Javier Milei, radical libertarian outsider, discusses Argentina's economic crises, his proposed solutions, and investor optimism. The podcast also covers the investigation into Binance and Indonesia's controversial plan to relocate its capital city.
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Quick takeaways
Sam Altman, former CEO of OpenAI, will not be reinstated as negotiations fell apart and he has accepted a job offer from Microsoft.
Argentina's newly elected president, Javier Milei, aims to stabilize the country's economy through spending cuts and economic reforms.
Deep dives
OpenAI rebellion and CEO firing
On Monday, OpenAI employees rebelled against the company's board, demanding the reinstatement of former CEO Sam Altman. However, negotiations with OpenAI fell apart and Altman has accepted a job offer from Microsoft. This development marks a new era for OpenAI.
Javier Malay's surprise win in Argentina
Javier Malay, a right-wing populist, won the presidential election in Argentina amid a worsening economic crisis. Malay's victory can be attributed to public anger towards the country's political elite and the perceived failure of the current government to address key issues such as inflation and poverty. Malay's top priority will be to stabilize the economy, which will require significant spending cuts and the implementation of economic reforms.
Binance faces massive settlement and potential criminal charges
The US Department of Justice is seeking a $4 billion settlement from Binance, the world's biggest cryptocurrency exchange, to resolve a criminal investigation into allegations of bank fraud and money laundering. Under the settlement, Binance CEO Xin Peng Zhao may also face criminal charges. This development comes as Binance faces multiple lawsuits filed by US regulators. Meanwhile, international investors have shown positive sentiment towards Binance, but there are concerns about potential social unrest and skepticism within Argentina.
A majority of OpenAI employees sent a letter demanding that the board reinstate former CEO Sam Altman, Argentina is entering a new era after electing radical libertarian outsider Javier Milei as president, and the US Department of Justice is seeking more than $4bn from Binance to settle a criminal fraud investigation. Plus, the FT’s Alec Russell unpacks Indonesian president Joko Widodo’s ambitious plan to build a new capital city and turn the country into an economic superpower.
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.