Prof G Markets Two Months In: Why Markets Stopped Caring About Iran
303 snips
Apr 27, 2026 Markets tune out the Iran war as tech earnings, AI exposure, and investor desensitization take center stage. There’s also a sharp debate over what makes a truly great CEO after Tim Cook’s move to step down. Plus, a skeptical look at SpaceX buying Cursor and the fuzzy math behind giant AI valuations.
AI Snips
Chapters
Transcript
Episode notes
Why Markets Shrugged Off The Iran War
- Markets rallied despite higher oil because investors care more about tech earnings than Middle East escalation.
- Scott Galloway argues the S&P is now dominated by services and AI-linked firms that barely depend on the Strait of Hormuz.
Iran May Not Matter To Stocks But Still Matters
- Ed Elson says investors may be right that Iran barely matters to earnings, but wrong if they think the conflict is actually improving.
- Gas prices are up 35% in America, consumer sentiment hit records lows, and the real damage may show up in later quarters.
AI Exposure Now Beats Oil Exposure
- Scott Galloway says market winners now combine AI exposure with energy advantage, and AI proximity beats oil dependence.
- Taiwan and Israel rallied despite importing oil, while the U.S. also benefits because higher oil prices shift profits to domestic producers.