What to Buy When the Tech Sector is On Sale — ft. Mark Mahaney

Scott and Ed discuss Trump’s tariffs on films produced outside the U.S., OpenAI scrapping its plans to become a for-profit company, and Warren Buffett’s decision to step down as CEO of Berkshire Hathaway. Then Michael Cembalest, the Chairman of Market and Investment Strategy for JPMorgan Asset & Wealth Management, joins the show to unpack how macroeconomic shifts are shaping his investment outlook. He discusses whether current conditions point to looming stagflation, offers practical advice for navigating today’s volatility, and shares why he’s still optimistic that markets could normalize.  Subscribe to the Prof G Markets newsletter  Order "The Algebra of Wealth," out now Subscribe to No Mercy / No Malice Follow the podcast across socials @profgpod: Instagram Threads X Reddit Follow Scott on Instagram Follow Ed on Instagram and X Learn more about your ad choices. Visit podcastchoices.com/adchoices

Scott and Ed discuss the latest U.S. GDP report, new data on China’s factory activity, and the launch of Amazon’s new internet satellites. Then they turn to Big Tech earnings, breaking down first quarter results from Apple, Amazon, Microsoft, and Meta. Finally, they examine the Trump administration’s decision to resume forced collections on defaulted student loans, discussing the broader implications and potential solutions for addressing student debt. Subscribe to the Prof G Markets newsletter  Order "The Algebra of Wealth," out now Subscribe to No Mercy / No Malice Follow the podcast across socials @profgpod: Instagram Threads X Reddit Follow Scott on Instagram Follow Ed on Instagram and X Learn more about your ad choices. Visit podcastchoices.com/adchoices

Scott and Ed discuss Huawei’s new challenge to Nvidia, Apple shifting U.S. iPhone production from China to India, and Spotify’s Q1 earnings report. Then Mark Mahaney, senior managing director and head of internet research at Evercore, returns to the show to share his top internet stock picks. He explains why he believes Google is the cheapest of big tech, highlights the strategic value of Waymo, and offers his insights on Uber. He also breaks down what’s driving market enthusiasm around Netflix and Spotify. Subscribe to the Prof G Markets newsletter  Order "The Algebra of Wealth," out now Subscribe to No Mercy / No Malice Follow the podcast across socials @profgpod: Instagram Threads X Reddit Follow Scott on Instagram Follow Ed on Instagram and X Learn more about your ad choices. Visit podcastchoices.com/adchoices

Scott and Ed discuss Trump’s decision to invite the top holders of his memecoin to a private dinner, Boeing’s first quarter earnings, and a new report underscoring the worsening wealth inequality in the U.S. Then, they explore how Trump’s policy reversals are undermining America’s global reputation in the markets. Finally, they break down Tesla’s first-quarter report, why the markets reacted so positively to the terrible results, and the key moments from the earnings call.  Subscribe to the Prof G Markets newsletter  Order "The Algebra of Wealth," out now Subscribe to No Mercy / No Malice Follow the podcast across socials @profgpod: Instagram Threads X Reddit Follow Scott on InstagramFollow Ed on Instagram and X Learn more about your ad choices. Visit podcastchoices.com/adchoices

Scott and Ed discuss the rally in the Euro and German bonds, Chinese state-backed funds pulling out of U.S. private equity, and Bill Ackman’s investment in Hertz. Then Ryan Petersen, the founder and CEO of Flexport, a leader in global supply chain management, joins the show to unpack the real-world impact of tariffs on American businesses. He breaks down how the levies will drive inflation, shares his outlook on the trade war with China, and explains how supply chains are rapidly reshaping. Subscribe to the Prof G Markets newsletter  Order "The Algebra of Wealth," out now Subscribe to No Mercy / No Malice Follow the podcast across socials @profgpod: Instagram Threads X Reddit Follow Scott on Instagram Follow Ed on Instagram and X Learn more about your ad choices. Visit podcastchoices.com/adchoices

Scott and Ed discuss gold hitting a record high, the Trump administration’s new restrictions on chip exports, and Jerome Powell’s comments on tariffs. Then, they unpack how other nations are pushing back against the tariffs, highlighting Trump’s key strategic missteps—including his underestimation of global rivals. Finally, they dissect the key moments from the Meta antitrust trial so far, with Scott laying out the economic upsides of breaking up the company, and Ed outlining how the FTC could actually come out on top. Subscribe to the Prof G Markets newsletter  Order "The Algebra of Wealth," out now Subscribe to No Mercy / No Malice Follow the podcast across socials @profgpod: Instagram Threads X Reddit Follow Scott on Instagram Follow Ed on Instagram and X Learn more about your ad choices. Visit podcastchoices.com/adchoices

Vote for Prof G Markets at the Webby Awards Scott and Ed discuss how the markets reacted to Trump’s tariff exemption on smartphones and computers, the dollar falling to a three-year low, and first quarter bank earnings. Then William Cohan, New York Times bestselling author and founding partner of Puck, joins the show to unpack the latest developments in the bond market. He explores the potential fallout of a credit crisis, weighs in on whether Japan and China are wielding the bond market as a geopolitical weapon, and offers his take on where the next wave of damage from the tariffs is likely to surface. Subscribe to the Prof G Markets newsletter  Order "The Algebra of Wealth," out now Subscribe to No Mercy / No Malice Follow the podcast across socials @profgpod: Instagram Threads X Reddit Follow Scott on Instagram Follow Ed on Instagram and X Learn more about your ad choices. Visit podcastchoices.com/adchoices

Scott and Ed dive into the ongoing trade war, unpacking how markets reacted to Trump’s 90-day tariff pause and the broader turmoil with China. They break down what may have just been the greatest day of insider trading in history, assess the damage to American 401Ks, and explore what likely drove Trump to hit pause on the tariffs. Scott also offers practical advice for weathering the uncertainty ahead.  Vote for Prof G Markets at the Webby Awards Subscribe to the Prof G Markets newsletter  Order "The Algebra of Wealth," out now Subscribe to No Mercy / No Malice Follow the podcast across socials @profgpod: Instagram Threads X Reddit Follow Scott on Instagram Follow Ed on Instagram and X Learn more about your ad choices. Visit podcastchoices.com/adchoices

Scott and Ed dive in and break down the massive volatility in the markets this week due to Trump’s tariffs. Then Gary Stevenson, host of the Youtube channel Gary’s Economics, joins the show to break down the roots of wealth inequality. He explains what he learned from the 2008 financial crisis, offers ideas for what could help bring back a strong middle class, shares his perspective on the trade war, and gives practical advice for navigating this rapidly changing world.  Vote for Prof G Markets at the Webby Awards Subscribe to the Prof G Markets newsletter  Order "The Algebra of Wealth," out now Subscribe to No Mercy / No Malice Follow the podcast across socials @profgpod: Instagram Threads X Reddit Follow Scott on Instagram Follow Ed on Instagram and X Learn more about your ad choices. Visit podcastchoices.com/adchoices

Scott and Ed dig into the rubble of the record breaking $6.6 trillion sell-off following Trump’s tariffs announcements. They break down how Trump determined the tariff rates, what the tariffs will do to company earnings and the real economy, and offer advice on how to deal with turmoil in the markets as an investor.   Vote for Prof G Markets at the Webby Awards Subscribe to the Prof G Markets newsletter  Order "The Algebra of Wealth," out now Subscribe to No Mercy / No Malice Follow the podcast across socials @profgpod: Instagram Threads X Reddit Follow Scott on Instagram Follow Ed on Instagram and X Learn more about your ad choices. Visit podcastchoices.com/adchoices