In this episode, Scott Becker shares updates on NVIDIA’s market dip amid U.S.–China trade tensions, the promise of renewed trade talks, and more.
Chapter 1: What is causing NVIDIA's stock to drop?
This is Scott Becker with the Becker Private Equity and Business Podcast. These are five of the stories that we're following today. And thank you for listening to the podcast. First, the big news today is NVIDIA is down about 6.6% right now. And this is based on potential export restrictions to China. NVIDIA has got itself sort of right in the middle of this trade war.
Chapter 2: Who is Jensen Wang and how is he leading NVIDIA?
Jensen Wang's one of the most amazing CEOs of our time. He's been leading that company for 30 years. He's outlasted all the other great CEOs. It's amazing what he's done. He'll navigate through this as well. He's really an amazing, amazing leader. Second, China and the United States look like they are circling towards talks.
Chapter 3: What is the current status of U.S.–China trade talks?
They're all trying to show a little bit of ego in how they do it, but really fascinating to watch. But sort of moving towards trade talks, it is a whirlwind rollercoaster to watch how President Trump negotiates with everybody. You know, it's head spinning, and it is what it is. Third, third.
Chapter 4: Who is Murphy Jensen and what is his story?
It was great yesterday to talk to tennis great Murphy Jensen, and not everybody knows Murphy Jensen, but he and his brother Luke won the French Open a long time ago, the doubles championship of the French Open. Growing up in the Midwest, where I grew up, Luke and Murphy Jensen were heroic figures in terms of the tennis scene, just great athletes, great tennis players.
Chapter 5: How is Murphy Jensen addressing his personal challenges through entrepreneurship?
Murphy has a story where he then ended up with substance abuse, stress, other kinds of issues. More recently started a company called We Connect with Danielle Tudor and Cameron Chell. And we had the two of them on the Becker's Healthcare and Becker Private Equity podcast yesterday. Really inspired to talk to them. And again, Luke and Murphy, heroic players in our area.
Chapter 6: What progress has been made on personal health and discipline recently?
So just real, real fun to talk to them. Fourth, on the scales and portfolio side, I finally had some discipline around the weight for a few days. I'm not so scared to go on the scale. It's in the portfolio after a couple really bad weeks, a couple weeks ago. It's been up this week. Still not looking at it that much, but at least moving in the right direction.
Chapter 7: What is the advice about choosing your closest friends for success?
Finally, fifth, and I'll give you a PS today, too. We talk about this often. There's all this business of personal advice about picking the five people you hang out with the most. And a lot of it goes like this. Pick your five closest friends, but it's not successful or something they are because you'll gravitate to be a lot like them.
And I've watched this advice given in a million different contexts. And I got to tell you, we've talked about this regularly. I just hate this advice. it leads to an amount of social climbing and social optimization that to me is so distasteful. And so my perspective is, assuming your best friends aren't convicts, and I don't mean this as offense to convicts,
Pick your closest friends based on who you love being with and who fills your bucket. Who leaves you feeling positive and upbeat, not stressed? Who can you just be yourself with? It's almost like going to golf. I want to golf with people I just enjoy being with versus people trying to make it so competitive or so insane. That's probably because I'm not that great a golfer. But pick people.
based on who you like to be with, who are reliable, great friends, who reciprocates with you, who you could count on, reciprocates that they have an interest in you as well as you in them. Don't pick them based on their net worth, their position in life, their handicap, or any other dumb concept. Do you fill each other's buckets? Do you enjoy each other?
That's how you pick your friends and who you want to hang with, not on who's going to make you the most successful. A couple of the quick notes.
we did a great discussion yesterday on twitter versus reality if you read twitter you think that everybody has to be an entrepreneur or you're a loser at the end of the day our country is driven and works because there are 90 of the people that do their jobs that have jobs that do a fantastic jobs with them and thank god for them and then there's x percent that are entrepreneurs and thank god for them too but this idea that one is good one is bad is so misguided and so dumb i can't even stand it anymore
Finally, the last concept, and it comes really out of two recent scenarios. Don't start a project, and I won't scold the people who got us into this situation, but don't start any project without getting an estimate of what it's going to cost. Most people are going to treat you fairly.
A few people, you're going to be shocked, like that shock and awe when you get the bill, and you're trying to avoid that. That's what you're trying to avoid, shock and awe and billing. So get an estimate before you start, and then expect your professionals, whoever you work with, whether it's a painter, a lawyer, an accountant, whoever it is, to stick with that.
And on the flip side, there's a few people I work with that are always so darn fair. I love working with them time and time again. So God bless those people. Thank you very much for listening to the Becker Private Equity and Business Podcast. We hope you have a fantastic day. Thank you very, very much.
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