Episode 113

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Published on:

7th Feb 2023

The Fed Bumps, Job Openings Surge, ChatGPT and Seattle

Real estate brokers across the country are using ChatGPT to pen emails and write property listings. The AI chatbot ChatGPT has made waves in sectors from tech to media since it launched to the public two months ago. As the AI software grows in popularity, people are finding more and more creative ways to put the tech to use — including making it write flowery descriptions for real estate listings. As the technology emerges as a tool for realtors, some experts say AI is well on its way to becoming an industry standard. Use of AI has spread far and wide among realtors. Miami broker Andres Asion has even used the tech to rewrite emails, emphasizing legal liabilities and implications.

In this episode of The Higher Standard, Chris and Saied examine the explosion of AI and its use by business - not to mention its darker uses, such as creating fake social media accounts.


They discuss the news that major U.S. stock indexes closed over 1% higher as labor cost data encouraged investors about the Federal Reserve's aggressive approach to taming inflation a day ahead of the central bank's critical policy decision.


Chris and Saied look at a report stating that Blackstone, one of the country's biggest landlords, is ramping up evictions to help its struggling real estate investment trust.


They also offer some thoughts on news from payroll processing firm ADP, which is reporting that job creation in the private sector plunged in January as weather-related issues kept workers home. Companies added just 106,000 new workers for the month, down from an upwardly revised 253,000 the month before.


Join Chris and Saied for this fascinating and informative conversation.


Enjoy!


What You’ll Learn in this Show:

  • The biggest winners and losers from the Fed's latest interest rate hike.
  • How long it takes for recessionary effects (aka lagging indicators) to show up.
  • Why (and how) people are using AI to create fake social media accounts.
  • Mark Zuckerberg's record $12.5 billion day.
  • And so much more...


Resources:

"More Americans are falling behind on car payments than during the 2008 financial crisis" (Bloomberg via Instagram)

"California DMV is now on the blockchain. Why that’s a bigger deal than you think" (article from Fortune)

St. Louis Fed Economic Data

"Biggest winners and losers from the Fed’s interest rate hike" (article from Yahoo! Finance)

"Wall St gains over 1% after encouraging inflation data with Fed next" (article from Yahoo! Finance)

"S&P 500 advances more than 1% to its best level in five months as Meta leads tech-fueled rally" (article from CNBC)

"US Job Openings Surge Past 11 Million as Fed Zeros In on Labor" (article from Bloomberg)

"Private payroll growth slowed to 106,000 in January as weather hit hiring, ADP says" (article from CNBC)

"That real estate listing you just saw for your dream house may have been written by ChatGPT" (article from Business Insider)

"Blackstone ramps up tenant evictions" (TheRealDeal via Instagram)

"Zuckerberg Gains Record $12.5 Billion in a Day as Meta Rebounds" (article from Bloomberg)



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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.