Bitcoin’s Rally, Elon’s xAI Fundraising, and Alaska Airlines Acquires Hawaiian | Prof G Markets

[@asafprivman]

31:45 General motors also has a f150 lightning? That's Ford. Reasons to raise money for xAI: 1. AI talent doesn't want stock in Twitter 2. Musk has too much debt and needs outside capital 3. Microsoft has the same structure of giving data and compute for chatGPT , I didn't hear profg complain about that deal....

[@aaronrey2658]

Most don't understand the constraints on the airline industry in the US. Its key to understand that airline hubs/terminal slots are not a marketplace, they are fixed contracts which constrains the customer design of routes. There is a fundamental network path route problem. Airports/terminal slots/Hubs, are like taxi medallions or NJ liquor licences where you have cartel like pricings at in the hubs or airports for access rates, routes, terminal slots. All Airlines can do is spend to upgrade plans, UX/CX, quality operations.. all this is debt financed as they are constrained by the hubs/terminal slots access which prevents their ability to grow top line.

[@mastradamus1]

The custody riff at the end was hilarious

[@LevelofClarity]

The dirty jokes at the intro are freakin hilarious 😂

[@sayedabrar3013]

Where can i find the link to sign up to the webinar?

[@Stockform]

Where are the closed captions? At least let KZbin do auto generate

[@luisfernandoalves2748]

Ed as always with the most dense takes possible. Jeeeez.

[@meccanised]

yeah, it's so cringe.

[@MetaPhysStore0770]

I just heard "techno-surveilence" on CNBC. I see more and more young people HATE day-to-day technology, they feel its a burden not a benefit, like auto costs skyrocket forced to buy cars with "chips" that nobody wants, except the auto industry in surveilance of customers. Fact, average age of video gamers are 35 -45 years old. Corn harvesting combines now have all the harvest info sent to "somebody" and theres no way to shut it off, same with new semi trucks. Its all about surveilance not about benefiting customers.

[@mostok9999]

The intro music needs more bongos. Prices in the global hand drum sector have increased over 42% since 2020 with no relief in sight. How will this intro music fare in the coming quarter? Stay tuned for more.

[@learningisfun2108]

Captions are appreciated. Please include. Thx.

[@Olli4]

Funny how you guys talk about AI washing right after the Google Gemini announcement which was proven to be a case of AI washing itself. (The whole video was constructed, Gemini did not do anything in realtime, and Google admitted as much in the description of the video). Maybe you guys did not know that yet when recording, but it seems like Google is still running behind on OpenAi/Chat GPT Ed ;-) )

[@sanesanyo]

I would agree with you on this one even though I am a Google shareholder. Although, it wasn't 100% AI washing as Alphacode2 did blow my mind and I think it's the next iteration in how coding is going to be. revolutionized.

[@meccanised]

LOL- yes nailed it.

[@tonywilson4713]

Aerospace Engineer here: I actually work in industrial control systems automation and robotics. *MOST ENGINEERS think the whole AI thing is BULLSHlT.* I work in the systems that run stuff - factories, mine sites, water treatment plants,.... etc. and we've had algorithms that could do what's now referred to as learning for decades. The thing is we never called it "learning" or "self learning" *AND MOST OF ALL NEVER THOUGHT IT WAS THINKING IN ANY WAY.* We do refer to "teaching" in things like robotics but its not like we stand there and talk to the robot. We MANUALLY drive the robot to a location and get it to record where it is and how its orientated and refer that to "teaching the robot." Over in things like pressure and temperature control we have algorithms that statistically analyse what's happening and then adjust the PARAMETERS to make it work better. We occasionally refer to that as learning but more often "self tuning." *BUT* if I told the average person that I write software that learns how to run the process better over time then its easy to give the impression that its software that thinks rather than software that crunches numbers and over time comes up with better numbers. I had neural nets explained to me back in the mid 1990s when they thought they would change things and change them a lot. We looked at it for our sort of work and NOBODY could find any reason to replace what we had with neural net algorithms. The problem was working out the parameters to make the neural nets work. What's actually changed is the level of processing power that can now be used to work out those parameters and that process is (like other things in engineering) referred to as "teaching" but like other things in engineering its NOTHING LIKE teaching a human. That's why most engineers dislike the way AI is being promoted and we are NOT ALONE as I have seen a few AI programmers who really dislike how its being promoted.

[@sjpeters64]

@@tonywilson4713 AI engineer here. Don't get confused by a tremendous amount of marketing spin. At this point in its evolution, AI is little more than an extremely promising toddler. But it is a toddler who mastered Go decades before it was predicted, and it is a toddler who mapped 200 million protein folds centuries before it was thought possible with previous methods. Now, it is rumoured that P=NP may be solved. And yes, most publicly available models have trouble with basic text in images or arithmetic. Look closer at the hard problems and try to ignore AI washing and other spin. AI technology (mostly foundational models and algorithms) has made tremendous advances in the last year (which is all the development cycle the general public really sees despite decades of investment), but there is a long way to go.

[@BurningQuestionLLC]

HILARIOUS

[@ezyryder11]

10:36 just tax capital gains and dividends as ordinary income. Simpler that way, we can get rid of the Qualified Dividends and Capital Gain Tax Worksheet on Line 16 of the 1040.

[@bmwn-am86]

How did they praise Google’s staged demo so much? What kind of “research” did they do?

[@NoBellTrading]

Love you Scott. Even though you're Elon takes make me cringe inside.

[@NoBellTrading]

Elon is a GOAT. Undeniable.

[@anthonybianue9206]

Guys Gemini was faked. When did you record this

[@aconsideredmoment]

The key difference in the Moore case/non-realized income taxability seemed to be the degree of control a "person" had over whether or not the income was retained or distributed. In a partnership, even if particular partners were legally prohibited from receiving income, the partnership as a "person" controlled the distribution or retention decision. This really seems the equitable test, but I fear the SC will defer to Congress.

[@ChristianHunter]

Yikes, I think that part of the Gemini demo was (at least in part) faked

[@meccanised]

You guys are completely clueless on crypto so best moving forward to just not engage. Coinbase is up because they are the 3rd party on pretty much all the SEC filings to hold the asset on behalf of these ETFs. And Ed's extremely clueless take on BTC is laughable. US and Worldwide DEBT and the very notion of "scarcity" is the reason BTC has had this rally, not Blackrock or any other company.

[@jamesyoh1373]

Prof. G just presented the best joke for 2023.

[@rharald7539]

Yeah you princton cold nerd😊👍

[@tigreytigrey8537]

Yall have to do more research. Bitcoin is not only running because of the ETF. It is running because of THE BITCOIN HALVING!!!!! RESEARCH!!!

[@sanesanyo]

There is no way to prove it. Just purely speculation. Especially when everyone knows well in advance it's going to happen on one particular date. Based on an efficient market hypothesis, it should already be priced in.

[@tigreytigrey8537]

@@sanesanyo lol bro... I never said it was THE REASON. I said it was ONE OF THE REASONS. It is 100% one of the primary reasons. To deny it is delusion.

[@sanesanyo]

​​@@tigreytigrey8537That's the thing it's just speculation based on your own thesis. Everyone has this information since Bitcoin was created, thus it should by default be reflected in the price. You are claiming they haven't done their research and I don't see how Bitcoin halving is the news they should have looked for as it's not new information. 😂😂

[@ryanlynch6587]

This poster is smarter than the entire cast of the show.

[@sanesanyo]

​@@tigreytigrey8537Also just to be clear. I am myself long crypto so I am not trying to be a hater or something. Just think that the increase in price has more to do with other news than halving.

[@valetudo1569]

This mustve been recorded before they found out the gemini demo was faked

[@BjornGevert]

Goodmorning dudes, the Gemini video realtima analysis is all fake… duh!

[@kchiker]

Scott doesn't understand Bitcoin. The value goes up every 4 years due to the halving cycle and there is a ceiling on the supply of Bitcoin. Never more than 21 million Bitcoin.

[@PeterGeorge]

True - Bitcoin is the actual embodiment of the Supply and Demand model first postulated by Adam Smith in 1776.

[@zak2043]

Perhaps the least interesting discussion of the Bitcoin ETF I have heard. Most of the segment was about his belt - comes across narcissistic and self-centered with Zero substance.

[@evangelionbh]

It's embarrassing how such little innovation has occurred within the airline industry. But rest assured, millions has been spent of marketing their new checkin apps, and ensuring you will receive your dietary required apple if requested during the booking.

[@paxdriver]

I'd argue they're very elaborate about their airspace and runway fees. Navigating that mess internationally must be eating up all the intellectual talent in the industry lol

[@jolness1]

"The whole point of a society is to move people toward prosperity". Well put. I have seen a lot of folks who used to believe this shed it pretty quickly once they made a chunk of money. Suddenly it is "Why am I being *punished* for working hard?". I am all for folks being able to make a lot of money but also seems like it's unfair to have people who have massive sums of wealth getting taxed less on investment income or them being able to dodge taxes through loopholes. No one likes to pay taxes (certainly hurts to pay over 30% of my income in) but it provides benefits for all of us.

[@GetJesse]

That would be all well and good if the government efficiently and effectively used all the tax money given to it, but it doesn’t - and I and others end up feeling ripped off because we know a significant portion of the money is going into a black hole of waste and other crap that we don’t want to fund.

[@DanieleO.]

Why comments are criticizing Scott's opinions on Bitcoin? I find it very coherent with his trust in the institutions. Bitcoin and Gold are an insurance against a dystopic world where the government fails and people need to make transactions without trusting anyone else! Be honest at least with yourself of you are speculating on crypto.

[@duskrider1724]

Self custody is the worst part of crypto. Hate it.

[@Four_Eyes]

Why?

[@duskrider1724]

@@Four_EyesMainly just don't like having to re-sync my ledger wallet every time I use it. It has a tiny amount of storage so I have to uninstall and reinstall the different coin apps and at the moment I keep getting a network error for Solana so the rest of my Solana is stuck on the exchange until I figure out the error. Trezor is better but the base model I have barely supports any coins. Oh and the network fees to transfer bitcoin gets pretty annoying.

[@tecala1]

Let's say you bought at peak Bitcoin and stock market hype - November 11, 2021: Bitcoin was at $64,400 and the S&P 500 at 4,682. Today you would be 36% negative in Bitcoin and break even in the S&P 500. It's all about your time own investment time horizon. And still, I can explain to you what the S&P 500 is. I still can't explain to you what Bitcoin is.

[@paxdriver]

So if I need a car to do the work I'm hired for I have to declare the benefit received by my employer's vehicle subsidy in excruciating detail to make sure I'm taxed on the usage benefit of a part time vehicle, but owning the richest companies on earth doesn't need any tax until it's cashed in...? Not borrowed against or leveraged for cash, but physically sold, before taxing that income. So if the dividend pays higher interest than the secured loan, it's tax free indefinitely? Protect those poor shareholders, huh. Woohoo 🎉 'mer'ca

[@DanieleO.]

Why comments are criticizing Scott's opinione on Bitcoin? I find It very coherent with his trust in the institutions. Bitcoin and Gold are and insurance for a dystopic world where the government fails and people need to make transactions without trusting none else! Be honest at least with yourself of you are speculating on crypto.

[@ross8816]

I have heard prof g tell his story the way he has tried and failed and persevered. That being said i am not surprised he hasn't wrapped his head around bitcoin yet. Slow learner good learner but slow learner

[@runabath]

This is old

[@raytheonbuna1021]

Hawaiaska Airlines...... gonna be a hit with rich bored people seeking enlightenment. Maybe time to corner the vomit bag market.

[@lqpbq]

I don't trust Elon musk I would never invest in any of his schemes.

[@TheMagicJIZZ]

He's a great venture capitalist You're using KZbin? Elon is literally the reason itself exists. Angel investor in it and the founders of KZbin worked for him at PayPal Same goes for deepmind that led to open ai Even if you hate him because CNN said you should. You should recognise the returns on investment he offers investors. 3000% for Tesla since IPO

[@PeterGeorge]

Guys, I implore you, before you spend any more time discussing Bitcoin (or any other Crypto for that matter) please invest an hour interviewing Macro-Economist and RealVision CEO, Raoul Pal. It's clear from this episode that your collective understanding of Blockchain and Crypto is seriously lacking. Raoul will provide you with valuable context.

[@lqpbq]

It is amazing about travel in the airline industry. Agree completely when I was a kid in the '60s it was a much nicer experience to go from Boston to Rome than it is now it also takes the same amount of times that did back then. Although arguably spend more time with the airports at either end but very little progress hasn't made in two generations

[@DrDude-fp6mr]

well there was that thing called 9/11...

[@chrism.1131]

Q* can break encryption… Crypto is going to zero.

[@ryanlynch6587]

U have no idea what ur talking about and I’d put money on u regretting this stance by the end of the year.

[@chrism.1131]

It sounds to me like you have money on it already@@ryanlynch6587