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How JPMorgan thrived amid a banking crisis Mar 06, 2024

Show notes

It’s been a year since Silicon Valley Bank’s collapse left everyone worried that the US’s banking sector sat on shaky ground. Despite that turmoil, one bank stands out: JPMorgan Chase. The largest bank in the country, JPMorgan took home record profits in 2023, and its dominance looks set to continue. The FT’s US banking editor Joshua Franklin walks through the reasons why JPMorgan flew past its competitors, and what threat its size could pose to smaller banks.

Clips from AP, CNBC, KTVU, KPIX

Plus, do you have a question about markets, finance or economics? Get in touch with Michela, and we may use it in an upcoming joint show with Unhedged.

Email Michela at michela.tindera@ft.com, or message her on X at @mtindera07.

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For further reading:

JPMorgan takes almost a fifth of total US bank profits

US regional banks hope for profit revival as pain from SVB fallout eases

JPMorgan: the bank that never lets a crisis go to waste

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On X, follow Joshua Franklin (@FTJFranklin) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Is OpenAI’s business model sustainable? Feb 28, 2024

Show notes

OpenAI is one of the fastest-growing companies ever, thanks to its artificial intelligence chatbot, ChatGPT. But costs to train and run the models that underpin that technology are steep. And chief executive Sam Altman has said he has even bigger aims. The FT’s Madhumita Murgia and George Hammond examine whether the start-up’s existing business model can achieve its long-term goals.

Plus, do you have a question about markets, finance or economics? Get in touch with Michela, and we may use it in an upcoming joint show with Unhedged.

Email Michela at michela.tindera@ft.com, or message her on X at @mtindera07.

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For further reading:

Can OpenAI create superintelligence before it runs out of cash?

OpenAI on track to hit $2bn revenue milestone as growth rockets

OpenAI’s Sam Altman in talks with Middle East backers over chip venture

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On X, follow Madhumita Murgia (@madhumita29), George Hammond (@GeorgeNHammond) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Hedge fund pioneers face signs of a reckoning Feb 21, 2024

Show notes

Billionaire financiers such as Ken Griffin pioneered what’s known as the multi-manager model for hedge funds, where big spending begets big returns. In 2022, Griffin’s Citadel became the best-performing hedge fund of all time. But now, cracks in the sector are beginning to form. The FT’s Harriet Agnew and Ortenca Aliaj examine what a downturn could mean for investors and the broader financial sector.

Plus, do you have a question about markets, finance or economics? Get in touch with Michela, and we may use it in an upcoming joint show with Unhedged.

Email Michela at michela.tindera@ft.com, or message her on X at @mtindera07.

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For further reading:

Are hedge fund pioneers facing the end of a golden era?

Bobby Jain’s hedge fund launch falls short of $8bn-$10bn target

How Ken Griffin rebuilt Citadel’s ramparts

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On X, follow Harriet Agnew (@HarrietAgnew), Ortenca Aliaj (@OrtencaAl) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Why Elon Musk is breaking up with Delaware Feb 14, 2024

Show notes

A Delaware court recently struck down Elon Musk’s $56 billion Tesla pay package. Soon after, Musk took to his social network X and offered some advice: “Never incorporate your company in the state of Delaware.” But will anyone take it? The FT’s Wall Street editor Sujeet Indap explains how Delaware became the favourite place for big companies to incorporate and why that’s unlikely to change.

Clips from BBC, WFAA

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For further reading:

Can Elon Musk derail Delaware?

Texas is throwing down a legal challenge to Delaware

Delaware versus Elon Musk

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On X, follow Sujeet Indap (@sindap) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Baidu’s ‘do-or-die’ bet on AI Feb 07, 2024

Show notes

Baidu made it big as China’s go-to search engine. But in the past decade the tech giant has struggled, while competitors such as Alibaba and Tencent have soared ahead. The FT’s China tech correspondent Ryan McMorrow looks at chief executive Robin Li’s latest venture, in artificial intelligence, and whether this will be enough to turn the company around.

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For further reading:

Baidu’s bet on AI could make or break China’s fallen tech group

Tightened US rules throttle Alibaba and Baidu’s AI chip development

Baidu shares fall after Ernie AI chatbot demo disappoints

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On X, follow Ryan McMorrow (@rwmcmorrow) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Is this nuclear power’s moment? Jan 31, 2024

Show notes

The nuclear power industry is receiving a lot of attention recently thanks in part to new technological advancements. That’s excited venture capital groups and private investors, such as Bill Gates and OpenAI’s Sam Altman. But the industry is also known for its boom-and-bust cycles. The FT’s US energy editor Jamie Smyth explains there are many challenges that lie ahead for an industry, which has long been plagued by controversy.

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For further reading:

The US plan to break Russia’s grip on nuclear fuel

US nuclear start-ups battle funding challenge in race to curb emissions

Nuclear fission start-up backed by Sam Altman to go public

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On X, follow Jamie Smyth (@JamieSmythF) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Introducing: Swamp Notes from The FT News Briefing Jan 30, 2024

Show notes

If you have questions about this year's US presidential election, we have answers.

Swamp Notes is a new podcast from the FT News Briefing. Listen every Saturday morning as our journalists analyse and discuss the latest happenings in US politics. We’ll go beyond the horse race for the White House and offer a global perspective on the election.

You can subscribe to Swamp Notes here or wherever you get your podcasts.

Hosted on Acast. See acast.com/privacy for more information.

BlackRock goes all in on infrastructure Jan 24, 2024

Show notes

BlackRock chief executive Larry Fink has been on the hunt for the money manager’s next “transformational” deal. Earlier this month, Fink revealed that he had finally found it with the acquisition of a private capital firm, Global Infrastructure Partners. The FT’s US financial editor Brooke Masters and US private capital correspondent Antoine Gara explain why BlackRock wanted GIP, and how this deal sets the agenda for Wall Street this year.

Clips from CNBC

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For further reading:

How the $12.5bn BlackRock-GIP deal is set to shake up investment management

How Adebayo Ogunlesi’s contrarian bet led to $12.5bn BlackRock tie-up

Infrastructure funds draw billions of dollars as energy and supply chains shift

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On X, follow Antoine Gara (@AntoineGara), Brooke Masters (@brookeamasters) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

An IPO drought pushes investors to a murky marketplace Jan 17, 2024

Show notes

In Silicon Valley, the promise of a massive payday for a start-up’s early employees and investors has hinged on those companies eventually going public or being sold off. But with the slowdown in initial public offerings and acquisitions, a different marketplace is set to heat up this year. It is called the venture secondary market, and it’s where both investors and early employees can trade their stakes in privately-held companies. The FT’s venture capital correspondent George Hammond explains the potential pitfalls of this opaque marketplace and why investors will be rushing to it in 2024.

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For further reading:

Investors raise billions to buy discounted stakes in start-ups

Carta customers say platform tried to trade their shares without consent

Carta shuts trading platform after data privacy breach allegations

Staying private: the booming market for shares in the hottest start-ups

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On X, follow George Hammond (@GeorgeNHammond) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Introducing Untold: The Retreat Jan 11, 2024

Show notes

Introducing Untold, a new podcast from the special investigations team at the Financial Times. In its first series, The Retreat, host Madison Marriage examines the world of the Goenka network, which promotes a type of intensive meditation known as Vipassana. Thousands of people go on Goenka retreats every year. People rave about them. But some people go to these meditation retreats, and they suffer. They might feel a deep sense of terror, or a break with reality. And on the other side, they’re not themselves anymore. Untold: The Retreat launches Jan. 24.

Subscribe and listen on: Apple Podcasts, Spotify or wherever you get your podcasts.

Hosted on Acast. See acast.com/privacy for more information.

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