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This is Scott Becker with the Becker Private Equity Podcast. In today's story, here's 10 stories that we're following today, and I'll figure out whether I can come up with a better, more catchy title for that. But here are 10 stories we're following today. The first story is Elon Musk's SpaceX is being valued at $175 billion or more in a tender offer. Bloomberg reports this. Now, true story, I'll tell you this, we had a chance to try and invest in SpaceX a couple of years ago. That fell through. We tried to, but no such luck. We were lined up to do so through some finder of shares, didn't happen. I feel like it's the fish that got away or the perfect golf shot that just missed. It is what it is. And life goes on. But now, SpaceX, $175 billion, you want a must whether you love them or hate them, hits it out of the park and so many things. It's truly amazing. Second, layoffs are back. In November, saw the most layoffs in a couple of years. This year, we'll see the lowest hiring since 2015. Layoffs are double what they were in 2022.


A few layoffs that were just noted, Spotify layoff, Block layoff, Tidal layoff, another Silicon Valley company, as well as CBS station starting to lay off advertising people. So loss layoffs is our second story of the day. The third story of the day is the markets were whipsawed yesterday. They were up early, and then they were down. They're up again today. And they're up again today based on exactly the news we were just reporting about layoffs. If the labor market softens, and listen to our other podcast on the labor market softening when you can, just a handful of staff on the labor market softening, this leaves the Fed more likely to stop raising rates, the more likely at some point next year to lower rates. And that's giving a boost to the stock market date today. It's December seventh, 2023. Fourth, two of the episodes we published yesterday that got great commentary and downloads. First, we talked about is China and its debt downgrade a canary in the coal mine, in essence, is China's artificial growth that was death-infused, something we should worry about here? And second, we had a discussion that goes for life and business, the portfolio approach to life versus single mind and...


One may be more accomplished oriented, one may be less stressful, and each person has got to make their own decisions as to how they're going to approach life. Fifth story, Palantir, a Peter Thiel company dropped six % yesterday, but they've been crazy up this year, so we don't worry too much about Peter Thiel. Next, the one your Treasury rose yesterday, putting more cold water on the concept the Fed will start reducing rates early next year. But we'll see, because at the end of the day, the fact that job market is softening is probably the biggest leading signal or indicator that the Fed at some point will soften its rate hikes and start to reduce rates. The next story we're following is Kerby Smart. Kerby Smart is the fantastic football coach at Georgia. And Kerby has won two national titles in a row. Their program was named number one in the country. He then lost to Alabama last weekend and now is not in the College football chance to this year. And Kerby Smart, being the great coach he is, he is what he is, should say this, I'm sorry we didn't make it. I respect the committee's decision.


We played our hearts out, but it is what it is. Alabama beat us, and there's other programs that got in this year. We'll get back to it next year. Instead, Kerby Smart did what it seems like all coaches do today is he started the whining Brigade, started whining about not getting in. To me, it's essentially despicable behavior. It's almost behaving like a bad litter week parent, a bad tennis parent. To me, it's embarrassing. It's like your kid gets into great schools and he was at a wine that he didn't or she didn't get into a different school. It makes me feel like he's more acting like Felicity Huffman than the Kerby Smart that he is. I hope to walk his comments back. We understand that they can't help themselves. It's what some of these coaches do. But I thought Kerby Smart, after winning two national titles, would have been more comfortable just taking the high road and saying, We respect the committee. They certainly treated us well over the years. It is what it is. That's Kerby Smart today. The next door we're following is Nikki Haley. She is rising in the Republican polls. She's now second after Donald Trump.


I've had the chance to interview Nikki Haley twice. Absolutely, I'm a fan of hers and the big scheme of things, but fascinating to see what's going on there. And I don't know if there's any stopping Donald Trump and President Biden between the two nominees, but what a mess that would be. The next door we're following is McKinsey greatly reduced to this new partner class. The question really is, will this be a signal for other consulting and law firms? Finally, I'm thrilled to see both the Becker's Health Care and Becker's Private Equity Podcast in the 2025, the Apple Businesses rankings, great help from a lot of people to get there. But you're also thrilled to see some of our episodes released with Amber Walsh, and Taylor McCand-Marty, and Holly Buckley, and Tim Fry at the intersection of Health and Private Equity do so well and download on the two podcasts. Thank you very much for listening to the Becker Private Equity Business Podcast. If you have any comments or questions, feel free to reach me. 773-766-5322. Thank you for listening.