Slate Money

Doug Woodham, former president of Christie's Americas and author, dives into Basquiat’s remarkable rise in the art market. He discusses how Basquiat was initially undervalued but became an icon through key collector endorsements that stabilized his market. Woodham highlights how institutional skepticism and collector strategies shaped perceptions. He also explores the impact of the 1996 film on Basquiat's fame and the role of recent high-profile sales in boosting market demand, all while questioning whether collectors or Basquiat's genius created his value.

Max Chafkin, a BusinessWeek/Bloomberg writer, joins the discussion to unpack NVIDIA's staggering $100 billion investment in OpenAI, hinting at the possibility of an AI bubble. He also delves into the chaos surrounding the Trump administration's new $100,000 H-1B visa fee and its broader implications for immigration policy. Additionally, Max shares the wild tale of how an Enron parody morphed into a memecoin disaster, raising questions about the value of memes in the cryptocurrency world. It's a whirlwind of tech, finance, and unexpected satire!

Neil Irwin, an economics reporter at Axios and Fed expert, joins the hosts to unravel the complexities of a recent Federal Reserve meeting marked by unexpected dissent. He examines the implications of new political pressures and the challenges faced by the Fed's independence. The conversation shifts to the rising costs of premium credit cards, exploring why brands like Amex are hiking fees and the allure of exclusive perks. They also tackle the bankruptcy of Publishers Clearing House and the fallout for 'lifetime' winners who now face uncertain futures.

Join Pulitzer Prize-winning journalist Gary Rivlin as he unpacks the thrilling competition among tech giants like Microsoft and Google in the AI sector. Rivlin discusses the emotional connections users form with AI, spotlighting the highs of GPT-4 and the letdowns of GPT-5. He navigates the contrasting views of techno-optimism and skepticism regarding AI's future, emphasizing the ethical dilemmas and job market impacts. With insights drawn from decades of tech coverage, he offers a nuanced outlook on the evolving landscape of artificial intelligence.

This week, a chaotic ICE raid at a Hyundai plant in Georgia raised concerns about foreign investment in the U.S. and strained diplomatic ties with South Korea. Meanwhile, Oracle's stock soared thanks to a groundbreaking AI deal with OpenAI, bringing Larry Ellison close to the title of the world's richest man. The hosts also critique JP Morgan's opulent new skyscraper, comparing it to Vegas hotels, while discussing the evolving landscape of corporate work culture and rising energy costs.

Elon Musk is offered a jaw-dropping $1 trillion package by Tesla, sparking a debate about executive compensation and corporate valuations. A recent court ruling recognizes Google as a monopoly but stops short of breaking it up, raising questions about antitrust logic. Meanwhile, traders are jumping on potential tariff refunds as the Supreme Court considers Trump’s tariffs, leading to a deep dive into the world of litigation finance. From tech monopolies to the dynamics of wealth, the conversation covers a lot of ground!

David Gelles, a New York Times reporter, dives into the captivating life of Yvon Chouinard, the founder of Patagonia. He discusses the paradox of a billionaire advocating for environmental sustainability, challenging the norms of capitalism. The conversation explores Patagonia's unique blend of profit and purpose, its ethical business philosophy, and the complexities of navigating growth while staying true to environmental values. Gelles sheds light on how Chouinard's vision has redefined corporate responsibility and the future of ethical leadership.

This week: Fed governor Lisa Cook is suing the Trump administration over her dismissal. Felix Salmon, Elizabeth Spiers, and Emily Peck, along with guest Kashmir Hill of The New York Times, discuss the weak fraud case being used to oust the Biden-appointed Fed governor and its significance in the fight to preserve the independence of the Federal Reserve. Then, Kashmir goes in depth on the many stories she’s reported on lately of people forming intense relationships with AI chatbots that lead to dire consequences including psychosis and death. She and the hosts discuss the role of this new technology in our society, the unknowable consequences of its unchecked ubiquity, and what can be done to protect users from potential dangers.From the Numbers Round: Emily’s Birthday PancakesPLEASE NOTE: There is discussion of suicide in this episode. If you are in need of help, 988 is the three-digit, nationwide phone number to connect directly to the Suicide & Crisis Lifeline. Text, call, or chat 988.In the Slate Plus episode: Big Money on Taylor & TravisWant to hear that discussion and hear more Slate Money? Join Slate Plus to unlock weekly bonus episodes. Plus, you’ll access ad-free listening across all your favorite Slate podcasts. You can subscribe directly from the Slate Money show page on Apple Podcasts and Spotify. Or, visit slate.com/moneyplus to get access wherever you listen. Podcast production by Jessamine Molli and Cheyna Roth. Hosted on Acast. See acast.com/privacy for more information.

This week explores a wild ATM glitch that let NYC teens withdraw unlimited cash, revealing ethical dilemmas and chaos. The conversation shifts to modern financial literacy, showcasing students struggling with unexpected banking fees. They also critique platforms like Yieldstreet, questioning the true accessibility of private investments. A provocative op-ed about sacrificing youth for wealth sparks a debate on societal pressures and the real meaning of success. Finally, the discussion touches on the evolving landscape of personal branding in today's digital age.

Join Steve H. Hanke and Matt Sekerke, both esteemed economics professors and co-authors of a new financial reform book, as they dive into the complex world of the U.S. monetary system. They unravel how misconceptions about the money supply fueled the global financial crisis and discuss urgent reforms needed in banking and monetary policy. The duo critiques current Federal Reserve practices while advocating for a stable money supply and tackling the U.S. trade imbalance. Get ready for a thought-provoking journey into fixing economic structures!