Episode 100

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Published on:

23rd Dec 2022

The Big One Hundro Episode

Cisco is the latest tech company to implement mass layoffs, specifically 4100 employees, nearly 5% of its workforce. These layoffs were anticipated, but which employees would be affected was unknown. Even though these tech layoffs are massive for the industry, they’re not representative of the job market at large. Instead, they’re symptomatic of the strange circumstances present in our current economy. At the same time, Cisco has been actively hiring for new roles. The company says this is part of a restructuring, and workers it cannot place internally will receive severance packages.

Today marks the 100th episode of The Higher Standard, and Chris and Saied are celebrating by doing what they do best - diving into this news and what it means for the tech sector as a whole in the coming year.


They discuss the ongoing drama at Twitter, as the social media platform tries to redefine its policies in light of the recent purchase by Elon Musk. The most recent policy shift involves an abrupt ban of all links to Instagram, Mastodon, and other competitors.


Chris and Saied look at the deterioration of affordability in housing across the US, which is happening at the fastest pace in history. The problem is that home prices are still rising while interest rates on mortgages are surging higher, which is highly unusual.


They also discuss an investigation by the DEA, which alleges that a methamphetamine and cocaine gang operating across the U.S., Mexico, Europe and Australia used the world’s biggest cryptocurrency exchange Binance to launder tens of millions in drug proceeds.


Join Chris and Saied for this fascinating and informative conversation and help them celebrate episode 100!


Enjoy!


What You’ll Learn in this Show:

  • The two primary methods for measuring housing prices: Month over month and year over year.
  • Why US agencies are now moving to track illegal use of cryptocurrency.
  • Why the ideology of free speech has become very murky in recent years.
  • Why Chris believes there will be a significant amount of layoffs in Q1 across many sectors.
  • And so much more...


Resources:

"Morgan Stanley warns that housing affordability is deteriorating faster than at any point in its data history — here are 2 easy ways to buck the worrisome trend" (article from Moneywise)

"Are housing prices going up or down?" (TheDataDeli via Instagram)

"Tech Layoffs: Cisco Announces Mass Layoffs - 4,100 Employees Cut" (article from Forbes)

"Twitter abruptly bans all links to Instagram, Mastodon, and other competitors" (article from The Verge)

"International drug conspiracy used Binance to launder millions, DEA investigation finds" (Forbes via Instagram)

"Goldman Sachs is planning to cut up to 8% of its employees in January" (article from CNBC)

"Homebuilder sentiment drops for the 12th straight month, but a bottom may be near" (article from CNBC)

"Roughly 1 in 3 workers is worried about a layoff — here’s where anxiety is highest" (article from CNBC)

"Twitter Reverses Ban to Accounts That Boost Competitors" (article from TheStreet)

"Washington Post chief announces job cuts – and refuses to answer questions" (article from the Guardian)

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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.