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Zuckerberg Plans to Cut Metaverse Group's Budget Up to 30% Dec 05, 2025

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Watch Bloomberg Businessweek Daily LIVE every day on YouTube: http://bit.ly/3vTiACF.

Meta Platforms Inc.’s Mark Zuckerberg is expected to meaningfully cut resources for building the so-called metaverse, an effort that he once framed as the future of the company and the reason for changing its name from Facebook Inc.

Executives are considering potential budget cuts as high as 30% for the metaverse group next year, which includes the virtual worlds product Meta Horizon Worlds and its Quest virtual reality unit, according to people familiar with the talks, who asked not to be named while discussing private company plans. Cuts that high would most likely include layoffs as early as January, according to the people, though a final decision has not yet been made.

Savings from the metaverse cuts are expected to funnel toward other futuristic projects within Meta’s Reality Labs division, including AI glasses and other wearables, according to people familiar with the plans.

The proposed metaverse cuts are part of the company’s annual budget planning for 2026, which included a series of meetings at Zuckerberg’s compound in Hawaii last month, the people said. Zuckerberg has asked Meta executives to look for 10% cuts across the board, which has been the standard request during similar budget cycles the past few years, they added.

Today's show features:

Gene Munster, Co-Founder and Managing Partner of Deepwater Asset Management, on the latest talent departure from Apple to Meta, and the AI arms race
Bloomberg News Senior Technology Reporter Kurt Wagner on Meta CEO Mark Zuckerberg’s plan to cut resources for building the metaverse
Jimmy Lee, CEO, The Wealth Consulting Group, on the market outlook heading into 2026
Bloomberg News Consumer Reporter Jeanette Neumann on quarterly earnings from Ulta Beauty

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CraftCo. CEO on the Alcohol Business Outlook Dec 04, 2025

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Holland, Michigan-based CraftCo. Brands has a diverse portfolio of craft spirits comprised of more than 30 spirits and liqueurs across the bourbon, gin, vodka, rye, and ready-to-drink categories. However, Bloomberg Intelligence notes that the use of weight-loss drugs stand to deepen alcohol's demand slump in the US and Europe, as moderation and wellness trends gain ground.
Ali Anderson, the CEO of CraftCo., discusses the outlook for the spirits industry for 2026 and beyond, as well as changing consumer habits when it comes to consumption levels. Ali speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

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Payrolls at US Companies Fall by Most Since 2023, ADP Says Dec 03, 2025

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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
US companies shed payrolls in November by the most since early 2023, adding to concerns about a more pronounced weakening in the labor market.
Private-sector payrolls decreased by 32,000, according to ADP Research data released Wednesday. Payrolls have now fallen four times in the last six months. The median estimate in a Bloomberg survey of economists called for a 10,000 gain.
Wednesday’s weak ADP report risks heightening concerns of a more rapid deterioration in the labor market ahead of the Federal Reserve’s final policy meeting of the year next week. It could hold more sway than usual as one of the few up-to-date reports officials will have by then, as the shutdown delayed the government’s November jobs report.
Policymakers have been torn as to whether they’ll cut interest rates for a third straight meeting as they attempt to balance the slowdown in the job market with still-elevated inflation. Investors, however, widely expect the Fed to lower borrowing costs next week.
Today's show features:

Bloomberg Economics US and Canada Economist Stuart Paul on the latest ADP jobs data and near-term expectations for Federal Reserve leadership and policy, and Bloomberg News Consumer Team Leader Emily Cohn on earnings from Macy’s and Dollar Tree, as well as the health of the US consumer
Scott Sanborn, Chief Executive Officer of LendingClub, and Bloomberg Intelligence Senior Analyst for US Regional Banks Herman Chan, on the company’s expansion into home improvement financing and the outlook for US monetary policy
Amy Rubenstein, CEO of Clear Investment Group, on the distressed real estate market

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Family Offices Look to Next Generation of Investors Dec 03, 2025

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New research from Bank of America Private Bank offers a rare look at how the world’s wealthiest families are preparing for a major generational handover, as nearly 60% expect a leadership transition within the next decade, and how next-gen leaders are reshaping investing, philanthropy, and innovation. The Bank of America Family Office Study captures over 300 family office leaders’ perspectives into how their organizations are navigating complexity and preparing for this seismic change.
Elizabeth Thiessen is a Managing Director and the Head of Family Office Solutions with Bank of America Private Bank. She breaks down the figures with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

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Crypto Firm Tied to Trumps Sees Shares Sink as Lockup Ends Dec 02, 2025

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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
American Bitcoin Corp. stock plunged on Tuesday after restricted shares of the crypto miner co-founded by Eric Trump were freed up to be traded. The selloff was swift. Shares lost more than half of their value in less than 30 minutes as the equity lockup expired, triggering repeated trading halts. The stock pared declines later in the trading session.
Shares from a private placement that took place before American Bitcoin merged with Gryphon Digital Mining Inc. became available on Tuesday, according to the crypto miner and a post on the social media platform X by Trump.
“We expect near term volatility as those shares come to market and as some investors take the opportunity to realize gains,” Matt Prusak, president of American Bitcoin, said in a statement.
Crypto firms have often seen large declines after the end of share lockup periods or announcing private investment in public equity filings, as their largely retail investor base takes it as a signal to sell. Retail traders often fear that those early investors will want to lock in their gains and unload shares.
Today's show features:

Bloomberg News Equities Reporter Monique Mulima on the crypto market and the pullback in shares of Eric Trump’s American Bitcoin Corp.
Alan Zafran, Co-Founder and Managing Partner of IEQ Capital on the credit market outlook and AI bubble concerns
Bloomberg News Wealth Reporter Biz Carson on Michael Dell’s $6.25 billion donation to help fund ‘Trump Accounts’ for American children
Louise Phillips Forbes, Real Estate Broker for Brown Harris Stevens, on the outlook for New York City real estate under Mayor-elect Zohran Mamdani

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Zscaler CEO Jay Chaudhry on Battling Global Cyber Threats Dec 02, 2025

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Cybersecurity giant Zscaler is a pioneer and global leader in zero trust security. Many of the world’s largest businesses, critical infrastructure organizations, and government agencies rely on Zscaler to secure users, branches, applications, data & devices, and to accelerate digital transformation initiatives.
The company says its "Zero Trust Exchange" platform is distributed across 160+ data centers globally, and combines with advanced AI to help combat billions of cyber threats and policy violations every day
Jay Chaudhry, Zscaler's Founder, Chairman and CEO, discusses his firm's most recent earnings as well as the landscape for cybersecurity as a service.
Jay speaks with Carol Massar, Tim Stenovec, and Mandeep Singh, the Global Head of Technology Research for Bloomberg Intelligence, on Bloomberg Businessweek Daily.

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Stock Rally Takes a Break as Crypto World Gets Hit Dec 01, 2025

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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

The start of a historically strong month on Wall Street saw stocks falling as traders shunned riskier corners of the market amid a selloff in cryptocurrencies. A rout in Japanese debt rippled through global bonds.

Caution prevailed after a rally that drove the S&P 500 to its longest streak of monthly gains since 2021. The Russell 2000 gauge of small caps slid over 1%. Nearly $1 billion of leveraged crypto positions were liquidated during a sharp drop in prices that brought fresh momentum to a wide-ranging industry plunge. Bitcoin sank to around $85,000.

Despite the reduced appetite for risk, Treasuries kicked off the week on the back foot as Japan’s bond yields climbed after comments from the central bank chief spurred rate-hike wagers.
Equities lost steam after investors wrapped up a choppy November with gains amid growing speculation that the Federal Reserve is more likely than not to ease policy this month.

Today's show features:

Doug Ciocca, CEO of Kavar Capital, on markets, the economy and investment strategies to close out 2025
Bloomberg Tech Co-Host Ed Ludlow on Nvidia’s $2 billion investment into chip-design software maker Synopsis
Christina Lee, Managing Director and Co-Portfolio Manager for US Private Debt Strategy at Oaktree Capital Management on the health of the US credit market
Dana Telsey, Founder, CEO and Chief Research Officer of Telsey Advisory Group, recaps Black Friday and breaks down key retail spending trends for Cyber Monday

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Black Friday Special Nov 28, 2025

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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
On this special edition of the show following Thanksgiving, Carol Massar and Vonnie Quinn discuss the day's trade, the state of the consumer and more.
Today's show features:

Dan O'Connell, CEO of Front
Natalie Kotlyar Managing Principal & National Retail Consumer Products Industry Leader at Bdo
Clint Henderson, Managing Editor at The Points Guy
Norah Mulinda, Bloomberg TV markets correspondent on the day's trade

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Bloomberg Businessweek Weekend - November 28th, 2025 Nov 28, 2025

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Featuring some of our favorite conversations of the week from our daily radio show "Bloomberg Businessweek Daily."
Hosted by Carol Massar and Tim Stenovec
Hear the show live at 2PM ET on WBBR 1130 AM New York, Bloomberg 92.9 FM Boston, WDCH 99.1 FM in Washington D.C. Metro, Sirius/XM channel 121, on the Bloomberg Business App, Radio.com, the iHeartRadio app and at Bloomberg.com/audio.
You can also watch Bloomberg Businessweek on YouTube - just search for Bloomberg Global News.
Like us at Bloomberg Radio on Facebook and follow us on Twitter @carolmassar @timsteno and @BW

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ACI Worldwide Raises Guidance, Commits to Digital Assets Nov 28, 2025

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ACI Worldwide, an innovator in global payments technology, delivers software solutions that power intelligent payments orchestration in real time so banks, billers, and merchants can drive growth, while continuously modernizing their payment infrastructures, simply and securely. In addition to reporting strong third-quarter and year-to-date results, and raising its full-year 2025 outlook as it reported earnings, the company also recently entered into a strategic partnership with BitPay, the world’s leading cryptocurrency payments processor.
Robert "Bobby" Leibrock joined ACI as its CFO effective July 1. He breaks down the firm's expansive customer base and details its renewed commitment to digital assets with Carol Massar, Tim Stenovec and Bloomberg News Senior Editor on Bloomberg Businessweek Daily.

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