August 26, 2020

Talk Money Weekly #006 | David Blaine Spent $150K Sky Diving ✈

Mesh Lakhani Headshot
Mesh Lakhani

Hey Everyone,

This is Issue #006 of the Talk Money Weekly. To get your mind moving on the topic of money every week, I’ll curate and share trending conversations around money, business, current events, and pop culture from Twitter, my favorite podcasts, and other platforms.

Two weeks ago, we launched our special BLM episode on our Talk Money Podcast - BLACK IN BUSINESS. We've had an incredible response. Some folks thought they were listening to an NPR production, which was very flattering!

📈Markets & Business:

Apple Is Now a $2 Trillion Company. Was It a Cheap Stock?  

Apple is now the most valuable company in the US, surpassing $2 trillion. It doubled its value in the last two years. When it comes to the stock price, a stock is considered "cheap" or "expensive" based on its forward P/E (price to earnings).

Simply put, a lower P/E means the market thinks the company won't grow as fast. A high P/E means that a company has lots of growth ahead, and that's why it's more expensive to buy. It will grow into its price. Apple has historically been cheap, given its size and market saturation. It's why Warren Buffet bought it. Read the comments and tell me what you think!

🏠 Real Estate:

Should I Rent or Buy? There's No Right Answer

I think this is actually a terrible take. Rent or buy is a relative question. Everyone's situation is different. My guess is that Sam Parr is coming from a place where he has multiple options for what he can do with his earnings. This is not the case for a lot of people.

At least with buying, you are forced to "own" (like Sheel says). With renting, it's also not as simple as saying, you're wasting money. There are always opportunity costs. Educating discussion to read.

Wait, What Kind of House Can I Buy Outside of San Francisco?!  

This is just fun to see what you can buy in different parts of the US. What does your dollar get your in smaller cities, but what are you giving up. Yes, we have a pandemic, but think 3-5 years ahead. What's important to you?

🙏 Culture:

The Truth About Native American Economies

Bad With Money: COVID's Economic Devastation on Tribal Lands

We ignore what Native Americans go through. It's sad, and that's why I wanted to highlight this podcast episode. At the 5 min mark, we learn that of the 5M Native Americans in the US, gaming wealth from casinos only come from 40% of tribes. 244 tribes have gaming or hospitality enterprises, and most of them are in rural areas. Lots to learn about the economies of tribal lands. A must listen.

How Much Do Kids Cost?

I don't have kids, but this tweet sparked something interesting conversations. How much do kids cost? It depends on the family and the situation. Fun to read through the comments.

🎬 Entertainment:

David Blaine is Flying into the Sky & YouTube is Paying for It

David Blaine on the Joe Rogan Experience

I've been watching David Blaine since I was in High School. I'm now 36. That's how long he's been around.

At 25 mins, he discusses his latest "trick." He's going to float into the sky (like really high up) with balloons. It takes a huge team and LOTS of money to plan this. YouTube is footing the bill. Blaine needed an expert skydiving license that he had to pay out of pocket for. 500 JUMPS! 500 X $300 (average jump price)= $150,000. The cost of entertainment.

That's all for this week! I hope you enjoyed the sixth issue of Talk Money Weekly. If you haven't already subscribed to my podcast, Talk Money, do so here. Make sure you listen to our latest episode "Black in Business". Stay tuned for our trailer for Season 3 which is going to be pretty amazing. More on that soon.

Want to chat? Tweet me at @meshlakhani. If this email was forwarded to you by a friend, subscribe here for updates!

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