Trevor

People were going around and taking pictures of the price of tomatoes in different places and then putting it into a database and organizing, I think, for hedge funds and other folks, yeah.

Okay, Freeberg, here's a chart for you to comment on. Maybe we open the aperture here. Total employment and unemployment here in the United States, as you can see, you know, since the 80s, population has grown and the number of people employed has continued to grow. Labor participation, it kind of peaked in the 90s in the Clinton era, and it's come down a bit since then.

Okay, Freeberg, here's a chart for you to comment on. Maybe we open the aperture here. Total employment and unemployment here in the United States, as you can see, you know, since the 80s, population has grown and the number of people employed has continued to grow. Labor participation, it kind of peaked in the 90s in the Clinton era, and it's come down a bit since then.

But overall, what do you think of the health of the economy and employment?

But overall, what do you think of the health of the economy and employment?

And Sachs, here's the dramatic Fed. We always talked about them kind of getting on this a little bit late. But you can see here, man, what a ramp up in 2022, where we were basically at a quarter point and they just added a quarter point of 50 bps all the way up to 5.33, where we've been flat. Inflation, obviously, we have the two handle now. So now we start the process of going down.

And Sachs, here's the dramatic Fed. We always talked about them kind of getting on this a little bit late. But you can see here, man, what a ramp up in 2022, where we were basically at a quarter point and they just added a quarter point of 50 bps all the way up to 5.33, where we've been flat. Inflation, obviously, we have the two handle now. So now we start the process of going down.

And I think people generally believe 25 bps at a time will be their pattern coming down.

And I think people generally believe 25 bps at a time will be their pattern coming down.

So either mission accomplished, or we'll see if we have a soft landing, hard landing, or something in between. Most people feel like it's going to be soft with a little bit of bumps. It seems direction correct to me.

So either mission accomplished, or we'll see if we have a soft landing, hard landing, or something in between. Most people feel like it's going to be soft with a little bit of bumps. It seems direction correct to me.

Yeah. And it doesn't seem like either of the incoming administrations really cares about spending. Seems like we're going to be in still big money spending mode, independent of who wins. We'll see how long that can last as a country. And then we talked a little bit about the Supreme Court decision last year around affirmative action and It turns out now MIT has released their data.

Yeah. And it doesn't seem like either of the incoming administrations really cares about spending. Seems like we're going to be in still big money spending mode, independent of who wins. We'll see how long that can last as a country. And then we talked a little bit about the Supreme Court decision last year around affirmative action and It turns out now MIT has released their data.

It's getting a lot of buzz online. Here's a chart. Basically what you can take from this chart, and this is people self-identifying at MIT, and the buzz is that Asian Americans have gone from 41% to 47%, and those gains came on a percentage basis from a decline in the number of Black and Latino students coming in. Here's the chart, as you can see.

It's getting a lot of buzz online. Here's a chart. Basically what you can take from this chart, and this is people self-identifying at MIT, and the buzz is that Asian Americans have gone from 41% to 47%, and those gains came on a percentage basis from a decline in the number of Black and Latino students coming in. Here's the chart, as you can see.

So people are wondering about, I guess, the fairness of this. And I guess you could have either one of two positions, Chamath. Asian students were being penalized for a long time. Or now, I guess you could believe that Latin and Black students are being impacted negatively about this.

So people are wondering about, I guess, the fairness of this. And I guess you could have either one of two positions, Chamath. Asian students were being penalized for a long time. Or now, I guess you could believe that Latin and Black students are being impacted negatively about this.

So I'm not sure what your take is, but it's obviously moving to more of a meritocracy, according to the people at MIT.

So I'm not sure what your take is, but it's obviously moving to more of a meritocracy, according to the people at MIT.

And that is what the Supreme Court decision did. You cannot take race into account. Harvard had some weird thing, Friedberg, where personality was one of the vectors.