Bloomberg Businessweek Bloomberg Businessweek Weekend - January 23rd, 2026
Jan 24, 2026
Guest
Hannah Elliott
Guest
Brian Maciak
Guest
James Daunt
Guest
Rick Wurster
Guest
Kathy Wood
Guest
Daron Acemoglu
Hannah Elliott, an auto columnist who test-drove Mercedes’ advanced driving AI. Brian Maciak, CEO of Fullspeed Automotive on changing maintenance habits. James Daunt, bookseller reviving community-focused stores. Rick Wurster, Charles Schwab CEO on client behavior and private-market access. Kathy Wood, ARK Invest founder on AI-driven investment platforms. Daron Acemoglu, MIT economist with a theory on political centralization.
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Episode notes
Executive Power Through Norm Erosion
- Daron Acemoglu argues Trump's tactics form a coherent strategy to centralize executive power by weakening norms and institutions.
- He warns that norm erosion, not just policies, risks lasting shifts toward executive dominance.
Markets Aren't A Constitutional Backstop
- Acemoglu notes markets are not a reliable guardrail against political centralization despite limited short-term reactions.
- He cautions that financial market calm won't prevent sweeping institutional changes if norms collapse.
Depreciation Rules Could Spark U.S. Investment
- Kathy Wood expects U.S. effective corporate tax rates to fall and spur capital investment via new depreciation rules.
- She sees those tax changes as underappreciated drivers for higher returns on invested capital in the U.S.
