AppleTV+ is Losing $1B/Yr & Boeing Banks Big Defense Deal

Key takeaways

Apple TV+ continues to struggle financially, losing over $1 billion annually with its subscriber base significantly lagging behind competitors.
The notion of a recession is being humorously backed by internet memes and cultural indicators, even when hard economic data suggests otherwise.
Boeing has landed a crucial distinction in a major defense contract, although ongoing doubts about the future of manned aircraft linger.
The recent upswing in IPO registrations could signal a recovery in the market after years of hesitance due to economic conditions.
George Foreman leaves behind a multifaceted legacy that spans both sports and innovative consumer products.

Summary

The Streaming Struggle: Apple TV+ Losing Billions

The episode highlights Apple's ongoing challenge with its streaming service, Apple TV+, which is reported to be losing over $1 billion annually. With only 45 million subscribers, far fewer than competitors like Netflix and Disney+, the question arises why Apple continues to invest heavily in this area without a clear profit model. Key industry figures, such as Netflix's co-CEO, express disbelief about Apple's strategy, suggesting it could be a marketing play rather than a sustainable business model.

Cultural Data Points: The Internet's Take on Recession

A quirky investigation into the hashtag #RecessionIndicator reveals that cultural trends, such as Lady Gaga's album and unusual behavioral data, are leading many to believe a recession is looming. While economists caution against purely 'soft data' interpretations, there’s an interesting dialogue around how societal attitudes and cultural consumption can provide insight into economic health.

Boeing's Big Defense Win Amid Industry Scrutiny

Boeing scored a substantial win by securing a contract to produce the F-47 fighter jet, amidst a backdrop of scrutiny over the effectiveness of traditional manned aircraft as military strategies evolve. While Boeing’s recent performance has been shaky, this contract, touted at $20 billion, could provide much-needed momentum for the company as they navigate past issues of safety and confidence.

The IPO Market: Glimmers of Life

After a sluggish period, signs of recovery in the IPO market are highlighted with multiple significant companies filing for IPOs, including Clarina and CoreWeave. Experts express cautious optimism that this could indicate a thawing in the market, particularly as risk appetite slowly returns.

Tributes to George Foreman: Boxing Legend and Grill Icon

The death of George Foreman is discussed, noting his remarkable legacy in both boxing and consumer product marketing. Known for the iconic George Foreman Grill, he transformed from a champion boxer to a household name, leaving a lasting impact on American culture.

Show notes

Episode 545: Neal and Toby dive into the latest trend of #RecessionIndicator and whether the US is actually in a recession or not. Then, Apple TV+ is reportedly losing at least $1 billion a year. Also, boxing legend and entrepreneur George Foreman dies at 76, and a look at his successful careers. Meanwhile, Boeing beats out Lockheed Martin to build the next generation of fighter jets. Plus, more companies are filing for IPO which may show signs the IPO market is finally thawing after a couple of slow years. Lastly, a look at what’s coming up in the week ahead.

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