Prof G Markets

Vox Media Podcast Network

Prof G Markets is your daily briefing on the news moving markets — from earnings and geopolitics, to Big Tech and AI.

Hosted by Scott Galloway and Ed Elson, we cut through the noise with no-BS analysis. Tune in to understand what's happening, why it matters, and how to stay ahead.

Fast takes. Clear insights. No jargon — just signal.

Have a question or comment for us? Reach out to markets@profgmedia.com.

Part of the Vox Media Podcast Network.

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382 episodes
Updated Friday

Episodes382

Newest first

Friday · 1 hr 8 min
Jim Chanos: We’re In The Golden Age Of Fraud
Ed Elson and Scott Galloway are joined by Jim Chanos to discuss the biggest risks he sees in today's AI-driven market and the warning signs that remind him of the late stages of the dot-com bubble. He also breaks down the companies he's long and short on, explains why he's increasingly concerned about fraud in the market, and shares the advice he'd give to young investors navigating today's environment. Jim Chanos is the Founder and Managing Partner of Chanos & Company, formally known as Kynikos Associates, the world’s oldest exclusive short selling investment firm. Subscribe to the Prof G Markets Youtube Channel Check out our latest Prof G Markets newsletter Follow Prof G Markets on Instagram Follow Ed on Instagram, X and Substack Follow Scott on Instagram Send us your questions or comments by emailing Markets@profgmedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices
Thursday · 33 min
Microsoft Soars, Meta Sinks: Has The AI Narrative Flipped?
Ed Elson is joined by Gil Luria to break down earnings from Microsoft and Meta, and what the disparate results reveal about what’s next for the AI trade. Then, Mike Gapen returns to discuss the Federal Reserve’s interest rate decision and why he thinks rates might stay stagnant for the rest of the year. Finally, Ed gives his take on FIFA’s decision to sell its profits. Gil Luria is the Head of Technology Research at D.A. Davidson. Mike Gapen is the managing director and Chief U.S. Economist at Morgan Stanley. Subscribe to the Prof G Markets Youtube Channel Check out our latest Prof G Markets newsletter Follow Prof G Markets on Instagram Follow Ed on Instagram, X and Substack Follow Scott on Instagram Send us your questions or comments by emailing Markets@profgmedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices
Wednesday · 35 min
Why The Nasdaq Just Hit Correction Territory
Ed Elson is joined by Torsten Sløk to break down what's driving the recent tech sell-off, where he thinks markets are headed from here, and which asset classes investors should consider if they're looking to diversify beyond AI. Then, Justin Wolfers returns to discuss President Trump's latest tariff strategy, how it could affect inflation, and what it means for the broader economy. Torsten Sløk is the Chief Economist at Apollo Global Management. Justin Wolfers is a Professor of Public Policy and Economics at the University of Michigan and the founder of Platypus Economics. Subscribe to the Prof G Markets Youtube Channel Check out our latest Prof G Markets newsletter Follow Prof G Markets on Instagram Follow Ed on Instagram, X and Substack Follow Scott on Instagram Send us your questions or comments by emailing Markets@profgmedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices
Tuesday · 33 min
China Is Undercutting America’s AI Giants
Ed Elson is joined by Scott Singer to discuss why Chinese open models have been gaining momentum and whether or not the U.S. risks losing its lead in the AI race. Then, Vishy Tirupattur joins to unpack the debt behind the AI buildout and explain why investors should be paying attention to the off-balance sheet debt from the hyperscalers. Finally, Ed gives his take on China’s most valuable company. Scott Singer is a Technology and International Affairs fellow at the Carnegie Endowment for International Peace. Vishy Tirupattur is the Chief Fixed Income Strategist at Morgan Stanley. Subscribe to the Prof G Markets Youtube Channel Check out our latest Prof G Markets newsletter Follow Prof G Markets on Instagram Follow Ed on Instagram, X and Substack Follow Scott on Instagram Send us your questions or comments by emailing Markets@profgmedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices
Monday · 1 hr 16 min
How Big Tech Offloaded The Risk Of AI
Scott Galloway and Ed Elson unpack why they think investors should be paying closer attention to the off-balance-sheet obligations behind Big Tech's AI buildout. Then, they examine how rising oil prices and a new wave of tariffs could keep inflation elevated and why they believe China has emerged as one of the biggest beneficiaries of the conflict with Iran. Finally, they break down the surge in new business applications and explain what they think is behind the apparent small-business boom. Subscribe to the Prof G Markets Youtube Channel Subscribe to the Prof G Markets newsletter Order "Notes on Being a Man," out now Note: We may earn revenue from some of the links we provide. Follow the podcast across socials @profgmarkets Follow Scott on Instagram Follow Ed on Instagram, X and Substack Send us your questions or comments by emailing Markets@profgmedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices
July 24 · 1 hr 1 min
America’s Economy Is Entering a New Era — ft. Noah Smith
Ed Elson and Scott Galloway are joined by Noah Smith for a livestream to discuss what AI issues he thinks deserve more attention and whether or not he is concerned about AI dumping. They also explore why he believes a sovereign wealth fund could help address wealth inequality and what America's fertility decline could mean for the economy in the decades ahead. For access to future livestreams, you can subscribe to our substack here. Subscribe to the Prof G Markets Youtube Channel Check out our latest Prof G Markets newsletter Follow Prof G Markets on Instagram Follow Ed on Instagram, X and Substack Follow Scott on Instagram Send us your questions or comments by emailing Markets@profgmedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices
July 23 · 42 min
AI Has A Hidden Debt Problem
Ed Elson is joined by Ed Zitron to explore why AI companies have racked up so much debt and how they are able to keep it off their balance sheets. Then, Karim Bousta joins to give his takeaways from Tesla’s earnings and explain why the company is still struggling with its profits. Finally, Scott Devitt returns to break down Google’s earnings and whether or not he’s concerned about the company’s negative free cash flow. Ed Zitron is the author of the Where’s Your Ed At newsletter and Host of the Better Offline podcast. Scott Devitt is a Senior Research Analyst at Rosenblatt Securities. Karim Bousta is the Co-Founder and Managing Partner at DVx Ventures and former Vice President at both Tesla and Lyft. Subscribe to the Prof G Markets Youtube Channel Check out our latest Prof G Markets newsletter Follow Prof G Markets on Instagram Follow Ed on Instagram, X and Substack Follow Scott on Instagram Send us your questions or comments by emailing Markets@profgmedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices
July 22 · 32 min
Trump’s Tariffs Are Back — And Crazier Than Ever
Ed Elson is joined by Peter Harrell to break down the new tariffs on Canada and whether or not there could be more trade chaos on the horizon. Then, Rohan Goswami returns to discuss the latest roadblock in the Paramount/Warner Bros. deal and give a prediction for when he thinks it will actually go through. Finally, Ed explains why he’s concerned about Oracle’s debt. Peter Harrell is a Visiting Scholar at the Institute of International Economic Law at Georgetown Law School. Rohan Goswami is a Business Reporter at Semafor. Subscribe to the Prof G Markets Youtube Channel Check out our latest Prof G Markets newsletter Follow Prof G Markets on Instagram Follow Ed on Instagram, X and Substack Follow Scott on Instagram Send us your questions or comments by emailing Markets@profgmedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices
July 21 · 32 min
Gas Is Back Above $4 — And Could Keep Rising
Ed Elson is joined by Matt Smith to break down how the latest developments in the war with Iran are affecting oil prices and where he thinks gas prices could be headed next. Then, Charlie O'Neill joins the show to discuss China's new AI model, Kimi K3, why open-source models are gaining momentum, and what that shift could mean for the broader AI race. Matt Smith is the Director of Commodity Research at Kpler. Charlie O’Neill is the Co-Head of Model Training at Baseten. Subscribe to the Prof G Markets Youtube Channel Check out our latest Prof G Markets newsletter Follow Prof G Markets on Instagram Follow Ed on Instagram, X and Substack Follow Scott on Instagram Send us your questions or comments by emailing Markets@profgmedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices
July 20 · 1 hr 5 min
OpenAI Is Spinning Out Of Sam Altman's Control
Scott Galloway and Ed Elson unpack OpenAI's turbulent week and assess the biggest threats facing the company. They discuss why China's latest AI models could pose a serious challenge and why Scott thinks there might be a leadership shake-up at OpenAI. Then, they examine the growing narrative that the market is becoming more diversified, arguing that AI's influence extends far beyond Big Tech, and identify the sectors they believe are least exposed to the AI trade. Subscribe to the Prof G Markets Youtube Channel Subscribe to the Prof G Markets newsletter Order "Notes on Being a Man," out now Note: We may earn revenue from some of the links we provide. Follow the podcast across socials @profgmarkets Follow Scott on Instagram Follow Ed on Instagram, X and Substack Send us your questions or comments by emailing Markets@profgmedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices
July 17 · 1 hr 1 min
Mike Novogratz: Crypto's Investors Have Moved On
Ed Elson and Scott Galloway are joined by Mike Novogratz to discuss why crypto has struggled this year and where he thinks the industry goes from here. They also explore how he got into the AI infrastructure business, why he now considers himself an AI landlord, and whether the AI boom is headed toward a demand crisis. Mike Novogratz is the founder and CEO of Galaxy Digital. Subscribe to the Prof G Markets Youtube Channel Check out our latest Prof G Markets newsletter Follow Prof G Markets on Instagram Follow Ed on Instagram, X and Substack Follow Scott on Instagram Send us your questions or comments by emailing Markets@profgmedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices
July 16 · 27 min
SpaceX Is Down 40% — How Low Can It Go?
Ed Elson is joined by Nicolas Owens to break down how SpaceX shares fell below their IPO price and where the stock might go from here. Then, Bradley Tusk returns to discuss New York’s statewide data center moratorium and whether other states might follow suit. Finally, Ed gives his take on the Treasury Department's new gold coins. Nicolas Owens is an Equity Analyst at Morningstar. Bradley Tusk is a venture capitalist, political strategist, and writer. Subscribe to the Prof G Markets Youtube Channel Check out our latest Prof G Markets newsletter Follow Prof G Markets on Instagram Follow Ed on Instagram, X and Substack Follow Scott on Instagram Send us your questions or comments by emailing Markets@profgmedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices
July 15 · 32 min
Why America’s Inflation Problem Isn’t Going Away
Ed Elson is joined by Mark Zandi to break down what the latest inflation report reveals about the state of the economy and what it could mean for the path of interest rates. Then, Saul Martinez returns to explain why the nation's biggest banks delivered such strong earnings. Finally, Ed gives his take on the inflation report. Mark Zandi is the Chief Economist at Moody’s Analytics. Saul Martinez is the Head of US Financials Research at HSBC. Subscribe to the Prof G Markets Youtube Channel Check out our latest Prof G Markets newsletter Follow Prof G Markets on Instagram Follow Ed on Instagram, X and Substack Follow Scott on Instagram Send us your questions or comments by emailing Markets@profgmedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices
July 14 · 29 min
Apple Just Declared War On OpenAI
Ed Elson speaks with Alex Kantrowitz about what Apple’s lawsuit against OpenAI could mean for the startup’s hardware and IPO ambitions. Then, Luke Kawa returns to the show to break down South Korea’s leveraged ETF problem. Finally, Ed gives an update on Trump’s latest Strait of Hormuz strategy. Alex Kantrowitz is the author of the Big Technology newsletter and podcast. Luke Kawa is the Head of Markets at Sherwood News. Subscribe to the Prof G Markets Youtube Channel Check out our latest Prof G Markets newsletter Follow Prof G Markets on Instagram Follow Ed on Instagram, X and Substack Follow Scott on Instagram Learn more about your ad choices. Visit podcastchoices.com/adchoices
July 13 · 1 hr 10 min
Wall Street Is Pumping SpaceX — So Why Is It Falling?
Patrick Boyle, professor at King’s College London and portfolio manager, fills in for Scott. He and Ed discuss how SpaceX’s stock has traded over the past couple weeks. They break down the price targets that analysts have issued and explain why they’re concerned about potential conflicts of interest in equity research. Then, they discuss why crypto bros don’t find crypto exciting anymore and have moved onto AI. Finally, they explore why the housing market is showing new signs of strain and what it would take to get home prices back to a reasonable place. Patrick Boyle is a professor at King’s College London and a portfolio manager with more than 20 years of experience at hedge funds, investment banks and private wealth management firms. He’s also the author of several books on finance and hosts the podcast, Patrick Boyle On Finance. Subscribe to the Prof G Markets Youtube Channel Subscribe to the Prof G Markets newsletter Order "Notes on Being a Man," out now Note: We may earn revenue from some of the links we provide. Follow the podcast across socials @profgmarkets Follow Scott on Instagram Follow Ed on Instagram, X and Substack Send us your questions or comments by emailing Markets@profgmedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices
July 10 · 1 hr 5 min
This Is How OpenAI Goes Broke — ft. Sebastian Mallaby
Ed Elson sits down with Sebastian Mallaby to discuss why he believes there's a real chance OpenAI runs out of money within the next 18 months, and what that would mean for the broader AI industry. He also explains why he doesn't necessarily see Meta's decision to sell excess compute capacity as a bear signal, why he was encouraged by the Trump administration's new AI policy, and how he expects the AI race to unfold over the coming years. Sebastian Mallaby is a prominent journalist, author, Pulitzer Prize finalist, and senior fellow at the Council on Foreign Relations. His latest book is The Infinity Machine: Demis Hassabis, DeepMind, and the Quest for Superintelligence. Subscribe to the Prof G Markets Youtube Channel Check out our latest Prof G Markets newsletter Follow Prof G Markets on Instagram Follow Ed on Instagram, X and Substack Follow Scott on Instagram Send us your questions or comments by emailing Markets@profgmedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices
July 9 · 30 min
What Wall Street Got Wrong About Iran
Ed Elson is joined by Brian Katulis to break down the latest attacks in the Iran War and how he thinks diplomacy will play out over the next several months. Then, Casey Mock joins the show to discuss what the Meta lawsuits mean for investors. Finally, Ed gives his take on Trump’s Iran strategy. Brian Katulis is a Senior Fellow at the Middle East Institute. Casey Mock is the Senior Policy Director for the Anxious Generation Movement. Subscribe to the Prof G Markets Youtube Channel Check out our latest Prof G Markets newsletter Read the Ramp paper Follow Prof G Markets on Instagram Follow Ed on Instagram, X and Substack Follow Scott on Instagram Send us your questions or comments by emailing Markets@profgmedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices
July 8 · 33 min
Why The World Is Spending More On War
Ed Elson is joined by Steve Feldstein to break down why countries are pouring so much money into defense and what that says about the future stability of the world. Then, Zed Francis joins the show to break down why chip stocks are selling off despite strong earnings from Samsung. Finally, Ed is joined by Ara Kharazian to dig into his paper which showed that the biggest AI spenders are actually hiring more than non-adopters. Steve Feldstein is a senior fellow at the Carnegie Endowment for International Peace. Zed Francis is the CIO & Co-Founder at Convexitas. Ara Kharazian is the Lead Economist at Ramp. Subscribe to the Prof G Markets Youtube Channel Check out our latest Prof G Markets newsletter Read the Ramp paper Follow Prof G Markets on Instagram Follow Ed on Instagram, X and Substack Follow Scott on Instagram Send us your questions or comments by emailing Markets@profgmedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices
July 7 · 34 min
SpaceX Just Got Fast-Tracked Into Your Portfolio
Ed Elson is joined by Michael Green to break down the impact of SpaceX’s early entry into the Nasdaq 100 and what it means for the future of passive investing. Then, Kathryn Anne Edwards joins the show to break down the June jobs report and why she thinks wage growth is the most important thing to focus on. Finally, Ed gives his take on the latest evidence of Trump’s kingmaker economy. Michael Green is the Chief Strategist and Portfolio Manager for Simplify Asset Management. Kathryn Anne Edwards is a PhD economist, economic policy consultant, and columnist for Bloomberg News. Subscribe to the Prof G Markets Youtube Channel Check out our latest Prof G Markets newsletter Follow Prof G Markets on Instagram Follow Ed on Instagram, X and Substack Follow Scott on Instagram Send us your questions or comments by emailing Markets@profgmedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices
July 6 · 1 hr 5 min
OpenAI Wants A Government Bailout
Scott Galloway and Ed Elson unpack reports that Meta is launching a cloud business and explain why they see it as a bearish signal. They also discuss why they don’t think there’s any justification for a government bailout of OpenAI. Then, they break down why the new Trump accounts are a step in the right direction, but argue that reducing inequality shouldn't depend on the generosity of billionaires. Finally, Scott explains the investment thesis behind his bullish call on the Bending Spoons IPO and why he decided to invest in the company. Subscribe to the Prof G Markets Youtube Channel Subscribe to the Prof G Markets newsletter Order "Notes on Being a Man," out now Note: We may earn revenue from some of the links we provide. Follow the podcast across socials @profgmarkets Follow Scott on Instagram Follow Ed on Instagram, X and Substack Send us your questions or comments by emailing Markets@profgmedia.com Learn more about your ad choices. Visit podcastchoices.com/adchoices

Prof G Markets

Jim Chanos: We’re In The Golden Age Of Fraud

Microsoft Soars, Meta Sinks: Has The AI Narrative Flipped?

Why The Nasdaq Just Hit Correction Territory

China Is Undercutting America’s AI Giants

How Big Tech Offloaded The Risk Of AI

America’s Economy Is Entering a New Era — ft. Noah Smith

AI Has A Hidden Debt Problem

Trump’s Tariffs Are Back — And Crazier Than Ever

Gas Is Back Above $4 — And Could Keep Rising

OpenAI Is Spinning Out Of Sam Altman's Control

Mike Novogratz: Crypto's Investors Have Moved On

SpaceX Is Down 40% — How Low Can It Go?

Why America’s Inflation Problem Isn’t Going Away

Apple Just Declared War On OpenAI

Wall Street Is Pumping SpaceX — So Why Is It Falling?

This Is How OpenAI Goes Broke — ft. Sebastian Mallaby

What Wall Street Got Wrong About Iran

Why The World Is Spending More On War

SpaceX Just Got Fast-Tracked Into Your Portfolio

OpenAI Wants A Government Bailout