Trump is in Beijing

And we’re going live on China Decode

It’s official: Donald Trump has landed in Beijing, flanked by a fleet of CEOs. This is the first visit to China by a sitting U.S. president in almost a decade. Trump and Xi are expected to discuss tariffs, Taiwan, AI, rare earths, and the Iran war.

Get caught up on the historic meeting. Earlier this week, the China Decode team broke down the real motivations behind the summit, and I was joined by The Bulwark’s Sarah Longwell on Raging Moderates to unpack the leverage we can expect from either side.

Tomorrow at 10 a.m. ET, China Decode co-hosts Alice Han and James Kynge are joined by Kevin Xu of Interconnected Capital for a live debrief on the high-stakes session. This livestream is open to all Prof G Media subscribers (China = it’s just that important).

Want to be the smartest person in the room on the new world order? Join us tomorrow.

The New Normal

You asked for more Ed Elson, and I’m a giver.

Next Wednesday, May 20 at 12:30 p.m. ET, Ed debuts an all-new keynote presentation exclusively for Prof G+ subscribers, only on Substack.

The New Normal identifies the most important – and least discussed – shifts resetting the global economy, from how loneliness is producing the next generation of billion-dollar businesses, to why a calcifying inheritocracy is rewriting the rules of economic mobility, to the erosion of “brand America” and the desperation driving the casino economy.

Beyond academic analysis, expect practical insight on how these tectonic forces should inform the worldview of the next generation of investors (emerging managers, take note). Don’t miss it.

The New IPO Economy

A $1,000 investment in Amazon when it went public in 1997 would be worth more than $3 million today. That kind of return used to be, in theory, available to anyone with a brokerage account.

That era is over. Now, by the time a company gets to its initial public offering, ordinary investors need to be asking themselves whether this is the last stop on the chump train.

What changed, and why? We break it down in this week’s Prof G+ Deep Dive.

Prof G Markets Tour

We still have a few tickets available for our Prof G Markets tour in Los Angeles, Miami, Chicago, and New York. Grab yours today.

By the way, our confirmed guest lineup includes Ted Sarandos (L.A.), Governor JB Pritzker (Chicago), and Anthony Scaramucci (NYC) … if I’m not enough for you.

See you in Beijing.

Life is so rich,

Scott