JP Morgan's about to have their best quarter in history. People are withdrawing their money from regional banks and the tsunami is going to be the wave of capital that goes into JP Morgan, he says. "Wait till the earnings call, the next earnings call when Jamie Diamond says, we took in more capital"
The Biden administration tells Tiktok to leave ByteDance or leave the US. Meta's year of Zuck-ficiency continues, with another 10,000 layoffs. Kara and Scott unpack the decision to backstop Silicon Valley Bank, as Credit Suisse deals with its own potential issues. Also, ChatGPT gains the power of sight, and a listener worries about the growth of legalized gambling.
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