Prof G Markets U.S. Takes 10% Stake in Intel, Powell’s Jackson Hole Speech + OnlyFans’ $7B Boom
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Aug 26, 2025 
Join Justin Wolfers, a professor of public policy and economics at the University of Michigan, as he dives into the U.S. government's bold move to acquire a 10% stake in Intel. They explore the unsettling implications of government intervention in the private sector and the potential effects on corporate innovation. The discussion also unpacks Jerome Powell's Jackson Hole speech, hinting at possible interest rate cuts while facing internal divisions. Lastly, they analyze the staggering success of OnlyFans, spotlighting its role in addressing loneliness in the digital age.
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Government Stake Without Clear Mechanism
- The U.S. bought a 10% stake in Intel but claims no governance rights, leaving the economic effect unclear.
- Markets priced potential preferential treatment, not operational changes, after the purchase.
Stock Transfer, Not Strategy
- Justin Wolfers frames the transaction as merely moving stock certificates from one safe to another.
- He argues that relocation of ownership by itself solves no clear economic problem.
Passive Ownership Raises Questions
- If the government is truly passive, the purchase yields no operational benefits for Intel.
- That leaves observers to invent rationales like political favoritism or hidden intervention.