The Real Deep State
The Gist
Peach Fish Productions
4.5 • 3.7K Ratings
🗓️ 27 July 2018
⏱️ 25 minutes
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| 0:00.0 | Sometimes running a business can feel like cycling uphill with square wheels. |
| 0:07.0 | But zero online accounting software can help predict the future cash flow of your business. |
| 0:15.0 | So you can stay one step ahead. Soon it'll feel more like free-wearing downhill. |
| 0:21.0 | On a tandem! What, mate? With a messer on the back. |
| 0:25.0 | Oh, that's nice. |
| 0:26.0 | Search zero with an AX. Because healthy business is beautiful business. |
| 0:30.0 | Let me be explicit. Right now, in this podcast, there's some explicit language. |
| 0:38.0 | It's Thursday, July 26, 2018 from Slate. It's the GIST I'm Mike Pesca. |
| 0:43.0 | You know how they say, hanging, concentrates the mind? I guess people witnessing the hanging from the outside. Say that. |
| 0:50.0 | Well, I would say the modern version of this is it takes a gigantic stock dip to clarify your opinion on a tech company. |
| 0:57.0 | Because yesterday, Facebook announced that revenue had missed analyst estimates. |
| 1:02.0 | It's going to grow by a 13.2 billion. They had estimated 13.1 billion. |
| 1:07.0 | Okay? So, 0.1 billion is $100 million. That's how much they missed earning estimates by. |
| 1:12.0 | And the stock was punished to the tune of about $120 million. |
| 1:16.0 | How does this make sense? Well, I'll tell you it's because it's not just that one time missing estimates. |
| 1:21.0 | Facebook is now saying that revenue is going to grow a little more slowly in the future. |
| 1:26.0 | And I'm really concerned. I'm worried that Zuckerberg's going to have to switch to the miracle whip after this one. |
| 1:31.0 | Now, if you asked me, Mike, what do you think of Facebook? |
| 1:34.0 | In the abstract, I'd be ambivalent. I'd say, no! Don't love Facebook. Don't love actually interacting on Facebook. |
| 1:40.0 | Yeah, I know it has potential. |
| 1:42.0 | But it also has shown that it can sow the seeds to great chaos. So, little of this little that. |
| 1:47.0 | Yet, when I heard it plunge 20%, I got to tell you I had this immediate visceral reaction. |
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