Wait, College is Getting Cheaper? & BYD is Outselling Tesla
31:41 Share

The holidays are finally making their way back around, which means gift giving season is almost here as this holiday party season. Whether you're hosting or gifting, there's nothing that elevates the season quite like music, especially when those tunes are flowing through a sono speaker or sound bar. Sonus works with award winning artists, producers and sound engineers to find tuner products and ensure they deliver the highest quality sound.

Listen to all of the Christmas music you want and watch of your holiday movie classics. Sonus makes everything sound crisp and clean. It's basically your personal cinematic sound experience need a greek up for someone or everyone on your list visit sono stock com lash blue to shop the selection that S O N.

O S doc com flash brew good morning over daily show. I'm your friend and i'm so we have today college tuition is going down, 喂。

Then the U. K. Is rolling out its biggest tax increase in generations to avoid following further behind the united. It's friday, november first. Let's ride.

Good morning to everyone waking up from their Candy coma or who couldn't sleep at all after a horr movie marathon. Hope IT was a great halloween big weekend coming up. Daylight saving time is ending early sunday morning, which means to get one extra hour of sleep, but is going to get dark out real early to me. How are you celebrating?

I'm celebrating by going for a little jog running at the new york city marathon on sunday. And i've gotten a few questions on how potential you could fall along if you do want to follow along, download new ork city marathon APP and search my bib number, which is four, nine, two, six, or my name toby. Hello, I will be wearing all orange head to toby because i'm running the race in partnership with hub spot, so I will be hard to miss all.

I request that if you see me, give me a hearty a lets ride, or maybe even on nails and numbers. But yes, hope to see you out there. The one other thing I do want to plug two is new.

And I are hosting a shake out run in partnership with hok a the day before the race. So if you are running the race or just wanna hang with us to jog a few miles, meet at a flagship hook store on fifth ave. At noon on saturday, it's gonna be a good time.

Nothing like race week in the new york on the new york marathon. Now, a word from our sponsor, but nobody s neil. I cannot believe IT, but this is our last but nobodies.

But think of the memories we made along the way, from wearing our bonobo suits on the pod to hosting our first ever trivia night, with, when we got to meet sum of you all in person, the nobodies M B D R, A perfect fit.

We started off talking about how the nobodies to away span helps get rid of the dread debug, and finished by hosting an incredible review night that is called a growth right.

their ladies and gentleman. But your relationship with the novos doesn't have to end when our ads do. If you are interested in finding your fit, had to a babble store near you or visit noble .

stock comment, enter code a bu twenty for twenty percent off. That is, code a bu twenty for twenty percent off.

We need to talk about college tuition Prices. You probably just broke out into a cold sweat. He's gone to talk about how they're spiking even more, you think.

But on the contrary, I come bearing good, incredibly surprising news. The cost of college is going down. A new report by the college board found that tuition at many of the nation's colleges and universities hasan flat or is in decline. In fact, public flagship universities in forty five states charge less for tuition and fees, and twenty four, then in twenty twenty, after inflation, even private nonprofit colleagues are getting cheaper. Average tuition and fees have fAllen for nearly nineteen thousand dollars in twenty fourteen to about sixty thousand dollars, five hundred and twenty and twenty four after accounting for inflation.

And eight and all that apart you mentioned is key. The college board said that tuition is going down partly because they're been an influx of money to colleges from federal, state and local governments. After decades of states pulling back on funding education appropriations, powerful time called student has surpassed two thousand eight levels in half of all states. This is probably coming as a shocked to a lot of people.

ourselves included. absolutely. Earlier this spring, I read this headline that showed that one admitted student to vander bill got a all in bill for college that ran ninety thousand four hundred and twenty six dollars.

And why you tough Brown, yale, washington university and other colleges all charge more than ninety thousand, ours for the twenty twenty four, twenty twenty five academic year. So when you see headlines like that and just start intuitions and how much we pay for college, we d like, oh my god, you know, college costs are out of control. They are only going up.

But that is just not the case when you actually look at the fight and print because of aid and things like that. At four year public schools, thirty one percent of students paid nothing for tuition and fees, and eighteen percent of students at private colleges and universities also qualify for the same deal. So colleges have this thing where they put out the sticker Price to the world. They gets broadcasting and headlines all over and what you actually pay is a lot less. And the overall trend line is staying flat or even going down, which is a huge surprise.

IT was a huge surprise. College is a competitive market just like any other market. I mean, we see the restaurant and right now fighting over customers by in Prices.

Same is kind of true for colleges. More colleges are competing for a smaller pool of perspective high school students. So they're really been forced to make a tuition cheaper in the way that they are doing. That is because a lot of state and federal funding is flowing into these universities. A lot in the decline in net Prices of stake holes is because they are getting um more funding.

And I think IT is we have to go back to another story we did um which was a bunch of north east students are now going to college in the south because states are learning that if you can get people, Young people, Young calls, educated people to move to your state and go to college, a lot of them stick around. IT has a big impact on local economies. About two thirds of college graduates do end up working in the states for the attending college. I think that might have been a little bit of a wake up moment that maybe we shouldn't pulling funding away from making college more formal. We should be putting more funny funding into that.

People listening to this, and I relishing this. I probably, you know, tell you, went to college, you know that tuition and fees are just a fraction of what you'd pay. What about all in costs, room, board, personal expenses, textbook things like that? That must be going up right? Well, yes, a little bit, but not by much as inflation at all.

The net cost of attendance going into twenty twenty four, twenty twenty five school universe the previous year year at private universities was up one point four percent lower than inflation, up by less than one percent at public four year institutions, much less than inflation. So even the OK alien costs are going up by lesson inflation, which we know has been going up a ton in the last for years. Another hopeful stat here is we talk a lot about the student loan crisis in people piling up student debt.

Well, under grad borrowing is down for the thirteen th consecutive year. That's also a news item. You probably haven't heard undergrad students and their parents barrows ninety nine billion dollars in federal private loans last school year, which is down from a peek of one hundred and fifty nine billion in two thousand and ten, in two thousand and eleven.

And a lot of this is attributed to the fact that just fewer people are going to college. We have a bit of a demography issue going on with your Young people getting born and going to college p college and peaks in the united states in twenty ten, eighteen point one million people in twenty twenty one, that was down to fifteen point four million. And the incoming freshman class for twenty twenty five, twenty twenty six is expected to be down five percent.

So you're right, colleagues are in a oo battle to compete for students, and they are having to lower tuition. Uh, just something I H A new side of I never thought to talk about. Okay, let's head to the U.

K. Where if you're the kind of person who has a Butler named cuthbert and flies and private jets, you might want to skip to the next story. Britain's ruling labor party, who asked to the conservatives this summer, unveiled their much anticipated budget yesterday, and IT proposes a major tax hike on the wealthy to pay for more public spending.

How major are we talking? The government wants to raise fifty two billion dollars in new taxes, which is the biggest increase in the generation as promised in their campaign this summer. Labor is going after the one percent with these taxi x.

They include new taxes on inherit wealth, capital gains and the jet setting crew who live in the U. K. But make their money elsewhere.

Speaking of jet setting, taxes will be increased for private jet flights and a tax break for private school fees will be removed. Employers will also be required to pay higher taxes on their worker's salaries. And introducing the budget. Finance minister, Rachel reves, who, interesting fact, is the first woman to hold the position in the eight hundred years IT has existed, blame the conservatives for presiding over a lagging economy that has been left in the dust by the united states. He said this budget was a responsible course forward to get public finances in order in kickstart economic growth.

I mean, something had change over the U. U. K. So you might as well go big.

The head of the government budget watchdog said that this is, quote, one of the largest increases in spending, tax and borrowing or of any fiscal event in history. So I mean, a little dramatic there, but is a massive gap between the U. S.

And european economies in general, not just the U. K. Real growth domestic product has risen ten point seven percent in us compared with propane delic levels compared that to around europe.

France is languishing at three point seven percent growth. Britain is at just two point nine percent. Growth in germany is at zero point two percent.

So there is just I mean, you can call a black hole left by the conservative party, but there is just a sort of economic modes settling in around europe and around the britain itself. So they think that this is the the right path. Ford, increase taxes so we can increase public spending, increase public investment, try to get out of this hole that we've been stuck. In sense.

the pandemic investors are a little wary that this will kick start growth, though yesterday there was some major moves in the U. K. Bond market, which I know everyone has attention to, but you should pay attention to IT because bad deals jumped the most in a year.

So bored that a proxy for borrowing costs, they are now the highest level in the year in the U. K, which is an indication that investors aren't so bullish, ed, that this new budget over the next in the near term or the long term will produce any meaningful gains in growth. Uh, the labor party would contend that.

But the conservatives, there's been a war of words that are going on between the labor and conservatives who they asked IT after fourteen years, former prime minister rich snake. He called the budget an enormous borrowing spree that contains broken promise after broken a promise. So we have investors and the conservatives saying one thing and the labor saying one thing, trust us.

We need to. At the spending, we need to start spending on infrastructure. Here in the united states, there has been a ton of spending.

Biden administration has done a lot of infrastructures spending, things like the I R A， the inflation reduction act to spur economic gross. So that's kind of what the U. K.

Is going after as well. I think the U. K. Is trying to paint this picture where they're saying we have so much public det. Right now.

And what is doing is sapping our ability to invest in things like infrastructure. So much of the government's budget has been just who hovered up if if you want to use A U. K.

Term there by a borrowing costs. So they're trying to say we need to invest in our rumbling public services. We need to reduce the debt burden that we're facing right now.

And I think the path word is through higher taxes on the one percent like a lightning, me, a queen and cars three. Tesla is getting passed by a Younger, faster car maker. Byd, the chinese E, V maker leap frog, is elder competitor, posting revenue in the third quarter that topped tesla for the first time ever.

A twenty four percent rise from last year sent profits to twenty eight billion dollars, edging out teslas twenty five billion. Docu 3 is the first time that byd knows the head booed by record vehicle sales despite a bit of an evy slowdown in china over the past few quarters。 Luckily for byd, though, IT doesn't just sell E V.

About half of its sales are actually hybrid vehicles. So tesla fans, yes, IT is still the biggest pure E, V seller in the world, and IT does have the most popular battery powered model in china too, thanks to the model y, but is no longer in objects in the mirror, closer than the appear scenario between byd. In tesla. It's just a fall on race at this point.

absolutely. I mean, tesla a delivered more all electric cars than b ideas. He mentioned four hundred and sixty three thousand.

2， byd, four hundred and forty three thousand. But that is not the full portfolio of cars that P Y D. has.

They sold six hundred and eighty six thousand plug in hybrids. And they also have these crazy hybrids that get insane ranged. Couple of them go more than two thousand kilometers due to some tech wiz that they produced over there.

So we know that E V sales are slumping and hybrids, hybrids have been really the winner of twenty, twenty three and twenty twenty four as people dip their toes into the electric market but don't want to go full battery. And byd has just been an absolute no perfect position uh, with a huge consumer market over in china to win that over. You are seeing just .

how biggest threat byd is in how volts wagon is doing. recently. I mean, we've talked about the fact that vote wagon is three plans to the first five minutes history, basically saying, like he, we cannot compete with the cars coming out of china right now.

So even though we are comparing byd to test a right now, the byd wave is sweeping up legacy automatic ers as well. The U. S.

Wants to stop that wave in its tracks, though they do not want these chinese evy makers info trading in the U. S. market.

And so there's been this proposal of a hundred percent tax are here IT is here a hundred percent from the united states in canada. In response, they're saying that there's this unfair state subsidiary of china's car industry right now. But right now, be idea slowly infiltrated.

You rope, they want to. Ninety percent of their sales are still domestically in. They do want to expand with the U. S. I think we do not want you coming over here because of just how but much of a threat IT is .

to legacy automobile U. S. And the E. U. I mean, the E. U.

This week on wednesday, slap terrify on imports of chinese, chinese evs on up to forty five percent. So they are trying to block chinese evs, not block. But that would be a hundred percent terrible, like what the U.

S. In canada are doing. But forty five percent means they definitely to sow the role because chinese cars make up twenty percent of all new car purchases.

And you're seeing what's happening to this work and they're closed. They aim to close three plants in germany for the first time ever. Overall though, I want to zoom out to other U.

S. Auto makers, before we go ford is feeling IT with this E V, slow down. Yesterday they said they would pause production of their electric f one fifty lightning truck until next year, january six.

And I remember two years ago when there was a brazilian long wait list for this lightning E V. Truck, and now they are pausing production because of sapping demand. So that just really tells you where .

the winds are blowing here up next after a wild week in the market. Let's see who are stuck. The week, dog, the week is. Imagine you wake up one day and a huge solar flare ads an extra hour to each day, or maybe your team will double in size overnight, or they'll be a global paper clip shorted. The truth is, no one knows what's around the corner.

Anything can change the world of work, and those changes can be due to factors that are internal.

external or global. From H, R, to payroll and benefits. A, D, P, design forward thinking solutions, take on the next anything that means businesses can prepare to tackle whatever transforms the world of work next.

because no matter how determined you are to rive constantly changing landscape, it's impossible to prepare for everything on your own. ATP. H, R, solutions help businesses of all sides managed recruiting on boarding payer and more, so you can stay focused on the future.

Learn more at A D P com. That's A D P dot com.

What does the growth of every business pretty much .

depend on besides great snacks in the breakroom?

It's gonna innovation exactly. And innovation relies on .

business processes that are clear and great. Most understand the importance nova teams Better with more than eight out of nine innovation projects experiencing stalls and inefficiencies.

Luckily, that's where mirrors innovation. Workplace comes in IT comes a loaded with A I enabled tools to help teams get from idea to output faster.

We're talking a text to diagram functions. A I enabled intelligence with gets two ways, syn tech in design capabilities, to name a few.

whether you work in innovation, product design, engineering, U I or IT, bring your teams to mirror revolutionary innovation workspace to be faster from idea to outcome. Go a miro dot com to find out how that's M I R O dot .

com IT is stock at the week dog, the week time where neon night bring you one stock who got all twick rec cuts and skittles while tracer treating, and one stock that only got dots, black liquor and Candy corn. Now you want the precious game of who can eat the most horrible gumy bears. So you are up first with a Tommy ache. What's our stock of the week?

My stock of the week is brinker international, which probably doesn't mean anything until I tell you it's the owner of the restaurant chain chilis brinker pop more than eight percent this week because chilies is kicking. But on wednesday, the chain reported a year over year sales increase of fifteen percent, while traffic jump s six percent last quarter.

And it's all the more impressive given that all of chillies rivals are either flat lining or going bankrupt. Traffic to U. S.

Restaurants was down by three point three percent this year, while visits to casual dining restaurants drop four point five percent. So what is children's doing, right? It's seems good enough food for affordable Prices. And that's been a winning formula for americans battered by high inflation.

One huge success story has been this, a big smash burger meal, which rivals the mcDonald big mac, cost just ten ninety nine and includes unlimited drink refills and bottom less chips with sala and french rise. That's been a significant traffic driver, the CEO said. Plus, you can't talk truly success without its comedic, relevant marketing. Its promotional team has tapped into pop culture trends and responded quickly when chile's dishes have gone viral on tiktok, which happened with its triple dip appetizer platter to be a rare restaurant.

W the restaurant industry is so odd, because what child is just name of burger. The bigs, though.

as I was saying, that was like this, a real thing.

But IT does speak to a wider, truly got to nail your social year 在 got these promotions， these special items. So the big smashed in, the triple deeper tracked those boxes. I mean, IT offered six thousand mark readers as well, which never heard.

So if you look at what the broader how the broader fast casual industry is doing right now, they are obsessed with trying to get Prices down because you just see bankrupcy everywhere you look. But chili is like you want a big smash er which again does provide great value. IT shows like it's part art, part science. Here, people do just have this great love for .

chili right now. They say that the big mature has twice the beef of a big max, so they're really hammer that value. McDonald has come under fire for increasing its Prices where it's very hard to distinguish to whether gonna get a Better deal at a fast food place like mcDonald, a casual chain like chilies.

But yeah, overall ads out to the restaurant industries, an american consumers now just look at those chains like their charges, bar and girl l from office space, just outdated, not relevant to the modern consumer, think has been able to book that trend and stay modern through these viral marketing techniques. But restaurant chains this year aren't trying to declare the most bankrupt decades outside of twenty twenty. We know we had big red lobster.

Hooters is also tearing T, G, I fridays just close fifty locations abruptly. So everywhere you look, restaurants are down. But Charles is a remarkable outlier. And i'm sure a lot of other restaurant, C E O, including the new reload or C E O is taking notes.

My dog of the week is a super micro o computer is not often that an auditor resignation letter makes headlines, but E, I did not hold back when they announce IT was stepping down as super micro accounting firm this week. Super micro is the buzz. A, I stuck that shot up to a fifty billion dollar cap and made its way into the S.

M. P. Five hundred by being a vender that sets up GPU clusters. Companies used to train their A, I models, but some cracks in its financial started to show through earlier this year, culminating this week when its audited E Y route that they are, quote, unwilling to be associated with the financial statements prepared by management, causing a nearly forty percent a wipe out in its stock Price. Well, there were warning signs along away this summer, its shares dropped twenty percent after a super micro said IT wouldn't file its annual report with the seon time. But having your auditor say, you know what, we can't take management at the word anymore and quit, that is more than a warning sign that is a big, older red flashing air sirion IT.

Hasn't we had the air siren earlier this year when hindon burg research was a short while? The report talking about some alleged accounting improprieties, this stock we have that about the stock IT was IT went ballistic over the last two years of more than two thousand and a percent way more than even in videos gains IT shows the NVIDIA center of gravity has taken a lot of socks with IT on that ride.

Because when you build data centers, you don't just need the NVIDIA GPU. You need the computers like super micro omics that how's the GPU 因 need cool in to cool off the heat。 So you have all these liquid cooling solutions going absolutely uh, ballistic as well.

But so I I don't know what do you want to call this a referendum on the A I bubble or seeing the A I bubble has that's probably not the case here. You might just be a, you know, problem confined to super micro that can really get its books together. Can't even hang onto an auditor for .

longer than a year. Yeah I do think that one the rise was powered by the fact that people are looking for names other than in video to invest in and like, oh, what is this company? Super micro computer? IT feels like IT was a diamond in the rough.

So I did go absolutely parables, but now it's going parabolic, the opposite direction. IT did just have a try factor of things like you had the hindi g show report. IT had that missed sec fining gate.

IT had a multiple accounting firms resign. So I do think that IT probably is a super micro problem. If so many people are looking at their books going like a listen, we don't know what's going on here.

We don't want any part of IT IT is funny that an auditor resignations letter is like going viral because you don't really hear auditors resigned. This noisy everyone called this just the noise resignation that they have seen. But E I does not want to be associated with this because they really just can't take management at the word with the reports that they are submitting.

Okay, let's spring to the finish with some final headlines. And I mean, spring because it's friday and the weekend is so close. Apple wrapped up a busy big tech earnings week with an atlanta kn type report just very mediocre.

Next to the release of the iphone sixteen, apple is rebounding from one of its longer sale slumps in history, but it's still struggling in the third largest market, china, where revenue declined. Apple also searching for its next big thing to drive growth, and IT doesn't seem like it's the vision pro. Overall, investors weren't too happy with what they heard from all the big tech firms this week, sending shares of companies like meta and microsoft lower.

yesterday. The tech focus nasdaq had its worst day in almost two months, and the S. M P closed out october with its first monthly loss since April.

Yeah, red october right there. I mean, tim cook did tried to paint a rosier picture. He said that iphone fifteen sales were stronger than fourteen years ago, and he says sixteen a stronger than fifteen.

He also said that users are adopting I O S eighteen point one, which introduce some of those apple intelligence features at twice the rate that they adopted seventeen point one. So he's looking for the bright spot here. IT doesn't like we are in a bit of a holding pattern until the full sweet of apple intelligence products roll out in december.

So one other not get in this apple earnings reports during the quarter, apple paid a one time income tax charge of ten point two billion dollars to resolve this big, long running tax case dating back to twenty sixteen over how the company or a hambling taxes in ireland. That is one big the here we are talking about the U. K. Doing like the largest financial fiscal event in history, raising forty or fifty two billion dollars in taxes. Apple paid one tax bill of ten billion dollars, so that was just .

one fat tax bill. Is open .

eye has debuted its a google iller IT unveiled search GPT yesterday. It's A I powered search engine that enables you to search real time information like apple stock Price or what neil in toby war for halloween yesterday. OpenAI is actually pretty late to the game when IT comes to real time internet access, which rivals like microsoft and google have offered for months. But sam, all min co. Are bursting into the space .

like the cool de man. If you didn't know IT, I mean, if you use ChatGPT, the free version, that web information stops at twenty twenty three, you are getting all the information, which was definitely a surprise to me. But you know, I think this is a real threat to google.

absolutely. First of all, there's no advertising when you search google right now. Without their AI overview, things that they are trying to roll out, you know you get five to six promoted sponsored links at the top and you have to sit through.

If you search on ChatGPT, you can have a conversation with that. You can follow up and there's no advertising. Maybe that speaks to a longer term of problem for OpenAI because need to make money.

So you might see advertising at some point soon, but for now, that seems like a bullet for search experience and they're gonna de. There has been a lot of tension between the A I companies and the publishers who do provide this information. Looks like OpenAI has signed a ton of deals with publishers and they are going to have a source tab if you want to see where that information is coming from.

Bt, for now, IT doesn't look like he tells you to eat rocks, which google did. And so that is a win for ChatGPT right there. A team of developers wants to build a mini monarchy in the united states, and they want to do IT.

In four lottery of florida, the team announced a massive two billion dollar development in the city north of miami, of forty acre site that will include a same region hotel, multiple condo towers, commercial space of beach club and of marine a that will have slips for yachts up to three hundred and fifty feet if you want to build a glitzy monico in the us, four louder deal seems like an excEllent choice. It's alty the yachting capital of the country. And this weekend is toasting the sixty fifth edition of the fort later dell international boat show, which organizers say is the biggest boat show ever put on topping with watch marathon go down to spot, seems like a lot.

Go the boat show. Moto o is kind of note as this tax haven for the riches and wealthy IT has no personal income tax, at thirty percent of its residents are million aire. So hearing the words four lotters dell and monocle in the same sentence is a little bit bizarre.

But you know, it's got this deep water marine does say that is a yachting capital of united states. So I guess give IT your best shot. My question is with just the herky seasoning that hold florida has gone through in the past few years, is that really smart to put two billion dollars towards a development on the water? I don't know.

Swing for the fences, I guess at this point, ryan tals and rob maclane are speed running the united kingdom dream, following up their purchase of the well soccer club rem, buying its bruy as well. Rexam loggers was found in all the way back when he was born in eight and eighty two, and claims to be the oldest british loggers bury still in existence. If they, even if they run the bruy anything like they've run the football club so far, it'll be taking on A B in that soon deal.

Everything they touch seems to turn IT to gold. And if there's anyone you want in the alcohol business is probably is ryan al. He had stake in aviation gin, which sold to the og o in twenty, twenty four, six hundred and ten million dollars.

Meanwhile, the socking team is doing really well. It's got back to back promotions in the consecutive years is now in the third league in the U. K.

Only two more promotions and IT gets to the premier league and the riches that come with IT. Remember, these guys bought this team for two point five million dollars, which is nothing to them. And now it's going, you know, supersonic.

And now they bought the bury, which are not sure how much money i'll make on the blue. But hey, i'd never heard of backs on blogger before this. And I dea.

they're currently in third place to in legal es. So literally they are on track for back to back to back promotions, which just seems like a fever dream at this point. But super palma and their striker seems to be primarily quality.

That is all the time we have. Thanks so much for spending party your morning with us. Have a wonderful friday and an even Better weekend for any questions, comments or feedback. Sending email to morning blue daily at morning blue dot com, or if you're extremely happy with everything here, to spread the word, tell everyone you know about morning for daily, so you can have smarter conversations with your friends and cover for your daily dose of sharing inspiration. We turned to toby.

I want you to share the pod with someone running the new york city marathon this weekend. I can't think of anything that would motives to run two miles faster, delivering the most important business news of the day. And yes, I know our shows are only about twenty five minutes long, so listen.

do IT at one ten speed and you'll be fine. D let's all the credits. Emily millions is our executive producer.

Raman luu is our producer. Olivia gram is our associate producer. A ogi is our technical director. Bill mino is an audio hair makeup is carver loading. David mory is our chief content officer and our shows the production of morning brew.

great. So today, new. I wish you all well.