Episode 106

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Published on:

13th Jan 2023

Job Growth is Changing, Used Car Prices are Dropping and the Best Review Ever

Technology-driven companies across industries have been laying off workers at the fastest pace since the Covid-19 pandemic shocked the global economy in 2020. Employers in the tech sector cut more than 150,000 jobs in 2022, based on estimates from Layoffs.fyi.

That figure compares with about 80,000 layoffs in March-December 2020 and 15,000 in all of 2021.

In this episode of The Higher Standard, Chris and Saied examine this latest news and offer some insights as to the effects it will have on the economy as a whole.


They discuss the concept of the 'everything bubble,' and the reasons why many economists believe that years of loose monetary policies from the Fed and other central banks following the Great Financial Crisis (GFC) helped create it.


Chris and Saied look at a report stating that used car prices paid by wholesalers fell the most on a yearly basis since at least the late 1990s - a decline that could help the fight against inflation.


They also offer some thoughts on a leaked email from Disney CEO Bob Iger, telling hybrid employees they must return to corporate offices four days a week starting March 1.


Join Chris and Saied for this fascinating and informative conversation.


Enjoy!


What You’ll Learn in this Show:

  • The 'everything bubble:' What it is, where it came from, and why it's now popping.
  • Why social media is no longer 'social' - it’s an online business.
  • The bright spots that exist in the economy during the recession.
  • The difference between low-cost index funds and mutual funds.
  • And so much more...


Resources:

"U.S. labor market powers ahead, but wage growth loses steam" (article from Reuters)

"Tech layoffs are happening faster than at any time during the pandemic" (The Wall Street Journal via Instagram)

"Tech Layoffs Are Happening Faster Than at Any Time During the Pandemic" (article from The Wall Street Journal)

"The ‘everything bubble’ has popped and the experts on Wall Street and in Silicon Valley were spectacularly wrong about a ton of things" (article from Fortune)

"Used car prices post biggest drop on record - and have 'much further to fall’” (Forbes via Instagram)

"Meta updates property listing policy, riling agents" (The Real Deal via Instagram)

"Bob Iger tells Disney employees they must return to the office four days a week" (article from CNBC)

"Party City prepares to file for bankruptcy" (The Real Deal via Instagram)

"Job openings hold strong despite rate hikes; manufacturing in contraction" (article from CNBC)

"2022 was the worst-ever year for U.S. bonds. How to position your portfolio for 2023" (article from CNBC)




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About the Podcast

The Higher Standard
This isn’t a different standard, it’s the higher standard.
Welcome to the Higher Standard Podcast, where we give you ultra-premium, unfiltered truth when it comes to building your wealth and curating the lifestyle of your dreams. Your hosts; Chris Naghibi and Saied Omar here to help you distill the immense amount of information and disinformation out there on the interwebs and give you the opportunity to choose a higher standard for yourself. Sit back, relax your mind and get ready for a different kind of podcast where we elevate your baseline with crispy high-resolution audio. This isn't a different standard. It's the higher standard.

About your host

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Christopher Naghibi

Christopher M. Naghibi is the host and founder of The Higher Standard podcast — a rapidly growing media platform delivering unfiltered financial literacy, real-world entrepreneurship lessons and economic commentary for the modern era.

After nearly two decades in banking, including his most recent role as Executive Vice President and Chief Operating Officer of First Foundation Bank (NYSE: FFWM), Christopher stepped away from corporate life to build a brand rooted in truth, transparency, and modern money insights. While at First Foundation, he had executive oversight of credit, product development, depository services, retail banking, loan servicing, and commercial operations. His leadership helped scale the bank’s presence in multiple national markets from $0 to over $13 billion.

Christopher is a licensed attorney, real estate broker, and general building contractor (Class B), and he brings a rare blend of legal, operational and real estate expertise to everything he does. His early career spanned diverse lending platforms, including multifamily, commercial, private banking, and middle market lending — holding key roles at Impac Commercial Capital Corporation, U.S. Financial Services & Residential Realty, and First Fidelity Funding.

In addition to his media work, Christopher is the CEO of Black Crown Inc. and Black Crown Law APC, which oversee his private holdings and legal affairs.

He holds a Juris Doctorate from Trinity Law School, an MBA from American Heritage University, and two bachelor degrees. He is also a graduate of the Yale School of Management’s Global Executive Leadership Program.

A published author and sought-after speaker (unless it’s his son’s birthday), Christopher continues to advocate for financial empowerment. He’s worked pro bono with families in need, helped craft affordable housing programs through Habitat for Humanity, and was a founding board member of She Built This City — helping spark interest in construction and trades for women of all ages.