July 9 2023
- No JCal - BG in
- No producer
- Besties hacking the pod together
- Meta launches Threads
- 30 million app downloads overnight
- Almost like a Twitter clone
- According to rumors they built this in 6-9 months with 20 people
- Meta pace of innovation is really high right now
- Facebook is heavy on videos and pictures, but light on text - so this could be a way to get that
- Facebook invented photo tagging and newsfeed
- So they need something new again - Threads is a copy, has nothing new yet
- TikTok did well because it was fundamentally new
- Standalone it isn’t great but unless it integrates into Instagram
- 30million signups is 3% conversion rate from 1B users in instagram
- Chat AI interest in decline
- ChatGPT usage is falling - apparently also Bard
- Are people bored or did students stop using it because they’re on holiday?
- These are early days - things will change rapidly
- Fed meeting minutes
- Might raise rates later in the year
- 450K new jobs created - ADP jobs report
- 1 year ago people didn’t want to work because of covid and getting stimulus checks
- So we might be getting a soft landing?
- US might have done the best job of developed nations of keeping inflation under control
- Druckenmiller predicted hard landing in second half of the year - lets see if that happens
- Real estate folks donate to politicians apparently
- Britain is now the only major economy that has rising inflation
- Losing out on benefits of being part of Europe
- But Germany economy is also in trouble as well as wider Europe - but they don’t have same levels of inflation
- Florida immigration jobs status
- This is going to hit lots of undocumented immigrants
- Apparently 7 million illegal immigrants have come through the southern border since Biden entered office
- Balance between labor requirements and immigration
- Average low skilled immigration household gets $30K from govt in assistance - and pay only $10K in taxes
- $20K gap
- Does the economy grow by > $20K?
- Can’t have open immigration policy with generous benefits policy
- Admitting low skilled immigrants adds wage pressure for Americans who are at the lowest end of the ladder
- Its unfair to Americans to be held hostage - no border control until comprehensive immigration reform
- 40-50% of SV unicorns’ founders are immigrants or first generation americans - so legal high skilled immigration is good
- Canada jumped on the opportunity to get H1Bs
- Chinese Balloon issue
- The correction was a back page correction for a front page story
- The balloon was innocuous
Comments