Nvidia Earnings are the Super Bowl of Business + Trump’s $5 Million Gold Card
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Why are Tesla's market cap and stock plummeting?
This isn't CNBC. Agreed. Let's start with our weekly review of Market Vitals. The S&P 500 declined, the dollar rose, Bitcoin fell, and the yield on 10-year treasuries hit its lowest level since December. Shifting to the headlines. Tesla's market cap has fallen below $1 trillion, erasing nearly all of the stock's post-election gains. Shares are down more than 25% so far this year, as investor concerns mount over growing competition and Elon Musk controversies. Warren Buffett announced that Berkshire Hathaway paid nearly $27 billion in taxes in 2024. That is the largest tax bill ever paid by a US company, accounting for roughly 5% of all corporate income taxes collected in the country that year.
And finally, BP announced it is shifting back to fossil fuels and scaling down investments in green energy. The company plans to spend around $10 billion a year on oil and gas to win back investors after its fourth quarter profit hit a four-year low. Despite that move, BP shares closed down about 1.5%. Scott, we'll start with Tesla, and I'm bracing myself for your victory lap here.
Why are Nvidia's earnings not impressing investors?
Buying a house has long been considered the best way to build wealth and move into true adulting.
Isn't it? I mean, at least that's what society wants us to think. Gotta get a Birkin, gotta get a home, you know.
Okay, the handbag you can probably manage without. But what about a house? Surely that's actually good, right? We're going to find out this week on Explain It To Me. New episodes every Sunday morning, wherever you get your podcasts.
Hey, this is Peter Kafka. I'm the host of Channels, a podcast about technology and media and how they're both changing all the time. And this week, I'm trying to figure out how Donald Trump is changing the media in Washington and the courtroom and in the boardroom. On to help me figure it all out is Sarah Fisher, the excellent Washington-based media reporter for Axios. That's this week on Channels, wherever you get your favorite podcasts.
Today's number, $49 million. That's how much New York City's congestion pricing tolls brought in during the program's first month. This is an actual true story, Ed. When I first moved to New York, my first date was with a woman named Martha who took me to, no joke, a sex club. And one of us had sex, and it wasn't me, Ed. That's a true story. That's not a true story. No, it's a true story. The club was called Trapeze.
You're going to have to elaborate. It's the final part that I'm really intrigued in.
Met this woman, really interesting woman, nice. I was very attracted to her. And I had this big deck. I lived at one Greenwich, and I had basically this like 700-foot apartment with a 3,000-square-foot deck, see above, single and desperate. And I used to have parties and people, and I met this woman, super hot, seemed super cool. Yeah. Asked her out. Kept asking her out. And finally, like, I'm getting nothing back here. And she's like, I have something I think you're going to like. And she showed up and said, I'm going to handle everything. And we went to this place in, I think it was the West Village or so, go underground. Yeah. It's like 300 bucks for the dude and nothing for the woman. I'm like, oh, that's going to be interesting.
And they give you a towel, and she changed into a towel. And anyway, she ended up making out and fooling around with a woman.
That is crazy.
That was my pick. New York story. NYU professor, would you let your kid take class with me?
Yeah, you didn't do anything wrong. I mean, you shouldn't have pursued this woman specifically, clearly.
Oh, I was so excited. I think I still probably text her, saying if she'll give me another shot at trapeze.
What happened in the basement, water under the bridge. Let's start over.
Actually, also, my other New York joke. You know, New York is just full of rats. I made actually friends with this rat, and this ridiculously hot woman walked by, and I'm like, did you see the ass on that woman? He said, well, actually, I'm a tit rat myself.
I prefer the real stories.
Ah, that's why you come here.
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Chapters
6 chapters
1
Why are Tesla's market cap and stock plummeting?
3:17–10:29
2
Is Warren Buffett's tax bill a record-breaking milestone?
10:29
3
What are the implications of BP's shift back to fossil fuels?
7:20–15:20
4
How does the tax system affect different income levels?
15:20
5
What is Trump's new gold card visa program?
0:01
6
Why are Nvidia's earnings not impressing investors?
0:01–48:09
Speakers
11 identifiedMore from Prof G Markets
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