Hello show notes readers!

Welcome to another episode of Unqualified Advice. We ask some hard questions this week. Did all high school guidance counselors suck? Should Dan have been a Rabbi? What are the physics of the shaggy dog van from dumb and dumber in a torrential downpour? Listen in as we ponder these important questions, and join us in media res as Sean describes a duh moment he had while reading Howard Marks' September 2024 memo Shall we Repeal the Laws of Economics? We're pretty sure the answer is no, but why don't you join us and see what you think?

Companies Discussed

• Oaktree Capital Management (Howard Marks)
• Uber
• McDonald's
• Taylor Swift (kinda a company?)
• StubHub
• Ferrari
• IBM
• Oscar Mayer
• Apple
• RadioShack
• Clarkson's Farm
• Anduril Industries
• Coca-Cola

Books Recommended

• "The Psychology of Money" by Morgan Housel – Referenced during a discussion about the paradox of wealth and perception, specifically regarding people buying expensive items for external validation.

• "The Comfort Crisis" by Michael Easter – Mentioned in relation to the idea of seeking discomfort to grow, and how modern life is often too comfortable.

00:00 Intro and Theme
01:27 Discussing Howard Marks and Some Serious Questions
03:44 Understanding Price Dynamics and Market Forces
06:06 The Role of Auctions in Pricing
08:30 Consumer Behavior and Pricing Perceptions
14:26 Pondering the Physics of the Shaggy Dog Van
16:08 Stated vs. Revealed Preferences in Economics
22:09 Did All Guidance Councilors Suck? Should Dan Have Been A Rabbi?
26:39 Zooming Out on Inflation & Zooming in on Tariffs
32:33 What Will "Made in the USA" Look Like Tomorrow?

Hello show notes reader!

It's been one of those 50 hour weeks with 40 hours of meetings. You know what I mean? No, well we talk about it this week, along with dreams of bugging-off to an island somewhere.

In fact, I'm gonna bug-off and turn the rest of these notes over to GPT, while I have a beer:

In this episode of Unqualified Advice, Daniel Hatke and Sean Filipow cover a mix of personal anecdotes, fitness challenges, and deeper discussions on technology and the future. Daniel recounts his Labor Day weekend, sharing details about his family’s activities and a recent sprint duathlon he completed. The duo dive into a conversation about data centers, AI development, and power consumption, sparked by a recent Invest Like the Best episode featuring Gavin Baker. They explore the challenges of energy efficiency in data centers and Tesla's advancements in AI and autonomous driving. The hosts also reflect on the complexities of climate change, renewable energy, and the material requirements for a sustainable future. The episode wraps up with musings on travel plans to the Philippines and Vietnam, the frustrations of dynamic pricing, and potential domestic and international business ventures.

Cheers,

Sean

Companies Discussed

• Tesla
• Waymo
• Shake Shack
• Kaiser
• Bucky’s (#IYKYK)

Chapter List

00:00 Introduction and Labor Day Weekend
03:42 Preparing for an Ironman Race and Vaccine Considerations for the Philippines
06:00 Vaccines for the Philippines and Monkeypox Concerns
11:27 Exploring the Investment Potential of AI Technology
17:14 Challenges of Materials Extraction for Renewable Energy
18:26 Dan Explains What Goes Down in a Datacenter
24:52 Advancements in Self-Driving Technology
27:31 Electric Cars and Transportation
30:52 Kiosks: Customer Experience and Efficiency
34:58 Dynamic Pricing and Consumer Behavior
38:29 Planning for International Travel
42:12 Planning Sessions and Work Efficiency
44:45 Travel Plans and Exploring New Destinations
46:58 Dreaming of a Different Lifestyle

Hello dear show notes reader,

What makes a toddler brave? How should you think about the scale of massive infrastructure projects and their impact on the surrounding community? What should you consider when dealing with your cranky boss?

Are we just getting old?

Tune in as we mull over these questions and more in this episode of Unqualified Advice.

Chapters

Hello show notes readers,

Thanks for tuning into another episode of Unqualified Advice. We went all over the place this time. Here is what you can look forward to in this episode:

Chapters

Companies discussed

• NBC/Peacock - Mentioned in relation to the Olympics broadcast and the iconography used for sports like beach volleyball.
• AMC Theatres - Discussed in the context of the movie-going experience, including concessions like Pepsi vs. Coke.
• Regal Cinemas - Compared with AMC in terms of concessions offered (Pepsi vs. Coke).
• Pepsi - Discussed as the concession choice at some movie theaters and in certain towns.
• Coca-Cola (specifically Cherry Coke) - Preferred by Sean over Pepsi at movie theaters.
• Epic Pass (Vail Resorts) - Mentioned in relation to the Pepsi contracts at certain mountain towns.
• Microsoft - Discussed in the context of IT issues, particularly with email and cybersecurity.
• CrowdStrike - The main focus of a cybersecurity incident that impacted IT systems.
• Symantec and McAfee - Mentioned in relation to antivirus and security software operating at the kernel level.
• BNY Mellon and JPMorgan - Referenced in relation to the flow of government money and financial systems.
• Fastenal, MSC, Grainger, Snap-on - Industrial supply companies mentioned in the context of economic conditions and sales trends.

“Find at least one person who is just really, really good at calling out your bullshit. Cause we all do it.” -Daniel Hatke

Hello show notes readers,

We covered two primary topics in this episode. One intuitively seems to be very important and valuable, Strategy Time. The second has been this Clark Kent’s yellow sun, my Personal Board of Directors.

Why are they so helpful?

Bokonon on the Quest for Understanding

Tiger got to hunt,

Bird got to fly,

Man got to sit and wonder, "Why, why, why?"

Tiger got to sleep,

Bird got to land,

Man got to tell himself he understand.

As always, thanks for listening.

-Sean

Hello dear listener,

This episode was originally recorded in June but it's release was delayed by, we'll say, a bit of weather. Sadly, I need both internet and power to make the publishing magic happen. Dan and I appreciate your patience. Anyway, onto the show notes!

Hearts,

Sean

Recommendations

Dan recommends Factfulness by Hans Rolling, saying "if you want to feel good about the world that we live in and the time that you live in, backed by data, read the book." Sean plans to check it out.

Sean picked up Red Notice by Bill Browder based upon Dan's recommendation. Other than some boring details on company valuations in the post-Soviet era, it is a gripping story of evolution of the Russian society and a deep look into the problems lurking within its government.

We referenced The Fourth Turning is Here, again. We heartily recommend this book and are currently working through it's predecessor The Fourth Turning. Expect a very special episode about this book, sometime before the first Tuesday in November.

Updates

We asked "will Keith Gill (a.k.a. Roaring Kitty) get sued?" We said yes. The answer is yes. We missed what he's done with $CHWY.

Elon got paid!

Interest rate futures markets, the unreliable beasts they are, have moved to predicting two cuts in 2024.

• Prostate health.
• How the language used by the Federal Reserve can have a significant impact on the markets.
• No recession in 2024.
• The potential impact of tariffs and the strength of the U.S. dollar on industries like energy and manufacturing.
• The power of belief and manifestation in shaping outcomes.
• The ESG market's risks and challenges: we're due for a scam.
• Regenerative farming practices.
• The carbon footprint of electric vehicles (not as good as you think)