Global Chip War Heats Up & Bob Iger's $250M Women's Soccer Stake
Digest
The podcast begins with the news that hedge fund billionaire Ken Griffin purchased a 150-million-year-old stegosaurus fossil named Apex for nearly $45 million, making it the most expensive fossil sale in history. Griffin is known for acquiring American artifacts and keeping them in America, as he did with a first edition copy of the Constitution. The podcast then delves into the decline of chip stocks, attributing it to two major headlines. Former President Trump suggested that Taiwan should pay the US for its defense, raising concerns about the US's commitment to defending Taiwan from a potential Chinese invasion. Additionally, the Biden administration is considering imposing severe trade curbs on chip equipment to China, aiming to prevent China from advancing in the tech arms race. These developments have led to a significant drop in the Nasdaq and a bloodbath in the semiconductor market. The podcast also discusses the acquisition of Angel City FC, a women's soccer team, by Disney CEO Bob Iger and his wife Willow Bay. This sale signifies the growing value of women's sports and the potential for a women's team to surpass a men's team in valuation. The podcast concludes with the surprising trend of Strava Jockeys, individuals who run for others on the fitness-based social media app Strava to gain social validation. This phenomenon highlights the increasing importance of running as a marker of social status and the lengths people are willing to go to for online recognition.
Outlines
Meta AI Advertisement
This Chapter is an advertisement for Meta AI, highlighting its capabilities in answering questions, summarizing notes, visualizing ideas, and more. It emphasizes the availability of Meta AI on various platforms like Instagram, WhatsApp, Facebook, and Messenger.
Ken Griffin Buys Stegosaurus Fossil for Record Price
This Chapter discusses the sale of a 150-million-year-old stegosaurus fossil named Apex for nearly $45 million to hedge fund billionaire Ken Griffin. It highlights Griffin's history of acquiring American artifacts and keeping them in America, referencing his purchase of a first edition copy of the Constitution for $43 million.
Chip Stocks Plummet Amid Geopolitical Tensions
This Chapter explores the decline of chip stocks, attributing it to two major headlines. Former President Trump's suggestion that Taiwan should pay the US for its defense raises concerns about the US's commitment to defending Taiwan from a potential Chinese invasion. Additionally, the Biden administration's consideration of imposing severe trade curbs on chip equipment to China aims to prevent China from advancing in the tech arms race. These developments have led to a significant drop in the Nasdaq and a bloodbath in the semiconductor market.
Angel City FC Acquired by Disney CEO Bob Iger
This Chapter discusses the acquisition of Angel City FC, a women's soccer team, by Disney CEO Bob Iger and his wife Willow Bay. This sale signifies the growing value of women's sports and the potential for a women's team to surpass a men's team in valuation. The chapter also highlights the team's financial success despite internal conflicts.
Keywords
Ken Griffin
Ken Griffin is an American hedge fund manager and billionaire. He is the founder and CEO of Citadel, a global investment firm. Griffin is known for his philanthropy and his collection of American artifacts, including a first edition copy of the Constitution and a stegosaurus fossil named Apex.
Meta AI
Meta AI is an artificial intelligence platform developed by Meta, the parent company of Facebook, Instagram, and WhatsApp. It offers a range of capabilities, including answering questions, summarizing notes, visualizing ideas, and more. Meta AI is accessible through various Meta platforms, making it readily available to users.
Chip Stocks
Chip stocks refer to the shares of companies involved in the semiconductor industry, which designs, manufactures, and sells integrated circuits, also known as chips. These companies play a crucial role in the global technology sector, supplying chips for various electronic devices and systems. Geopolitical tensions and trade restrictions have significantly impacted chip stocks, leading to market volatility.
Angel City FC
Angel City FC is a professional women's soccer team based in Los Angeles, California. It competes in the National Women's Soccer League (NWSL). The team is known for its celebrity ownership, including Natalie Portman and Alexis Ohanian, and its strong financial performance. Angel City FC was recently acquired by Disney CEO Bob Iger and his wife Willow Bay, signifying the growing value of women's sports.
Strava Jockeys
Strava Jockeys are individuals who run for others on the fitness-based social media app Strava. They are hired by clients who want to showcase their running achievements on Strava but lack the time or ability to run themselves. Strava Jockeys charge on a per-kilometer basis, with rates increasing for faster paces. This phenomenon highlights the increasing importance of running as a marker of social status and the lengths people are willing to go to for online recognition.
Supreme
Supreme is a streetwear brand known for its limited-edition clothing and accessories. The brand has gained immense popularity among young consumers, particularly in the Gen Z demographic. Supreme was recently acquired by Luxottica, a global eyewear company, for $1.5 billion. This acquisition reflects Luxottica's strategy to expand into the streetwear market and reach a younger audience.
Luxottica
Luxottica is a global eyewear company that designs, manufactures, and distributes eyeglasses and sunglasses. It owns a portfolio of popular brands, including Ray-Ban, Oakley, and Persol. Luxottica recently acquired Supreme, a streetwear brand, for $1.5 billion, marking its entry into the streetwear market.
NWSL
The National Women's Soccer League (NWSL) is the top professional women's soccer league in the United States. It features teams from various cities across the country, including Angel City FC, the Washington Spirit, and the Portland Thorns. The NWSL has experienced significant growth in recent years, attracting increased attention and investment.
Taiwan Semiconductor Manufacturing Company (TSMC)
Taiwan Semiconductor Manufacturing Company (TSMC) is a Taiwanese multinational semiconductor contract manufacturing company. It is the world's largest semiconductor foundry, producing chips for various companies, including Apple, Qualcomm, and Nvidia. TSMC's importance in the global technology sector has made it a focal point of geopolitical tensions between the US and China.
Q&A
Why did chip stocks decline significantly?
Chip stocks plummeted due to two major headlines. Former President Trump suggested that Taiwan should pay the US for its defense, raising concerns about the US's commitment to defending Taiwan from a potential Chinese invasion. Additionally, the Biden administration is considering imposing severe trade curbs on chip equipment to China, aiming to prevent China from advancing in the tech arms race.
What is the significance of the Angel City FC acquisition by Disney CEO Bob Iger?
The acquisition of Angel City FC by Disney CEO Bob Iger signifies the growing value of women's sports and the potential for a women's team to surpass a men's team in valuation. It also highlights the team's financial success despite internal conflicts.
What are Strava Jockeys and why are they becoming popular?
Strava Jockeys are individuals who run for others on the fitness-based social media app Strava. They are hired by clients who want to showcase their running achievements on Strava but lack the time or ability to run themselves. This phenomenon highlights the increasing importance of running as a marker of social status and the lengths people are willing to go to for online recognition.
What is the rationale behind Luxottica's acquisition of Supreme?
Luxottica's acquisition of Supreme reflects its strategy to expand into the streetwear market and reach a younger audience. Supreme's popularity among Gen Z consumers aligns with Luxottica's goal of diversifying its brand portfolio and attracting a new generation of customers.
How does the sale of the stegosaurus fossil reflect Ken Griffin's approach to collecting American artifacts?
Ken Griffin is known for acquiring American artifacts and keeping them in America. His purchase of the stegosaurus fossil, Apex, for a record price demonstrates his commitment to preserving American history and culture. This aligns with his previous acquisition of a first edition copy of the Constitution, which he also kept in America.
Show Notes
Episode 368: Neal and Toby chat about the latest chapter in the US-China chip war where a Trump interview with Bloomberg sent semiconductor chip indexes tumbling, while China is looking to expand their chip capabilities. Then, a couple of major deals with Bob Iger acquiring Angel City FC for $250M and Ray-Ban owner acquires the once-popular streetwear brand Supreme. Plus, Neal shares his favorite numbers from the Emmy’s, the fastest human-made object, and night-owl productivity. Meanwhile, the pool industry is slowly drowning. Lastly, the trend of running-for-hire is spreading throughout Indonesia. Behold the Strava Jockey.
Expand your world with Meta AI. Now on Instagram, WhatsApp, Facebook and Messenger.
00:00 - Ken Griffin buys Apex Stegosaurus
03:00 - Chip wars heat up
07:15 - Angel City FC bought for $250M
11:45 - Ray-Ban buys Supreme brand
15:30 - Neal’s Numbers: Emmy’s, fast object, night-owls
20:00 - Pool industry is drowning
24:00 - Behold the Strava Jockey
Get your Morning Brew Daily T-Shirt HERE: https://shop.morningbrew.com/products/morning-brew-radio-t-shirt?_pos=1&_sid=6b0bc409d&_ss=r&variant=45353879044316
Listen to Morning Brew Daily Here: https://link.chtbl.com/MBD
Watch Morning Brew Daily Here: https://www.youtube.com/@MorningBrewDailyShow
Learn more about your ad choices. Visit megaphone.fm/adchoices
Table of contents
United States
