Nvidia Is Betting on Its Customers. Gen Z Is Betting on Sports. Will It All End the Same Way?

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Gen Z is betting on sports. Nvidia is betting on its customers. But where does investing end and gambling begin? On the latest Click Beta, Cameron Dawson, Dave Nadig and Matt Zeigler explore that increasingly blurry line from sports betting inside brokerage apps to financial shenanigans occurring inside the AI boom. We have included this episode in the Excess Returns feed. But if you want to keep receiving new episodes, you can subscribe to Click Beta on all major podcast platforms using the links in this episode description. Thank you for listening. We hope you enjoy the show.

Matt Zeigler (1:20)

Those other podcasts, they're Click Beta, but this is Click Beta. Should market professionals have private conversations in public? Probably not, but if nothing except to prove that all we know is that we don't know nothing, we're going to do it anyway. Click Beta has three rules. We have one pre-agreed-upon topic we pick in advance, two, while we're live, nobody Googles nothing, and three, everybody brings a surprise topic to the table for which anything truly goes. Who's with me? He's the lightning rod roller coaster of the live-action Dollywood that is this show, not because he's made of wood or contains a 165-foot drop, but because he's made of good and probably could survive at least 165-inch hop off a wall while hiking in the woods. Dave Nadig, how are you doing?

Dave Nadig (2:00)

165, that's pretty tall. I think I'd definitely break an ankle.

Matt Zeigler (2:05)

Let me tell you, wooden roller coasters on the internet. I was looking at one up and was like, damn, all right, gotta go to Dollywood for that one. And she's probably been working nine to five, possibly in the work harder die trying girl sense, and I really hope I'm not the only Bob's Burgers aficionado here, but come on, tumble out of bed, stumble towards the kitchen, pour yourself a cup of ambition with us. Is she the ultimate combo of Dora Lee and Tess? Only one way to find out. It's Cameron Dawson.

A great pleasure to have you both here with me today, celebrating September Click Beta. This is our big topic. We've kind of done this before, probably 18 times, probably one and a half as it relates, but it keeps getting bigger. And it's this idea that everything is gambling. And when I mean everything, I mean ETFs, corporate strategy, financial planning. It seems like gambling is everywhere. I want to discuss this because this whole DGN evolution that is DGN sometimes, but not other times is freaking me out. Dave, can we start with you and just talk about?

Dave Nadig (3:07)

Yeah, I want to start with you because I think I suggested this mostly because I wanted to ask you two questions because obviously from my seat on the ETF side, I'm just watching all the filings of NHL. I wrote a thing on NHL ETFs and all that stuff. We don't need to beat that dead horse. Obviously, gambling risk is going to show up in financial markets and that I think has a set of issues I want to discuss. I was actually really thinking about this from the wealth management perspective, like folks actually working with wealthy families, which is kind of a lot of the wealth industry. I just know talking to a bunch of zoomers in my kids, friends groups in that age, that the sports betting thing, it's real. It has genuinely penetrated every level of Gen Z society in a way that I'm shocked by.

I'm just curious what y'all's thoughts are on when that becomes a financial planning problem. At what point do you have to start having conversations with your families about protecting assets from gambling addiction inside the family? Because if it hasn't been a big issue yet, it seems like it's gonna be.