Wall Street Week
Playing Offense and Defense | European defense spending, corporate reinvention, business of video games
Mar 28, 2025
Zannie Mitten-Bettos, Editor-in-chief of The Economist, discusses the rising tensions between the US and Europe, particularly on defense spending amidst geopolitical shifts. Joe Preston, CEO of New Balance, shares how the brand has revitalized itself through strategic pivots and a focus on U.S. manufacturing. The conversation also dives into the booming $200 billion video game market, highlighting the anticipation around upcoming titles like Grand Theft Auto 6, illustrating the industry's balance between creativity and commercial success.
35:52
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Quick takeaways
- Growing tensions between the US and Europe are driving European leaders to enhance their military capabilities and reduce reliance on US support.
- New Balance's strategic brand transformation under CEO Joe Preston highlights the importance of innovation and avoiding corporate pitfalls for sustained growth.
Deep dives
The Changing Dynamics of US-EU Relations
Growing tensions between the United States and Europe have been highlighted, particularly following actions perceived as hostile from the current US administration. Europeans have expressed shock and concern over what they view as a shift in US foreign policy that could impact long-standing alliances. This situation has prompted European leaders to reconsider their reliance on the US for defense and strategic support, as sentiments emerge suggesting that Europe needs to bolster its own military capabilities. As Europe's perception of the US evolves, a sense of urgency arises, potentially galvanizing a movement towards greater autonomy in defense spending and cooperation.
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