Is the American Dream Dead? w/ Freddie Smith

Over the past 50 years, Americans created roughly $140 trillion in new wealth. Roughly two SpaceX’s worth of wealth reached the bottom half. Actor-turned-economic-commentator Freddie Smith argues the American dream isn't dead, but the timeline to reach it has become unreasonable for the typical worker. Is he right, and what would it actually take to fix it?

Ricky Mulvey and Malcolm Ethridge are joined by Freddie Smith, author of the upcoming book Generation F****d, to discuss:

Freddie's radical tax plan: scrap every federal tax and replace it with a 10% levy on gross revenue.

The case for banning stock buybacks, and Malcolm's pitch to just raise the dividend instead.

How a capital gains tax holiday for mom-and-pop landlords could unlock frozen housing supply.

Whether regular 401(k) investors are locked out of the real growth happening in OpenAI, Anthropic, and SpaceX.

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Hosts: Ricky Mulvey, Malcolm Ethridge

Guest: Freddie Smith

Engineer: Tim Sparks

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Google is raising $80 billion, and nearly 40% of it is going to the IRS, not data centers. Is Big Tech cutting employees to pay a tax bill?

Ricky Mulvey and Malcolm Ethridge discuss:

Why index funds are forced to buy SpaceX at a bad time

The Nasdaq rule change that helps big IPOs, and possible reasons why the exchange declined to answer Ricky's questions

Why Malcolm is making a list of stocks to buy when the hype dies

Whether RocketLab is still a good investment.

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Hosts: Ricky Mulvey, Malcolm Ethridge 

Engineer: Tim Sparks

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SpaceX is mostly an AI company now. Or, that’s where it sees most of its total addressable market in one of the largest economic opportunities “in human history.” Well, that's according to the company. Malcolm is more skeptical. Is this the last big bang in the AI bull market?

What's buried in the SpaceX S-1 that nobody's talking about.

Whether OpenAI's IPO will land with a thud in SpaceX's shadow

Gen Z trading bars for $300-a-month gyms — status symbol or genuine shift?

Why ChatGPT gave Ricky very bad advice in a Tokyo pharmacy

How American entertainment companies could build “venture capital arms” for content.

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Hosts: Ricky Mulvey, Malcolm Ethridge 

Engineer: Tim Sparks

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Malcolm flies solo this week to break down one of the more generous early retirement packages in recent memory, and whether "generous" and "right for you" are actually the same thing. He covers:

- What makes Microsoft's offer different from a typical severance package (hint: five years of health care)

- The three-bucket framework for deciding if you can actually afford to say yes

- Why your RSU vesting window might matter more than the cash payout

- The tax trap hiding inside the year you accept, and how charitable giving can help offset it

- What saying no might actually be signaling about your job security

Host: Malcolm Ethridge

Engineer: Tim Sparks

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Meta is losing users for the first time in company history. It has a mountain of debt loaded in other development companies. Is this a blip for an unstoppable force or the beginning of a slow decline?Ricky Mulvey and Malcolm Ethridge discuss: - America’s debt problem, and the landmark of owing more than it makes. 

- Strategy backtracking on permanent bitcoin ownership.- Why AI stock trading bots lose money, or the ones we know about. - If Meta is about to follow the same path as Yahoo and AOL.Want to contact us? [email protected] We are proud to be in the Airwave Media network! Please contact [email protected] if you would like to advertise on our podcast.Hosts: Ricky Mulvey, Malcolm EthridgeEngineer: Tim Sparks

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This isn’t just like the dot-com boom, but you’ll find pockets of “irrational exuberance” if you look a little bit. Ricky Mulvey and Malcolm Ethridge discuss: 

- How arena football shows the “dark part” of the American Dream. 

- Why Malcolm believes that parts of the stock market are overheated and what he’s actually doing with his own money. 

- If Robinhood can be a casino and a long-term financial advisor. 

- Who is making most of the money on prediction markets.

Question for the show? Email us at [email protected] 

We are proud to be in the Airwave Media network! Please contact [email protected] if you would like to advertise on our podcast.

Hosts: Malcolm Ethridge, Ricky Mulvey

Engineer: Tim Sparks

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Someone at OpenAI leaked that it is missing targets, but they didn't leak the numbers. That's either a red flag or a setup. Malcolm Ethridge and Ricky Mulvey discuss:

The OpenAI leak: why leak a miss without leaking the actual numbers?

Meta deception, the magic trick concept that might explain how big companies manage investor expectations

Big tech earnings: Meta's ad machine is working, and Malcolm explains why Amazon's chip business may be the most underrated AI story

Starbucks vs. the K-shaped economy: what delivery orders and $6 California gas tell us about where the real cracks are showing.

Why the stock market keeps shrugging off the Iran War.

Micron skepticism: listener question on a stock up almost 6x in 12 months that still looks cheap on paper

Tim Cook's legacy and the three problems for new CEO John Ternus.

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Hosts: Malcolm Ethridge, Ricky Mulvey

Engineer: Tim Sparks

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The companies building the AI future are the same ones laying off thousands of employees. This means that the AI story is changing. LLMs aren’t taking jobs quite yet, but AI companies that took on mountains of debt are cutting staff while interest rates rise.

Malcolm Ethridge and Ricky Mulvey discuss:

Why Malcolm sold his entire ASML position and trimmed Nvidia.

The AI debt trap: how Microsoft, Meta, and Oracle are cutting jobs to pay for the AI buildout.

Advice if you ever get a “voluntary buyout” from your boss

The used EV flood. 600,000 leased EVs return to dealerships next year; more than the number of all used EVs sold last year.

How automakers’ accounting mistakes could be good news for car buyers

The Michael Jackson biopic, and the disconnect between critics, movie goers, and the economy.

Why Malcolm is buying American Express and betting on the K-shaped economy

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Hosts: Malcolm Ethridge, Ricky Mulvey

Engineer: Tim Sparks

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Is the stock market ignoring the war in Iran? And why did Allbirds shoot up 800% in one single day?

Jason Moser joins Ricky Mulvey to talk about:

How solid earnings results are powering stock prices.

Why Allbird’s pivot to AI is one of the most insane business stories ever.

Ricky’s reporting on suspicious trades in the futures market.

Stocks and ETFs that JMo has been buying.

Host: Ricky Mulvey

Guest: Jason Moser

Engineer: Tim Sparks

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SpaceX could be the biggest IPO in history. Is this the beginning of the space economy, or peak optimism?

Ricky and Malcolm sit down with Yuri Khodjamirian, CIO of Tema ETFs, which runs the NASA ETF, an actively managed space fund.

They discuss:

Why falling launch costs are the key to the space economy.

How a publicly traded ETF can own non-public shares of SpaceX.

If AST SpaceMobile is a real opportunity or too far along in the hype cycle.

The hidden SpaceX suppliers that investors may want to know.

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Hosts: Malcolm Ethridge, Ricky Mulvey

Guest: Yuri Khodjamirian

Engineer: Tim Sparks

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