Big Take

People go to Miami for a lot of reasons including winter sun, Cuban food, retirement. But Bloomberg’s Denitsa Tsekova recently traveled to South Florida for something a little different: Hedge Fund Week. There, she discovered something truly shocking: some of the biggest, boldest short-sellers are abandoning their strategy.On today’s Big Take podcast, host David Gura speaks to Denitsa about why the rise of meme stocks, a bull market, and increasing regulatory scrutiny are leading some leading investors like Jim Chanos to abandon the strategy that made them famous. And she explains why the demise of these often-reviled investors isn’t necessarily a good thing.Read more: Short Sellers in Danger of Extinction After Crushing Stock GainsSee omnystudio.com/listener for privacy information.

A race is on to map millions of farms around the globe – all in the hopes of saving the world’s forests. A new EU deforestation regulation requires companies to prove their goods don’t contain products grown on deforested land. But that’s no easy task. And billions of dollars in global trade are at stake. On today’s Big Take podcast: Bloomberg Global Food Tsar Agnieszka de Sousa breaks down just what’s in these new rules – and why the price of everything from cocoa to coffee and lipstick to tires could rise.See omnystudio.com/listener for privacy information.

Generative AI is back in the news – and not for a good reason. First, OpenAI made headlines after the voice it introduced as part of its latest GPT update sounded eerily like Scarlett Johansson. Then, Google’s newly-introduced “AI Overview” feature started returning some questionable results – like that eating rocks might be good for you, or that cheese can help prevent cavities. On today’s Big Take, host David Gura speaks to Bloomberg AI reporter Rachel Metz and Bloomberg Opinion columnist Dave Lee to get to the bottom of just what’s been happening in the world of generative AI – and what these latest headlines mean for the way we’re all getting our information now and in the future.See omnystudio.com/listener for privacy information.

All of Japan's 54 nuclear reactors were shut down after the 2011 earthquake and tsunami. As the country's energy needs soar, debate is heating up over whether to bring the world’s largest nuclear plant back online. On today’s episode of The Big Take Asia, host K. Oanh Ha speaks to Bloomberg reporter Shoko Oda about her visit to the Kashiwazaki Kariwa plant and the challenges to rebooting it.See omnystudio.com/listener for privacy information.

Google’s “moonshot” factory, dubbed “X,” encouraged researchers, engineers and developers to dream big for years – no project was too ambitious or too expensive. But recently there’s been a shift. With the tech boom in the rearview mirror, tightening budgets and the rising popularity of ChatGPT, Google has turned its focus away from chasing longshot inventions to expanding its search engine business and AI operations. In today’s episode, Bloomberg’s Julia Love tells host Sarah Holder what this means for Google and tech innovation at large. Read more: Google’s Moonshot Factory Falls Back Down to EarthSee omnystudio.com/listener for privacy information.

South Africa is at a turning point. Thirty years after Nelson Mandela rose to power on a platform of equality, peace, and prosperity, the party he headed is facing serious challengers. In the country’s May 29th election, the African National Congress Party, or ANC, looks poised to lose its outright majority. In today’s episode, host Sarah Holder is joined by Johannesburg-based economic and government affairs reporter Ntando Thukwana to discuss why voters are souring on the ANC – something once unthinkable for the party that lifted the country out of apartheid. See omnystudio.com/listener for privacy information.

Netflix is the biggest paid subscription streaming service in the world. But two years ago, its dominance was in question after it reported its first subscriber decline in over a decade. So the company did something radical: it cracked down on password sharing. The man behind the move? Well, he’s now one of the most powerful people in Hollywood. Meet Greg Peters, the co-CEO of Netflix. Bloomberg’s Lucas Shaw recently sat down with Peters for his first major print profile. He tells host David Gura about Peters’ bold plan to transform Netflix and the way all of us watch everything from TV shows to sports. Read more: Netflix Had a Password-Sharing Problem. Greg Peters Fixed It Listen to the Big Take podcast every week day and subscribe to our daily newsletterSee omnystudio.com/listener for privacy information.

After four decades of unparalleled gains in income and wealth, China’s 1.4 billion have been hit by a series of blows: a real estate collapse, a trade war with the US, and a crackdown on entrepreneurs have stalled the country’s prosperity engine. On today’s episode of The Big Take Asia, host K. Oanh Ha dives into how China’s slowing economy is affecting people on the ground, and how Beijing is responding to that shift. Ha talks to Bloomberg correspondent Rebecca Choong Wilkins in Hong Kong and Bloomberg’s Chief Economist Tom Orlik.Read more: ‘Are You Better Off?’ Asking Reagan’s Question in Xi’s ChinaSee omnystudio.com/listener for privacy information.

The deaths of Iran’s president and foreign minister in a helicopter crash were followed by a declaration of an official mourning period ahead of a new election.It also has led to new speculation about who is poised to succeed Iran’s supreme leader, which could have regional and global ramifications. On today’s episode, hosts David Gura and Sarah Holder discuss the fallout of the president’s death with Bloomberg’s Middle East, Europe and Africa news director Rosalind Mathieson and national security editor Nick Wadhams.See omnystudio.com/listener for privacy information.

The meme stock era, led by Keith Gill, aka “Roaring Kitty,” seemed to have come and gone — until this week, when he reemerged on social media. It was enough to send shares in GameStop and AMC on a wild ride again, conjuring memories of 2021’s meme stock mania.So what’s really going on? On today’s episode, Bloomberg’s Money Stuff columnist Matt Levine schools us in Meme Financial Markets — and breaks down for host David Gura what these wild moves mean for anyone interested in putting money in the stock market.Read more: GameStop Is Back!?See omnystudio.com/listener for privacy information.

After Berkeley, California, became the first city in the US to ban natural gas in new buildings in 2019, it gained an unlikely opponent: the California Restaurant Association. The industry group sued the city, and kicked off a four-year-plus legal battle that ended with the city backing down. But when Bloomberg’s Ben Elgin started following the money, he found evidence that raised questions about where the association got its support. In today’s episode, host Sarah Holder speaks with Elgin about the fight against California gas bans and how gas companies are planning to leverage that victory nationally.See omnystudio.com/listener for privacy information.

In 2002, Narendra Modi was facing the biggest political crisis of his career. But in the aftermath of riots that left more than 1,000 people dead – most of them Muslims – he saw an opportunity to turn his fortunes around. He would go on to become one of the most powerful leaders India has seen in decades. Host K. Oanh Ha, Bloomberg’s Sudhi Ranjan Sen and author Nilanjan Mukhophadyay trace how Modi and his government have been able to transform India into one of the fastest-growing economies in the world.See omnystudio.com/listener for privacy information.

Narendra Modi is arguably the world’s most popular politician. With nearly 1 billion Indians eligible to vote in a six-week election that concludes on June 4, Modi and his party are expected to win a majority for the third time in a row and extend their decade in power. But there are also concerns over human rights and religious and press freedoms that many political leaders, CEOs and bankers in the West appear willing to overlook. On our first episode of The Big Take Asia, host K. Oanh Ha and Bloomberg’s Sudhi Ranjan Sen chart how Modi built up so much power over the last several decades – and why he is both a beloved and divisive figure.See omnystudio.com/listener for privacy information.

When he was first elected to lead France in 2017, President Emmanuel Macron promised nothing less than a revolution. Since then, he’s pushed through controversial pension reforms, slashed taxes, and made it easier for French companies to fire employees. Now, he’s setting his sights beyond France. On the sidelines of the Choose France summit in Versailles, Macron speaks to Bloomberg editor-in-chief John Micklethwait about his bold plan to transform Europe. And he issues a stark warning about what could happen if Europe’s economic growth fails to keep up – not just for the continent, but for global security.See omnystudio.com/listener for privacy information.

There are more than 100 million pieces of space trash — defunct satellites, rocket parts, dead batteries — all floating around in Earth’s orbit.That can pose a problem in space, of course, but it’s an even bigger one when these objects re-enter the atmosphere and crash down to Earth.On today’s episode, host David Gura speaks with Bloomberg’s space reporter Bruce Einhorn about the startups racing to clean up space, and with a Florida homeowner who found out the hard way that this problem isn’t as far away as it seems. See omnystudio.com/listener for privacy information.

Tim Cook picked up the mantle from Steve Jobs as CEO of Apple over a decade ago and grew it into a multi-trillion dollar company. Now, as Cook nears traditional retirement age, speculation abounds about who will succeed him. Bloomberg’s Mark Gurman joins host David Gura to discuss the challenges of replacing Cook, his potential successors and how that decision will impact one of the best-known brands in the world. Read more: Tim Cook Can't Run Apple Forever. Who's Next?See omnystudio.com/listener for privacy information.

“Buy Now, Pay Later” options have exploded in popularity and availability, and in the midst of stubborn inflation, Americans are even using them to buy essentials like groceries. But not all of the BNPL providers report data like credit card companies — and no one knows exactly how much debt consumers owe. On today’s episode, host Sarah Holder talks to reporters Paulina Cachero and Paige Smith, who tried to find out more about the size and scope of the debt.See omnystudio.com/listener for privacy information.

Bill Hwang amassed a fortune of $36 billion on Wall Street through his family office, Archegos Capital Management. But over the course of one week in 2021, the firm imploded. Federal prosecutors have since charged Hwang with 11 criminal counts, including securities fraud, wire fraud and racketeering. Today, Bloomberg’s Sridhar Natarajan and Kathy Burton join host David Gura to discuss Hwang’s rise and fall and why his trial promises to be one of the biggest, and most interesting, in the history of Wall Street.See omnystudio.com/listener for privacy information.

Since 2020, Salesforce CEO and co-founder Marc Benioff has been on a mission to plant and preserve one trillion trees. The idea behind his initiative, 1t.org, is simple: A tree is good at taking carbon dioxide out of the environment. And more trees mean more greenhouse gas removal. Four years, millions of dollars, and dozens of pledges from non-profits, NGOs, national governments, and private companies later – how close is Benioff to one trillion trees? Today, host Sarah Holder talks to Bloomberg wealth reporter Sophie Alexander about why a billionaire decided to go all in on reforestation, why the private sector followed, and why the initiative is lagging behind. Read more: A Billionaire Wanted to Save 1 Trillion Trees by 2030. It’s Not Going Great.See omnystudio.com/listener for privacy information.

Omaha, Nebraska, is billionaire Warren Buffett’s hometown. A quirk in the state’s election law also means it could wind up deciding the 2024 presidential election. On this episode, Big Take DC host Saleha Mohsin talks to Nebraska Democratic Party Chair Jane Kleeb and Bloomberg White House reporter Josh Wingrove, who traveled to Nebraska, to understand the fight to secure Omaha’s vote and the possibility of Warren Buffett entering the fray.See omnystudio.com/listener for privacy information.

Canada has seen rapid immigration-fueled population growth in recent years. That’s boosted its economy, but housing production hasn’t kept up. The limited supply and growing demand has exacerbated an existing affordable housing crisis and inspired calls not only to build more, but to impose stricter limits on immigration. A similar dynamic is playing out across advanced economies like Australia and the UK. On today’s Big Take podcast, host Sarah Holder speaks with Bloomberg’s Randy Thanthong-Knight about the relationship between housing and immigration – and how governments are trying to manage it. See omnystudio.com/listener for privacy information.

At the end of last year, the Chair of the US Federal Reserve hinted at cutting interest rates – staving off an expected recession. It was a welcome surprise for many people watching the markets. Five months into 2024, he’s poised to pivot again. On today’s Big Take, host David Gura talks with Fed editor Kate Davidson and Bloomberg Economics’ Anna Wong about the Fed’s latest moves and what to expect from this week’s Federal Open Market Committee Meeting. Further Listening: The Federal Reserve's Tricky Economic and Political Terrain, ExplainedSee omnystudio.com/listener for privacy information.

Experts have long held up Australia’s 32-year-old “superannuation” system as the retirement model to follow. But as countries all around the world are bracing for a “silver tsunami” of aging baby boomers, even Australians worry they don’t have enough saved.Today, host Sarah Holder and Bloomberg’s Amy Bainbridge discuss what makes this system so super — and why it’s still falling short.See omnystudio.com/listener for privacy information.

Protestors at universities across the country have been demanding that their institutions divest from companies that are tied to Israel or the war in Gaza, a demand universities have long rejected as antisemitic. On today’s Big Take podcast, Sarah Holder talks to Bloomberg higher education reporter Janet Lorin and California reporter Eliyahu Kamisher about what’s really inside endowment funds and why universities are unlikely to yield to the calls of disclose and divest.See omnystudio.com/listener for privacy information.

The US public’s trust in the media, and the government, is markedly low. A recent Gallup poll found only about 30 percent of Americans trust the media — and Pew Research found only 16 percent trust their government. Bloomberg’s Jason Leopold is using records to try to change that. He’s filed over 9,000 requests through the Freedom of Information Act, or FOIA — a Cold War era law meant to ensure the right to transparency from the US government. On today’s episode, Big Take DC host Saleha Mohsin and Jason dissect the FOIA process, the challenges of sifting through redacted documents from secretive government entities and the stories FOIA records have brought to light. Subscribe to the FOIA Files newsletter: https://www.bloomberg.com/account/newsletters/foia-filesSee omnystudio.com/listener for privacy information.

Gucci was once a symbol of red-carpet luxury, but its brand, along with its sales numbers, is faltering. This Tuesday, Gucci’s parent company Kering reported its latest earnings: Gucci’s comparable revenue dropped by 18% in the first quarter this year. Kering also warned that recurring operating income will continue to plummet in the first six months of this year.On today’s Big Take podcast, Bloomberg’s Angelina Rascouet and Sara Forden talk about what went wrong at the house of Gucci, and how its billionaire owner family, the Pinaults, plan to rescue it.See omnystudio.com/listener for privacy information.

The discovery of natural gas in Qatar back in the 1970s was a transformative economic windfall for the country and its long-time rulers, the Al Thani royal family. Since then, the Al Thanis have been spending that money to build Qatar’s global brand – while strengthening diplomatic ties with powerful, and sometimes unlikely, allies. On today’s Big Take podcast, Bloomberg wealth reporter Devon Pendleton joins host Sarah Holder to trace the meteoric rise of Qatar and its royal family, and discuss how the war in Gaza and escalating conflict in the Middle East has made the country’s mediator role as critical as ever.See omnystudio.com/listener for privacy information.

The US and the Philippines kicked off one of the largest military exercises in waters near the South China Sea on Monday. These joint military drills take place annually but this year’s come amid rising tensions between China and the Philippines. The countries are sparring over control of the waterway, which is rich in energy reserves. On today’s Big Take, host Oanh Ha and Bloomberg Senior Editor Bill Faries break down why who controls this vast body of water matters for South East Asia and the rest of the world.See omnystudio.com/listener for privacy information.

Divyendra Jadoun, known as “The Indian Deepfaker,” is having a pretty busy year. The 31-year-old has built a business around making deep fakes for politicians in India — campaign-style videos where candidates appear to address voters by name. On today’s Big Take podcast, Bloomberg’s Bangalore-based AI reporter Saritha Rai and EU policy reporter Jillian Deutsch join host David Gura to explore the growing demand for these campaign deep fakes, concerns about disinformation, and the challenges of regulating the technology as India goes to the polls in the world’s biggest election.See omnystudio.com/listener for privacy information.

Tires and doors falling off mid-flight. A top US official stranded because of a 737 jet maintenance issue. Boeing is facing the ire of US lawmakers, scrutiny from its key regulator, and pressure from Wall Street ahead of an earnings report — all as it struggles to rebuild trust with passengers after a string of crises.On today’s episode, Big Take DC host Saleha Mohsin digs into Boeing’s rise and fall with reporter Julie Johnsson, global aviation editor Benedikt Kammel, and long-time pilot and accident investigator Captain John Cox.See omnystudio.com/listener for privacy information.

Cocoa has never been so expensive. That’s bad news for players all along the chocolate supply chain: from farmers, to chocolatiers, to chocolate lovers. In today’s episode, we travel from a farm in Ghana to Jacques Torres’ chocolate factory in Brooklyn, on a journey to understand the origins of a cocoa crisis – and what it means for the future of chocolate.See omnystudio.com/listener for privacy information.

In a frightening trend, scammers are catfishing teen boys and trying to extort them — and there have been tragic outcomes. The FBI says this type of crime, which it calls “sextortion,” is one of the fastest growing crimes targeting children in the US. Today, host David Gura talks to Bloomberg investigative reporter Olivia Carville about how teen boys are targeted online — and how these crimes impact the victims and their families.This episode discusses sensitive topics, including suicide. If you or someone you know needs help with thoughts of suicide or self-harm, a global list of help lines is available here.Read More: Scammers are targeting teenage boys on social media—and driving some to suicideSee omnystudio.com/listener for privacy information.

Over the weekend, Iran deployed hundreds of drones and missiles in an attack on Israel. Now, Israel weighs its response as US officials and their allies try to prevent further escalation. On today’s Big Take podcast, Israel bureau chief Ethan Bronner and national security editor Nick Wadhams join host David Gura to discuss what happened over the weekend, and where this conflict could go from here.See omnystudio.com/listener for privacy information.

Bluey, the Australian animated TV show about a family of Blue Heeler dogs, is worth $2 billion. But is Bluey worth that without the show’s auteur Joe Brumm in the picture? The release of a special extended episode coming this weekend is sparking rumors about the smash-hit sensation.On today’s Big Take podcast, Bloomberg’s Devin Leonard and Reyhan Harmanci join host David Gura to talk about the beloved program, the secret to its broad appeal, and the challenge of managing Bluey’s commercial success. Featuring some of our youngest listeners.Further reading: How Bluey Became a $2 Billion Smash Hit—With an Uncertain FutureSee omnystudio.com/listener for privacy information.

A Japanese company’s bid to buy US Steel has sparked a fight with the United Steelworkers union — and put the company at the center of the 2024 presidential contest. Today on the Big Take, Bloomberg reporters Joe Deaux and Josh Wingrove join host David Gura to trace why the deal came to a halt, how the company fits into Joe Biden and Donald Trump’s brands of political nostalgia, and why the fate of this deal could have an outsized impact on the election.See omnystudio.com/listener for privacy information.

It’s college acceptance season and many students are facing a decision: prestigious private universities versus cheaper public options. But if they’re looking at college as an investment in their future, there are some metrics worth considering.Today on the Big Take podcast, personal finance reporters Paulina Cachero and Francesca Maglione join host Sarah Holder to dig into data on the return on investment at colleges and universities in the US. And given the ballooning price of higher education, they found that, based on financial ROI, prestige doesn’t always pay off.See omnystudio.com/listener for privacy information.

India is posting some of the most robust economic growth rates right now in the world. And with China slowing, India could become the new engine of global economic growth. But it will take strategic investments, increased labor participation and more for India to achieve its economic ambitions. Today on the show, Bloomberg’s New Delhi-based economics and politics reporter Dan Strumpf joins host Sarah Holder to discuss India’s roadmap, and what its success could mean for the rest of the world.See omnystudio.com/listener for privacy information.

The US-China relationship saw several years of instability — including a trade war, China’s Covid-Zero policy and the discovery of a Chinese spy balloon above the United States.And now, with both sides keen to resume cooperation, Treasury Secretary Janet Yellen is wrapping up a trip to China with strong words about the country’s manufacturing strategy and its alleged support of Russia’s war effort.See omnystudio.com/listener for privacy information.

Argentina’s president Javier Milei has made waves since taking office in December. From his plans to abolish his country’s central bank and replace its peso with the dollar, to his efforts to reverse previous administrations’ moves to build closer ties with China, Milei is charting a perilous – and untested – new course for a country long-rankled by inflation and economic instability.Today on the Big Take podcast, Bloomberg Editor-in-Chief John Micklethwait sits down with host David Gura to discuss his exclusive interview with the Argentine leader.See omnystudio.com/listener for privacy information.

After years of letting the private tax e-filing industry run the show, the IRS is finally piloting an online tool that’s supposed to make tax season easier – and free – for thousands of taxpayers in a dozen states. On this episode of The Big Take podcast, we explore how the idea got off the ground, who can use it, and whether the program could ever compete with the powerful private tax-filing industry.Corrects date the Free File Alliance was launched in podcast published April 4.See omnystudio.com/listener for privacy information.

When Wall Street investors Tom Wagner and Greg O’Hara took over Hertz, they had ambitious plans. They aimed to revolutionize the car rental business by bringing a record number of electric vehicles into Hertz’s fleet, including 100,000 Teslas. And when Hertz’s IPO launched in 2021, it seemed Wagner and O’Hara had just made a visionary deal. EVs were hot when Hertz started buying them. But as Bloomberg reporters Erik Schatzker and David Welch tell host Sarah Holder, the company would soon discover that making them work in the rental market was another challenge entirely.See omnystudio.com/listener for privacy information.

With the stock market hitting record highs, many are wondering if it will continue to soar or come crashing down. One way to tell what’s on the mind of investors is to look at the options market. Bloomberg’s Carly Wanna tells host David Gura that average daily call volume on the VIX, often called the “fear gauge,” was up in the first quarter. So, should we be worried that traders are preparing for the possibility of a big downturn? Today on the show, what's driving markets to all-time highs, and what the VIX tells us about what investors think will come next.See omnystudio.com/listener for privacy information.

Big banks made big promises to help fight climate change. But as the world warms, those institutions are quietly cooling on their plans. On today’s Big Take podcast, Bloomberg reporter Alastair Marsh joins host Sarah Holder to break down why banks are rethinking their commitments, and what that could mean for the climate crisis.See omnystudio.com/listener for privacy information.

Jerry Seinfeld is a billionaire, thanks in part to earnings from his iconic 1990s sitcom, Seinfeld. After co-creating and starring in the TV show, Seinfeld parlayed his comedy into big money – but changes to the entertainment industry could make it a challenge for others to follow suit. On today’s Big Take podcast, Bloomberg wealth reporter Annie Massa talks to host Sarah Holder about how the Bloomberg Billionaires Index valued Seinfeld’s net worth for the first time, and what made his eponymous show such an enduring – and lucrative – classic.See omnystudio.com/listener for privacy information.

Immigration has become a top issue for voters in the 2024 election cycle, but people on the border want action now — not after November. On the Big Take podcast, Bloomberg's Washington Bureau Chief Peggy Collins visits Eagle Pass, Texas, to explore why the US-Mexico border is shaping up to be a dominant campaign issue and what the needs on the ground really are. See omnystudio.com/listener for privacy information.

In the nearly five months since a jury found Sam Bankman-Fried guilty, a narrative has started to take shape in crypto circles that the business model behind FTX was sound and that SBF would have been successful had he not dipped into customer funds. But on the eve of his sentencing, Bloomberg’s Max Chafkin and Zeke Faux join The Big Take Podcast to discuss how they found — after interviewing insiders and carefully examining trial testimony and thousands of pages of documents — that fraud was at the very core of FTX’s meteoric rise.See omnystudio.com/listener for privacy information.

SpaceX’s Starlink satellite program touts itself as a source of reliable internet in hard-to-reach places. But there are some countries where Starlink’s services aren’t licensed, or where the company can’t do business because of US sanctions. And a Bloomberg investigation has found that Starlink kits are appearing in many of those markets anyway – with geopolitical consequences. On today’s Big Take podcast, Bloomberg senior editor Alan Crawford traces the burgeoning black market for Starlink terminals, from Sudan to Venezuela. And national security reporter Dan Flatley breaks down why US government officials are taking notice – and the hurdles to shutting the black market down.See omnystudio.com/listener for privacy information.

Citigroup was the first major Wall Street bank with a female CEO. But interviews with 22 people who worked in or closely with the bank’s equities division suggest a pattern of harassment and discrimination. Bloomberg’s Paige Smith and Max Abelson join The Big Take podcast to share what their reporting uncovered, and what it says about the rest of Wall Street’s overdue #MeToo reckoning. Read more: Harassment and Drugs Plagued a Citigroup Division for YearsSee omnystudio.com/listener for privacy information.

The US House of Representatives has passed a bill with an ultimatum for TikTok’s parent company, ByteDance: sell the app, or be banned in the US. Today on The Big Take podcast, Bloomberg’s Dan Flatley and Alex Barinka cover the national security concerns behind this bill and the potential geopolitical and tech industry consequences.See omnystudio.com/listener for privacy information.

For the first time in almost two decades, Japan has raised interest rates out of negative territory. The reason? Inflation has finally arrived in the country’s economy. Today on The Big Take podcast, Bloomberg’s Paul Jackson and host Sarah Holder tackle what the change means for banks, business, and Japan’s economy.See omnystudio.com/listener for privacy information.