Stay ConnectedThe most important stories about money, business and power. Hosted by Kate Linebaugh and Ryan Knutson, with Jessica Mendoza. The Journal is a co-production of Spotify and The Wall Street Journal.
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Nikki Haley, former U.N. ambassador and governor of South Carolina, has been gaining traction in the 2024 Republican presidential primary. But can she catch up to the front-runner, former President Donald Trump? WSJ’s Molly Ball breaks down Haley’s growing momentum.
Further Reading:
-Debate Performances Fuel Haley’s Rise in GOP Nomination Race
-Nikki Haley’s Challenge: Keep Anti-Trump GOP Vote, Add Some Trump Backers
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Meta has spent months trying to fix child-safety problems on Instagram and Facebook. But as WSJ's Jeff Horwitz explains, the social media giant is still struggling to prevent its own systems from enabling and promoting a vast network of pedophile accounts.
Further Reading:
- Meta Is Struggling to Boot Pedophiles Off Facebook and Instagram
- Instagram’s Algorithm Delivers Toxic Video Mix to Adults Who Follow Children
- Instagram Connects Vast Pedophile Network
Further Listening:
- He Thought Instagram Was Safe. Then His Daughter Got an Account.
- The Facebook Files, Part 1: The Whitelist
- The Facebook Files, Part 2: 'We Make Body Image Issues Worse'
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Apple has filed for divorce from its partnership with Goldman Sachs.. It also marks a swift about-face for a partnership that, just last year, was extended through 2029. WSJ’s AnnaMaria Andriotis discusses the messy details she’s learned about the breakup.
Further Reading and Watching:
- A Divorce With Apple, Internal Strife: How Goldman’s Main Street Bet Failed
- Apple Pulls Plug on Goldman Credit-Card Partnership
- How Goldman Sachs Fumbled Its Consumer Business
Further Listening:
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The Supreme Court is weighing an $8-billion settlement between opioid victims, Purdue Pharma and the Sackler family. Two claimants explain their views on the deal and WSJ’s Alexander Gladstone reports.
Further Reading:
-The Opioid Victims Who Won’t Sign Off on Purdue’s $6 Billion Settlement
-Supreme Court Weighs Purdue Pharma’s $6 Billion Opioid Settlement
Further Listening:
-How a Drug Maker Plans to Cut Off Money for Opioid Victims
-Purdue’s $4.5 Billion Opioid Settlement Got Thrown Out. Now What?
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For months, state and federal law-enforcement officials have been investigating a Medicaid scam in which hundreds of fraudulent sober-living homes in the Phoenix area have recruited Native Americans from across the West. Raquel Moody shares her experience in what she believes were fraudulent sober homes, and WSJ's Dan Frosch unpacks how the scam worked.
Further Reading:
- Fraudulent Sober Homes Exploited Native Americans, Say Authorities
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In 2015, a group of Silicon Valley heavy-hitters met for a dinner that would change tech history. They believed that the time had come to build a super-intelligent AI, and they founded a non-profit lab to try to do it. In part 1 of our series, Artificial: The OpenAI Story, we explore the company’s idealistic origins and speak with early employees about the struggle to make their AI dream a reality.
Further Reading:
- Elon Musk Tries to Direct AI—Again
- The Contradictions of Sam Altman, AI Crusader
Further Listening:
- The Hidden Workforce That Helped Filter Violence and Abuse Out of ChatGPT
- OpenAI’s Weekend of Absolute Chaos
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Billionaire investor Charlie Munger died Tuesday, just weeks short of his 100th birthday. Munger was vice-chairman of Berkshire Hathaway, and he was best known for his close partnership with CEO Warren Buffett. As WSJ’s Jason Zweig explains, Munger often played Buffett’s sidekick, but his investing expertise made him a celebrity in his own right.
Further Reading:
- Charlie Munger’s Life Was About Way More Than Money
- The Secrets to Charlie Munger’s Success
- Charlie Munger, Warren Buffett’s Partner and ‘Abominable No-Man,’ Dies at 99
Journal Swag:
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Dubai, a city known for private jets, giant yachts and other symbols of carbon-heavy living, is an awkward location for a conference on climate change. The man organizing the COP28 summit also runs the country’s national oil company. WSJ’s Ed Ballard digs into the contradictions at the heart of this month’s climate summit and why they may not be that unusual.
Further Reading:
- Welcome to COP28, the U.N. Climate Conference Hosted by an Oil Giant
- What’s at Stake at COP28 in Dubai
Further Listening:
- The Fight Over Climate Change's Price Tag
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A Journal investigation reveals a years-long culture of sexual harassment and intimidation at the Federal Deposit Insurance Corporation, a government agency that regulates banks. WSJ's Rebecca Ballhaus on the allegations and how some of the problems went all the way to the top.
Further Reading:
- Strip Clubs, Lewd Photos and a Boozy Hotel: The Toxic Atmosphere at Bank Regulator FDIC
- FDIC Chair, Known for Temper, Ignored Bad Behavior in Workplace
Further Listening:
- Can the Government Contain a Banking Crisis?
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OpenAI was founded in 2015 as an idealistic nonprofit. Its goal was to build artificial general intelligence or AGI — an AI that could do most jobs better than a human could.
In the years that followed, OpenAI’s pursuit of AGI led them to develop the viral chatbot ChatGPT. The company became one of the top AI labs in the world.
But to get there, OpenAI’s leaders would compromise nearly every one of their founding ideals. Over four episodes, we explore how a little-known startup built one of the world’s most viral tech products … and nearly tore itself apart in the process.
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Shares of Estée Lauder, the beauty giant, have plunged about 50% this year. And the members of the Lauder family are at odds about what to do. WSJ's Emily Glazer reports on the company's business mistakes and its rumblings of succession.
Further Listening:
- The World’s Richest Person Is Planning for Succession
Further Reading:
- The Estée Lauder Family Built a Beauty Empire. A Succession Rift Threatens It
- Estée Lauder Stock Plunges After Another Profit Warning
- Estée Lauder’s Big Bet on China Is Looking Not So Pretty
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Changpeng Zhao built Binance into the world’s largest cryptocurrency exchange, and became one of the faces of crypto in the process. Last week, he appeared in federal court and pleaded guilty to violating U.S. anti-money-laundering laws and agreed to step down as CEO. WSJ’s Patricia Kowsmann explains what the deal means for Zhao, Binance, and the future of crypto itself.
Further Listening:
- The Trial of Crypto’s Golden Boy
- The Rise of Binance - And The Effort to Reel It In
Further Reading:
- Inside Binance’s Guilty Plea and the Biggest Fine in Crypto History
- The World’s Biggest Crypto Firm Is Melting Down
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We’re off today, but we still have a great episode for you. A texting scam that originated in China is on the rise in the United States. It’s more sophisticated than scams of the past, and it has already cost American victims more than $400 million. WSJ’s Robert McMillan explains how pig-butchering works, and one victim shares how it’s impacted her.
This episode originally published in November 2022.
Further Reading:
-A Text Scam Called ‘Pig Butchering’ Cost Her More Than $1.6 Million
-Online Scams Cost Americans Billions. Here’s How to Avoid the Worst of Them.
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Ocean Spray’s farmers are responsible for 65% of the world’s cranberries. It’s not a publicly traded company. It’s not a traditional private company, either. It’s a cooperative founded nearly a century ago and owned by roughly 700 families. WSJ’s Ben Cohen tells the story of how the cranberry got into the can, and how the company is planning for a future beyond your Thanksgiving table.
Further Reading:
- These People Are Responsible for the Cranberry Sauce You Love to Hate
Further Listening:
- Are Rotisserie Chickens 'Inflation-Proof'?
- The Twinkie: From Bankruptcy to Billions
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Cheap drones, once the domain of hobbyists, are now in high demand on battlefields. Following Hamas's attack on October 7, Israel has been flooding suppliers with requests for drones: it wants as many as possible, as soon as possible. WSJ’s Heather Somerville unpacks the benefits and perils of the use of off-the-shelf drones in modern warfare.
Further Reading:
-Israel Wants Inexpensive Drones. Chinese, American—It Doesn’t Matter.
-How the Technological Revolution in Ukraine Is Reshaping Modern Warfare
-U.S. Drone Startups See an Opening in Ukraine
Further Listening:
-The Surprising Origins of Russia’s Drones
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OpenAI unexpectedly fired its CEO and co-founder Sam Altman on Friday. The move kicked off a series of twists and turns that left the company and its staff in upheaval. WSJ’s Deepa Seetharaman wades through the chaos and explains what might be next for the company.
Further Listening:
- A Conversation with OpenAI’s Sam Altman and Mira Murati
Further Reading:
- OpenAI Employees Threaten to Quit Unless Board Resigns
- Sam Altman Is Out at OpenAI After Board Skirmish
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A Wall Street Journal investigation found that only 14% of emergency departments nationwide have been certified to treat kids. WSJ’s Melanie Evans explains why this is a problem across the country, and one family recounts their son’s experience in an ER.
Further Reading:
-Find Hospitals Deemed Ready to Treat Children in Your Area
-Children Are Dying in Ill-Prepared Emergency Rooms Across America
-Emergency Rooms Are Failing Kids. This Hospital Stepped Up.
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Inflation has been a big problem in the U.S. economy over the past couple of years. The Federal Reserve has been trying to tamp it down without crashing the economy. WSJ’s Amara Omeokwe explains why a so-called soft landing is coming into view.
Further Reading:
- Cooling Inflation Likely Ends Fed Rate Hikes
- The Elusive Soft Landing Is Coming Into View
- The Global Fight Against Inflation Has Turned a Corner
Further Listening:
- Why a Soft Landing for the Economy Could Be Hard
- Will the Fed Stop Raising Interest Rates?
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The longest actors strike in Hollywood history finally came to an end last week. WSJ’s Joe Flint explains why it took so long, and how the industry might change as a result.
Further Listening:
-The Case of the Hollywood Shutdown
-One Hollywood Writer on the Industry’s ‘Dire’ Situation
Further Reading:
-The Actors Strike Is Over. Now Comes the Wait for New Films and Shows.
-The Sticking Point That’s Keeping Actors on Strike
-Hollywood Actors Reach Agreement With Studios, Streamers to End Strike
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On Monday, Israeli troops reached Gaza’s largest hospital, Al-Shifa where Israel says Hamas conceals a major command center. WSJ’s Chao Deng and Margherita Stancati discuss what's happening at the hospital, where thousands of people, including patients and doctors, are trapped because of the fighting.
Further Listening:
- For Palestinians Trapped in Gaza, There’s No Way Out
- The War Between Israel and Hamas
Further Reading:
- Israeli Forces Reach Gate of Gaza’s Largest Hospital
- Israel Pushing for Hamas to Surrender Stricken Al-Shifa Hospital
- Gaza’s Al-Shifa Hospital Goes Dark at Center of Israel-Hamas Battle Zone
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An economic downturn in China has resulted in historically high youth unemployment. At the same time, China’s leader Xi Jinping thinks the countryside is in need of rejuvenation. WSJ’s Brian Spegele explains how the Chinese leader is trying to tackle both issues in one fell swoop.
Further Reading:
-China Has an Idea for Its Legions of Unemployed Youth: Send Them Away
-How Bad is China’s Economy? Millions of Young People Are Unemployed and Disillusioned
Further Listening:
-Why Millions of Chinese Young People Are Unemployed
-China’s Property Market Crisis
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The trial of Sam Bankman-Fried is over. Rachel Humphreys and Caitlin Ostroff reflect on their month at court and answer outstanding questions about what happened at FTX, the trial and what comes next. Plus they reveal the final court cafeteria coffee tally.
Further Reading:
- Smoked Fish, Shaggy Hair and Tears: 8 Unforgettable Moments From Sam Bankman-Fried’s Trial
Further Listening:
- The Trial of Crypto’s Golden Boy
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Former Meta engineer Arturo Bejar thought he could help make Instagram safer after his daughter experienced harassment on the platform. But Bejar said that his concerns were not sufficiently addressed by senior leadership at the company and that teens are still at risk for harassment and bullying on Meta's platforms.
Further Listening:
Further Reading:
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Oregon became the first state to decriminalize all drugs in 2020. The goal was to steer people to treatment who otherwise might have faced jail time. WSJ’s Zusha Elinson explains why many in Oregon have since turned against the decriminalization initiative.
Further Reading:
- Oregon Votes to Decriminalize All Drugs, Allow Psilocybin for Mental-Health Treatment
Further Listening:
- The Highs and Lows of Diversifying the Cannabis Industry
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WeWork, the office space coworking company, filed for bankruptcy yesterday. The company’s decision comes after it struggled with debt and a slump in the commercial real estate market. WSJ’s Eliot Brown recounts how the embattled startup ended up in bankruptcy.
Further Listening:
-WeWork’s CEO on the Future of Work
Further Reading:
-Adam Neumann Wounded WeWork. An Office Market Bust Finished It Off.
-WeWork, Once Valued at $47 Billion, Files for Bankruptcy
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Home buyers and sellers face the prospect of major changes to the ways they pay their real-estate agents, following a historic verdict against the National Association of Realtors and large residential brokerages. WSJ’s Laura Kusisto explains the stakes.
Further Reading:
-The Way You Pay to Buy or Sell a Home Is About to Change
-Jury Finds Realtors Conspired to Keep Commissions High
-Real-Estate Commissions Could Be the Next Fee on the Chopping Block
Further Listening:
-Homeowners Don’t Want to Sell. So Builders Are Cashing In.
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Brothers Ben and Max Morrissey were killed over a year ago by an explosion at their workplace, an oil refinery co-owned and operated by the oil giant BP in Ohio. WSJ's Jenny Strasburg talks to family members the brothers left behind and investigates what went wrong at the refinery.
Further Reading:
-He Feared His Refinery Job. His Brother Stayed to Help. The Explosion Hit at 6:46 P.M.
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A jury convicted FTX founder Sam Bankman-Fried of stealing billions of dollars from customers and lenders, in what prosecutors called one of the biggest financial frauds in U.S. history. Rachel Humphreys and Caitlin Ostroff were inside the courtroom for the verdict.
Further Reading:
- What’s Happening Today at the Sam Bankman-Fried Trial
Further Listening:
- The Trial of Crypto’s Golden Boy
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Meta, the parent of Facebook and Instagram, will soon find out how much users in Europe are willing to pay to access its social media platforms without ads. Meta’s subscription plan is the company’s latest move to address data privacy concerns from European Union regulators. WSJ’s Sam Schechner explains.
Further Reading:
- Meta Pauses Ads for Users Under 18 in Europe as It Rolls Out Subscriptions
- Meta Plans to Charge $14 a Month for Ad-Free Instagram
Further Listening:
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Both the prosecution and the defense make their final pitches to the jury as FTX founder Sam Bankman-Fried’s trial comes to a close. Rachel Humphreys and Caitlin Ostroff unpack closing arguments and look ahead to the trial’s conclusion.
Further Reading:
- What’s Happening Today at the Sam Bankman-Fried Trial
Further Listening:
- The Trial of Crypto’s Golden Boy
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Randy Hatton and Leslie Hendeles spent nearly two decades trying to convince the Food and Drug Administration that phenylephrine, a drug commonly used in cold medicines, was ineffective. In September, an advisory panel finally agreed. Now, some of the medicines are being pulled from store shelves.
Further Reading:
- If Some Cold Medicines Don’t Work, What Should You Take for a Stuffy Nose?
- CVS Pulls Certain Cold Medicines From Shelves and Will Stop Selling Them
- These Are the Two Scientists Taking Down Cold Medicines That Don’t Work
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A Danish antiques dealer named Ittai Gradel noticed a particular seller repeatedly listing valuable items for sale online at rock-bottom prices. WSJ's Max Colchester recounts how Gradel's sleuthing would eventually reveal a major antiques heist involving stolen British Museum antiquities.
Further Listening:
-How Investigators Cracked a $3.4 Billion Crypto Heist
-Is This Painting a Masterpiece? AI Is On the Case
Further Reading:
-How an Academic Uncovered One of the Biggest Museum Heists of All Time
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Prosecutors have started to cross examine Sam Bankman-Fried on the witness stand. Rachel Humphreys and Caitlin Ostroff explore the competing narratives being painted by the government and the defense.
Further Reading:
- What’s Happening Today at the Sam Bankman-Fried Trial
Further Listening:
- The Trial of Crypto’s Golden Boy
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Today, General Motors became the last of the Detroit automakers to reach a tentative deal with the United Auto Workers union. It follows tentative agreements struck last week with Ford and Stellantis and is expected to end a strike that has spanned more than six weeks. We speak to WSJ’s Nora Eckert about the agreements reached and what it means for the U.S. auto industry and labor movement.
Further Reading:
- Detroit Is Paying Up to End the UAW Strike. Now Carmakers Will Live With the Costs.
Further Listening:
- 2023: The Year of the Strike
- ‘We’ll Strike All Three’: The UAW’s Historic Walkout
- Meet the Man Who Has Detroit on Edge
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With the jury in attendance, Sam Bankman-Fried took the stand to testify in his defense. Rachel Humphreys and Caitlin Ostroff break down where his story of the FTX collapse has differed from the testimony of his former colleagues Caroline Ellison and Nishad Singh.
Further Reading:
- What’s Happening Today at the Sam Bankman-Fried Trial
Further Listening:
- The Trial of Crypto’s Golden Boy
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TikTok is launching its Shop feature in the U.S. after mixed success in other countries. Meanwhile, Amazon’s Inspire feature brings short-form video to its shopping app. WSJ’s Meghan Bobrowsky on why the two companies are taking pages from each other’s playbooks.
Further Listening:
-How TikTok Became the World’s Favorite App
-The Billionaire Keeping TikTok on Your Phone
Further Reading:
-Amazon Confronts a New Rival: TikTok
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After a short break, court is back in session as Sam Bankman-Fried takes the stand to testify in his defense. Rachel Humphreys and Caitlin Ostroff were inside the courtroom to hear some of Bankman-Fried’s side of the story and how the prosecution worked to pick it apart.
Further Reading:
- What’s Happening Today at the Sam Bankman-Fried Trial
Further Listening:
- The Trial of Crypto’s Golden Boy
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Just a few days ago, Rep. Mike Johnson of Louisiana was so unknown that fellow Republicans had to google his name. Now he’s Speaker of the House. WSJ’s Siobhan Hughes explains his meteoric rise.
Further Reading:
-Mike Johnson Elected House Speaker, Ending Three Weeks of GOP Feuding
-New Speaker Mike Johnson Made His Name as Cultural Conservative
Further Listening:
-Why the House Still Doesn’t Have a Speaker
-The Fight Over Speaker of the House
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WSJ reporter Evan Gershkovich was arrested in Russia in March while on a reporting trip. He is being held in a Moscow prison awaiting trial. We speak to his parents Ella Milman and Mikhail Gershkovich on the eve of Evan's 32nd birthday about their efforts to free their son.
Further Reading:
- Evan Gershkovich: The Latest Updates on the WSJ Reporter Detained in Russia
Further Listening:
- A WSJ Reporter Arrested in Russia
- Russian Court Upholds WSJ Reporter’s Detention
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The Philippines and China are in an ongoing dispute over competing territorial and maritime claims in the South China Sea. A recent incident at Scarborough Shoal has added to tensions. WSJ’s Niharika Mandhana explains.
Further Reading and Watching:
-China Coast Guard Ship Collides With Philippine Boat in South China Sea
-How a Tiny Crew Struck a Blow Against China With a Wooden Boat and a Knife
-Philippines Removes Chinese Floating Barrier in South China Sea
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As Israel’s war with Hamas enters its third week, increased violence in the West Bank and on the border with Lebanon is fueling concerns of a larger regional war. WSJ’s Sune Rasmussen reports on Iran’s support of three militant groups: Hamas, Hezbollah and Palestinian Islamic Jihad.
Further Listening:
- What We Know About the Gaza Hospital Blast
Further Reading:
- Northern Israel Prepares for Possible War With Hezbollah
- Violence Surges in the West Bank Following Hamas Attack on Israelis
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Two of the creators of ChatGPT discuss job disruption, data and the ‘person-ness’ of AI chatbots with WSJ’s Joanna Stern.
Further Listening:
-The Hidden Workforce That Helped Filter Violence and Abuse Out of ChatGPT
Further Reading:
-3 Things I Learned About What’s Next in AI
-You Can Now Talk With ChatGPT and It Sounds Like a Human (Pretty Much)
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On Tuesday evening, an explosion rocked a hospital in northern Gaza where hundreds were sheltering from Israeli airstrikes. The Gaza Ministry of Health blamed Israel for the blast but Israel, the U.S. government and independent security experts said preliminary evidence pointed to a local militant group. WSJ’s Yaroslav Trofimov explains what we know so far about the blast.
Further Reading:
- U.S., Experts Say Evidence Suggests Palestinian Militants’ Rocket Hit Gaza Hospital
- Live Coverage: Israel-Hamas War
Further Listening:
- For Palestinians Trapped in Gaza, There’s No Way Out
- The War Between Israel and Hamas
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Over the course of Sam Bankman-Fried’s trial, the jury has seen evidence and heard testimony about the money circulating through FTX and Alameda. Rachel Humphreys and Caitlin Ostroff break down the prosecution’s case, and trace where the government says the money was coming from and where it went.
Further Reading:
- What’s Happening Today at the Sam Bankman-Fried Trial
Further Listening:
- The Trial of Crypto’s Golden Boy
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After years of internal debate, Disney did a deal with a gambling company and will launch a betting app next month through its sports channel ESPN. WSJ’s Robbie Whelan explains how the family-friendly entertainment giant got to this point.
Further Listening:
-The Troubled Second Act of Disney CEO Bob Iger
-The Disney Boss Who Wouldn’t Let It Go
Further Reading:
-Disney Goes All In on Sports Betting
-ESPN Explores Sports-Betting Deal Worth at Least $3 Billion
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More than a week after Hamas militants launched a deadly attack on Israel, the fate of around 200 hostages held captive in Gaza is unclear. Direct lines of communication with Hamas are difficult, but two countries in the region have positioned themselves as key intermediaries: Qatar and Turkey. WSJ’s Drew Hinshaw and Joe Parkinson on what we know about who was taken and how the backchannel diplomacy is working.
Further Listening:
- For Palestinians Trapped in Gaza, There’s No Way Out
- The War Between Israel and Hamas
Further Reading:
- Dozens of Countries Scramble to Identify More Than 150 Citizens Held Hostage in Gaza
- ‘I’m Not a Diplomat…I’m a Mom.’ The American Parents Thrust Into the Israeli Hostage Crisis.
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Nishad Singh— another critical member of Sam Bankman-Fried’s inner circle— testified Monday saying FTX customer money was used to fund political donations and that he pushed back on Bankman-Fried’s spending on celebrities. Rachel Humphreys and Caitlin Ostroff unpack his testimony and discuss a medical issue Bankman-Fried raised to the judge.
Further Reading:
- What’s Happening Today at the Sam Bankman-Fried Trial
Further Listening:
- The Trial of Crypto’s Golden Boy
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The war between Israel and Hamas is one of the biggest tests of social-media’s content policing in years. Platforms have been dealing with a range of challenges, such as misidentified video footage, fabricated information and violent content. As WSJ's Tim Higgins explains, Elon Musk’s Twitter-turned-X has had major stumbles and is drawing European regulators' scrutiny.
Further Reading:
-Elon Musk and Linda Yaccarino Point X in Different Directions Amid Israel-Hamas War
-X Fumbles First Big Musk-Era Test of Content Policies After Israel Attack
Further Listening:
-Elon Musk Wants to Build an Everything App
-Elon Musk on 2022 Politics, Succession Plans and Whether AI Will Annihilate Humanity
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Americans are walking off the job at a rate not seen in years. The U.S. has lost seven million workdays to walkouts so far this year. WSJ’s David Harrison on the factors that are making this year one of the best in recent memory to strike.
Further Listening:
-‘We’ll Strike All Three’: The UAW’s Historic Walkout
-Meet the Man Who Has Detroit on Edge
-The Case of the Hollywood Shutdown
Further Reading:
-UAW Joins Wave of Union Strikes Looking for Big Wins
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Caroline Ellison took the stand for a third day as attorneys for Sam Bankman-Fried questioned her about her role in the collapse of FTX and Alameda Research. Rachel Humphreys and Caitlin Ostroff caught up with WSJ’s James Fanelli after court to unpack the defense’s strategy.
Further Reading:
- What’s Happening Today at the Sam Bankman-Fried Trial
Further Listening:
- The Trial of Crypto’s Golden Boy
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As Israel retaliates against Hamas for its deadly attack Saturday, it has launched unrelenting air strikes on Hamas-controlled Gaza. Neighborhoods, hospitals and schools now lie in ruins. More than a quarter-million people have fled their homes. And water, food and fuel are scarce. We talk to the WSJ’s Jared Malsin and a doctor on the ground in Gaza about the mounting crisis there.
Further Listening:
- The War Between Israel and Hamas
- An Interview with National Security Council Spokesperson John Kirby
Further Reading:
- As Israel Bombards Gaza, Fears of Humanitarian Disaster Mount
- Israel Aims to Dismantle Hamas as Blinken Tries to Prevent Wider War
- Israel Sought to Contain Hamas for Years. Now It Faces a Potentially Costly Fight to Eliminate It.
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Caroline Ellison, the former CEO of Alameda, took the stand for a second day Wednesday. Producer Rachel Humphreys and WSJ’s Caitlin Ostroff discuss Ellison’s testimony and what it revealed about alleged bribes to Chinese officials, misleading statements to investors, and the final days of FTX.
Further Reading:
- What’s Happening Today at the Sam Bankman-Fried Trial
Further Listening:
- The Trial of Crypto’s Golden Boy
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The U.S. House of Representatives has been without a Speaker for more than a week. Now, Republicans say that they have a nominee for the position. WSJ’s Katy Stech Ferek describes the recent chaos, why Republicans appear to have rallied around Steve Scalise and what happens next.
Further Reading:
-Republicans Nominate Steve Scalise for House Speaker Over Jim Jordan
-Could Steve Scalise Quell the House GOP Revolt to Become Speaker?
Further Listening:
-The Fight Over the Speaker of the House
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Caroline Ellison met Sam Bankman-Fried trading at Jane Street. The two would go on to have a close professional and personal relationship as his crypto empire grew and then eventually imploded. Now, she has pleaded guilty and is testifying against him. Producer Rachel Humphreys and WSJ’s Caitlin Ostroff discuss her testimony and how the government is using it to build their case against Bankman-Fried.
Further Reading:
- What’s Happening Today at the Sam Bankman-Fried Trial
Further Listening:
- The Trial of Crypto’s Golden Boy
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Early Saturday, Hamas fired thousands of rockets into Israel as its fighters poured across the border from Gaza, killing hundreds and taking others hostage. In response, Israel declared war on Hamas and began retaliatory strikes on Gaza, also killing hundreds. WSJ’S Dov Lieber on a “game-changing” moment in Israeli-Palestinian relations and what comes next.
Further Reading:
- Iran Helped Plot Attack on Israel Over Several Weeks
- Israel Readies for Ground War in Gaza
- What is Hamas? What to Know About the Militant Group Fighting Israel
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We're off today for the holiday, but we still have an episode for you!
WSJ's Take On the Week is a new WSJ show that breaks down the most important things to watch in business and financial news to help you make smarter investment decisions. This week, host Dion Rabouin looks at big banks, a big yield and a big release for Taylor Swift.
If you like the show, follow it for more.
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Gary Wang, FTX’s former chief technology officer, took the stand in the government’s case against Sam Bankman-Fried. Producer Rachel Humphreys and WSJ’s Caitlin Ostroff discuss what Wang says he knows about the secret code that allowed Alameda Research to borrow billions of dollars of customer money from FTX.
Further Reading:
- What’s Happening Today at the Sam Bankman-Fried Trial
Further Listening:
- The Trial of Crypto’s Golden Boy
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When the Federal Trade Commission filed a lawsuit against Amazon last week, there was a big redacted section. WSJ’s Dana Mattioli on what she discovered underneath the redactions.
Further Reading:
- Amazon Used Secret ‘Project Nessie’ Algorithm to Raise Prices
- FTC Sues Amazon, Alleging Illegal Online-Marketplace Monopoly
Further Listening:
- Congress’s Case to Break Up Amazon
- Biden’s New FTC CHair Squares Off With Big Tech
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A legal battle is unfolding in New York City over a law that sets a roughly $18 minimum wage for food delivery workers. Four major app-based delivery companies — DoorDash, Grubhub, Relay and Uber Eats — have sued to block the law. WSJ’s Erin Ailworth unpacks the legal arguments, and a food delivery worker explains what’s at stake for him.
Further Reading:
-Judge Allows App-Based Delivery Workers in NYC to Make $18 an Hour
-DoorDash, Uber Eats and Grubhub Sue New York City Over Minimum-Wage Law
Further Listening:
-The Real Cost of 15 Minute Grocery Delivery
-Can Food Delivery Make Money?
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With a jury selected, lawyers from the prosecution and defense make their opening statements. Rachel Humphreys and WSJ’s Caitlin Ostroff get their first clues into some of the strategies that will unfold throughout the trial.
Further Reading:
- What’s Happening Today at the Sam Bankman-Fried Trial
Further Listening:
- The Trial of Crypto’s Golden Boy
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In 2021, Philip Morris International acquired three pharmaceutical companies for more than $2 billion as part of a plan to pivot away from cigarette sales. The deals inserted the Marlboro maker into the market for inhalers and other treatments for respiratory diseases that are linked to cigarette smoking. We talked with WSJ’s Jennifer Maloney about how the company’s plan hasn’t gone so smoothly.
Further Listening:
- The ‘Existential Threat’ Facing Big Tobacco
- The Fight Over a Menthol Cigarette Ban
Further Reading:
- Marlboro Maker Hits Reset on $2 Billion Bet on Medicine
- Philip Morris Raises Offer for Swedish Match and Buys U.S. Rights for IQOS
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On the first day of trial, Sam Bankman-Fried debuts a new haircut and the judge begins the process of selecting a jury. WSJ’s Caitlin Ostroff delves into the judge who will preside over this historic trial, and the jury who will determine Bankman Fried’s fate.
Further Reading:
- Sam Bankman-Fried’s Courtroom Look Spells a Personal Vibe Shift
- Crypto Could Be a Mystery to Jurors in Bankman-Fried Case
Further Listening:
- The Trial of Crypto’s Golden Boy
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Long-time rivals Ford and General Motors are battling over how a $7,500 tax credit for electric cars should be interpreted. WSJ’s Andrew Duehren explains how this bleeds into the Biden administration’s conflicting priorities of reducing American reliance on Chinese batteries while also achieving clean energy goals.
Further Reading:
-This Ford vs. GM Feud Could Shape the Future of EVs in America
Further Listening:
-‘We’ll Strike All Three’: The UAW’s Historic Walkout
-Biden’s New Move Against Chinese Tech
-Ford and GM's Battle for the Hottest Electric Vehicle Startup
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Black lung, a devastating illness caused by prolonged exposure to dust, has made a comeback in the past two decades after hitting a low in the 1990s. One in five coal miners in Central Appalachia now have the disease. WSJ’s Kris Maher and former miner James Howerton on how black lung is gripping coal country and upending miners’ lives.
Further Reading:
- Black Lung Resurgence Prompts New Mining Rules
Further Listening:
- Europe is Turning to Coal. What Does That Mean for Climate Change?
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In 2022, crypto markets were in turmoil, but Sam Bankman-Fried's empire seemed to weather it all. That is until one week in November, when he went from crypto's savior to its biggest villain. WSJ’s Caitlin Ostroff tracks the unprecedented collapse of Bankman Fried’s empire, and the big secret that would prove to be its downfall.
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Twinkies have been around for almost a hundred years. During the course of the cake’s history, the company that makes Twinkies went into bankruptcy twice. WSJ’s Jesse Newman explains the strategic changes and snacking trends that led J.M. Smucker to announce it is buying Hostess for $4.6 billion.
Further Listening:
-The Agony and the Ecstasy of Tab
-Oatly Pioneered Oat Milk. Now it’s Struggling to Keep Up.
-PepsiCo’s New Healthy Diet: More Potato Chips and Soda
Further Reading:
-Why the Twinkie Is Now Worth Billions
-Smucker Sets Sights on Snacks With $4.6 Billion Twinkies Deal
-America Is Binging on Snacks, and Food Companies Are Eating It Up
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TikTok had hardly any friends in the U.S. government when, earlier this year, the Biden administration and Congress threatened to ban the Chinese-owned video giant. WSJ’s Stu Woo profiles financier Jeff Yass, who made a big bet on the app and is a top donor to lawmakers opposing a ban.
Further Listening:
- What’s Up With All the TikTok Bans?
- Exclusive: TikTok’s CEO on the App’s Future in the U.S.
- How TikTok Became the World’s Favorite App
Further Reading:
- The Billionaire Keeping TikTok on Your Phone
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JPMorgan is paying $75 Million to settle a lawsuit accusing the bank of aiding Jeffrey Epstein’s alleged sex trafficking. WSJ’s Dave Benoit delves into the twists and turns revealed during the legal proceedings and discusses what the settlement means for the bank’s reputation.
Further Reading:
- JPMorgan Paying $75 Million to Settle Suit Over Jeffrey Epstein Ties
- JPMorgan’s Ties to Jeffrey Epstein Were Deeper Than the Bank Has Acknowledged
Further Listening:
- A $175 Million ‘Huge Mistake’
- How Jeffrey Epstein Made His Money
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WSJ’s Nidhi Subbaraman on the scientists who moonlight as data detectives and whose discoveries have upended careers.
Further Reading:
-The Band of Debunkers Busting Bad Scientists
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After Wagner leader Yevgeny Prigozhin was killed in a plane crash last month, he left behind a vast network of political connections, companies and mines throughout Africa. WSJ’s Benoit Faucon chronicles the rise of Wagner’s Dmitry Sytii, the current frontman of Wagner’s African operations.
Further Reading:
- The Elusive Figure Running Wagner’s Embattled Empire of Gold and Diamonds
Further Listening:
- The Plane Crash That Killed Yevgeny Prigozhin
- The Mutiny That Shook Putin's Grip on Power
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Before his downfall, Sam Bankman-Fried drew comparisons to Warren Buffett, J.P. Morgan and other titans of finance. As his trial approaches, WSJ’s Caitlin Ostroff charts the meteoric rise of crypto’s golden boy, exploring how he sold customers and powerful people on his ideas, while hiding secrets under the hood of his flashy crypto empire.
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Ties between Canada and India have sunk to a low. This week, Canadian Prime Minister Justin Trudeau alleged India was potentially involved in the killing of a Sikh separatist in a suburb of Vancouver, a charge India denies. WSJ’s Tripti Lahiri explains why the crisis is now ensnaring other big democracies.
Further Reading:
- India Suspends Visas for Canadians as Rift Over Killing Deepens
- India Blasts Canada Over Trudeau’s Allegation That It Played Role in Killing
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Rupert Murdoch, 92, announced he's stepping down as chairman of Fox and News Corp, the two companies that have made him a force in global media. WSJ's Amol Sharma discusses how Murdoch became a media tycoon and what comes next for his empire.
Further Reading:
-Rupert Murdoch to Step Down as Chair of Fox and News Corp After Seven-Decade Career
Further Listening:
-Behind the Breakup of Fox and Tucker Carlson
-Dominion Voting Systems vs. Fox News
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Federal Reserve officials voted to hold interest rates steady at a 22-year high but signaled they were prepared to raise rates once more this year to combat inflation. WSJ's Nick Timiraos explains the Fed’s “soft landing” goal of lowering inflation without crashing the economy.
Further Reading:
- Fed Holds Rates Steady but Pencils in One More Hike This Year
- Why a Soft Landing Could Prove Elusive
Further Listening:
- Will the Fed Stop Raising Interest Rates
- Homeowners Don’t Want to Sell. So Builders Are Cashing In.
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Sam Bankman-Fried built a crypto empire. Then the exchange he founded collapsed, revealing that billions of dollars of customer money was missing. Bankman-Fried was charged with fraud, and his trial begins Oct. 3. In a new series from The Journal, WSJ’s Caitlin Ostroff explores Bankman-Fried meteoric rise, devastating fall and the trail that will determine his future.
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A former Wells Fargo executive was recently sentenced for her role in the bank's 2016 fake account scandal. WSJ's Ben Eisen explains why that sentencing isn't the end of this story for Wells Fargo as the bank has struggled to overhaul the way it manages risks, even seven years later.
Further Reading:
-Former Wells Fargo Executive Avoids Prison Time in Fake-Accounts Scandal
-Wells Fargo Is Still in Fix-It Mode
Further Listening:
-Wells Fargo and the Fake-Account Fallout
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In 2006, after years of denial, ExxonMobil publicly acknowledged climate change for the first time. But internal documents show that behind the scenes, Exxon officials pushed to diminish concerns about climate change. WSJ’s Christopher M. Matthews breaks down the new findings.
Further Reading:
- Inside Exxon’s Strategy to Downplay Climate Change
- Exxon Predicts World Will Miss Climate-Change Targets
Further Listening:
- An Activist Investor and the Showdown Over Exxon’s Future
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For the first time, the United Auto Workers is striking all three Detroit car companies at once, targeting factories in Michigan, Ohio and Missouri. WSJ’s Nora Eckert explains the union’s unprecedented strategy and how much bigger the walkout could get.
Further Reading:
- UAW Goes on Strike Against GM, Ford and Stellantis
- UAW’s Strike Strategy: Start Small and Keep ’Em Guessing
Further Listening:
- Meet the Man Who Has Detroit on Edge
- Scandal Engulfs One of America’s Biggest Unions
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For years, West Virginia University, a state flagship, poured money into gleaming new research facilities and dormitories to attract new students. It had to borrow money to do so. The university now faces a huge deficit and major cuts. It's a problem facing many major public universities, as WSJ’s Melissa Korn explains.
Further Reading:
-West Virginia University Banked on Growth. It Backfired.
-Colleges Urged to Produce Better Information on How They Spend Money
-Colleges Spend Like There’s No Tomorrow. ‘These Places Are Just Devouring Money.’
Further Listening:
-Wesleyan’s President on Admissions Post-Affirmative Action
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Yesterday, Apple announced a new iPhone 15 with a USB-C charger, the same cable its competitors use. As WSJ’s Kim Mackrael and Sam Schechner explain, at least some credit for the change can go to the European Union bureaucrats who have been increasingly battling Big Tech.
Further Reading:
- America’s Tech Giants Rush to Comply With New Curbs in Europe
- He Took On the World’s Most Valuable Company—and Won
Further Listening:
- FTC Chair Lina Khan on Microsoft Merger, ChatGPT and Her Court Losses
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Elon Musk’s wild mood swings are legendary. His “demon mode" gets a lot of attention from biographer Walter Isaacson in a new book about Musk. WSJ’s Tim Higgins talks with Isaacson about what fuels Musk’s "demon mode" and how it plays out in his business ventures.
Further Reading and Watching:
-Elon Musk’s Lessons From Hell: Five Commandments for Business
-Elon Musk Is Running Twitter on His Impulses
-The Real Story of Musk’s Twitter Takeover
Further Listening:
-Elon Musk Wants to Build an Everything App
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As ESPN tries to transition to streaming and attract younger viewers, the sports-media giant is venturing outside its comfort zone with its newest star: Pat McAfee. WSJ's Isabella Simonetti explains why the F-bomb-throwing former NFL punter is a big bet for the network.
Further Reading:
- ESPN Bets Big on Pat McAfee, an F-Bomb-Throwing YouTube Star
Further Listening:
- How Americans Watch Sports Is Changing
- The Troubled Second Act of Disney CEO Bob Iger
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In the U.S., one in five mothers suffers from mood and anxiety disorders during pregnancy or after birth. But many of them struggle to find help. Last year, the CDC reported that the leading cause of maternal deaths in the country are suicide or drug overdose. We spoke with two mothers about their experience postpartum and to reporter Anna Mutoh about the FDA’s approval of a new drug to fight postpartum depression.
Further Reading:
- The Tragedy of Being a New Mom in America
- First Pill for Postpartum Depression Is Approved by FDA
- U.S. Maternal Mortality Hits Highest Level Since 1965
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Spotify spent more than $1 billion to build up its podcasting empire. After years of costly acquisitions and celebrity partnerships, most of its shows are still not profitable. WSJ’s Anne Steele unpacks why Spotify’s big bet hasn’t paid off yet.
Further Reading:
- Spotify’s $1 Billion Podcast Bet Turns Into a Serial Drama
- Harry and Meghan Produce a Hollywood Flop: Themselves
Further Listening:
- Neil Young, Joe Rogan and Spotify’s Balancing Act
- Harry and Meghan, Hollywood Royalty?
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United Auto Workers president Shawn Fain is throwing out the traditional union playbook for contract negotiations. WSJ’s Nora Eckert reports that Fain is preparing for a strike, possibly against three automakers at once.
Further Listening:
-Why 46,000 Auto Workers Are on Strike
Further Reading:
-Meet the Man Who Has Detroit on Edge
-UAW Accuses GM, Stellantis of Unfair Labor Practices
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Airbnb listings in New York City are disappearing as the city cracks down on short-term rentals as a way to address its housing shortage. As of today, it will now enforce some of the toughest laws in the nation around short-term rentals. WSJ's Allison Pohle unpacks what's happening and why other big cities are taking note.
Further Reading:
-Airbnb Hosts and Guests Scramble as New York Begins Crackdown
-Airbnb Fights New NYC Short-Term Rental Requirements
Further Listening:
-Why Airbnb is Letting Employees Work Anywhere
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Happy Labor Day! We’re bringing you an episode that was originally published in June 2022.
Peshtigo, Wisconsin, is grappling with a crisis: Chemicals known as PFAS have leached from a nearby industrial site into the town's groundwater. WSJ's Kris Maher traveled to the town to report on what the community is doing and how the contamination has affected people's health and lives.
Further Reading:
- A Wisconsin Town With Contaminated Drinking Water Must Decide Its Future
- Startups Race to Kill ‘Forever Chemicals’
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Senate Minority Leader Mitch McConnell’s health is raising concerns. On Wednesday, McConnell froze and fell silent during a press conference. He had a similar incident earlier this summer. WSJ’s Siobhan Hughes reports on the veteran Republican’s health scare and the speculation about who might succeed him.
Further Reading:
- Mitch McConnell Freezes a Second Time During Kentucky Press Conference
- Mitch McConnell’s Health Scares Shine Spotlight on Senate’s ‘Three Johns’
Further Listening:
- How Biden and McConnell Do Business
- The Fight Over the Speaker of the House
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This week, the U.S. government named 10 drugs that will be subject to the first ever price negotiations by Medicare. WSJ’s Jared S. Hopkins talks about how this major change came about and pharmaceutical companies’ efforts to stop it.
Further Listening:
-How Big Pharma Lost Its Swagger
Further Reading:
-Expensive Drugs From Pfizer, Other Companies Targeted for First U.S. Price Negotiations
-U.S. Chamber of Commerce Challenges Federal Government’s New Drug-Price Powers
-Merck Challenges U.S. Government’s New Powers to Negotiate Drug Prices
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Another Chinese real estate developer could be on the brink of collapse. Country Garden, the nation’s largest property developer, announced it lost $6.7 billion in the first six months of the year. WSJ’s Rebecca Feng explains how China’s real estate market — a key part of the country’s economy — ended up on such shaky ground.
Further Reading:
-Country Garden, China’s Largest Surviving Developer, Sinks Into Debt Crisis
-China’s Deepening Housing Problems Spook Investors
Further Listening:
-Why Millions of Chinese Young People Are Unemployed
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Spain’s victory in the Women’s World Cup this month was quickly overshadowed when Luis Rubiales, a top Spanish soccer official, abruptly kissed a player on the lips while on stage. As WSJ’s Rachel Bachman explains, the incident has been met with condemnation and calls for bigger changes in the sport.
Further Listening:
-U.S. Soccer’s Equal Pay Deal and One Player Who Helped Negotiate It
-How Soccer Fans Killed the Super League
Further Reading:
-Spain Soccer in Turmoil as Federation Chief Refuses to Quit Over World Cup Kiss
-A Year After a Players’ Mutiny Against the Coach, Spain Is in the Women’s World Cup Final
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San Francisco has been the testing ground for self-driving car companies Cruise and Waymo. Now the companies want to expand statewide and to other cities across the U.S. But as WSJ’s Meghan Bobrowsky reports, the companies have faced opposition from some residents in their bid to compete with Lyft and Uber.
Further Reading:
- America’s Most Tech-Forward City Has Doubts About Self-Driving Cars
- Cruise, Waymo Get Approval to Expand Driverless Vehicles in San Francisco
Further Listening:
- The Promise and Peril of One Self-Driving Truck Company
- Kia and Hyundai’s ‘Kia Boyz’ Problem
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Two months after leading a failed uprising in Russia, Wagner paramilitary group leader Yevgeny Prigozhin is dead. A plane that Prigozhin was traveling in crashed outside Moscow on Wednesday. The cause of the crash is still unknown. WSJ’s Yaroslav Trofimov reports on the demise of the mercenary boss who challenged Russian President Vladimir Putin.
Further Reading:
- Wagner Chief Yevgeny Prigozhin, Who Clashed With Russian Military, Dies
- The Last Days of Wagner’s Prigozhin
Further Listening:
- The Mutiny That Shook Putin’s Grip on Power
- ‘Putin’s Chef’ New Serving Up Gains for Russia in Ukraine
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“The Blind Side” is an Oscar-winning movie about a wealthy family that adopts an underprivileged kid and helps him achieve his dreams. But now that narrative is being questioned. Michael Oher, the retired NFL player whose life the movie is based on, has filed a petition with a Tennessee court that alleges he was never adopted by the Tuohy family and that they made millions off his story. WSJ’s Andrew Beaton on the two sides of ‘The Blind Side’.
Further Reading:
-‘Blind Side’ Subject Says Family Lied About His Adoption and Made Millions Off Him
-‘Blind Side’ Family Calls Former NFL Player’s Claims a ‘Shakedown’
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In 2019, Hawaiian Electric concluded that it needed to do more to prevent equipment failures that could spark wildfires. In the wake of the Maui fires, the deadliest in the United States in more than a century, WSJ’s Katherine Blunt reports on why the company completed little such work.
Further Listening:
- ‘Everything Is Gone’ — One Resident on the Maui Wildfires
Further Reading:
- Hawaiian Electric Knew of Wildfire Threat, but Waited Years to Act
- Hawaii Officials Were Warned Years Ago That Maui’s Lahaina Faced High Wildfire Risk
- Officials Search for Remains of Maui Victims—and Answers for How the Wildfire Turned So Deadly
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Since the Chips Act passed last summer, the Commerce Department has been building a small team of elite Wall Street financiers to help allocate $39 billion in taxpayer-funded subsidies to hundreds of companies. We speak to WSJ’S Yuka Hayashi about the Chips Program Office team and to Todd Fisher, the man who leads it.
Further Listening:
- The U.S. Wants American-Made Chips. Can Intel Deliver?
- The $1 Trillion Company That Started at Denny’s
Further Reading:
- Why Washington Went to Wall Street to Revive the U.S. Chips Industry
- Chips Are the New Oil and America Is Spending Billions to Safeguard Its Supply
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As part of the U.S. nuclear tests after World War II, a total of 23 nuclear weapons were detonated on and around Bikini Atoll. Eventually, the U.S. set aside funding to help the people of Bikini and their descendants. But, as WSJ’s Dan Frosch reports, those compensation funds have been drained.
Further Reading:
-Nuclear Tests Ravaged Their Home. Their Leaders Drained a Compensation Fund Dry.
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Nike’s supply chain is under attack. WSJ’s Inti Pacheco explains how crime rings are swiping valuable, limited-edition sneakers as the shoes make their way from factories to store shelves, often staying steps ahead of police.
Further Reading:
- How Nike Sneakers Get Stolen at Every Turn
Further Listening:
- The Downfall of a $300 Million Sneaker King
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The wildfires that swept through Maui are America's deadliest in over a century, with at least 106 people killed. We speak to Javier Barberi, a local businessman who lost a house, restaurant and shaved ice shop in the fires.
Further Reading:
- Maui Wildfire Death Toll Climbs to 99 as Lahaina Residents Brace for More Victims
- Why Are the Maui Wildfires So Devastating?
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Yesterday, former President Donald Trump was indicted for the fourth time. This case, in Georgia, is the most ambitious and sweeping one against him yet. WSJ’s Cameron McWhirter reports on Fulton County District Attorney Fani Willis, the prosecutor leading the case.
Further Listening:
-Meet Jack Smith, the Special Counsel Prosecuting Trump
-What Will Trump's Third Indictment Cost Him?
-United States of America v. Donald J. Trump
Further Reading:
-Donald Trump Indicted in Georgia Over Effort to Overturn Election Results
-Fani Willis: The No-Nonsense Georgia Prosecutor on a Collision Course With Donald Trump
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On Friday, a federal judge revoked FTX founder Sam Bankman-Fried’s bail. The judge said SBF had pushed the limits of his bail conditions repeatedly and will await his expected October trial in jail. WSJ's Caitlin Ostroff reports on what she witnessed in the courthouse.
Further Reading:
- Judge Sends FTX’s Sam Bankman-Fried to Jail Ahead of Fraud Trial
- At FTX, Multimillion-Dollar Expenses Were Approved by Emoji
Further Listening:
- The FTX Insiders Turning Against Sam Bankman-Fried
- ‘Do You Expect to Go to Prison?’: An Interview With SBF
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Earlier this week, President Biden issued an executive order banning American firms from investing in some Chinese technology companies, citing national security concerns. WSJ's Andrew Duehren explains how the move fits into the complicated relationship between the two countries.
Further Reading:
- Biden Restricts U.S. Investment in China
- Sequoia Made a Fortune Investing in the U.S. and China. Then It Had to Pick One.
Further Listening:
- The U.S. Wants American-Made Chips. Can Intel Deliver?
- China’s Crackdown on Foreign Consulting Firms
- Are Apple and China Breaking Up?
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Jack Smith, the special counsel who brought two indictments against former President Donald Trump, has developed a reputation as an aggressive prosecutor known for trying high-stakes, politically explosive cases. But WSJ's Sadie Gurman says Smith has a mixed record on convictions.
Further Reading:
- Jack Smith Is Known to Take On Tough Cases. But He Doesn’t Always Win
- Trump’s Lawyers Argue Protective Order Would Violate His Free-Speech Rights
- New Definition of ‘Fraud’ Wipes Out High-Profile Prosecutions
Further Listening:
- What Will Trump's Third Indictment Cost Him?
- Donald Trump Is Charged on 34 Felony Counts
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The Pac-12, the so-called “Conference of Champions,” is melting down. Its revenue had been lagging behind the Big Ten and Southeastern Conferences, which now dominate college sports. But just as the Pac-12 was trying to revive itself and its revenue prospects, a rapid series of defections by member schools have left it hobbled. WSJ’s Laine Higgins unpacks what happened.
Further Reading:
- The Pac-12 Melts Down, as Five More Schools Depart for Other Conferences
- He Inherited ‘Multiple Dumpster Fires’ at the Pac-12. Then It Went Up in Smoke.
Further Listening:
- A Tipping Point for Paying College Athletes?
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More than one in five young people in China are jobless. The government blames college graduates, insisting that their expectations have gotten too high. WSJ’s Brian Spegele unpacks why new grads are holding out and what it could mean for China’s economy.
Further Reading:
-How Bad Is China’s Economy? Millions of Young People Are Unemployed and Disillusioned
-China’s Economic Recovery Weakens
Further Listening
-Xi Jinping Is Rewriting the Rules of China's Economy
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After the Supreme Court struck down race-based affirmative action earlier this summer, Wesleyan University dropped its admissions preference for children of alumni. But it will still consider whether applicants can afford tuition as part of the admissions process. Wesleyan President Michael Roth on why the elite institution is making those decisions.
Further Reading and Watching:
- Wesleyan University Ends Legacy Preferences in Admissions
- How Colleges Plan to Factor In Race Without Asking About Race
Further Listening:
- The Supreme Court Rules Against Affirmative Action
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Yellow, a nearly century-old trucking company and a major player in the American logistics industry, hit the brakes on operations and told its workers it plans to file for bankruptcy. WSJ’s Paul Page says Yellow’s financial woes have been decades in the making.
FURTHER READING:
- Trucking Giant Yellow Shuts Down Operations
- Why Trucking Giant Yellow’s Shutdown Could Cost Taxpayers Money
FURTHER LISTENING:
- How the White House Blocked a Rail Strike
- The Supply Chain Saga at One Port
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Former President Donald Trump will appear in court tomorrow on charges related to his efforts to reverse his 2020 election defeat, which prompted his supporters to attack the U.S. Capitol on Jan. 6, 2021. WSJ’s Sadie Gurman discusses the indictment and WSJ’s Alex Leary explains what Trump's legal challenges could mean for his campaign war chest and his presidential campaign.
Further Reading:
-Trump Is Indicted in Federal Probe of His Efforts to Reverse 2020 Election
-Indict, Rally, Repeat: Reactions to Latest Trump Charges Follow Familiar Script
-As Trump Crowds Out GOP Rivals, Legal Bills Threaten His Campaign Coffers
Further Listening:
-United States of America v. Donald J. Trump
-Donald Trump Is Charged on 34 Felony Counts
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It’s tough to find existing homes for sale these days. High mortgage rates are dissuading potential sellers. WSJ’s Nicole Friedman on a rare bright spot for house hunters: brand-new construction.
Further Reading:
-Homeowners Don’t Want to Sell, So the Market for Brand-New Homes Is Booming
-The Home Buyer’s Quandary: Nobody’s Selling
Further Listening:
-The Zombie Mortgages Stalking American Homeowners
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Mallinckrodt, one of the country's largest opioid makers, is considering a plan to get out of paying more than $1 billion in settlement money to opioid victims. WSJ's Alexander Saeedy explains.
Further Reading:
- Hedge Funds Seek to Cut Off $1 Billion Meant for Opioid Victims
Further Listening:
- Purdue’s $4.5 Billion Opioid Settlement Got Thrown Out. Now What?
- Two Days of Reckoning For Opioid Makers
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Amid Hollywood’s biggest strike in 60 years, WSJ’s Amol Sharma dons his investigator’s hat to find out who’s to blame for the standstill.
Further Reading:
- Streaming Brought Hollywood to a Standstill. Now Comes the Pain.
- TV’s Golden Era Proved Costly to Streamers
Further Listening:
- One Hollywood Writer on the Industry’s ‘Dire’ Situation
- Why ‘Yellowstone’ Is One of TV’s Most Expensive Shows
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Elon Musk says he’s turning X, the social-media platform formerly known as Twitter, into an “everything app,” an all in one place for messaging, entertainment and banking. WSJ’s Tim Higgins unpacks the vision and the hurdles ahead for Musk and his company.
Further Reading:
- Why Elon Musk’s Plan for a Super App Won’t Be Easy in America
- Elon Musk’s X Rebrand Cues Complications—and Porn Jokes
Further Listening:
- Elon Musk is Actually Buying Twitter
- Why Elon Musk’s Twitter Is Losing Advertisers
- Twitter’s New CEO: The Velvet Hammer
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The Justice Department announced a plea deal with Hunter Biden over two tax charges last month. But a hearing today didn't go as expected. WSJ’s Sadie Gurman on the latest twist in the legal case and what it means for President Biden ahead of next year's election.
Further Reading:
- Hunter Biden Pleads Not Guilty to Tax Charges
- Where Are Republicans’ Biden Probes Headed, and Is Impeachment Possible?
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The Federal Reserve is expected to raise interest rates again on Wednesday. The question is: Will this be enough to finally tame inflation? WSJ’s Nick Timiraos tells us about the fight between two camps of economists who are at odds about what will help – or hurt – the economy.
Further Reading:
-Why the Fed Isn’t Ready to Declare Victory on Inflation
-The Real Fed Debate This Month: What Would Prompt a Rate Hike This Fall
-Last Mile of the Inflation Fight Will Be the Hardest
Further listening:
-Why Some Companies Keep Getting Away With Higher Prices
-Why the Fed Raised Interest Rates Amidst a Banking Crisis
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For two years, Texas Republican Gov. Greg Abbott has inundated the U.S.-Mexico border with thousands of state troopers and National Guardsmen and started work on a state-controlled border wall. He also built a new skeleton justice system with its own courts, judges and jails to lodge misdemeanor state trespassing charges against migrants. WSJ’s Elizabeth Findell discusses Operatio n Lone Star and whether or not it’s been successful.
Further Reading:
- Texas Spent Billions on Border Security. It’s Not Working.
- Texas Trooper’s Email Describes Migrant Injuries at Southern Border
Further Listening:
- What the End of Title 42 Means for U.S. Immigration Policy
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"Barbie," the highly anticipated movie based on the iconic doll, hits theaters this weekend. But making the movie didn't come without challenges. We spoke with the head of Mattel Films, Robbie Brenner, about the creative push and pull to make the movie, whether it can be called a "feminist film," and Mattel's plans to open up its toy chest for more movies.
Further Reading:
- ‘Barbie’ Review: Beyond Her Ken
- World’s Strangest Double Feature: ‘Barbie,’ Then ‘Oppenheimer’
Further Listening:
- With Great Power, Part 1: Origin Story
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When Lina Khan took over as Chair of the Federal Trade Commission, she vowed to stiffen antitrust enforcement. Two years in, her attempts to rein in big mergers through the court system have been mostly unsuccessful. We speak to Khan about her big tech losses and why the FTC is concerned about ChatGPT.
Further Reading:
- ChatGPT Comes Under Investigation by Federal Trade Commission
- Lina Khan Is Taking on the World’s Biggest Tech Companies—and Losing
Further Listening:
- Microsoft’s Big Win Against the FTC
- Biden’s New FTC Chair Squares Off With Big Tech
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Eight months after returning as Disney’s CEO, Bob Iger is straining to put out fire after fire, including streaming losses, an activist investor and TV woes. WSJ’s Robbie Whelan explains why Disney’s troubles run deeper than Iger had expected.
Further Reading:
- Bob Iger Isn’t Having Much Fun
- Disney’s Iger Hints at Strategic Partner for ESPN
- Disney Extends CEO Robert Iger’s Contract Through 2026
Further Listening:
- Disney Wars: Attack of the Activist Investor
- The Disney Boss Who Wouldn't Let It Go
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Last week, a federal judge ruled that crypto company Ripple Labs did not violate securities laws by selling its token to retail investors. The ruling is seen as a setback for the Securities and Exchange Commission's strategy to regulate cryptocurrencies and as a victory for the crypto community as a whole. WSJ’s Vicky Huang explains.
Further Listening:
-SEC Chair Gary Gensler On His Crypto Crackdown
Further Reading:
-Ripple Ruling Deals a Blow to SEC’s Effort to Regulate Crypto
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Slashed tires, moved bookcases, a dead dog. For years, U.S. diplomats posted to Russia have experienced some strange things. WSJ’s Joe Parkinson and Drew Hinshaw report on the little-known spy unit, which U.S. officials believe is responsible for the surveillance and harassment of Americans in Russia, including WSJ reporter Evan Gershkovich.
Further Reading:
- Inside the Secretive Russian Security Force That Targets Americans
- Putin, Isolated and Distrustful, Leans on Handful of Hard-Line Advisers
Further Listening:
- A WSJ Reporter Arrested in Russia
- Russian Court Upholds WSJ Reporter’s Detention
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For decades, telecom companies have known that lead in their networks posed risks to workers, and did little about it. Lead can cause a variety of ailments in adults, affecting the kidney, heart and reproductive systems, and it is classified as a probable human carcinogen. WSJ’s Shalini Ramachandran explains the danger of lead cables -- and what telephone companies knew.
Further Reading:
- America Is Wrapped in Miles of Toxic Lead Cables
- What AT&T and Verizon Knew About Toxic Lead Cables
- Workers Exposed to Toxic Lead Cables Wrestle With the Aftermath
- How the Journal Investigated Hidden Lead Cables Circling the U.S.
Further Listening:
- Part 1: America Is Wrapped in Toxic Lead Cables
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In an 18-month investigation, The Wall Street Journal found thousands of lead covered cables across America, some leaching the toxic metal into places where people live, work and play. We travel with the team across the country to test the soil and water around these cables and speak to families living near them. WSJ’s Susan Pulliam and Shalini Ramachandran explain what these high levels of lead in The Journal's sampling could mean for people across the country.
Further Reading:
- America Is Wrapped in Miles of Toxic Lead Cables
- How the Journal Investigated Hidden Lead Cables Circling the U.S.
- Bayou Teche Is an Epicenter of America’s Lead Cable Problem
Further Listening:
- Part 2: What AT&T and Verizon Knew About Toxic Lead Cables
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Microsoft has cleared a big hurdle to purchase Activision Blizzard, the publisher of popular videogame franchises like “Call of Duty, “World of Warcraft” and “Candy Crush.” The Federal Trade Commission had tried to block the roughly $75 billion acquisition, but a federal judge has allowed the deal to move forward. WSJ’s Jan Wolfe explains what the ruling means for Microsoft and for the FTC.
Further Reading:
-Microsoft Can Close Its $75 Billion Buy of Activision Blizzard, Judge Rules
-Lina Khan Is Taking on the World’s Biggest Tech Companies—and Losing
Further Listening:
-Why Microsoft is Paying $75 Billion for Activision Blizzard
-Microsoft CEO Satya Nadella’s Big Bet on AI
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ChatGPT is one of the most successful tech products ever launched. And crucial to that success is a group of largely unknown data workers in Kenya. By reviewing disturbing, grotesque content, often for wages of just two to three dollars an hour, they helped make the viral chatbot safe. WSJ’s Karen Hao traveled to Kenya to meet those workers and hear about what the job cost them.
Further Reading:
- What Is ChatGPT? What to Know About the AI Chatbot
- The Contradictions of Sam Altman, AI Crusader
Further Listening:
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Meta recently launched a new app that's a direct competitor to Twitter. It's called Threads, and Meta's Mark Zuckerberg said it has garnered 50 million sign-ups in its first five days. WSJ's Salvador Rodriguez says the new app poses the biggest threat to Twitter, fanning the flames of a long rivalry between Twitter’s Elon Musk and Meta’s Zuckerberg.
Further Reading:
- Day After Threads Launches, Twitter Accuses Meta of Using Its Trade Secrets
Further Listening:
- Twitter’s New CEO: The Velvet Hammer
- What’s allowed on Elon Musk’s Twitter?
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Behind the scenes of Hollywood’s most successful studio, Marvel’s Ike Perlmutter and Kevin Feige clash over budgets and creative control. Marvel lawyer John Turitzin and screenwriter Stephen McFeely share new details of a corporate civil war.
Plus, a look at the future of superhero cinema, featuring interviews with “Guardians of the Galaxy Vol. 3” actor Chukwudi Iwuji and with Mallory Rubin and Joanna Robinson from The Ringer.
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Meet Kevin Feige, the president of Marvel Studios and the man who weaves all its films into one cinematic universe. The idea proves so popular that Feige becomes the most successful producer in modern Hollywood history. Meanwhile, rival DC Comics launches its own cinematic universe, led by director Zack Snyder. But can DC’s “Justice League” match Marvel’s “The Avengers”?
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In a meeting at Donald Trump’s Mar-a-Lago resort, Marvel’s Ike Perlmutter is pitched an unusual idea: That a small comic book publisher should make its own movies.
A ragtag crew working above a car dealership borrows $525 million, hires Jon Favreau and Robert Downey, Jr., and makes “Iron Man.” After its surprise success, Disney buys Marvel.
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Marvel Studios is the most dominant film studio on the planet today. But 25 years ago, it was bankrupt and selling furniture for cash. Its astonishing revival begins with two men: Ike Perlmutter and Avi Arad.
Industry insiders like comics writer Brian Michael Bendis and film producer Amy Pascal recount how Marvel went from its lowest point to its first big-screen blockbuster, Sony’s “Spider-Man” in 2002.
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We’re off today and tomorrow, but we still have a great episode for you.
For decades, the Robusta coffee bean has been the ugly duckling of the coffee world. Now, a new generation of coffee geeks think the time could be ripe for a Robusta revolution. WSJ’s Jon Emont explains why the humble bean is gaining momentum in the coffee industry.
This episode originally published in March 2023.
Further Reading:
-The Underdog Coffee Bean That Java Snobs Hate Is Finally Getting Some Respect
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Gun violence among young people is on the rise. In Denver, Colorado, one high school in particular has experienced a number of violent incidents in the past year, including two shootings in which two students died. We visited East High School to meet students, teachers and the superintendent who decided to bring armed police back to schools.
Further Reading:
-‘My Kid Can’t Sleep’: Gun Violence Drives Denver to Return Armed Police to Schools
- Juvenile Crime Surges, Reversing Long Decline. ‘It’s Just Kids Killing Kids.’
Further Listening:
- The Fight Over Banning the AR-15
- Remington's Surprising Sandy Hook Settlement
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The Supreme Court has ruled that affirmative action is unconstitutional in college admissions. We talk with WSJ's Douglas Belkin about how the decision upends decades of admissions policies at the nation's most selective schools. And WSJ's Lauren Weber describes how this ruling could impact corporate America.
Further Reading:
- Supreme Court Rules Against Affirmative Action
- The Man Behind the Case Seeking to End Affirmative Action
- Companies Brace for Supreme Court Ruling on Affirmative Action
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The Supreme Court is heading into the final stretch of its current session and there are a number of cases with major social implications yet to be decided. But as we wait for decisions on student loan forgiveness and affirmative action, another major issue is hanging over the court. WSJ’s Jess Bravin discusses ProPublica’s recent investigations into alleged ethical misconduct of Supreme Court justices and what they could mean for the institution.
Further Reading:
- OPINION: Justice Samuel Alito: ProPublica Misleads Its Readers
- Harlan Crow’s Gifts, Financial Ties With Justice Thomas Under Fresh Scrutiny by Democrats
- Chief Justice John Roberts Asked to Address ‘Ethical Standards’ at Supreme Court
Further Listening:
- Will Student Debt Get Canceled? The Supreme Court Decides.
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Superheroes have conquered Hollywood. They generate billions of dollars at the box office and have pushed other movies to the margins. That revolution has been led by Marvel Studios.
In a new four-part series, WSJ’s Ben Fritz goes behind the scenes and reports on how Marvel, a once-troubled comics publisher, soared to the top of the movie business. It’s a tale of rivalries, spite, little-known deals and incredible luck.
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In May, Taco Bell filed a petition with the U.S. Patent and Trademark Office, claiming that ‘Taco Tuesday’ is a common phrase and that any restaurant should be able to use it. The trademark owners—Taco John’s and Gregory’s Restaurant & Bar— have both moved to fight back in court to protect their exclusive rights. WSJ’s Joseph De Avila breaks down the clash of the taco titans.
Further Reading:
- The Battle for Taco Tuesday Gets Heated
- The Long Fight Over ‘Taco Tuesday’
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It was a weekend of chaos in Russia, as forces of the paramilitary Wagner Group marched towards Moscow in a short-lived revolt. WSJ's Yaroslav Trofimov describes what happened and explains why this is the biggest threat to President Vladimir Putin in his more than two decades in power.
Further Reading:
- After Weekend of Chaos in Russia, Questions Remain Over Fate of Wagner
- Why Wagner Chief Prigozhin Turned Against Putin
Further Listening:
- The Grim Story of a Russian Prisoner Turned Recruit
- ‘Putin’s Chef’ Now Serving Up Gains for Russia in Ukraine
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Long-dormant mortgages are coming back to bite. Homeowners around the country are facing large bills and even foreclosure threats from investors who own their second mortgages, often made more than a decade ago. We talk to WSJ’s Ben Eisen and a homeowner about why these seemingly dead mortgages are now coming back to life.
Further Reading:
- Zombie Mortgages Could Force Some Homeowners Into Foreclosure
Further Listening:
- Investors are Buying Up Homes. Cincinnati is Pushing Back
- The Downfall of a Real Estate Empire
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North Korean hackers have stolen more than $3 billion over the past 5 years. The U.S. government says a big share of that is being funneled into the country’s nuclear missile program. WSJ’s Robert McMillan discusses how these hackers have reached the top of the crypto hacking game.
Further Reading:
- How North Korea’s Hacker Army Stole $3 Billion in Crypto, Funding Nuclear Program
Further Listening:
- How Investigators Cracked a $3.4 Billion Crypto Heist
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Cracks are forming in a prestigious Wall Street institution: Goldman Sachs. Most bank CEOs make big decisions with a cadre of executives. But Goldman maintains a partnership with about 420 members, many of whom like to have a say in how the firm is run. WSJ’s AnnaMaria Andriotis explains why CEO David Solomon has come under fire from partners who complain about bonuses, strategy and that DJ side gig.
Further Reading:
- Goldman Sachs Is at War With Itself
- Goldman Sachs’s 80 New Partners Are the Happiest People on Wall Street Today
- Goldman Sachs Doesn’t Want to Be Everyone’s Bank, but It Has to Be Someone’s
Further Listening:
- Goldman Sachs and the 1MDB Scandal
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As wildfires increase in severity and frequency, thousands of homes in California have been destroyed and insurance companies' earnings have taken a hit. Now, two companies, State Farm and Allstate, have announced they will no longer offer new home insurance policies in the state. We speak to one homeowner and WSJ’s Jean Eaglesham about why the situation has escalated.
Further Reading:
- Home Insurers Curb New Policies in Risky Areas Nationally
- Allstate Stops Selling New Home-Insurance Policies in California, Citing Wildfire Risks
- State Farm Halts Home-Insurance Sales in California
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We’re off today, but we still have an episode for you!
In 1838, the Jesuits who founded Georgetown University sold 272 slaves to pay off the school's debts and keep the college afloat. Nearly 200 years later, the Jesuits want to make amends. But as Lee Hawkins explains, the path to racial healing can be a messy one. This episode originally published in May 2022.
Further Reading:
- For Georgetown, Jesuits and Slavery Descendants, Bid for Racial Healing Sours Over Reparations
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George Soros, the legendary investor, philanthropist and right-wing target, is handing control of his $25 billion empire to his fourth child—Alexander Soros, a former party boy and self-described center-left thinker. WSJ’s Gregory Zuckerman on how Alex Soros plans to deploy his family’s vast fortune.
Further Reading:
- George Soros Hands Control to His 37-Year-Old Son
- The Soros Era Is Over on Wall Street
Interested in other succession stories? Listen to:
- The World's Richest Person Is Planning for Succession
- Scholastic's Succession Drama
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Tamara Keefe, owner of Clementine’s Naughty & Nice Creamery in St. Louis, says she moved forward with plans to open two new ice cream shops based on her bank’s assurances it would provide loans. But she says the bank moved slowly, and now she’s running out of cash. WSJ’s Ruth Simon discusses why many local banks are tightening lending standards and what that could mean for small businesses like Tamara’s.
Further Reading:
- Banks Raise Roadblocks to Small-Business Loans
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Kate Linebaugh sat down with SEC Chair Gary Gensler to discuss why the agency is working to rein in crypto.
Further Listening:
- The Rise of Binance - And The Effort to Reel It In
- The Charges Against FTX's Sam Bankman-Fried
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Jigar Shah wants to change the nation’s energy future. He runs a crucial but little-noticed piece of the Biden administration’s strategy to address climate change, the Energy Department’s Loan Programs Office. And Shah presides over its giant pot of money to lend to companies. We speak with Shah about where he thinks the private sector is falling short in funding green energy and why he thinks the government has a role to play.
Further Reading:
- Green Investments Stuck Between Rising Risk and Government Backing
- Energy Department Commits $3 Billion to Expand Rooftop Solar Access
- Climate Funding Gets Squeezed by Volatile Markets
Further Listening:
- An Energy CEO on the Winding Path to a Green Grid
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For decades, the only way to watch all of your local baseball team’s games was on cable television. But as millions of Americans switch to streaming services, the economics of broadcasting baseball is changing. WSJ’s Amol Sharma explains baseball’s local broadcast deals and how one company’s bankruptcy is disrupting the model.
Further Reading:
- The Padres Spent Big on Players—Then Lost the TV Deal That Helps Pay for Them
- Broadcaster Diamond Sports Files for Bankruptcy With $8 Billion in Debt
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Federal prosecutors are accusing Donald Trump of holding on to sensitive military secrets he knew he shouldn’t have retained access to, sharing them, and directing his staff to help him evade authorities’ efforts to get them back. According to the indictment which was unsealed today, the classified documents in Trump’s possession included information about defense and weapons capabilities, nuclear programs, and plans for a possible retaliation in response to a foreign attack. WSJ’s Aruna Viswanatha discusses the 37-count indictment and what it means for Trump’s presidential run.
Further Reading:
-Trump Charged Over Willful Retention of Classified Information, Obstruction
-Trump Indicted in Classified Documents Case
Further Listening:
-Why FBI Agents Searched Mar-a-Lago
-What's Going on With Biden's Classified Documents?
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Once a titan in the tech industry, Intel is now trying to climb out of what its CEO describes as a “mud hole.” Rivals from Taiwan and South Korea have overtaken the semiconductor company in advanced chip making, and would-be Intel customers have backed away from projects. WSJ’s Asa Fitch unpacks the stakes of Intel’s comeback plan.
Further Reading:
- Once Mighty Intel Struggles to Escape ‘Mud Hole’
Further Listening:
- The $1 Trillion Company That Started at Denny’s
- America’s Answer to the Chips Shortage
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Chris Licht has stepped down as CEO of CNN, ending a short tenure that was marked by a series of missteps. WSJ’s Amol Sharma on what led to Licht’s departure and what is next for the network.
Further Reading:
- CNN CEO Chris Licht Is Out After Chaotic Year Atop News Network
- Top CNN Anchors Criticize CEO Chris Licht’s Leadership
Further Listening:
- The Shock Exit of CNN’s President
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The Securities and Exchange Commission filed lawsuits against Binance and Coinbase— two of the biggest crypto exchanges. WSJ’s Caitlin Ostroff discusses the allegations and the potential impact on the global crypto ecosystem.
Further Reading:
- SEC Says Binance Misused Customer Funds, Ran Illegal Crypto Exchange in U.S.
- SEC Sues Coinbase, Alleges It Is Unregistered Broker
Further Listening:
- The Rise of Binance - And The Effort to Reel It In
- The Charges Against FTX's Sam Bankman-Fried
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Today, Apple released its Vision Pro headset, the company’s first major new product launch in a decade. WSJ’s Joanna Stern on whether the augmented-reality headset has the potential to take a niche device for nerds into the mainstream.
Suggested Reading:
-Apple Releases Vision Pro Headset, First Major New Product in a Decade
-Apple Is Breaking Its Own Rules With a New Headset
Suggested Watching:
-Will the Apple Headset Blow Up?
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Artem Uss is a Kremlin-linked businessman accused of illegally exporting American military technology to Russia. Last October he was arrested in Italy at the U.S.’s request. Then he vanished. WSJ’s Margherita Stancati explains how he escaped.
Further Reading:
- How a High-Value Russian Wanted by the U.S. Escaped From Italy
Further Listening:
- A WSJ Reporter Arrested in Russia
- Russian Court Upholds WSJ Reporter’s Detention
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Only seven American companies have ever been worth a trillion dollars. Some came from garages. Others were started in college dorm rooms. Nvidia was born in a Denny's. WSJ's Asa Fitch on how the explosion of AI helped the chip maker become one of the most valuable companies in the world.
Further Reading:
- The $1 Trillion Company That Started at Denny’s
- The AI Boom Runs on Chips, but It Can’t Get Enough
- How AI Is Catapulting Nvidia Toward the $1 Trillion Club
Further Listening:
- America’s Answer to the Chip Shortage
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For years, Disney and Comcast have been locked in a battle over Hulu. Now, the streamer’s co-owners are trying to bring an end to their uneasy marriage. WSJ’s Jessica Toonkel unpacks the years of wrangling and the looming deal that could leave Disney with full ownership of Hulu.
Further Reading:
- Inside Disney and Comcast’s Fight Over the Future of Hulu
Further Listening:
- Does the Future of Streaming Look More Like Cable?
- The Disney Boss Who Wouldn’t Let It Go
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Over the past four years, Jay Gajavelli built a real-estate empire using funds from small investors who wanted to make passive income. Last year, Gajavelli’s company owned more than 7,000 apartments in the Houston area. Now he’s at the center of one of the biggest commercial real-estate blowups in years. WSJ’s Will Parker details what happened and what it says about the housing market going forward.
Further Reading:
- A Housing Bust Comes for Thousands of Small-Time Investors
Further Listening:
- How High Will Interest Rates Go?
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We’re off today, but we still have an episode for you!
Hidden records show that thousands of senior executive branch employees owned stocks in companies whose fates were affected by their employers’ actions. WSJ’s Brody Mullins and Rebecca Ballhaus take us inside the nearly year-long Wall Street Journal investigation. This episode originally aired in October 2022.
Further Reading:
-Government Officials Invest in Companies Their Agencies Oversee
-131 Federal Judges Broke the Law by Hearing Cases Where They Had a Financial Interest
-Congressional Staffers Gain From Trading in Stocks
Further Listening:
-The Federal Law that 138 Judges have broken
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When Kellie Castillo needed a place to live, she ended up at Wood Street, one of the largest homeless encampments in California. State authorities have spent the past several months shutting Wood Street down, leaving people like Kellie to figure out what’s next. WSJ’s Christine Mai-Duc describes what’s behind the state’s decision and what it means for the unhoused in California.
Further Reading:
- California Gov. Newsom Updates Plan to Fight State’s Homelessness Problem
- California’s Homelessness Problem Pits Gov. Gavin Newsom Against Mayors
Further Listening:
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Supreme is known for buzzy items, long lines and frenzied sell-outs. But lately, Supreme’s products are still available days after release. WSJ’s Jacob Gallagher discusses the brand’s rise and what’s changed.
Further Reading:
Further Listening:
- The Designer Who Made Streetwear Luxury
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In an interview at WSJ's CEO Council Summit with editor Thorold Barker, Elon Musk talked about whether he regrets buying Twitter, who might eventually take the helm of the three companies he runs and how AI will change our future.
Further Reading:
- Ron DeSantis to Launch 2024 Presidential Run in Twitter Talk With Elon Musk
- Elon Musk Wants to Challenge Google and Microsoft in AI
- The Elon Musk Doctrine: How the Billionaire Navigates the World Stage
Further Listening:
- Twitter’s New CEO: The Velvet Hammer
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After car theft videos went viral on social media, Hyundai and Kia have been reckoning with a surge in stolen vehicles. WSJ’s Sean McLain unpacks how the thefts started and how the companies are trying to address them.
Further Reading:
- Kia, Hyundai Thefts Continue Three Months After Carmakers Deployed Fix
- Cities Sue Hyundai, Kia After Wave of Car Thefts
- States Urge Recall of Millions of Kia, Hyundai Cars After Sharp Rise in Thefts
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The federal government uses debt to pay about a quarter of its bills and the federal borrowing limit is maxed out. WSJ’s Andrew Duehren explains the June 1st X-date (when the U.S. runs out of funds) and some catastrophic potential outcomes if Congress doesn’t raise or suspend the federal borrowing limit.
Further Reading:
- When Is the Debt Ceiling Deadline and What Happens if the Limit Isn’t Raised?
- Yellen Says Treasury Still Expects U.S. Could Default as Soon as June 1
- World Leaders Warily Watch U.S. Debt-Limit Standoff
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Companies continue to raise prices on everything from streaming services to handbags, sometimes at a rate that exceeds the pace of inflation. WSJ’s Suzanne Kapner and Greg Ip unpack why this is happening.
Further Reading:
- Pricing Power: This Is Kate Spade’s Hottest Bag…and It Costs $500
- We May Be Getting Used to High Inflation, and That’s Bad News
Further Listening:
- Why the Fed Raised Interest Rates Amidst a Banking Crisis
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The IRS will begin a pilot program next year to help some taxpayers fill out and file their income tax returns for free online. WSJ’s Richard Rubin on the government’s first steps towards building a competitor to TurboTax and H&R Block.
Further Reading:
- IRS Will Offer Free Online Tax Prep for Some Taxpayers in 2024
- TurboTax Settlement: How to Know If You Qualify for Part of the $141 Million Payout
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Starting in July, Connecticut will put $3200 into a trust account for each baby born to parents below a designated income level. As adults, the beneficiaries can use the money—plus investment returns—to help pay for education or a home. WSJ’s Brenda León discusses Baby Bonds and why they are gaining traction in other states too.
Further Reading:
- Could $3,200 ‘Baby Bonds’ Help End Poverty in America?
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After Cash App founder Bob Lee died in a stabbing, some were quick to blame San Francisco’s rising crime rates. But prosecutors say Lee knew his alleged killer. WSJ’s Kirsten Grind reports on an underground world of sex and drugs that was the backdrop to the killing that shocked the tech community.
Further Reading:
- Before His Killing, Tech Executive Bob Lee Led an Underground Life of Sex and Drugs
- Cash App Founder Bob Lee Fatally Stabbed in San Francisco
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Linda Yaccarino established herself as an advertising sales machine at NBCUniversal. On Friday, Elon Musk announced she’d be Twitter’s new CEO. WSJ’s Amol Sharma discusses some of the challenges Yaccarino will face at the revenue- starved social media platform.
Further Reading:
- Meet Linda Yaccarino, Elon Musk’s New Twitter CEO and the Ad World’s ‘Velvet Hammer’
Further Listening:
- Why Elon Musk's Twitter Is Losing Advertisers
- Elon Musk's 'Extremely Hardcore' Twitter
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The blockbuster Western drama about a ranching dynasty in Montana is one of the most popular shows on TV. But it’s also one of the most expensive. WSJ’s Erich Schwartzel explains how the man behind it — Taylor Sheridan — became one of the priciest bets in Hollywood.
Further Reading and Watching:
- Paramount Can’t Say No to the Man Behind ‘Yellowstone’: $50,000 a Week for His Ranch, $25 Per Cow
- Paramount Shares Drop 28% as Streaming Costs Mount
- The Race to Build the ‘Yellowstone’ Universe
Further Listening:
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Rep. George Santos has been accused of fabricating much of his life’s story to secure public office. On Wednesday he was indicted on 13 federal charges including fraud and money laundering. The New York Republican denies the charges and has pleaded not guilty. WSJ’s Jimmy Vielkind explains what the charges will mean for him.
Further Reading:
-George Santos Faces 13 Felony Charges, Including Fraud and Money Laundering
-George Santos Follows Others in Congress Who Have Confronted Legal Troubles
Further Listening:
-Why the Red Wave Didn’t Happen
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With tensions between the U.S. and China on the rise, the Chinese government has been investigating several consulting firms that help foreign companies do business in China. WSJ’s Dan Strumpf discusses the impact on the consulting sector and the foreign businesses that depend on it.
Further Reading:
- U.S. Companies in China Worry Due Diligence Will End in Spy Dramas
- China Spy Law Adds to Chilling Effect of Detentions
Further Listening:
- Are Apple and China Breaking Up?
- How a Balloon Burst U.S.-China Relations
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On Thursday, the pandemic-era border policy known as Title 42 is expected to end. First put in place by the Trump administration, Title 42 allows migrants to be quickly deported at the southern border without a chance to ask for asylum. Now, President Biden is planning to roll out a new immigration policy to take its place. But as WSJ’s Michelle Hackman explains, this new policy is not so different from the one it is replacing.
Further Reading:
- Biden’s New Immigration Policy Cements End of Liberal Asylum Rules
- What Is Title 42? What It Means for Immigration and U.S.-Mexico Border
Further Listening:
- What’s Driving Migrants to the Southern Border Now
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Last month, Dylan Mulvaney, a transgender influencer, posted on social media about a personalized can of Bud Light the brewer sent her as a gift. A boycott ensued. WSJ’s Jennifer Maloney unpacks what the maker of Bud Light is doing to stem a sharp drop in sales and to support front-line teams bearing the brunt of the backlash.
Further Reading:
-Bud Light Maker Compensates Workers Targeted in Dylan Mulvaney Backlash
-Bud Light Maker Offers Distributors Free Beer, More Ad Spending After Dylan Mulvaney Backlash
-How Bud Light Handled an Uproar Over a Promotion With Transgender Advocate
Further Listening:
-The Great Beer Battle of 2019
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For months, people with ADHD have been struggling to fill their prescriptions. Federal regulators say the shortage is fueled in part by increasing demand driven by telehealth startups and their aggressive marketing. WSJ’s Rolfe Winkler, who has been investigating two of those companies, explains what an impending rule change could mean for the shortage.
Further Reading:
- Adderall, OxyContin Prescriptions to Require In-Person Doctor Visit Under Biden Plan
- Startups Make It Easier to Get ADHD Drugs. That Made Some Workers Anxious.
Further Listening:
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Thousands of Hollywood writers went on strike this week after failing to reach a new contract with studios. The dispute was caused, in part, by the industry’s shift to streaming, which writers say has left them shortchanged. Michael Schur is co-creator of “Parks and Recreation” and was a writer for “The Office” and “Saturday Night Live.” He tells us what’s behind the first writers strike in over 15 years.
Further Reading and Watching:
- Hollywood Writers Strike Might Give Studios Chance to Slash Costs
- Late-Night Shows Go Dark Amid Writers Strike
Further Listening:
- Does the Future of Streaming Look More Like Cable?
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JPMorgan Chase CEO Jamie Dimon stepped in on Monday to acquire the failing First Republic Bank after it was seized by government regulators. While the deal will put an end to the recent series of bank failures, it also makes the banking industry's leader even more powerful. WSJ's Charles Forelle explains how Dimon's bid came together.
Further Reading:
-Why First Republic Bank Collapsed
-Jamie Dimon Wins Again in First Republic Bank Deal
Further Listening:
-Banking Troubles Are Not Over
-Two Executives On What It's Like to Stop a Bank Run
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Yevgeny Nuzhin was serving time for murder in a high-security Russian prison when the Wagner Group— a paramilitary organization employed by Russia to wage war on Ukraine— offered him freedom in exchange for six months of paid military service fighting for Russia in Ukraine. WSJ’s James Marson details how Nuzhin’s bid for freedom went gruesomely wrong.
Further Reading:
- The Grim Life and Brutal Death of a Wagner Recruit
Further Listening:
- ‘Putin's Chef’' Now Serving Up Gains for Russia in Ukraine
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This week, Disney sued Florida Governor Ron DeSantis accusing him of retaliating against the company, in part for speaking out against the state’s so-called “don’t say gay” law. It’s the latest twist in the fight between the two. WSJ’s Arian Campo-Flores explains what it means for both sides.
Further Reading:
- DeSantis’s Miscalculation: ‘Disney Is Playing the Long Game’
- Disney Sues Ron DeSantis After Oversight Board Voids Theme-Park Agreements
Further Listening:
- How Disney’s CEO Got Caught in Florida’s Fight Over Gay Rights
- Why Florida Is Fighting With Walt Disney World
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On Monday, Fox News ousted its top host, Tucker Carlson, less than a week after it settled a defamation lawsuit, which brought reams of internal communications to light. WSJ's Keach Hagey has exclusive reporting about the major factors that contributed to the network making that decision.
Further Reading:
- Fox News Ousts Tucker Carlson
- What Tucker Carlson’s Ouster Means for Him and Fox News
- Tucker Carlson’s Vulgar, Offensive Messages About Colleagues Helped Seal His Fate at Fox News
Further Listening:
- Dominion Voting Systems vs. Fox News
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Once the envy of the banking world, First Republic grew rapidly by catering to wealthy clients who wanted a high-touch service. But the bank’s highflying business came back to earth after the Federal Reserve began raising interest rates last year and customers started moving their money. WSJ’s Rachel Louise Ensign on why First Republic is now teetering on the brink.
Further Reading:
- First Republic Lost $100 Billion in Deposits in Banking Panic
Further Listening:
- Two Executives On What It’s Like to Stop a Bank Run
- Can the Government Contain a Banking Crisis?
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The U.S. only has a few months until it can no longer pay its bills. Republicans say they’ll only raise the debt ceiling if Democrats agree to aggressive spending cuts. WSJ’s Natalie Andrews explains the Republican proposal and what’s at stake for the economy.
Further Reading:
-Kevin McCarthy, House GOP Debt-Limit Plan Face Crucial Test This Week
-Kevin McCarthy Says House GOP Plans to Vote on Debt Limit, Spending Cuts
-U.S. Nears Debt Ceiling, Begins Extraordinary Measures to Avoid Default
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Bernard Arnault is the richest person in the world and he has spent decades preparing his five children to run his luxury-brand empire, LVMH. WSJ’s Nick Kostov learned Arnault drilled his kids in mathematics, brought them along on business trips, inside negotiations and has elevated them into senior roles. But the question remains: who will succeed Arnault at the helm of the world’s biggest luxury conglomerate?
Further Reading:
- The World’s Richest Person Auditions His Five Children to Run LVMH, the Luxury Empire
Further Listening:
- How a Deal to Buy Tiffany Lost Its Sparkle
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Jimmy Zhong appeared to have pulled off the perfect crime. In December 2012, he stumbled upon a software bug that allowed him to steal 50,000 bitcoins from a site on the dark web called the Silk Road. WSJ’s Robert McMillan explains how Zhong’s stolen crypto stayed hidden until investigators developed better ways to track down crypto criminals.
Further Reading:
- The U.S. Cracked a $3.4 Billion Crypto Heist — and Bitcoin’s Anonymity
Further Listening:
- How The Government Tied One Couple to Billions in Stolen Bitcoin
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In 2017 the FDIC created a pool of banking veterans who would step up to help in the event of another financial crisis. For years, no one needed them. That changed last month when Tim Mayopoulos and Greg Carmichael were called in to run Silicon Valley Bank and Signature Bank while the FDIC tried to stabilize a banking crisis.
Further Reading:
-Collapse of SVB, Signature Bank Tests the FDIC’s Executive Reserve Corps
-Help Wanted: Regulators Seek Executives to Staff Failed Banks
-Signature Bank Is Shut by Regulators After SVB Collapse
-Silicon Valley Bank Closed by Regulators, FDIC Takes Control
Further Listening:
-Can the Government Contain a Banking Crisis
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Dominion Voting Systems, which makes ballot machines, sued Fox News for $1.6 billion, claiming the cable network aired defamatory claims about its role in the 2020 election. Fox News denies wrongdoing. WSJ’s Erin Mulvaney explains what’s at stake as the highly anticipated trial is set to begin this week.
Further Reading:
- Fox News, Dominion Each Face Risks If Defamation Case Goes to Trial
- Documents From Fox Defamation Suit Spotlight Tension Between Prime-Time Hosts and News Personnel
- In Deposition, Rupert Murdoch Says Fox News Hosts Endorsed False 2020 Election Claims
Further Listening:
- A Voting Machine Company Fights Disinformation With Lawsuits
- Georgia's Secretary of State Defends the Election
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After 35 years, Broadway's longest-running show is taking a bow. The Phantom of the Opera has sold more than 20 million tickets and grossed around $1.3 billion. MarketWatch’s Charles Passy explains what made it one of Broadway’s biggest hits.
Further Reading:
-He’s Seen ‘The Phantom of the Opera’ 13,000 Times
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Federal investigators have arrested a 21-year-old Air National Guardsman in connection with the alleged leak of classified U.S. intelligence documents. WSJ’s Sadie Gurman discusses what we know about the documents, the arrest, and what could be next.
Further Reading:
-Air Guardsman Arrested in Connection With Leaked Documents
-U.S. Investigation Into Leak of Classified Pentagon Documents Focuses on Insiders
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When JPMorgan Chase paid $175 million to acquire Frank— a college financial planning startup— it touted big plans to connect with the company’s millions of users. Then it all went wrong. WSJ’s Melissa Korn recounts the story of what went wrong.
Further Reading:
- Frank Founder Faces Criminal Fraud Charges Over JPMorgan Deal
- Frank Founder Says JPMorgan Knew How Many Users Firm Had in $175 Million Deal
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For decades, Johnson & Johnson has faced thousands of lawsuits from customers who claim the company's baby powder gave them cancer. The company denies responsibility. WSJ's Andrew Scurria explains how Johnson & Johnson is resorting to a controversial legal maneuver to try to settle the lawsuits.
Further Reading:
-Johnson & Johnson Seeks $9 Billion Settlement of Talc Lawsuits
-J&J Sharpens the Texas Two-Step
Further listening:
-Two Days of Reckoning for Opioid Makers
-A Pause on the Johnson & Johnson Vaccine
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Rulings from two federal judges, one in Texas and one in Washington, paint a murky picture of the future of the abortion pill mifepristone. WSJ’s Laura Kusisto unpacks the legal battles with the Food and Drug Administration over the medication.
Further Reading:
- Texas Abortion-Pill Ruling Ignites New National Battle
Further Listening:
- The Supreme Court Overturns Roe v. Wade
- The Booming, Unregulated Marketplace for Abortion Pills
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Google has been developing large language models like chatbots for years, but it hasn’t used the technology to influence the way people use their all search function. That’s something that could be changing. WSJ’s Miles Kruppa sat down for an interview with Google CEO Sundar Pichai to talk about the way new AI could have a big impact of Google’s business.
Further Reading:
- Google CEO Sundar Pichai Says Search to Include Chat AI
- How Google Became Cautious of AI and Gave Microsoft an Opening
Further Listening:
- Why Google Is Behind in the AI Race
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Deforestation for palm oil production has shrunk Indonesia's rainforest, the third largest in the world and one of the most ecologically diverse places on the planet. But recently, the country has found a way to tame deforestation. WSJ's Jon Emont explains how government orders, consumer boycotts and environmental activism have helped slow the destruction of Indonesia's rainforest.
Further reading:
- Indonesia Shows It’s Possible to Tame Rainforest Destruction
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Jack Ma, the billionaire co-founder of Alibaba, all but disappeared from the public eye following a brush with Chinese regulators in 2020. But last week, Ma returned to China just as Alibaba announced plans to split into six independently run companies. WSJ’s Jing Yang explains what it all means.
Further Reading:
- Jack Ma Engineered Alibaba’s Breakup From Overse as
- Jack Ma’s Life After Alibaba Takes Him to a Fish Farm, Fiji and Beyond
- Alibaba Co-Founder Jack Ma Returns to China After a Year Away
Further Listening:
- Why the Biggest IPO Ever Blew Up
- Didi's IPO Gets Caught In China's Tech Crackdown
- Xi Jinping Is Rewriting the Rules of China's Economy
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Wall Street Journal reporter Evan Gershkovich was arrested in Russia last week and charged with espionage. The WSJ and U.S. officials deny the accusations. We spoke to our colleagues Joe Parkinson and Drew Hinshaw about working with Gershkovich, his reporting on Russia, and what's next.
Further Reading:
- On the Ground in Putin's Russia: Evan Gershkovich's Coverage of a Country at War
- Evan Gershkovich’s Arrest Marks a New Era of Hostage Diplomacy
- Evan Gershkovich Loved Russia, the Country That Turned on Him
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While TikTok is getting a lot of scrutiny in Washington, other Chinese apps are on the rise. Four of the five hottest apps in the U.S. in March are tied to Chinese companies. But as WSJ’s Shen Lu explains, some apps are now trying to distance themselves from their Chinese origins.
Further Reading:
- Why Chinese Apps Are the Favorites of Young Americans
- American Bargain Hunters Flock to a New Online Platform Forged in China
- Chinese Startups Try to Make It Big in the U.S.—but Without the Backlash
Further Listening:
- Exclusive: TikTok’s CEO on the App’s Future in the U.S.
- How TikTok Became the World’s Favorite App
- Shein Took Over Fast Fashion. Then Came the Backlash.
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Nearly 12 million women left their jobs due to pandemic disruptions. Many are finally coming back, three years on. WSJ's Lauren Weber explains how the pandemic has transformed what work looks like for many women, especially for mothers.
Further Reading:
- Women’s Return to the Workforce Piles Momentum on a Hot Economy
- Coronavirus Employment Shock Hits Women Harder Than Men
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Tech CEO Luke Iseman has an idea he wants to sell the world: A business plan to cool the Earth by dimming the amount of sunlight that hits the planet. As WSJ’s Eric Niiler explains, the principle behind the idea, geoengineering, is getting big investment but is also sparking serious scientific debate.
Further Reading:
- Mexico Bans Climate Startup’s Experiment to Cool the Earth
Further Listening:
- Banks’ Alliance to Fight Climate Change is on the Rocks
- Why an Arctic Treasure is Spurring Hope and Dread
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In November, Yale Law School pulled out of the U.S. News & World Report law-school rankings, saying the system was flawed. A wave of law, medical and undergraduate schools quickly followed. WSJ’s Melissa Korn reports on how the revolt was decades in the making.
Further Reading:
-The Unraveling of the U.S. News College Rankings
-Yale and Harvard Law Schools Abandon U.S. News Rankings
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After his TerraUSD cryptocurrency imploded, Do Kwon became one of the most wanted men in crypto. Last week, after a global manhunt, he was arrested at an airport in Montenegro. WSJ’s Alexander Osipovich tells the story of how Kwon went from being a major crypto player to facing fraud charges in several countries.
Further Reading:
- Do Kwon Arrested in Montenegro as U.S. Charges Crypto Fugitive With Fraud
- Cutting-Edge Crypto Coins Tout Stability. Critics Call Them Dangerous.
- Do Kwon’s Crypto Empire Fell in a $40 Billion Crash. He’s Got a New Coin For You.
Further Listening:
- The ‘Death Spiral’ of a Stablecoin
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For decades, the Robusta coffee bean has been the ugly duckling of the coffee world. Now, a new generation of coffee geeks think the time could be ripe for a Robusta revolution. WSJ’s Jon Emont explains why the humble bean is gaining momentum in the coffee industry.
Further Reading:
- The Underdog Coffee Bean That Java Snobs Hate Is Finally Getting Some Respect
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Over the past year the Federal Reserve has been steadily raising interest rates to try to bring down inflation. But the recent banking crisis has thrown a wrench into its plans. WSJ’s Nick Timiraos explains how the Fed is now trying to fight two problems at once.
Further Reading:
- Fed Raises Rates but Nods to Greater Uncertainty After Banking Stress
Further Listening:
- What Just Happened at Credit Suisse?
- Can the Government Contain a Banking Crisis?
- The Economy Is Too Hot for the Fed
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Former Chinese real-estate developer and outspoken China critic Guo Wengui was arrested by the FBI last week and accused of orchestrating a $1 billion fraud. WSJ’s Aruna Viswanatha unpacks Guo’s trek from Beijing gadfly to Steve Bannon confidant to fraud suspect.
Further Reading:
- A Chinese Businessman’s Trek From Beijing Gadfly to Steve Bannon Confidant to Fraud Suspect
- China’s Pursuit of Fugitive Businessman Guo Wengui Kicks Off Manhattan Caper Worthy of Spy Thriller
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While campaigning for president, Joe Biden said there would be no new oil drilling on federal land. But last week he approved the Willow project, one of the largest domestic oil projects in years. WSJ’s Andrew Restuccia explains why Biden made the shift.
Further Reading:
-Biden Administration Approves Willow Oil-Drilling Project in Alaskan Arctic
Further Listening:
-Why Biden Killed The Keystone XL Pipeline
-The War in Ukraine Hits American Gas Prices
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TikTok CEO Shou Zi Chew is due to testify before Congress this week, as the Biden administration demands that TikTok’s Chinese owners sell their stakes in the company or face a possible U.S. ban of the app. In this exclusive interview with WSJ’s Stu Woo, the TikTok CEO said a sale won’t solve Washington’s security concerns.
Further Reading:
- TikTok CEO’s Message to Washington: A Sale Won’t Solve Security Concerns
Further Listening:
- How TikTok Became the World’s Favorite App
- What’s Up With All the TikTok Bans?
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Google has been a pioneer in the modern era of artificial intelligence, but lately, it’s fallen behind. WSJ’s Miles Kruppa explains why the tech giant took a more cautious approach to chatbots and what’s at stake now that Microsoft has beaten them to market.
Further Reading:
-How Google Became Cautious of AI and Gave Microsoft an Opening
Further Listening:
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As fears about the health of global banks spread from the U.S. to Europe, the bank Credit Suisse said it would tap a more than $50 billion loan from the Swiss National Bank. WSJ’s Margot Patrick explains how Credit Suisse became a cause for concern.
Further Reading:
- Credit Suisse Stock Price Jumps as Bank Secures $50 Billion Lifeline
- Credit Suisse Promises Overhaul in Wake of Rout as Regulators Offer Lifeline
- Janet Yellen Says Banking System Is Healthy After SVB Collapse
Further Listening:
- Can the Government Contain a Banking Crisis?
- The Economy Is Too Hot for the Fed
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Since February of last year, the avian flu has led to the deaths of tens of millions of farm-raised birds in the U.S., the deadliest outbreak on record. WSJ’s Patrick Thomas on how the egg industry is getting slammed and what companies are doing to try to save their flocks.
Further Reading:
- America Is Losing the ‘Epic Battle’ Against Bird Flu
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WeightWatchers is buying digital health company Sequence to capitalize on the hot market for diabetes and weight loss drugs including Ozempic and Wegovy. WSJ's Andrea Petersen explains what this could mean for the wellness industry.
Further Reading:
-WeightWatchers Moves Into the Ozempic Market With Telehealth Deal
-How a Diabetes Drug Became the Talk of Hollywood, Tech and the Hamptons
-Health Startups Offer Diabetes Drugs Like Ozempic for Weight Loss With Little Oversight
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When Silicon Valley Bank imploded last week, it was the second biggest bank failure in U.S. history. Then, over the weekend, another bank, Signature Bank, was also taken over by the government. WSJ financial editor Charles Forelle explains what kicked off this banking crisis and how the government is scrambling to contain it.
Further Reading:
- How Silicon Valley Turned on Silicon Valley Bank
- Silicon Valley Bank Closed by Regulators, FDIC Takes Control
- Were SVB and Signature Bank Just Bailed Out by the U.S. Government?
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For years, fentanyl has flooded into the American drug market, driving a surge in overdose deaths across the country. Other drugs, like cocaine, are increasingly tainted with the synthetic opioid. We spoke to advocates Theo Krzywicki and Kalie Shorr who say a tiny test strip can help people avoid fentanyl, and WSJ's Julie Wernau explains why fentanyl is showing up everywhere.
Further Reading:
- Fentanyl Test Strips on the Dance Floor? Partygoers Face New Reality
- Three New Yorkers Ordered Cocaine From the Same Delivery Service. All Died From Fentanyl.
Further Listening:
- Purdue's $4.5 Billion Opioid Settlement Got Thrown Out. Now What?
- States Got Hooked on Tobacco Money. Are Opioids Next?
- Two Days of Reckoning for Opioid Makers
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Federal Reserve Chair Jerome Powell told Congress this week that interest rates could go up faster and higher than previously planned. WSJ’s Nick Timiraos explains what’s behind the Fed’s change of strategy, and why it’s struggling to tame inflation.
Further Reading:
- Powell Says Data Will Determine Size of Next Rate Increase
- Powell Says Fed Is Prepared to Speed Up Interest-Rate Rises
- Why the Recession Is Always Six Months Away
Further Listening:
- Mass Layoffs or Hiring Boom — Which Is It?
- Consumers Are Starting to Freak Out
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A new law in Tennessee makes staging adult cabaret anywhere a minor could see it a criminal offense. WSJ’s Laura Kusisto and Steve Raimo, who performs as drag queen Veronika Electronika, on what it could mean for the drag industry.
Further Reading:
-Tennessee Governor Signs Bill Restricting Transgender Healthcare for Minors
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AI-art generators let users create fantastical images with just a few text prompts. But some artists see a problem: They say AI is ripping them off. Artist Greg Rutkowski and WSJ tech columnist Christopher Mims explain what's at stake for the art world.
Further Reading:
- AI Tech Enables Industrial-Scale Intellectual-Property Theft, Say Critics
- Ask an AI Art Generator for Any Image. The Results Are Amazing—and Terrifying.
Further Listening:
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Three executives who formed Sam Bankman-Fried’s inner circle have now pleaded guilty to fraud charges and agreed to cooperate with prosecutors. WSJ’s Alexander Osipovich on what their plea deals could spell for the FTX founder.
Further Reading:
- Close Ally of FTX Founder Sam Bankman-Fried Pleads Guilty to Fraud
- How FTX’s Nishad Singh Turned to Crypto Crime
Further Listening:
- The Charges Against FTX’s Sam Bankman-Fried
- ‘Do You Expect to Go to Prison?’: An Interview With SBF
- The Fall of Crypto's Golden Boy
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Companies like BlackRock have promoted ESG investing in recent years. But WSJ’s Julie Bykowicz says a new conservative nonprofit is pushing lawmakers to ban ESG, equating it with "woke capitalism."
Further Reading:
- Conservatives Have a New Rallying Cry: Down With ESG
- New Conservative Group Gets $1.6 Billion Donation From Chicago Businessman
Further Listening:
- Can My Stock Portfolio Save the Planet?
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After Russia invaded Ukraine, Western nations hit Russia with massive sanctions. We talk to a resident in Moscow about how his life has changed and WSJ’s Georgi Kantchev on how Russia has responded to the sanctions.
Further Reading:
- Russian Deficit Soars to $25 Billion on War Spending, Oil Embargo
- Russia Boosts China Trade to Counter Western Sanctions
Further Listening:
- Three Ukrainians on Enduring a Year of War
- The Financial Punishment of Russia
- How Putin Has Planned For Sanctions
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President Biden’s plans to cancel $400 million in student loans are on hold. On Tuesday, the Supreme Court heard arguments on whether the administration had the legal authority to cancel the debt. WSJ’s Andrew Restuccia discusses the arguments for and against the program, and he explains what the decision could mean for borrowers.
Further Reading:
- Student-Loan Borrowers Likely Won’t Know for Months if Debt Will Be Forgiven
- Supreme Court’s Student-Loan Case Will Test Limits of Presidential Power
Further Listening:
- Breaking Down Student Debt Relief
- How Biden Plans to Tackle Student Debt
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The Commerce Department is spelling out its plans to subsidize domestic chip production in order to secure the supply of advanced chips needed for America's modern weapons systems. WSJ’s Yuka Hayashi explains the national security interests in play.
Further Reading:
-Chips Act Is Bounty for Semiconductor Companies—With Many Strings Attached
-Pentagon to Reap Rewards From $53 Billion Chips Act
-Chips Act Will Test Whether U.S. Can Reverse Semiconductor Exodus
Further Listening:
-What's Wrong With the Car Market?
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Earlier this month, a Norfolk Southern train carrying toxic chemicals derailed in Ohio. Concerned about an explosion, authorities evacuated residents and carried out a controlled burn of toxic fumes. Now a report has found the cause of the derailment, but residents say they still have unanswered questions about the environmental impacts. WSJ's Kris Maher reports from East Palestine and Esther Fung discusses what this might mean for the rail industry.
Further Reading:
- What Happened in the Ohio Train Derailment?
- Ohio Train Derailment: Toxic Chemicals and Distrust Remain in East Palestine
- Train-Car Wheel Bearing Overheated Before Ohio Train Derailment, NTSB Finds
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Russia’s war in Ukraine has upended the lives of millions of people. One year into the conflict, we check in with some of the people we have spoken with over the last twelve months to see how their lives have changed.
Further Listening:
- Russia’s Campaign to Leave Ukraine in the Dark
- One Ukrainian Factory Owner Joins the War Effort
- As Russia Invades, Ukrainians Weigh Fight or Flight
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Bitcoin, the nearly $500 billion cryptocurrency, isn't controlled by any one person or company. But there are five mysterious coders that keep it all running. WSJ's Paul Kiernan reports on the "maintainers" behind bitcoin.
Further Reading:
- Bitcoin’s Future Depends on a Handful of Mysterious Coders
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Almost 30 years ago, Anthony Ayers spotted a dusty, wood-panel painting tucked behind an armoire in an antique shop. Over the decades, he and the group of people that helped him buy it have been on a quest to prove it was painted by Renaissance artist Raphael. WSJ’s Kelly Crow reports on a possible break in the case and the technology that brought it about.
Further Reading:
- Is This Painting a Raphael or Not? A Fortune Rides on the Answer
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After new deadly earthquakes hit Turkey and Syria this week, the death toll this month has surpassed 45,000. WSJ’s Sune Engel Rasmussen tells the story of a youth volleyball team that traveled to Turkey earlier this month and how the country’s spotty building codes may have played a role in their tragic fate.
Further Reading:
- A Cypriot High School Volleyball Team Lost 25 Children in the Turkey Quakes
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We’re off today for the holiday, but we still have an episode for you!
In only five years, TikTok has gained millions of fans around the world and become a source of geopolitical tension between the U.S. and China. We spoke to people who witnessed the app’s meteoric rise firsthand: influencers, former workers, and a government official who is concerned about TikTok’s data practices. This episode originally aired in November 2022.
Further Reading:
-TikTok’s Stratospheric Rise: An Oral History
Further Listening:
-Why TikTok’s Under Investigation
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Major layoffs keep making headlines, yet the U.S. is still seeing record low unemployment. WSJ’s Ray A. Smith dives into the mystery in the job market.
Further Reading:
- Mass Layoffs or Hiring Boom? What’s Actually Happening in the Jobs Market
Further Listening:
- The New Layoff: On a Wednesday On Zoom
- What Will the Economy Look Like in 2023?
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What happens when an activist investor sets his sights on one of the biggest media companies in the world? WSJ’s Robbie Whelan on the proxy battle that rattled Disney.
Further Reading:
- How Nelson Peltz and Disney’s Marvel Chief Teamed Up in Proxy Fight
Further Listening:
- The Disney Boss Who Wouldn’t Let It Go
- Why Florida Is Fighting With Walt Disney World
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CVS’s plan to buy Oak Street Health, a network of senior-focused clinics, is the latest sign of the growing tie-ups between health insurers and primary-care doctors. WSJ’s Anna Wilde Mathews unpacks why the deal is happening and how it’s cementing CVS’s status as a healthcare giant.
Further Reading:
- CVS Reaches $10.6 Billion Deal to Buy Clinic Owner Oak Street Health
- CVS Looks to Add Doctors to Its Payroll
- CVS Completes $70 Billion Acquisition of Aetna
Further Listening:
- Is Healthcare Amazon's Next Big Thing?
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How much are you willing to pay for love? Dating apps are asking users to pay more for features and access to matches as a way to counter slowing growth. WSJ's Heard on the Street columnist Laura Forman talks about the pressure on Match Group, the company behind some of the most popular dating apps.
Further Reading and Watching:
- The Price Is Wrong In Online Dating
- Why Our Love Affair With Tinder Might Never Quite End
- Online Dating Is Great—for Investors. For Customers, It’s Complicated.
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In just over a week, the U.S. has shot down four flying objects — one from China and three others of unknown origins. WSJ’s James T. Areddy on balloons, unidentified flying objects and the deterioration of relations between the two countries.
Further Reading:
-China’s Balloon Program Grew From a Humble Start
-How a Balloon Opened a New Flashpoint in U.S.-China Ties
-China Says U.S. Flew Balloons Through Its Airspace More Than 10 Times
Further Listening:
-China’s Accidental Dissidents
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Days after Russia invaded Ukraine, a corpse turned up on a sidewalk in the center of Kyiv. The dead man, a 45-year-old banker named Denys Kiryeyev, was accused of being a traitor and a Russian spy. But as WSJ’s Brett Forrest reports, his work and allegiances were more complicated than they seemed.
Further Reading:
- Russian Spy or Ukrainian Hero? The Strange Death of Denys Kiryeyev
Further Listening:
- Ukrainian President Zelensky's Fight Against Corruption
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After decades of patent protection, the wildly successful arthritis and autoimmune drug Humira is finally facing competition. WSJ’s Jared Hopkins on what that could mean for patients and the drug industry.
Further Reading:
- Blockbuster Arthritis Drug Humira Faces Competition From First Lower-Price Copycat in U.S.
- AbbVie Aims for New Drugs to Boost Sales as Competitors Target Humira
Further Listening:
- How Big Pharma Lost Its Swagger
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For more than a decade, the British government has run its National Health Service, the world’s largest government-run healthcare system, on a tight budget. Now, hospitals are so full they are turning patients away, and thousands of paramedics and nurses have walked out over pay. WSJ’s Max Colchester explains how budget cuts, Covid delays and an aging population are stressing the system.
Further Reading:
-The U.K.’s Government-Run Healthcare Service Is in Crisis
-U.K. Nurses Stage Biggest Ever Strike as Health System Strains
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Consumer spending accounts for roughly 70% of the economy. So when it slows, the U.S. economy risks a recession. Right now, U.S. consumers are spending less on groceries, travel and dining, breaking into their savings accounts, and putting more on their credit cards. To understand why consumers are pulling back, we sat down with one.
Further Reading:
- The U.S. Consumer Is Starting to Freak Out
- Households Burn Through What’s Left of Their Pandemic Savings
Further Listening:
- What Walmart’s Aisles Say About the American Consumer
- The New Layoff: On a Wednesday On Zoom
- What Will the Economy Look Like in 2023?
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Gautam Adani is ubiquitous in India. His energy and infrastructure conglomerate, the Adani Group, touches the lives of millions of Indians on a daily basis. But last month, Hindenburg Research, a U.S. short seller, alleged that the company was engaged in wide-ranging fraud. WSJ’s Shan Li explains a fallout that has cost Adani billions.
Further Reading:
- How Gautam Adani Made (and Could Lose) a $147 Billion Fortune
- Adani Plans $1.1 Billion Loan Repayment After Share Collateral Plummets
Further Listening:
- The Firm Tanking Some of Wall Street's Hottest Stocks
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Cao Zhixin and her friends went to a rally to honor people who died in a fire. Several weeks later, they were detained by Chinese authorities and now face years in prison. WSJ's Shen Lu explains why Beijing is cracking down on a new kind of protester.
Further Reading:
- In China, Young Women Become Accidental Symbols of Defiance
- Under Xi Jinping, Women in China Have Given Up Gains
- The Exposure of China’s ‘Bought Wives’
Further Listening:
- China’s Biggest Protests in Decades
- What the End of Zero-Covid Means for China
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Russia’s invasion forces have tightened the noose around Bakhmut in eastern Ukraine with help from a paramilitary outfit called the Wagner Group. Heading the group is one of Russian President Vladimir Putin’s close confidants -- Yevgeny Prigozhin. WSJ’s Benoit Faucon explains why the Wagner Group has been drawing condemnation for its deployments in several global hotspots.
Further Reading and Watching:
- Wagner: How Russian Mercenaries Help Putin in Ukraine
- Russia Tightens Grip Around Bakhmut as Ukraine Awaits Western Tanks
- As Russian Army Falters in Ukraine, Paramilitary Leader Close to Putin Flexes Power
- Russia Leans on Mercenary Forces to Regain Global Clout
Further Listening:
- Russia’s Campaign to Leave Ukraine in the Dark
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For years, the U.S. government went after hackers by trying to arrest them. Now, they’re trying a new approach. WSJ’s Robert McMillan tells the story of how one of the world’s most infamous hacking groups, called Hive, got busted.
Further Reading:
- FBI Disrupts ‘Hive’ Ransomware Group
Further Listening:
- Why a Ransomware Group Is Pretending to Be a Real Company
- Ransomware, a Pipeline and a Gas Shortage
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Ukrainian President Volodymyr Zelensky was originally elected on an anti-corruption platform. Over the last two weeks, he has removed nearly a dozen top officials. WSJ’s James Marson explains why Zelensky is trying to shore up Western confidence in his administration at a crucial moment in the war.
Further Reading:
-Ukraine’s Zelensky Removes Top Officials in Bid to Contain Corruption Scandals
-Ukraine’s Zelensky Urges Faster Weapons Deliveries Amid Russian Push
Further Listening:
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North of the Arctic Circle, a Swedish mining company says it has located a coveted resource: Europe’s biggest cache of rare-earth minerals, elements used for making electronics and green technology. The deposit could be a blessing for the West, but WSJ’s Kim Mackrael explains that for Sweden’s indigenous Sami people, it also puts hundreds of years of tradition in peril.
Further Reading:
- Rare-Earth Find in Sweden Lifts Hope for Shift Toward Clean Energy
Further Listening:
- Diving Deep for Battery Metals
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South Africa’s state-owned power company, Eskom, is struggling to keep the lights on in the country and is now looking for a new leader after its current CEO was poisoned. WSJ’s Alexandra Wexler on the difficult job of running Eskom.
Further Reading:
- South Africa Seeks State Power Chief After CEO Says He Was Poisoned
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The Department of Justice is seeking to break up part of Google’s digital advertising business. In a lawsuit filed Tuesday, the government says the tech giant has taken actions that ‘severely weaken, if not destroy competition in the ad tech industry.’ Google says the lawsuit is an attempt to pick winners and losers. WSJ’s Miles Kruppa discusses the DOJ’s case and the moves Google made to become a giant in the online advertising space.
Further Reading:
- DOJ Sues Google, Seeking to Break Up Online Advertising Business
- Google Prepares for Second Antitrust Battle as DOJ Targets Its Ads Business
Further Listening:
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Over the last year, fashion company Stitch Fix has lost 95% of its value as the company's attempts to expand beyond subscriptions floundered. WSJ columnist Laura Forman says the decline of Stitch Fix holds broader lessons for tech companies.
Further Reading:
- Stitch Fix’s Unraveling Should Sow Broader Tech Doubts
Further Listening:
- Shein Took Over Fast Fashion. Then Came the Backlash.
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Tesla cut prices for some of its vehicles sold in the U.S. by nearly 20% earlier this month. WSJ’s Nora Eckert on what’s behind the price drop and what it means for the EV market.
Further Reading:
-Tesla’s Price Cuts Are Roiling the Car Market
-What if Tesla Is…Just a Car Company?
Further Listening:
-Will Americans Buy an Electric Truck?
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On Friday, FBI investigators found more classified documents at President Joe Biden’s Delaware home. This is the latest in a series of searches that turned up classified material at a number of Biden's offices and homes. WSJ’s Annie Linskey discusses the search, and what it could mean for Biden’s presidency.
Further Reading:
- String of Classified Document Discoveries Seen Tarnishing White House
- More Classified Documents Found at President Biden’s Delaware Home
Further Listening:
- Why FBI Agents Searched Mar-a-Lago
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A month after China scrapped most of its zero-Covid restrictions, Omicron has spread rapidly. WSJ’s Brian Spegele explains that while some people are able to resume life as normal, infections have skyrocketed and medical facilities are stretched to their limits.
Further Reading:
- China’s Precarious Moment: Covid Everywhere and Few Restrictions
- China Confronts First Lunar New Year Since Covid Lockdowns Ended
- China’s Young Protesters Wrestle With How Far to Push: ‘We Don’t Want Covid Tests, We Want Freedom’
Further Listening:
- China's Biggest Protests in Decades
- How Xi Jinping's Dream Slowed China's Economy
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After the collapse of FTX, WSJ Reporter Eliot Brown wanted to find out where all the money went. He was surprised to discover that the biggest investment had been in a bitcoin mining company based in Kazakhstan.
Further Reading:
- Sam Bankman-Fried’s Supersized Bet: $1 Billion For A Bitcoin Miner On The Kazakh Steppe
- FTX Says It Has Located More Than $5 Billion in Cash, Liquid Assets
Further Listening:
- The Charges Against FTX's Sam Bankman-Fried
- ‘Do You Expect to Go to Prison?’: An Interview With SBF
- What’s Russia Doing in Kazakhstan?
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Microsoft CEO Satya Nadella speaks with WSJ Editor in Chief Matt Murray at the World Economic Forum in Davos, Switzerland, about the company’s artificial-intelligence ambitions and how tools like OpenAI’s ChatGPT could revolutionize the way we work.
Further Reading and Watching:
- Microsoft CEO Talks AI Integration and Leadership at Davos
- Microsoft to Lay Off 10,000 Workers as Slowdown Hits Software Business
Further Listening:
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ChatGPT was released only a few months ago but the artificial intelligence chatbot has already taken the internet by storm. WSJ’s Berber Jin tells the story of the company behind ChatGPT and how the world is responding to this technology.
Further Reading:
-The Backstory of ChatGPT Creator OpenAI
-ChatGPT Creator Is Talking to Investors About Selling Shares at $29 Billion Valuation
-Microsoft Plans to Build OpenAI, ChatGPT Features Into All Products
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The Federal Trade Commission wants to ban noncompete clauses in employment contracts. WSJ's Lauren Weber explains what these clauses are, the surprising number of workers they might affect, and how businesses are reacting.
Further Reading:
- Noncompete Clauses: What They Are and What to Know Before Signing Your Contract
- FTC Proposes Banning Noncompete Clauses for Workers
- The Noncompete Clause Gets a Closer Look
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When a new Miss Universe is crowned this Saturday, she will be the first winner under new pageant owner Anne Jakrajutatip, a Thai businesswoman and transgender advocate. We talk to Jakrajutatip about her views on beauty and how she wants to transform the pageant.
Further Reading:
- Miss Universe Bought by Thai Businesswoman for $20 Million
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Wednesday or Friday? In-person or via Zoom? As dozens of companies undergo layoffs, human resource executives are grappling with a lot of questions about how to let employees go and avoid public blowback. WSJ’s Chip Cutter walks us through the do’s and don’ts of layoffs.
Further Reading:
- The Debate Swirling Inside HR Departments: How to Lay Off Workers
Further Listening:
- What Will the Economy Look Like in 2023?
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Brazil is reeling after supporters of former right-wing president Jair Bolsonaro forced their way into several government buildings on Sunday. Many protesters called for military intervention to oust the newly-inaugurated leftist president, Luiz Inácio Lula da Silva. WSJ’s Luciana Magalhaes explains how the protests could undermine da Silva’s agenda.
Further Reading:
-Brazil Riots: The Aftermath of Pro-Bolsonaro Protests
-Brazilian Investigators Home In on Suspects in Riot Financing
-Brazilian Authorities Detain 1,500 Protesters Involved in Riot
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Silvergate went from a small real-estate bank to the bank of choice for the crypto world’s big players. Then it experienced a historic bank run. WSJ’s David Benoit explains why customers pulled their money from crypto’s top bank.
Further Reading:
- Silvergate Raced to Cover $8.1 Billion in Withdrawals During Crypto Meltdown
Further Listening:
- The Charges Against FTX's Sam Bankman-Fried
- ‘Do You Expect to Go to Prison?’: An Interview With SBF
- How Crypto Giant FTX Suddenly Imploded
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Recently, a slew of states and even the federal government have banned the Chinese-owned social media app TikTok from government-issued devices, citing national security concerns. WSJ's Stu Woo explains what's going on.
Further Reading:
- TikTok Wins a Vote in South Dakota
- TikTok Ban Debate Moves From Washington to Main Street
- TikTok Security Dilemma Revives Push for U.S. Control
Further Listening:
- How TikTok Became the World’s Favorite App
- Teens Are Developing Tics. Doctors Say TikTok May Be a Factor.
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For days, the House of Representatives has been at a standstill. A group of conservative lawmakers continues to block Rep. Kevin McCarthy's path to become Speaker of the House. WSJ’s Natalie Andrews explains why some Republicans opposed McCarthy, and what it could take for them to be swayed.
Further Reading:
-Full Coverage of the Speaker Vote
Further Listening:
-Why the Red Wave Didn’t Happen
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Severe winter weather impacted a lot of airlines this holiday season. But only one canceled more than 70% of its flights: Southwest. WSJ’s Alison Sider explains how the airline found itself at the center of one of the worst travel breakdowns in years.
Further Reading:
-How Southwest Airlines Melted Down
-Southwest Says It Maintains Normal Schedule as Airline Processes Bags, Refunds
-Southwest Airlines Cancellations Continue
Further Listening:
-While Airlines Shrink, Southwest Goes Big
-How One Airline Sees the Future of Flying
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Last year, inflation hit a 40-year high, dealing a big blow to many consumers. On the other hand, unemployment was low and many workers saw wage gains. WSJ reporters Gwynn Guilford and Rachel Wolfe unpack the confusing currents in the 2022 economy and what to expect this year.
Further Reading:
- Inflation Takes Biggest Bite From Middle-Income Households
- Baking Supplies Cost a Lot More This Year. But That Flat-Screen TV Got Cheaper.
- Big Banks Predict Recession, Fed Pivot in 2023
Further Listening:
- How High Will Interest Rates Go?
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We’re taking a break until 2023. Ryan and Kate and the rest of the team wish you happy holidays as we bring back this Christmas classic.
In 1994, Mariah Carey released “All I Want for Christmas is You” to moderate success. Today, the song is a megahit. What happened? WSJ’s John Jurgensen called up the “Queen of Christmas” to find out.
This episode was originally published on December 11, 2020.
The Journal will return Tuesday, January 3rd, 2023.
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Two years after launching, Cerebral had become a star in the telemedicine business space. The company had attracted tens of thousands of patients and was valued at close to $5 billion. CEO Kyle Robertson had big plans for the startup, but this spring, those plans started to crumble. WSJ’s Rolfe Winkler and Khadeeja Safdar started reporting on Cerebral. Their reporting would lead to federal investigations and major changes for the company.
Further Reading:
- The Failed Promise of Online Mental-Health Treatment
Further Listening:
- The Journal: Uncontrolled Substances, Part 1: Subscribe and Prescribe
- The Journal: Uncontrolled Substances, Part 2: Adderall
- The Journal: Uncontrolled Substances, Part 3: Anthony
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Anthony Kroll was 17 years old. Too young to have been a Cerebral patient, according to company policy. Too young to get mental-health treatment without his parents’ consent in his home state of Missouri. So how did a minor end up getting a prescription for an antidepressant that required an explicit warning for young adults? What was Cerebral treating him for? And why weren’t Anthony’s parents informed? In Part 3 of Uncontrolled Substances, WSJ reporter Khadeeja Safdar investigates what happened to Anthony Kroll.
Further Reading:
- Cerebral Treated a 17-Year-Old Without His Parents’ Consent. They Found Out the Day He Died.
Further Listening:
- The Journal: Uncontrolled Substances, Part 1: Subscribe and Prescribe
- The Journal: Uncontrolled Substances, Part 2: Adderall
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When Illinois legalized recreational marijuana, the state wanted to create a more diverse cannabis industry. But three years on, only a handful of Black and minority entrepreneurs have been able to open businesses. WSJ reporter Vipal Monga explains why and we hear from one entrepreneur who is hoping to open his dispensary in Chicago after years of setbacks.
Further Reading:
- Efforts to Make Legal Cannabis Industry Equitable Are Falling Flat
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When Bob Iger stepped down as CEO of the Walt Disney Company, he continued to wield influence as executive chairman. His successor in the corner office, Bob Chapek, begrudged Iger’s active role. WSJ’s Joe Flint explains how tensions mounted between the two men and led to a corporate coup that shook Hollywood.
Further Reading:
-Bob Iger vs. Bob Chapek: Inside the Disney Coup
Further Listening:
-How Disney’s CEO Got Caught in Florida’s Fight Over Gay Rights
-Why Florida is Fighting with Walt Disney World
-Disney CEO Bob Chapek on Whether the Company Is “Too Woke”
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After some early struggles, Cerebral hit on a lucrative new avenue for growth: prescribing controlled substances. WSJ’s Rolfe Winkler investigates how one tightly regulated medicine – Adderall – became crucial to Cerebral’s business. Some former employees take us inside the move into controlled substances and describe feeling pressured by the company to prescribe regulated medications. Cerebral denies pressuring employees and says it has helped many people get access to much-needed care.
Further Reading:
- Startup Cerebral Soared on Easy Adderall Prescriptions. That Was Its Undoing.
- Startups Make It Easier to Get ADHD Drugs. That Made Some Workers Anxious.
Further Listening:
- The Journal: Uncontrolled Substances, Part 1: Subscribe and Prescribe
- Science Vs: Adderall: What's It Doing to Your Brain?
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Elon Musk has been changing Twitter’s rules about speech and safety since he took over the company. WSJ’s Alexa Corse explains how Twitter's content moderation has evolved since the acquisition.
Further Reading:
-Elon Musk’s Twitter Barbs Have New Magnitude
-Twitter’s New Head of Trust and Safety Says Platform Wants to Move Quickly
-Twitter Suspends Accounts Sharing Live Locations, Including the Tracker of Elon Musk’s Private Jet
Further Listening:
-Elon Musk's 'Extremely Hardcore' Twitter
-Why Elon Musk's Twitter Is Losing Advertisers
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About a month after his crypto exchange firm FTX collapsed, Sam Bankman-Fried has been arrested. Federal prosecutors have charged the self-appointed crypto savior with eight counts of fraud and conspiracy, and two regulatory agencies are suing him. WSJ’s Alexander Osipovich unpacks the charges.
Further Reading:
- FTX’s Sam Bankman-Fried Charged With Criminal Fraud, Conspiracy
- Former FTX CEO Sam Bankman-Fried Arrested in Bahamas
Further Listening:
- ‘Do You Expect to Go to Prison?’: An Interview With SBF
- The Fall of Crypto’s Golden Boy
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Cerebral is a startup that set out to provide access to mental-health services and wound up under federal investigation. WSJ's Rolfe Winkler and Khadeeja Safdar take us back to the origins of the company, exploring the ideas that laid the foundation for explosive growth.
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Elon Musk’s Boring Company hasn’t done much to alleviate “soul-destroying traffic” despite its initial promises to several cities. We talk with WSJ’s Ted Mann about what's behind Boring's poor track record and with a transportation official in California about what Musk promised her county.
Further Reading:
-Elon Musk’s Boring Company Ghosts Cities Across America
Further Listening:
-Why Elon Musk’s Twitter Is Losing Advertisers
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In September, 22-year-old Mahsa Amini died in the custody of the morality police, who arrested her for allegedly violating Iran’s dress code. Afterwards, protests erupted across the country. WSJ’s Sune Rasmussen explains how the death of one woman has led to calls to overthrow the government.
Further Reading and Watching:
-Iran Protesters Seek End of an Islamic Republic Pillar—the Morality Police
-Iran Disbands Morality Police, Considers Changing Hijab Laws, Official Says
-Iran’s Shopkeepers Strike in Support of Protest Movement
Further Listening:
-Iran's Secret System to Avoid Sanctions
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Sam Bankman-Fried is the founder and ex-CEO of FTX, the crypto exchange that recently filed for bankruptcy. WSJ reporter Alexander Osipovich sat down with him to talk about what happened and how $8 billion of customer money went missing.
Further Reading:
-FTX Founder Sam Bankman-Fried Says He Can’t Account for Billions Sent to Alameda
Further Listening:
-The Fall of Crypto’s Golden Boy
-How Crypto Giant FTX Suddenly Imploded
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Cerebral was a buzzy Silicon Valley startup that set out to transform mental-health services in the U.S. In just a couple of years, the company attracted thousands of patients, raised hundreds of millions of dollars and partnered with star Olympic gymnast Simone Biles. But some people who worked at Cerebral say that, along the way, the company's focus on growth interfered with patient care. And now, Cerebral is under federal investigation. Cerebral says it provided high-quality care to thousands of patients who might not otherwise have had access.
In a new four-part series, WSJ's Rolfe Winkler and Khadeeja Safdar take us inside Cerebral. We'll meet some former staff who are part of Cerebral’s story, and explore the company's origins and explosive growth, as well as the consequences of that growth.
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Major freight railroads and unions have been locked in a labor dispute for years. But last Friday, President Biden signed a bill passed by Congress forcing a deal onto both parties. We talk to WSJ’s Esther Fung about why a rail strike would have been devastating, and a railroad signalman lays out what the deal means for him.
Further Reading:
-A Potential Rail Strike Looms. Here’s What to Know.
-Biden Signs Legislation Preventing Railroad Strike
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Former Chinese president Jiang Zemin died this week at 96. As WSJ’s Charles Hutzler explains, Jiang was known for policies that guided China towards a market-oriented economy, but also for being uncompromising on challenges to the Communist Party.
Further Reading:
-Jiang Zemin, Who Steered China Into New Era, Dies at 96
Further Listening:
-China’s Biggest Protests in Decades
-How Xi Jinping’s Dream Slowed China’s Economy
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Dr. Anthony Fauci - the U.S. Chief Medical Advisor - is retiring after more than 50 years of government service. We speak to him about the biggest challenges in his career and if he believes Covid is behind us.
Further Reading
-Anthony Fauci to Step Down After More Than 50 Years of Government Service
Further Listening
-Dr. Anthony Fauci on Omicron and the Covid-19 Stalemate
-Anthony Fauci: Delta Variant Has 'Exposed Our Vulnerability'
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Beyond Meat, the maker of plant-based meat alternatives, has been a darling of the food startup world. In 2019, it had one of the most successful initial public offerings by a major company in more than two decades. But now sales are down, its stock is slumping and its workforce is shrinking, WSJ's Jesse Newman unpacks Beyond's problems.
Further Reading:
-Beyond Meat’s Very Real Problems: Slumping Sausages, Mounting Losses
-Beyond Meat Reports Weak Sales and Mounting Losses
Further Listening:
-Oatly Pioneered Oat Milk. Now It’s Struggling to Keep Up.
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After years of strict Covid restrictions, people are taking to the streets in cities across China. But they’re not just protesting zero-Covid, they’re voicing displeasure with Xi Jinping himself. WSJ’s Brian Spegele gives us an inside view of the protests rocking China.
Further Reading:
-China’s Surveillance State Pushes Deeper Into Citizens’ Lives
-Much of China Locks Down With No End to Zero Covid in Sight
-Chinese Protests Spread Over Government’s Covid Restrictions
Further Listening:
-How Xi Jinping's Dream Slowed China's Economy
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In recent months, Russia has ramped up its use of drones in its war on Ukraine. As Ukrainian analysts have begun dissecting some of the unmanned aircraft, they’ve uncovered a complex web of suppliers. WSJ’s Ian Talley explains.
Further Reading:
-Ukrainian Analysis Identifies Western Supply Chain Behind Iran’s Drones
-Iran Acknowledges Supplying Drones to Russia
Further Listening:
-Iran’s Secret System to Avoid Sanctions
-Ukraine Makes a Deal with Wall Street
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Since Elon Musk bought Twitter four weeks ago, thousands of employees have been laid off, fired or decided to leave the company. WSJ's Alexa Corse explains what the company's leaner staff could mean for the platform.
Further Reading:
-Elon Musk Tells Twitter Staff to Work ‘Long Hours at High Intensity’ or Leave
-Twitter’s Mass Resignations Test Elon Musk’s Management Playbook
-Twitter Lays Off Some Sales Employees After They Committed to Twitter 2.0
Further Listening:
-Why Elon Musk’s Twitter Is Losing Advertisers
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Inflation is driving American consumers to pinch pennies, and Walmart is taking note. The retailing giant says its customers are increasingly price-conscious. WSJ's Sarah Nassauer says to keep prices low, Walmart is flexing its muscles with suppliers.
Further Reading:
-Walmart Sales Rise as Retail Giant Gains Shoppers
-Walmart Is Flexing Its Muscle Again
-Holiday Sales Growth Expected to Slow This Year
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One of the biggest sports events of the year began yesterday in Qatar, but there have been a lot of bumps along the way. From the abuse of stadium construction workers to a ban on beer – WSJ's Joshua Robinson on the controversies surrounding Qatar’s World Cup.
Further Reading:
-World Cup Brings Two Million Visitors and an Epic Culture Clash to Qatar
-Qatar Wanted to Host the World Cup. First It Needed a Soccer Team.
Further Listening:
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Millions of Taylor Swift fans tried unsuccessfully to buy advance tickets for her Eras Tour, Swift’s first in five years. And after overwhelming demand throttled Ticketmaster’s website, a public sale of tickets has been called off. WSJ's Anne Steele explains what happened and why Ticketmaster is getting heat.
Further Reading:
-Taylor Swift Says It Was ‘Excruciating’ to Watch Ticketmaster Debacle
-Taylor Swift Cancels Ticket Sale After Earlier Glitches
-Taylor Swift’s Concert Ticket Sales Plagued by Ticketmaster Delays
Further Listening:
-Taylor Swift’s Push to Change Music Ownership
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For decades, investing in a mix of stocks and bonds was one of the safest ways to save for retirement. But this year, that strategy has stopped working. WSJ’s Akane Otani breaks down the unique market conditions of today’s economy that are causing so much pain for retirees.
Further Reading:
-The Classic 60-40 Investment Strategy Falls Apart. ‘There’s No Place to Hide.’
Further Listening:
-How High Will Interest Rates Go?
-Will There Be a Recession? America’s Top Bankers Weigh In
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Until last week, FTX founder Sam Bankman-Fried was the face of crypto. Admirers saw him as an approachable, friendly billionaire eager to deploy his wealth for good. Then his crypto empire imploded, leaving hundreds of thousands of investors’ assets in doubt. WSJ’s Greg Zuckerman profiles the man behind FTX.
Further Reading:
-How FTX’s Sam Bankman-Fried Went From Crypto Golden Boy to Villain
-FTX Tapped Into Customer Accounts to Fund Risky Bets, Setting Up Its Downfall
-Alameda, FTX Executives Are Said to Have Known FTX Was Using Customer Funds
-FTX’s Collapse Leaves Employees Sick With Anger
Further Listening:
-How Crypto Giant FTX Suddenly Imploded
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Zadeh Kicks, founded by Michael Malekzadeh, was once the hottest sneaker reseller on the market. It offered some coveted, limited edition shoes for cheap – a dream for sneakerheads who wanted to flip them for more money. But now Zadeh Kicks has dissolved. WSJ's Inti Pacheco explains how sneaker giant Malekzadeh came undone.
Further Reading:
-The $300 Million Sneaker King Comes Undone
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Every winter, the respiratory virus RSV lands tens of thousands of babies and young children in hospitals around the country. This year, the outbreak started early. WSJ's Denise Roland explains the challenges of creating an RSV vaccine.
Further Reading:
-GSK Poised for Pfizer Battle in RSV Vaccine Market
-RSV Hospitalizations Surge, Babies Hit Hardest
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Bad Bets is WSJ’s podcast series that unravels big-business dramas that have had a big impact on our world. In season two, reporter Ben Foldy delves into the story of Nikola founder Trevor Milton, who promised a future of zero-emission trucks that could revolutionize the industry. At its peak, Nikola’s publicly traded stock was worth more than Ford Motor Co.’s—until a ragtag group of whistleblowers and short sellers revealed that Nikola and its truck weren’t all that they seemed.
Find the entire series here: https://www.wsj.com/podcasts/bad-bets
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Once a leader in the world of cryptocurrency, Sam Bankman-Fried’s crypto exchange FTX is scrambling for funds. It’s now facing a shortfall of $8 billion after Binance walked away from a rescue attempt. WSJ’s Caitlin Ostroff on what this means for the crypto ecosystem.
Further Reading:
-Tensions Between Crypto Giants FTX, Binance Spill Into Public View
-Binance’s Deal for Rival FTX Marks Power Shift Amid Crypto Turmoil
-The 30-Year-Old Spending $1 Billion to Save Crypto
Further Listening:
-The Rise of Binance - And The Effort to Reel it In
-The ‘Death Spiral’ of a Stablecoin
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Republicans were expecting to come away with sizable wins in the midterm elections on Tuesday. But as the results come in, it's clear that those hopes have been dashed. WSJ's Siobhan Hughes explains where the election stands — and what it means for the GOP.
Further Reading:
-Control of Congress Remains at Stake as Democrats Fend Off an Anticipated ‘Red Wave’
Further Listening:
-The Republican Push to Flip Latino Voters
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A year ago, at the United Nations Climate Change Conference in Glasgow, the biggest players in the financial world joined together to incorporate carbon emissions into their most fundamental decisions. As the summit reconvenes in Egypt, the group is on the rocks. WSJ’s David Benoit explains why.
Further Reading:
-Financial System Makes Big Promises on Climate Change at COP26 Summit
-Big Banks and U.N. Green Finance Group Clash in Alliance
-Mark Carney, Ex-Banker, Wants Banks to Pay for Climate Change
Further Listening:
-The Fight Over Climate Change's Price Tag
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Elon Musk is now in charge of Twitter, and his shake-up of the company is making advertisers nervous. All kinds of brands have started pausing their ad spending. WSJ’s Suzanne Vranica explains what Musk is doing to rein in the losses.
Further Reading:
-General Mills, Audi and Pfizer Join Growing List of Companies Pausing Twitter Ads
-First Week of Elon Musk’s Twitter Was Chaos and Confusion for Employees
Further Listening:
-The Musk-Twitter Saga – From The Journal.
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In only five years, TikTok has gained millions of fans around the world and become a source of geopolitical tension between the U.S. and China. We spoke to people who witnessed the app’s meteoric rise firsthand: influencers, former workers, and a government official who is concerned about TikTok’s data practices.
Further Listening
-Why TikTok’s Under Investigation
-Why Everyone is Mad At Instagram
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Companies trying to hire in New York City had to revamp their job postings this week. A new law requires salary ranges on all job postings, the latest in a wave around the U.S. WSJ's Chip Cutter and Ben Cohen explain how the law can affect the power dynamics between workers and employers and how companies might try to find workarounds.
Further Reading:
-Is Your Colleague Earning More Than $200,000 a Year? Now You Can Find Out
-JPMorgan, Macy’s and Other Companies Reveal What They Pay Workers
-California Employers May Soon Need to Disclose Pay on Job Listings
-Success at Work Is Warped by Your Co-Workers’ Salaries
Further Listening:
-U.S. Soccer’s Equal Pay Deal and One Player Who Helped Negotiate It
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A texting scam that originated in China is on the rise in the United States. It’s more sophisticated than scams of the past and it has already cost American victims more than $400 million in total. WSJ’s Robert McMillan explains how pig butchering works and one victim shares how it’s impacted her.
Further Reading:
-A Text Scam Called ‘Pig Butchering’ Cost Her More Than $1.6 Million
-Online Scams Cost Americans Billions. Here’s How to Avoid the Worst of Them.
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About a year after Mark Zuckerberg rebranded Facebook as Meta Platforms Inc., internal documents show the company's transition to the metaverse is not going smoothly. WSJ’s Salvador Rodriguez explains how glitchy technology and declining monthly users are complicating Meta’s big metaverse push.
Further Reading:
-Company Documents Show Meta’s Flagship Metaverse Falling Short
-Facebook Parent Meta’s Earnings Fall Short as Revenue Decline Accelerates
Further Listening:
-How to Build a Metaverse
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For months the Federal Reserve has been raising interest rates at a fast and furious pace to combat inflation. Now some Fed officials are advocating for a slower, steadier approach. WSJ’s Nick Timiraos explains the debate within the Fed over just how high interest rates should go.
Further Reading:
-Two Fed Officials Make Case for Caution With Future Interest Rate Raises
-Fed Set to Raise Rates by 0.75 Point and Debate Size of Future Hikes
Further Listening:
-The Fed’s Plan to Curb Inflation
-Can the Fed Lower Inflation Without Causing a Recession?
-The Fed’s Shifting Inflation Message
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Minions, the yellow, pill-shaped sidekicks that debuted in the 2010 animated film “Despicable Me," have emerged as one of the best-known franchises in recent Hollywood history. WSJ’s Erich Schwartzel explains the mix of luck and strategy that made the Minions so successful.
Further Reading:
-How the Minions Became Hollywood’s Mightiest Franchise
Further Listening:
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Disney CEO Bob Chapek talks with WSJ’s Editor in Chief Matt Murray about the challenges of weathering controversies and keeping his nearly 100 year-old company relevant.
Further Reading and Watching:
-Video Highlights from WSJ Tech Live 2022
Further Listening:
-How Disney’s CEO Got Caught in Florida’s Fight Over Gay Rights
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An unofficial oil-for-security pact between the U.S. and Saudi Arabia has survived 15 presidents and seven kings, but is now fracturing under two leaders who don’t like each other. WSJ’s Stephen Kalin explains why the U.S. and Saudi Arabia’s relationship has hit a new low.
Further Reading:
- U.S.-Saudi Relations Buckle, Driven by Animosity Between Biden and Mohammed bin Salman
- Saudi Conference Draws Wall Street Executives Amid Strained Ties With U.S.
Further Listening:
- As Saudi Arabia Cools on the U.S., It Warms to China
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Pickleball is a big dill. It’s also the fastest-growing sport in America. Meanwhile, superstar investors like Tom Brady and LeBron James are pouring cash into pro pickleball. WSJ’s Sara Bosworth explains the rise of the paddle sport and why investors are flocking to it.
Further Reading:
-Since When Do Millennials Love Pickleball?
-LeBron James Is Buying a Professional Pickleball Team
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No longer just for celebrities, Botox's multi-billion dollar success has helped kickstart a new industry of medical cosmetic procedures. But now, a competitor is on the horizon. WSJ's Rory Satran and Jared Hopkins on the new anti-wrinkle shot that's trying to take on Botox.
Further Reading:
- FDA Approves New Botox Rival
- Getting Botox Used to Be a Secret. Now It’s Not.
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Stronger hurricanes, higher insurance premiums and stricter building codes are changing who can afford life on the coast. After Hurricane Ian, WSJ's Arian Campo-Flores headed to southwestern Florida to see how the state's coastal communities are faring and transforming.
Further Reading:
- Florida Coastal Living Reshaped by Hurricane Housing Codes
- Hurricane Ian Is Latest Blow to Florida’s Struggling Home Insurers
- Home Buyers Flock to Florida Cities Devastated by Hurricane Ian
- Flattened by Hurricane Michael, Florida Town Tries to Stave Off Big Development
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The CEOs of the nation’s largest banks, JPMorgan Chase and Bank of America, are sending different messages about the economy. One is more optimistic, the other more pessimistic. WSJ’s Ben Eisen explains what’s driving their differences.
Further Reading:
- Bank of America CEO’s Optimism Defies Economic Gloom
- Jamie Dimon Says U.S. Consumers Still Have Six to Nine Months of Spending Power
- JP Morgan Chase Earnings Show Economy is Resilient, but Jamie Dimon’s “Hurricane” Looms
Further Listening:
- The Fed’s Plan to Curb Inflation
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Southern Florida is awash with empty luxury properties. For one Miami couple and their accomplices, that looked like prime hunting ground for nearly $10 million in mortgage fraud. Their targets? Venezuela’s sanctioned elite. As WSJ’s Konrad Putzier reports, it was fun while it lasted.
Further Reading:
- Florida Couple Turned the Empty Miami Mansions of Venezuela’s Elite Into Personal Piggy Banks
Further Listening:
- An Undercover Operation to Reveal an Alleged Ponzi Scheme
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