The All-In Podcast
David Friedberg Explains AI's Abundant Future
" That means more time with your family, more time with your friends, more time to explore interesting opportunities."
AI's positive outcomes are being underestimated 🧠
"Folks are underestimating and under realizing the benefits, at this stage, of what's going to come out of the AI revolution and how it's ultimately going to benefit people's availability of products, cost of goods, and access to things."
AI will have a huge deflationary impact on the price of goods and services 📉
" Let's assume that the cost of everything comes down by half."
"That's a huge relief on people's need to work 60 hours a week."
"Suddenly, you only need to work 30 hours a week, and you can have the same lifestyle or perhaps even a better lifestyle than you have today."
Which will lead to less time spent working and more time for family and leisure 🏖️
" I think the next phase is we're gonna end up in less than 30 hours a week with people making more money and having more abundance for every dollar that they earn, with respect to what they can purchase and the lives they can live."
" That means more time with your family, more time with your friends, more time to explore interesting opportunities."
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David Friedberg Explains AI's Abundant Future
" That means more time with your family, more time with your friends, more time to explore interesting opportunities."
AI's positive outcomes are being underestimated 🧠
"Folks are underestimating and under realizing the benefits, at this stage, of what's going to come out of the AI revolution and how it's ultimately going to benefit people's availability of products, cost of goods, and access to things."
AI will have a huge deflationary impact on the price of goods and services 📉
" Let's assume that the cost of everything comes down by half."
"That's a huge relief on people's need to work 60 hours a week."
"Suddenly, you only need to work 30 hours a week, and you can have the same lifestyle or perhaps even a better lifestyle than you have today."
Which will lead to less time spent working and more time for family and leisure 🏖️
" I think the next phase is we're gonna end up in less than 30 hours a week with people making more money and having more abundance for every dollar that they earn, with respect to what they can purchase and the lives they can live."
" That means more time with your family, more time with your friends, more time to explore interesting opportunities."
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Wall St Engine
TRUMP said, 'If the courts rule against us on tariffs, other countries could hold our nation hostage with anti-American tariffs,' which he warns could lead to the economic ruination of the United States. https://t.co/cDZC8s5V4z
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TRUMP said, 'If the courts rule against us on tariffs, other countries could hold our nation hostage with anti-American tariffs,' which he warns could lead to the economic ruination of the United States. https://t.co/cDZC8s5V4z
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Capital Employed
RT @VictoriousInv: Thanks for the shoutout! There’s some phenomenal stock pitches & interviews here.
Recommend a read.
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RT @VictoriousInv: Thanks for the shoutout! There’s some phenomenal stock pitches & interviews here.
Recommend a read.
49 ‘fresh-off-the-press’ stock pitches we’ve enjoyed reading in the past two weeks 👇
https://t.co/R8JChwVNsJ https://t.co/4tSCje8oq1 tweet
Wall St Engine
Today's Key Events (All EST) — 06/02/2025
09:45: US S&P Mfg. PMI
10:00: US ISM Mfg. PMI
10:00: US Construction Spending
10:15: Fed's Logan
12:45: Fed's Goolsbee
13:00: Fed's Powell Speaks
Before Open 👇
07:05: Science Applications International $SAIC
07:15: Campbell Soup $CPB
After Hours 👇
04:05: Credo Technology $CRDO
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Today's Key Events (All EST) — 06/02/2025
09:45: US S&P Mfg. PMI
10:00: US ISM Mfg. PMI
10:00: US Construction Spending
10:15: Fed's Logan
12:45: Fed's Goolsbee
13:00: Fed's Powell Speaks
Before Open 👇
07:05: Science Applications International $SAIC
07:15: Campbell Soup $CPB
After Hours 👇
04:05: Credo Technology $CRDO
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Wall St Engine
DOLLAR SHORTS NEAR 2023 HIGHS
Speculators are still heavily short the dollar, and Morgan Stanley now sees a 9% drop in the USD Index to 91 by mid-2026 as Fed cuts rates and growth slows. Euro could hit 1.25, yen 130, pound 1.45, per MS. https://t.co/IsABpqetY8
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DOLLAR SHORTS NEAR 2023 HIGHS
Speculators are still heavily short the dollar, and Morgan Stanley now sees a 9% drop in the USD Index to 91 by mid-2026 as Fed cuts rates and growth slows. Euro could hit 1.25, yen 130, pound 1.45, per MS. https://t.co/IsABpqetY8
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Wall St Engine
FED’S WALLER: ‘GOOD NEWS’ RATE CUTS STILL POSSIBLE THIS YEAR
Fed Governor Christopher Waller said he still sees room for rate cuts in 2025, despite tariffs likely boosting inflation in the short term. “Assuming... underlying inflation continues to make progress... and the labor market remains solid, I would be supporting ‘good news’ rate cuts later this year,” he said Monday in Seoul.
He now assumes a 15% average trade-weighted tariff, midway between his earlier “small” and “large” scenarios. Waller also warned that the $2T U.S. fiscal deficit is driving up long-term Treasury yields: “It’s not a matter of demand, it’s about price.”
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FED’S WALLER: ‘GOOD NEWS’ RATE CUTS STILL POSSIBLE THIS YEAR
Fed Governor Christopher Waller said he still sees room for rate cuts in 2025, despite tariffs likely boosting inflation in the short term. “Assuming... underlying inflation continues to make progress... and the labor market remains solid, I would be supporting ‘good news’ rate cuts later this year,” he said Monday in Seoul.
He now assumes a 15% average trade-weighted tariff, midway between his earlier “small” and “large” scenarios. Waller also warned that the $2T U.S. fiscal deficit is driving up long-term Treasury yields: “It’s not a matter of demand, it’s about price.”
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Wall St Engine
Samsung is close to investing in Perplexity AI & integrating its search and assistant tech across its devices, per Bloomberg. Talks include preloading Perplexity on future phones—possibly as a default assistant starting with Galaxy S26—& weaving it into Samsung’s browser & Bixby. https://t.co/TpEIPkunPA
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Samsung is close to investing in Perplexity AI & integrating its search and assistant tech across its devices, per Bloomberg. Talks include preloading Perplexity on future phones—possibly as a default assistant starting with Galaxy S26—& weaving it into Samsung’s browser & Bixby. https://t.co/TpEIPkunPA
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Wall St Engine
At least 10% of wealthy non-doms have already left the UK after PM Keir Starmer’s government scrapped the special tax regime and extended the 40% inheritance tax to overseas assets, per a new report by former Treasury economist Chris Walker.
The Centre for Economics and Business Research says the reforms could cost the Treasury if more than 25% of non-doms depart. The OBR currently assumes a 12% exit rate — but calls its forecasts “very uncertain.”
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At least 10% of wealthy non-doms have already left the UK after PM Keir Starmer’s government scrapped the special tax regime and extended the 40% inheritance tax to overseas assets, per a new report by former Treasury economist Chris Walker.
The Centre for Economics and Business Research says the reforms could cost the Treasury if more than 25% of non-doms depart. The OBR currently assumes a 12% exit rate — but calls its forecasts “very uncertain.”
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Wall St Engine
Jefferies Upgrades $ROL to Buy from Hold, Raises PT to $65 from $55
Analyst comments: "We view Rollins as a high-quality earnings compounder driven by consistent HSD% organic growth, steady margin expansion, and potential for tuck-in M&A. Based on our analysis of sales professional hiring activity, stepped-up advertising spend, and a strong pricing track record, we have increased confidence that the pace of organic growth can continue for the foreseeable future. Specifically, ROL job listings for sales professionals were ~49% and 40%, above historical averages for 2024 and 1Q25, respectively. All in, we’re raising our 2025 and 2026 organic growth estimates to 7.8% and 7.5%, respectively (from 7.5% and 6.6%). Beyond the best-in-class top-line growth story, ROL can also further cement itself as having best-in-class margins as we see EBITDA margin expansion of 60bps in 2026 to 24% as the strong organic growth enables operating leverage, paired with ongoing SG&A reduction. Our $65 PT assumes 32x our 2026 EV/EBITDA est, a premium we believe is warranted given its HSD% organic growth, ~12% EBITDA growth, and 14% FCF growth profile."
Analyst: Stephanie Moore
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Jefferies Upgrades $ROL to Buy from Hold, Raises PT to $65 from $55
Analyst comments: "We view Rollins as a high-quality earnings compounder driven by consistent HSD% organic growth, steady margin expansion, and potential for tuck-in M&A. Based on our analysis of sales professional hiring activity, stepped-up advertising spend, and a strong pricing track record, we have increased confidence that the pace of organic growth can continue for the foreseeable future. Specifically, ROL job listings for sales professionals were ~49% and 40%, above historical averages for 2024 and 1Q25, respectively. All in, we’re raising our 2025 and 2026 organic growth estimates to 7.8% and 7.5%, respectively (from 7.5% and 6.6%). Beyond the best-in-class top-line growth story, ROL can also further cement itself as having best-in-class margins as we see EBITDA margin expansion of 60bps in 2026 to 24% as the strong organic growth enables operating leverage, paired with ongoing SG&A reduction. Our $65 PT assumes 32x our 2026 EV/EBITDA est, a premium we believe is warranted given its HSD% organic growth, ~12% EBITDA growth, and 14% FCF growth profile."
Analyst: Stephanie Moore
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