.FRONT PAGE PUB NEWS: Kathleen shares articles detailing the collapse of crypto exchange FTX and the status of founder Sam Bankman-Fried's $16B fortune questioned, a T-Rex skull is found in South Dakota, Casey Anthony resurfaces in a new Peacock docuseries, Iowa may have a serial killer, John Wayne Gacy's sinister clown painting sells for thousands at auction, Tyson Foods CFO is arrested for passing out in a stranger's house while intoxicated, and an extremely rare black Canadian lynx is photographed for the first time. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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