JP Morgan is getting about $92 billion in deposits in the deal, including $30 billion that was put into First Republic last month to try to save it. The bank will also observe $173 billion in outstanding loans and $30 billion in security. Jamie Diamond, here he is again, was already the country's largest bank. This makes it even bigger.
Kara and Scott discuss the recent warnings from one of the “Godfathers of AI,” as well as the potential writers' strike. Then, J.P Morgan keeps getting bigger with its latest acquisition: First Republic. Elon Musk says Twitter will let media publishers charge for articles. Also, does anybody have a Bluesky referral code? And we’re joined by Friend of Pivot, Joelle Emerson, to break down how recent layoffs have affected corporate diversity.
You can find Joelle at @joelle_emerson on Twitter.
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