Prof G Markets: Margin Calls, Private Jets, Meta Teams Up With Microsoft, and Unpacking the Fed

Market Growth

The private aviation market is experiencing unprecedented growth, expanding beyond just the super-rich to include the wealthy and corporate clients. Scott Galloway highlights how the pandemic initially caused a dip, but the market quickly rebounded as people sought safer travel options and corporations increased spending on private jets 1. Companies like Meta and Lockheed Martin are investing heavily in private aviation, with Meta spending $1.6 million on private jets for Mark Zuckerberg alone 1. This surge in demand has led to a crowded market with numerous competitors like Wheels Up and NetJets, and new entrants considering private flying 1.

   

Personal Journey

Scott shares his personal journey of owning a private jet, driven by a lifelong fascination with aviation and the desire to save time. He explains that owning a plane allowed him to spend more time with family, equating the cost to a time machine that provided 130 extra days at home over ten years 2. However, after moving to London, he found the plane impractical for European travel and was concerned about its environmental impact. Ultimately, he sold it when he received an unsolicited offer that was too good to refuse, acknowledging the rarity of a plane appreciating in value 2.