Trump's Credit Card CAP, Musk's Iran Move, 50% OnlyFans Tax + Efran Soltani Execution | PBD Podcast | Ep. 718
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What topics are covered in the beginning of the podcast?
Did you ever think you would make it? I feel I'm supposed to take sweet victory.
I know this life meant for me.
Adam, what's your point? The future looks bright. My handshake is better than anything I ever signed, right here. You are a one-on-one? My son's right there.
I don't think I've ever said this before.
Okay, gang. Great to be with you guys. Business Wednesdays today. A lot of stories to cover. A number was dropped on BNPL. How catastrophic it's looking right now for BNPL and specifically Gen Z. Tom's got an entire report on it. We got a special guest with us here, Mark, who has a YouTube channel himself. Mark, you got about what? You got a million subscribers. Almost. We're getting there. A million subscribers. Maybe this will help. Yeah, well, listen, you are helping yourself. You know, as a guy that's doing a great job, we've been watching you for a while. Brandon always would rave about you, and we met at the Manect event at Soho House.
Yep.
So we're excited about Mark Moss' views today on different things. Thank you. But let's go through some of the stories, some of the stories that we got. So... NPR reports yesterday 2,500 people, Iranian civilians, killed by the government. CBS says 12,500. We'll definitely get into that. Trump says any country doing business with Iran will face a 25% U.S. tariff. Last time they did this, Iran was suffocating. They're already suffocating the government. It's about to get even worse. Google co-founder Sergey Brin joins California Exodus, and he's another one of those billionaires that left as well. And remember, Chamath said there's about a half a trillion dollars of net worth of business owners in the state of California that are leaving.
So he's one of those half a trillion dollar guys that he was talking about. And then there's nothing we can do. The great millennial career crisis has workers giving up on ever owning homes or paying off their student loans. You know, this is Brandon's story. He wants to talk about this because, you know, he's not happy with affordability. We'll definitely cover that. Probably the best story that I have here is what Argentina did With the $2.5 billion, if you guys remember, America's going to bail out Argentina. I told you these capitalistic ideas are not going to work out. It's a bunch of BS. Well, guess what? He just returned the $2.5 billion yesterday. I'm like, wait, what? He returned it. We'll cover that as well today on the Argentina story.
This next one is a little bit disappointing because I want to see this happen. Nissan cancels the Versa, America's last new car for under $20,000 as automakers lean toward wealthier buyers. Trump vows to slash mortgage rates, revive American dream while blaming Biden housing failures in a truth post. We'll address that. Trump to bring Musk in for key Iran mission. I believe they're starting to realize that Elon's got a tool that everybody needs. He's becoming a linchpin with his Starlink technology that he has. And then Trump floats one-year 10% credit card interest rate cap. What could that mean for your money? Last night we were having dinner, Tom and I, with four... investment bankers and advisors from JP Morgan Chase.
And this was one of the topic of discussion of what happens if you cap credit card rates at 10%. Does it help the people you want to help or does it hurt the people you want to help and help the people that don't need help? I don't know if that makes sense. We're going to talk about this whole credit card situation. Bill Ackman didn't think it's a good idea. He tweeted about it. Then apparently what Tom was sharing with me is he took the tweet down. Nobody knows why. Wall Street on edge after Trump takes aim at credit cards, home buying. And then how American high schools are teaching capitalism. This is a little bit of a serious issue to be talking about because if kids are coming out of high school, spending all this time with their teachers.
Last night, my health and guidance teacher from 14 years old wrote me a letter. Every three months I get a letter.
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Chapters
7 chapters
1
What topics are covered in the beginning of the podcast?
0:01–11:35
2
What are the implications of Trump's proposed credit card interest cap?
11:35–59:17
3
How does the BNPL trend impact consumer debt?
59:17–1:01:00
4
What are the implications of China's parallel financial system?
1:01:00–1:01:35
5
How does the U.S. dollar's status as a reserve currency affect global finance?
1:01:35–1:02:19
6
What role does Elon Musk play in addressing Iran's internet blackout?
1:02:19–1:03:02
7
What are the potential impacts of a 50% tax on OnlyFans income?
1:03:02–2:04:06
Speakers
5 identifiedMore from PBD Podcast
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