Podcasts about economists

Islander #6 magazine is now one sale. Buy it here! Carl, Luca and Firas discuss the terror attack at Berlin's Pride march, Elon vs The Economist, and why the Gimp Party is stalling.

I personally subscribe to The Economist. TOE listeners get 35% off the annual subscription. No other podcast has this! https://economist.com/TOE This is a careful lecture that can be followed with zero background knowledge. Einstein thought he'd caught quantum mechanics in an act of spookiness — this podcast asks whether he was even worried about the right thing. Tim Maudlin, professor of philosophy at NYU and a leading philosopher of physics, delivers a rare full lecture tracing Einstein, EPR, and the road to Bell's theorem. The central claim: Einstein's real objection was never determinism — "God does not play dice" is a red herring — but non-locality, which he inferred rather than assumed. Maudlin traces the argument from Einstein's overlooked 1927 Solvay objection through the EPR paper's criterion of reality, showing why Bohr's famous reply never actually answered it. FOLLOW: - Spotify: https://open.spotify.com/show/4gL14b92xAErofYQA7bU4e - Substack: https://curtjaimungal.substack.com/subscribe - Twitter: https://twitter.com/TOEwithCurt - Discord Invite: https://discord.com/invite/kBcnfNVwqs - Crypto: https://nowpayments.io/donation/TOE - PayPal: https://www.paypal.com/donate?hosted_button_id=XUBHNMFXUX5S4 TIMESTAMPS: - 00:00:00 - Einstein's Quantization Hypothesis - 00:07:20 - Photoelectric Effect Implications - 00:12:30 - Wave-Particle Duality Myths - 00:20:40 - De Broglie's Matter Waves - 00:26:40 - Copenhagen's Completeness Doctrine - 00:34:10 - Solvay 1927: Two Conceptions - 00:41:20 - Pinhole Diffraction Problem - 00:48:00 - Collapse and Relativity Violations - 00:56:00 - Epistemic vs. Ontic Collapse - 01:05:00 - Ontological vs. Dynamical Locality - 01:14:00 - Configuration Space Objections - 01:25:00 - EPR's Criterion of Reality - 01:32:40 - Analyzing the Reality Criterion - 01:40:50 - Causal Isolation and Locality - 01:48:45 - Entangled Momentum Eigenstates - 01:56:45 - Logical Core of EPR - 02:04:40 - Position-Momentum Simultaneous Reality - 02:14:00 - Inferring Determinism from Locality - 02:26:30 - Conservation Laws and Information - 02:37:40 - Counterfactual Definiteness Debunked - 02:44:00 - Bohr's Incoherent Response - 02:52:00 - Schrödinger's Entanglement Confession LINKS MENTIONED: - Quantum Non-Locality and Relativity [Book]: https://amazon.com/dp/1444331272?tag=toe08-20 - On a Heuristic Point of View About the Creation and Conversion of Light [Paper]: https://sites.pitt.edu/~jdnorton/lectures/Rotman_Summer_School_2013/Einstein_1905_docs/Einstein_Light_Quantum_WikiSource.pdf - The Ghost in the Atom [Paper]: https://vdoc.pub/download/the-ghost-in-the-atom-a-discussion-of-the-mysteries-of-quantum-physics-1guq071e2ukg - Collected Papers on Wave Mechanics [Paper]: https://mwolf.pracownicy.uksw.edu.pl/MK/Schrodinger_Collected_Papers_on_Wave_Mechanics.pdf - Quantum Theory at the Crossroads [Book]: https://amazon.com/dp/0521814219?tag=toe08-20 - Can Quantum-Mechanical Description of Physical Reality Be Considered Complete? [Paper]: https://journals.aps.org/pr/pdf/10.1103/PhysRev.47.777 - Bohr's EPR Critique [Paper]: https://journals.aps.org/pr/pdf/10.1103/PhysRev.48.696 - The Present Situation in Quantum Mechanics [Paper]: https://personal.lse.ac.uk/robert49/teaching/partiii/pdf/SchroedingerPresentSituation1935(1980trans).pdf - Bertlmann's Socks and the Nature of Reality [Paper]: https://cds.cern.ch/record/142461/files/198009299.pdf - On the Einstein Podolsky Rosen Paradox [Paper]: https://journals.aps.org/ppf/pdf/10.1103/PhysicsPhysiqueFizika.1.195 - Quantum Theory and Measurement [Book]: https://amazon.com/dp/0691613168?tag=toe08-20 - Tim Maudlin [TOE]: https://youtu.be/fU1bs5o3nss - Sean Carroll [TOE]: https://youtu.be/9AoRxtYZrZo - Robert Sapolsky [TOE]: https://youtu.be/z0IqA1hYKY8 - Jenann Ismael [TOE]: https://youtu.be/7kvXihDAOi0 - John Norton [TOE]: https://youtu.be/Tghl6aS5A3M Guests do not pay to appear. #science Learn more about your ad choices. Visit megaphone.fm/adchoices

Craig Collins sits in for Dana. A Jewish man is stabbed in Manhattan by an assailant allegedly yelling ‘Allahu Akbar'. The White House Correspondents' Dinner will be held for the second time Friday evening with heightened security measures. The House is investigating leftist non-profits for political fraud and ties to the CCP. Jasmine Crockett compares Trump to Hitler, yet again. Elon Musk eviscerates a liberal reporter with The Economist. Sen. Rand Paul admits he hasn't talked to Mitch McConnell recently. Rep. Brandon Gill gives another masterclass when asking a woke administrator about DEI. Trump speaks out on the recent AI data center debate. A USA Today Reporter compares Caitlin Clark's WNBA presence to Emmett Till and blames Clark for racist death threats against Black WNBA players. Plus, more commentary.Thank you for supporting our sponsors that make The Dana Show possible…Byrnahttps://Byrna.com/DanaTrusted by law enforcement, security professionals, and everyday Americans—defend yourself and your family with Byrna.HumanNhttps://Humann.com/DanaGet the limited edition Watermelon Flavor and find out how to get a FREE 30-day supply before they sell out.Patriot Mobilehttp://PatriotMobile.com/DANAVisit online or call 972-PATRIOT and use promo code DANA for a FREE month of service.Relief Factorhttps://ReliefFactor.comDeclare your independence from pain with Relief Factor—start the 3-Week QuickStart for just $17.76Ghost Bedhttps://GhostBed.com/DANAGhostBed has the cooling luxury mattress you need for the best summer sleep. Use code DANA for an extra 10% off sitewide.Noble Goldhttps://NobleGoldInvestments.com/DanaIf you want to see how physical gold and silver could fit into your portfolio, download Noble Gold Investments FREE Wealth Protection Kit.Concerned Women For Americahttps://ConcernedWomen.org/DanaTogether, we can defend our girls, equip parents and protect the next generation. Subscribe today and stay in the loop on all things news with The Dana Show. Follow us here for more daily clips, updates, and commentary:YoutubeFacebookInstagramXMore InfoWebsite

[00:30] Elon Truth-Bombs the Economist (18 minutes) During a recent interview with the Economist, Elon Musk exposed journalism's double standard regarding right-leaning Americans. Objectivity in Western journalism is dead. [18:15] Celtic Throne II Feedback (3 minutes) [21:40] WorldWatch (4 minutes) [26:00] Key of David: ‘True Education' (Part 2) (27 minutes)

In a nearly 90 minute interview, SpaceX and Tesla CEO Elon Musk sat down with The Economist's editor-in-chief Zanny Minton Beddoes. Beddoes shares her biggest takeaways from the conversation, including the most viral moments about AI regulation and Musk's own relationship with the alt-right. Partnership for NYC President and CEO Steven Fulop discusses Mayor Mamdani's appointment of former FTC Commissioner Lina Khan to lead the city's Economic Development Corporation. He airs concerns about the appointment within the business community. Plus, Wall Street Journal reporter Gunjan Banerji discusses Wall Street's rush to get first access to President Trump's posts on Truth Social. CNBC's Eamon Javers reports on the White House's newest round of tariffs.    Gunjan Banerji - 8:57 Zanny Minton Beddoes - 21:13 Steven Fulop - 36:15    In this episode: Gunjan Banerji, @gunjanJS Zanny Minton Beddoes, @zannymb Steven Fulop, @StevenFulop Andrew Ross Sorkin, @andrewrsorkin Melissa Lee, @MelissaLeeCNBC Eamon Javers, @eamonjavers Katie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Leslie Picker and Michael Santoli led off the show with market reaction to Intel's better-than-expected Q2 results — with the AI boom fueling the company's fastest revenue growth in almost 15 years. The anchors also explored why software stocks were in rally mode, while memory chip shares slumped. Crude oil prices and the U.S.-Iran conflict: WTI and Brent on pace for a third consecutive week of gains. Also in focus: President Trump imposes new tariffs on dozens of countries and weighs in on the AI data center backlash; American Express and Verizon shares head in opposite directions on earnings news; Elon Musk's message to The Economist magazine on AI; Oracle's 10-year, $7 billion Pentagon contract; How low can SpaceX go?   Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Many people, including politicians, love to hate the super-rich, and assume they have gamed the system. Yet our correspondent reports that a growing share of today's wealthiest earned their money providing goods and services we all want. A new crackdown on scam compounds in Cambodia. And lessons from the ultimate political animal, Downing Street's Larry the Cat. Watch “The Insider” interview with Elon Musk from 6pm BST, 1pm EST. Listen to our podcast series “Scam Inc”. Guests and host:Callum Williams, senior economics writerSue-Lin Wong, Asia correspondentChris Impey, co-editor of “The Intelligence”Rosie Blau, co-host of “The Intelligence”Topics covered: Billionaires, Elon Musk, Lionel Messi, Taylor SwiftScams, scam compounds, CambodiaLarry the Cat, Andy Burnham, Downing StreetListen to what matters most, from global politics and business to science and technology—subscribe to The Economist. Hosted on Acast. See acast.com/privacy for more information.

A.M. Edition for July 23. Oil futures are rising again today, after Iran-backed Houthi militants claimed attacks on a pair of Saudi tankers in the Red Sea, and as the U.S. surges special-operations forces to the Middle East. Plus, Alphabet and Tesla shares tumble as the big-spending tech giants turn cash-flow negative. WSJ reporters Meghan Brobowsky and Becky Peterson break down the numbers and what to make of Elon Musk's most boring earnings call ever. And the FDA investigates a new outbreak of cyclospora. Luke Vargas hosts. Sign up for the WSJ's free What's News newsletter. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Many people, including politicians, love to hate the super-rich, and assume they have gamed the system. Yet our correspondent reports that a growing share of today's wealthiest earned their money providing goods and services we all want. A new crackdown on scam compounds in Cambodia. And lessons from the ultimate political animal, Downing Street's Larry the Cat. Watch “The Insider” interview with Elon Musk from 6pm BST, 1pm EST. Listen to our podcast series “Scam Inc”. Guests and host:Callum Williams, senior economics writerSue-Lin Wong, Asia correspondentChris Impey, co-editor of “The Intelligence”Rosie Blau, co-host of “The Intelligence”Topics covered: Billionaires, Elon Musk, Lionel Messi, Taylor SwiftScams, scam compounds, CambodiaLarry the Cat, Andy Burnham, Downing StreetListen to what matters most, from global politics and business to science and technology—subscribe to The Economist. Hosted on Acast. See acast.com/privacy for more information.

Patrick Bet-David challenges the economist who tells young men to learn how to hunt, predicts climate change will collapse society, and says he would not have children today. PBD warns this worldview may frighten an entire generation into abandoning marriage, family, ambition, and hope for the future.

Patrick Bet-David challenges an economist's plan to give every American adult $100,000 to wipe out household debt. The debate turns explosive as he blames banks, housing speculation, and even women's entry into the workforce for crushing affordability and the American dream for young families today.

Steve and Mark talk about the race in the AI game, where the USA and China are neck and neck over which country would be on top of AI production. Steve explains how the data centers work and the resources you need for them. AI may be able to help detect cancer early.  See omnystudio.com/listener for privacy information.

US Surges Forces Into Middle East As War Engulfs Region, Oil Prices Explode After Houthis Sink Two Saudi Tankers In Red Sea, Economists Warn Oil Headed To $140 A Barrel & Will Trigger Global Depression

Ukraine's president Volodymyr Zelensky has fired the commander-in-chief of the armed forces, Oleksandr Syrsky. That follows days of protests at his sacking of the defence minister. Our correspondent analyses the fallout. America's murder rate is falling, so why are cops killing more people? And a shift in the Japanese taboo on living in homes where people have died.Guests and host:Shashank Joshi, defence editorDaniel Knowles, US Midwest correspondentMoeka Iida, East Asia reporterRosie Blau, co-host of “The Intelligence”Topics covered: Fedorov, Syrsky, Zelensky, UkrainePolice killings, gun crime, murderJapan, haunted houses, jiko bukkenListen to what matters most, from global politics and business to science and technology—subscribe to The Economist. Hosted on Acast. See acast.com/privacy for more information.

A.M. Edition for July 22. In a landmark agreement, President Trump okays a nuclear deal with Saudi Arabia. WSJ's Laurence Norman explains why the commercial deal has nuclear proliferation experts concerned and could shift the balance of power in the Middle East. Plus, utilities pledge to limit increases in electricity bills caused by the data-center buildout. And in a real-life cybersecurity nightmare, OpenAI admits that a pair of its models escaped the lab and hacked into another company. Luke Vargas hosts. Sign up for the WSJ's free What's News newsletter. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Ukraine's president Volodymyr Zelensky has fired the commander-in-chief of the armed forces, Oleksandr Syrsky. That follows days of protests at his sacking of the defence minister. Our correspondent analyses the fallout. America's murder rate is falling, so why are cops killing more people? And a shift in the Japanese taboo on living in homes where people have died.Guests and host:Shashank Joshi, defence editorDaniel Knowles, US Midwest correspondentMoeka Iida, East Asia reporterRosie Blau, co-host of “The Intelligence”Topics covered: Fedorov, Syrsky, Zelensky, UkrainePolice killings, gun crime, murderJapan, haunted houses, jiko bukkenListen to what matters most, from global politics and business to science and technology—subscribe to The Economist. Hosted on Acast. See acast.com/privacy for more information.

Patrick Bet-David presses an economist who predicts the AI boom will collapse within two years, wiping out data-center investors and leaving workers without income. He warns robots could create a Hunger Games economy, then admits passing on Bitcoin cost him a shot at becoming a billionaire forever.

Today, Lebanon's president Joseph Aoun visits the White House to ask for Donald Trump's help rebuilding the country. Our correspondent reports from his recent trip to Lebanon on the challenges it faces. Threats to Red Bull's magnificent marketing machine. And why the age gap between the wealthiest men and their wives is shrinking.Guests and host:Gregg Carlstrom, Middle East correspondentVendeline von Bredow, senior Germany correspondentDoug Dowson, data journalistRosie Blau, co-host of “The Intelligence”Jason Palmer, co-host of “The Intelligence”Topics covered: Lebanon, Beirut, Joseph Aoun, HizbullahRed Bull, energy drinks, extreme sportsTrophy wives, age gap, misogynyListen to what matters most, from global politics and business to science and technology—subscribe to The Economist. Hosted on Acast. See acast.com/privacy for more information.

Today, Lebanon's president Joseph Aoun visits the White House to ask for Donald Trump's help rebuilding the country. Our correspondent reports from his recent trip to Lebanon on the challenges it faces. Threats to Red Bull's magnificent marketing machine. And why the age gap between the wealthiest men and their wives is shrinking.Guests and host:Gregg Carlstrom, Middle East correspondentVendeline von Bredow, senior Germany correspondentDoug Dowson, data journalistRosie Blau, co-host of “The Intelligence”Jason Palmer, co-host of “The Intelligence”Topics covered: Lebanon, Beirut, Joseph Aoun, HizbullahRed Bull, energy drinks, extreme sportsTrophy wives, age gap, misogynyListen to what matters most, from global politics and business to science and technology—subscribe to The Economist. Hosted on Acast. See acast.com/privacy for more information.

Patrick Bet-David sits down with economist Steve Keen, one of the few economists to warn of the 2008 financial crisis before it happened. A longtime critic of mainstream economics, Keen debates capitalism, Marxism, climate change, AI, America's debt crisis, Iran, housing affordability, and the future of civilization.Steve Keen explains why he believes economists misunderstand money, why AI is headed for a massive shakeout, and why humanity faces its greatest challenges in the decades ahead.

In the second part of our economic roundtable, Michael Gapen, Jens Eisenschmidt and Chetan Ahya join Seth Carpenter to discuss how central banks are balancing sticky inflation, resilient growth and regional policy trade-offs.Read more insights from Morgan Stanley.----- Transcript -----Seth Carpenter: Welcome to Thoughts on the Market. I'm Seth Carpenter, Morgan Stanley's Global Chief Economist and Head of Macro Research. And once again today, I am joined by Morgan Stanley's chief regional economists: Michael Gapen, the Chief U.S. Economist, Jens Eisenschmidt, our Chief Europe Economist, and on the other side of the world, Chetna Ahya, our Chief Asia Economist. Yesterday, we talked about what's supporting growth around the world, especially AI spending in the U.S. and some government spending in Europe, and Asia's role in making all of this happen. Today, we're going to try to dig deeper and go into policy. It's Tuesday, July 21st at 10 am in New York Jens Eisenschmidt: And 4pm in Frankfurt. Chetan Ahya: And 10pm in Hong Kong. Seth Carpenter: Since the last time we did this in mid-April, I will say the debate around central banks has probably become more complicated. Global growth has held up, probably better than many people expected. And inflation, which picked up a lot, started to recede. But it has not gone away. And some of the forces helping to shape the economy, the AI spending, government spending, that possible upswing in manufacturing, that could keep demand strong, and it might keep pushing inflation higher. So, the question today is, if growth remains resilient, how much room really do central banks have to navigate? Mike, let me start with you because your call for the Fed here in the U.S. is out of consensus, or at least at odds with where the market is pricing things. We talked about the demand going from AI. You pointed out that imports are actually limiting how much domestic demand there is. So, what is the underlying story for inflation in the U.S.? And what does it mean for the Fed? Michael Gapen: So, our view is that inflation will come down in the U.S. So, we think disinflation will be driven by some payback in energy prices. Some payback from tariffs, which have pushed up goods prices over the last year. And some further diminishment in housing-related inflation, namely shelter. So, we think on a broad-based perspective, inflation has already peaked and will start moving lower. And we think we've seen evidence of this in recent inflation prints. A risk to that, though, is from the demand side of the economy and AI-related inflation in two parts. One, higher software prices, chipflation. So, the pass-through of some of the AI pricing components. Fortunately, here, they're about less than 1 percent of the consumer basket. So, we don't think that there's a great risk, a strong risk, a high risk of AI-related inflation in the consumer bundle. I think the real risk is that maybe we underestimate broad-based demand, animal spirits. And so, you might just see a broad-based increase in inflation from stronger demand. That'll be a little bit harder to see in real times. But our expectation is that inflation moves lower to about 3 percent, by the end of this year and closer to 2.5 percent next year. Seth Carpenter: All right. Thanks, Mike. And in fact, the most recent inflation report that we just got confirms your perspective that inflation should be coming down. And so, I guess the question then remains: What would it take for the Fed to hike this year if inflation has come down like we've seen? Michael Gapen: Well, I think that the answer there is that inflation wouldn't come down in line with our expectations. So, if the view is that energy prices, tariffs, and shelter inflation should provide plenty of offset and bring inflation down, I think the answer is you don't get payback. Explicitly, core goods prices stay elevated. Maybe we get ongoing disruptions in the Middle East that push energy prices higher and create second-round effects. So, I think inflation just lingering at elevated levels could mean the Fed gets brought in to raise rates in September or later this year. We think if they're patient enough, they'll see enough disinflation to keep them on the sidelines. But the risk is disinflation forecast is too optimistic, inflation stays firm, the Fed needs to raise rates. Seth Carpenter: All right, Jens, what about for you and the ECB? They've already raised interest rates once this year. I think you've got a forecast for them raising interest rates again in September. What could make you wrong about that forecast? What's going to make you convinced that you're right about that forecast? And is there a similar tension that the ECB is wrestling with that Mike talked about for the Fed? Jens Eisenschmidt: Yeah. I mean, starting with the last part of your question, I think no doubt, very similar tension. Just that, of course, it's less obvious. It's essentially a nuanced European version instead of the loud American version that we always stereotypically think the world looks like. So, essentially, we have here clearly not an AI boom. That, I mean, there's no question. And we have discussed that yesterday. Still, there is certainly the notion that the world demand is not really weak, and some of this will also arrive in Europe. And so, you have that tension between maybe there's more resilience than we had thought, and so inflation will not come down through to slack as much. And so, we might actually add something here in terms of monetary restrictiveness. Now, the other thing that is often forgotten, even though it's blatantly obvious, the starting point is just different. The ECB is running neutral monetary policy by all accounts. I mean, you could say 2 percent is neutral, and now they are 2.25. But, you know, there are ranges of uncertainty around any estimate. And the latest that they published runs – goes from 1.75 to 2;2.5. So basically, even if they were to increase rates to 2.5 in September, you could go with the microphone around the governing council, and you would probably find a lot of people saying, "Well, this is still a neutral policy." That's probably not the case for the U.S. So, I guess this matters here for that debate too. Seth Carpenter: All right. Yesterday we talked about lots of different things, but for Europe, we brought up fiscal policy. How do you think about fiscal policy and how it affects monetary policy? And so, I'm thinking about two channels. One, how much does the ECB care that if they keep pushing up interest rates, they're going to increase the debt service burden for countries that are already facing high debt costs? And second, is fiscal policy going to be the extra impetus for inflation that forces even more rate hikes from the ECB? Jens Eisenschmidt: I guess it depends on who you ask. Certainly, more concerned members in the governing council that would point to exactly that fiscal stimulus as a reason why interest rates have to be increased further from here. The other answer I would give is – probably for now at least, the view on fiscal policy is really model-based. You look at what type of increase in interest rate gets you essentially more fiscal restraint because there's an increase in interest rate bill and so less spending somewhere else. And that gets you basically less stimulus or less growth, I mean, very roughly speaking. I don't think it's a major concern for now. We haven't reached yet interest rates where this would start to play a role. I guess, again, Europe being fragmented as it is, with all the political risk that's around the corner. Think about the elections in France and Italy and Spain next year. That will very likely find itself expressed in spreads. And so, the higher the interest rates are, the larger the spreads could become. Seth Carpenter: So, for each of you, there's clearly a role for inflation. One of the risks we'll talk about maybe is inflation expectations and how maybe there's a big shift in what's going on with inflation. But Chetan, that brings me to you and Asia, because one economy where there unquestionably has been a fundamental shift in inflation and inflation expectation over the past several years is Japan. The Bank of Japan is on this normalization path where they're raising interest rates. Interest rates had been negative and then zero, and now they're gradually raising things up. Inflation has come back to Japan. Markets are looking at what the Bank of Japan is likely to do. Can you tell us a little bit about what our view is for the Bank of Japan this year and next? And what might make them hike interest rates faster than we think? And is there any risk that in fact they hike interest rates slower than we think? Chetan Ahya: Yeah, Seth. So, we are expecting BoJ to hike twice from here. The first rate hike is coming up in December of this year, and then another one coming up in June of next year. And then we think that, you know, the underlying inflation trend in Japan is not really that strong. So, while market pricing is for about three more rate hikes instead of two that we are building in our base case. And some of the macro investors are even talking about four more rate hikes. We think the underlying inflation trend warrants a caution and BoJ to go slowly than what the market is pricing in and what the macro investors are saying in. And the key part of our framework on thinking about Japan's inflation is that bulk of the explanation to inflation rise in Japan lies in currency moves. And secondarily, you can look at also the other drivers are more from supply side, which is higher energy prices or food prices. Whereas it's not driven so much by demand. To elaborate further on why it is not driven by demand, when you look at Japan's consumption trend, and if you index it to hundred at pre-COVID levels in September [20]19 then it's currently about 101; i.e., that it's just about 1 percent up over the last seven years. So that's a very tepid trend of consumption demand. And therefore, we don't think that BoJ needs to rush into hike in a more aggressive pace going forward. Seth Carpenter: So, there is this fundamental shift, but boy, it's not on a tear, and so the BoJ can take its time. You know, Chetan, it's hard to wrap up a conversation about the global economy without talking about China. I get the sense that there's not a lot going on with monetary policy, but we did just see a soft Q2 GDP print. So, against that backdrop, what should we be expecting in terms of policy? Is there any monetary policy coming? Or is there going to be some fiscal expansion? Or is China just sort of stuck in this lower gear? Chetan Ahya: Yeah, Seth. So, we were also surprised by the soft GDP print. But when you look into the data, actually, it was interestingly doing well on exports. And I mentioned earlier about how the global CapEx trend is helping Asia. It's definitely helping China too. But at the same time, China's domestic demand turned out to be quite weak. And particularly in the areas where we think that the policy response can be providing some help, i.e., infrastructure spend, was also very weak. And therefore, we are expecting that in the back half of the year, you will see the government taking up some fiscal expansion. Not new stimulus announcement, but whatever they had budgeted. They have enough room within that to utilize that budget and actually increase that fiscal spending towards infrastructure. We have about 2 trillion RMB worth of funds available for the government to go ahead and spend in the second half. And then lift that growth trend, which has dipped to 4.3 percent in second quarter to back to 4.6 percent in the back half of the year. Seth Carpenter: You know what? Maybe that's a great place for us to leave it. We've gone around the world again today, but this time focusing much more on policy. In the U.S., the Fed is facing this interesting situation. We think inflation is coming down. The last CPI print went in our favor. And so as a result, our forecast is that the Fed doesn't change policy at all this year. But it's going to come down to the data, and in particular, whether or not Mike and his team are right in terms of where inflation is going. In Europe, the ECB has already raised interest rates once this year. Jens and team are looking for another interest rate hike. The ECB really does seem more sensitive to inflation coming from the energy shock, but there are lots of other crosscurrents that they're paying attention to as well. And then the other major developed market central bank, the Bank of Japan, is on this normalization path. They are in the process of raising interest rates, but Chetan pointed out to us that the growth rate is such that they don't have to be in any sort of hurry, and they can take their time. So, with that, Mike, Jens, Chetan, thank you so much for helping us connect all of these dots. And to the listeners, thank you for listening. If you enjoy the show, please leave us a review wherever you listen. And share Thoughts on the Market with a friend or a colleague today.

AI investment is reshaping the global outlook. In part one of this economic roundtable, our panel explores where the momentum is strongest — and where investment still needs to catch up.Read more insights from Morgan Stanley.----- Transcript -----Seth Carpenter: Welcome to Thoughts on the Market. I'm Seth Carpenter, Morgan Stanley's Global Chief Economist and Head of Macro Research. Michael Gapen: And I'm Michael Gapen, Chief U.S. Economist. Chetan Ahya: And I'm Chetan Ahya, Chief Asia Economist. Jens Eisenschmidt: And I'm Jens Eisenschmidt, Chief Europe Economist. Seth Carpenter: And today is going to be our third quarter economic roundtable taking a wide-angle view on the global economy and all the key forces shaping our outlook and the economy. Seth Carpenter: It's Monday, July 20th at 10am in New York Jens Eisenschmidt: And 4pm in Frankfurt. Chetan Ahya: And 10pm in Hong Kong. Seth Carpenter: Since our last roundtable in April, the global economy has continued to face all sorts of shocks, a mix of resilience and friction. Inflation pressures have not disappeared. Energy and geopolitical risks have come up, they've receded, they've come back, they've receded all over the place But there is one underlying source of momentum that we have to talk about. And that is the AI-driven CapEx cycle. Michael, let me turn to you because the U.S. is a real focal point of all of this. Tell me a little bit about where Morgan Stanley Research is thinking about hyperscaler CapEx. How big it is? And then for you, when you think about the U.S. economy, just how big of a driver is it for what we're looking for in the U.S.? Michael Gapen: Yeah, we continue to revise higher our estimates for hyperscaler and AI-related CapEx in the U.S. economy. We were thinking a little over a trillion for 2027. Now we're more like 1.2 - 1.3 trillion, maybe as high as 1.4 trillion in 2028. So, the level of hyperscaler spending continues to keep rising. The growth rate and its effect on the economy is likely to slow. But as you noted, it's still a major driver of momentum in the U.S. You would look at that headline number and think, "Wow, that's, you know, 3.5 percent or so of GDP. Must be a massive source of momentum for GDP growth." But roughly about 60 percent of that hyperscaler CapEx spending goes to items like computers and peripherals, equipment spending categories that have a very, very high import content. We still get a significant number that AI CapEx is probably contributing around 40 basis points to growth this year. Be a similar-sized amount perhaps next year.So, for an economy that's growing somewhere a little bit above 2 percent right now, maybe closer to 2.5 percent next year, that's a non-trivial amount. We just have to remember it's fueling growth around the world, just not here in the U.S. Seth Carpenter: Yeah, that's a really great point because I have seen some estimates where people say, "Well, if it wasn't for AI CapEx, the U.S. economy wouldn't have grown at all." And that's clearly wrong, as you point out. But U.S. imports are necessarily exports from somewhere else. And, Chetan, if I can pull you into the story then, U.S. firms are buying a lot of AI-related equipment from Asia. What does that mean in your part of the world? And in particular, I'm thinking about Korea, Taiwan, and maybe some other economies in Asia. What's the critical story there? Chetan Ahya: So, for Asia, this has definitely been a big boon. If you look at Asia's exports, they have been booming, and particularly for the ones which are exporting semiconductors to the U.S. They are seeing semiconductor exports growing by 90 percent. And when we go back in time and compare Asia's semiconductor exports, it's very tightly linked to the U.S. IT CapEx. And it's not surprising when Mike Gapen mentions about the imports going up. It's on the other side, helping Asia's exports quite meaningfully. So, so far, we've seen this benefiting Korea, number one, Taiwan, and also Japan. All these three are big beneficiaries of U.S. AI CapEx. And of course, also not just U.S., but the other countries which are doing any little amount of CapEx on AI front, that's also helping these three economies in the region. Seth Carpenter: You've been doing a lot of work, Chetan, recently about how much the story can actually broaden out, that the AI CapEx cycle has really contributed to Asian growth, but it doesn't tell the whole story that there's a broader industrial cycle. Can you give us a little bit of a flavor of that story? Chetan Ahya: That's right, Seth. So, we are actually highlighting that there is a CapEx and industrial super cycle that is underway in Asia, and there are four components to this story. AI and semiconductors CapEx, which we just briefly discussed. Number two is energy. Number three is defense. And number four is industrial supply chain onshoring related CapEx. I know that everybody still thinks that AI is the most important part of this story, but when I give you the numbers and the breakup of that... So, for Asia, AI and semiconductor companies CapEx is about $380 billion in 2026, but energy CapEx is going to be $900 billion. So, this is a far broader story than just AI for Asia. Seth Carpenter: Mike, let me come back to you and to the U.S. then. So, isn't the growth story also broader than that as well domestically? So, what's going on in terms of consumer spending in the U.S., and is there a broader CapEx story in the U.S. as well? Michael Gapen: I would say, is it broader than that? I think maybe you could argue also it's narrower than that. Here's what I mean by that. As I noted AI CapEx contributing about 40 basis points to growth, it's certainly underpinning equity valuations in the U.S. and underpinning strong wealth creation. So about [$]180 trillion in household net worth in the U.S. About [$]55 trillion of that has been created in just the last five years alone, underpinned in part by AI-related spending and optimism about future profitability. That's really supported spending by upper income households. So, I think it's both investment-led and consumer-led, but they're inextricably linked. So, the positive for the U.S. is that it's providing a lot of resilience. The negative component of that is it feels like momentum in the U.S. is narrowly driven. Jens Eisenschmidt: Let me maybe jump in here from Europe to provide some perspective from the other side. So, I think it's a fair summary to say that AI investment is not yet, or maybe will never get there, dominating the business cycle. What we do have instead is an unusually consumption-driven expansion. That has to do not so much with an extraordinary strength of consumption, but more of an absence of other factors. Now, prospectively looking forward, we think the fiscal expansion might help lifting us a little bit. And then it is really the debate how much AI investment can arrive in Europe. For now, I would say it's probably a factor of 20 that separates European investment plans from the plans we know that exist for the U.S. Seth Carpenter: Let me stick with you then in Europe because you brought up fiscal as one of the factors going on here and where it's going… You and your team recently wrote a blue paper talking about what the outlook is for fiscal policy in Europe, and in particular, we had this era of cheap debt. Interest rates in Europe were low, at times negative. It was super easy to borrow. Not as much happened then. There's been a shift towards more fiscal expansion at the same time that interest rates have gone up, causing the cost of debt to go up. Feels like there's a lot of push and pull going on. Can you unpack for us a little bit what was in that paper you wrote, what's going on with fiscal policy in Europe, especially in Germany? And what it might mean over time for Euro-area countries? Jens Eisenschmidt: Yeah, so I think fiscal policy in Europe really is looking at a regime shift. So, there is this very famous, probably in the U.S. even more so than here, notion that the Europeans have built a very comfortable welfare state. And that's true if you just look at the accounting from a GDP perspective. It's close to 50 percent that, you know, budgets are actually extended on welfare spending. And now you have three structural headwinds for any type of fiscal spend. So, one is aging related costs, you mentioned it already. Defense spending has to increase significantly, and the interest rate costs will also rise significantly. All of that means there will be very hard choices to be made. The one thing that actually could help here is growth. Growth is the one thing that's, for now at least, missing, at least in comparison to the U.S. It's probably half what we expect, what the U.S. colleagues think is in stake for the U.S., and a quarter or even less than that of what is there in Asia. So, growth is really the key, the solution, the answer to everything in Europe. More growth than just 1 percent, which is potential, would help solving that fiscal challenge. For now, it looks really, really like an uphill battle. Returning to Germany, it's the one country that has a very good fiscal starting position. They are pushing a lot but they're to some extent pushing a string. So, even with the German huge fiscal package, given that private sector investments so far are absent, doesn't get us a ton of growth. Seth Carpenter: Chetan, maybe I'll come back to you before we close part one of this roundtable. The AI CapEx cycle started with AI, broadened out further. How long do you expect this cycle to last? How durable can it be? And how might it compare to previous CapEx cycles? Chetan Ahya: Yeah, Seth. So, we think this will be a multi-year CapEx cycle. And when we are thinking about the duration of the cycle, there are two things that I would keep in mind. Number one is that most of the drivers that we just discussed – the CapEx on AI, energy, defense, and industrial supply chain onshoring related investments – these are all structural drivers. So, we think these are going to continue for some more time. At this point of time, we have the visibility for this cycle to be lasting for three-four more years. And then the second point of framework that I would keep in mind is that the corporate balance sheets are in a pretty good shape. So, when you are thinking about the leverage in the private sector, you can look at both households and the corporate sector balance sheet. But since the cycle is CapEx driven, we are looking at the corporate balance sheets, and they are in a pretty good shape. Across the region, corporate debt to GDP is below where it was in 2019. Seth Carpenter: Mike, let me, let me wrap up quickly with you. We talked about AI, AI CapEx. For now, that's a very strong demand story. When are we going to see a supply side of things coming from AI? Are you already seeing a big contribution to GDP and growth from productivity coming from AI? Michael Gapen: We are, but not outside of the high-tech sectors, and we're seeing limited, what I'll call labor market restructuring of tasks and occupations beyond high AI-exposed occupations. So right now, everything is still very isolated I think maybe as we get into 2029 and beyond, so as Chetan says, we probably have a three to four-year super cycle here around a build-out phase. Then we might see some of that broader-based diffusion to other non-tech sectors in the economy. Seth Carpenter: All right, Jens, for you, let's wrap up here. So, what is the state of play for the build-out in the CapEx cycle for AI in Europe? Jens Eisenschmidt: Yeah, it's very early stages. As I said before, we really; we connected to all the industry experts or analysts covering the sector and the total plans are a factor of 20 below what we see in the U.S. by just the seven hyperscalers. So, I would say very fragmented, very small, in general. Not only AI. I think the one thing I would be looking at for any type of sign of revival, sign of growth is investment. The second would be investment. And you can guess what the third would be… Investments in the core countries. That's really what we need to see, and we haven't seen much in Germany or France on this front. Seth Carpenter:That's a great place for us to stop today. We talked about the real side of the economy, AI, CapEx, trade. Tomorrow we're going to come back, and we'll talk about how that growth outlook affects inflation. And once you start talking about growth and inflation, you got to talk about policy, and that's where we'll be tomorrow. Mike, Jens, and Chetan, thank you for joining today. And for the listeners, thank you for listening. Be sure to tune in tomorrow for Part 2 of our conversation. And I have to say, if you enjoy this show, please leave us a review wherever you listen, and share Thoughts on the Market with a friend or a colleague today.

The Big Tech companies driving the AI boom are expected to spend more than $700 billion on data center infrastructure this year. To finance this spending spree, they're increasingly looking to debt. Hyperscalers like Alphabet, Oracle, and Meta have been issuing corporate bonds at a scale the industry has never seen — nearly a quarter of a trillion dollars this year so far. The bond market could be considered a less risky way than stocks for investors to get a piece of the AI hype. To explain what the flood of AI debt means for the bond market, we're joined by Julie Ask, an independent industry analyst at Ask Advisory. More on this: “The Quarter-Trillion-Dollar Onslaught of AI Bonds Is Testing Investors' Limits” from the Wall Street Journal “AI has taken over the stock market. The bond market is next.” from The Economist

The Big Tech companies driving the AI boom are expected to spend more than $700 billion on data center infrastructure this year. To finance this spending spree, they're increasingly looking to debt. Hyperscalers like Alphabet, Oracle, and Meta have been issuing corporate bonds at a scale the industry has never seen — nearly a quarter of a trillion dollars this year so far. The bond market could be considered a less risky way than stocks for investors to get a piece of the AI hype. To explain what the flood of AI debt means for the bond market, we're joined by Julie Ask, an independent industry analyst at Ask Advisory. More on this: “The Quarter-Trillion-Dollar Onslaught of AI Bonds Is Testing Investors' Limits” from the Wall Street Journal “AI has taken over the stock market. The bond market is next.” from The Economist

We endure the ravages of time to deliver you this exhausted Supplementary Material. Bowed but never broken, the decoders persist.The full episode is available to Patreon subscribers (Full Episode: 2hr 20 mins)Join us at: https://www.patreon.com/DecodingTheGurusSupplementary Material 5300:23 Introduction: Matthew the Succulent's Post-Holiday Report02:15 Pickle Ball Injuries & Bouldering Curses07:40 They Won't Let You Talk about Middle-Aged Sports Injuries08:37 New AI Models09:31 Cory Doctorow, Trevor Noah, and Confirmation Bias23:45 The Glorious Past and the Terrible Present28:28 The Horror of Tinned Asparagus30:26 The Collapse of Industries & Stores36:16 Negativity Bias37:11 AI Prompting 10144:30 AI and Research Applications50:28 Nigel Farage vs Count Binface59:10 Nigel Farage Knighted on Russia Today01:02:53 Hasan's Advice for Ukrainians01:07:51 Russian Apologetics01:13:32 Vlad Vexler and soft Anti-Vaxx rhetoric01:19:35 Guru Red Flags01:23:48 Bret Weinstein in 2020 on Vaccines01:28:53 Gary vs Piers Morgan01:30:58 Piers Morgan being a blustering idiot about Elon Musk01:36:55 Gary's Pitch01:41:55 Alternative Tax Proposals01:46:18 Matt and Chris' Economics01:47:22 Gary's Wealth01:52:07 Piers the sleazy liar01:55:25 Gary is the best inequality economist in the UK01:57:08 Gary's Predictions02:00:40 Gary is Very Tired02:07:14 A message from anyone else to finish?02:14:25 Final Takeaways02:16:55 Matt attempts to wrangle another holidayLinksThe Verge: China delivers a one-two punch to America's AI dominance What Now? with Trevor Noah: Why Google, Apple & Big Tech Keep Making Everything Worse — Cory Doctorow and Trevor NoahBaumeister, R. F., Bratslavsky, E., Finkenauer, C., & Vohs, K. D. (2001). Bad is stronger than good. Review of general psychology, 5(4), 323-370.Count Binface on BBC Morning Live — full interviewCount Binface on NewsnightHasan offers Ukraine his advice to “give peace a try”Report on polling from Ukraine in 2025 that does not show what Hasan claimsReport on more recent polling that still does not show what Hasan claimsVlad Vexler tweets about vaccinesBret's Tweets in 2020 on Vaccines (and here)Chris noting Bret's anti-vaccine rhetoric in 2020 (see the comments under the tweet)Kyiv International Institute of Sociology: Ukrainian views on exchanging Donbas for security guaranteesDecoding Academia 34: Matt and Chris' EconomicsPiers Morgan Uncensored: “I'm QUITTING!” Gary Stevenson vs Piers Morgan on Wealth, Economic Growth & Elon Musk

The Consumers Price Index (CPI) has increased 4.1% in the 12 months to the June 2026 quarter, according to figures released by Stats NZ today. As expected, the increase can be partially contributed to the US-Iran war as the largest upwards contributor to the annual inflation rate was petrol, up 27.5%. Finance Minister Nicola Willis is labelling annual inflation hitting its highest level in more than two years a “Trump spike”. Former Reserve Bank senior economist Michael Reddell told Andrew Dickens that economists don't tend to look at the headline numbers but they will be digging through the numbers to find trends. "It's a bit like the famous line about democracy, you know, it's not a perfect system, it's just better than any of the alternatives that have been tried, and inflation targeting is a bit like that as well. It's definitely not perfect." LISTEN ABOVE See omnystudio.com/listener for privacy information.

Andy Burnham faces tough challenges as Britain's new prime minister, both within his party and the country at large. Our correspondent analyses his prospects. After years of strife, how can Syria be rebuilt? And food markets have changed New York.Guests and host:Hugo Gye, Britain political correspondentGareth Browne, Middle East correspondentAnnie Crabill, senior digital editorRosie Blau, co-host of “The Intelligence”Topics covered: Andy Burnham, Keir Starmer, prime ministerSyria, Ahmad al-Sharaa, AssadNew York, street markets, farmers' marketsListen to what matters most, from global politics and business to science and technology—subscribe to The Economist. Hosted on Acast. See acast.com/privacy for more information.

Andy Burnham faces tough challenges as Britain's new prime minister, both within his party and the country at large. Our correspondent analyses his prospects. After years of strife, how can Syria be rebuilt? And food markets have changed New York.Guests and host:Hugo Gye, Britain political correspondentGareth Browne, Middle East correspondentAnnie Crabill, senior digital editorRosie Blau, co-host of “The Intelligence”Topics covered: Andy Burnham, Keir Starmer, prime ministerSyria, Ahmad al-Sharaa, AssadNew York, street markets, farmers' marketsListen to what matters most, from global politics and business to science and technology—subscribe to The Economist. Hosted on Acast. See acast.com/privacy for more information.

SPONSORS: - Go to https://www.plaud.ai/curt and use the promo code "CURT" to get a Plaud device today - I personally subscribe to The Economist. TOE listeners get 35% off the annual subscription. No other podcast has this! https://economist.com/TOE This is a podcast all about parallel universes, and whether we have any right to believe in them. David Wallace, professor of philosophy of science at the University of Pittsburgh and a leading defender of the Many Worlds Interpretation, joins Professor Emily Adlam, his former student, for a rare joint conversation. The central fault line: Adlam argues no one living inside a many-worlds universe could ever rationally confirm the theory describing it, since Everettian probability may undermine the evidence used to support quantum mechanics itself. Wallace disagrees, but takes the challenge seriously. From there they range across the nature of the wave function, relational quantum mechanics, QBism, and scientific intersubjectivity — two sharp, collegial minds disagreeing productively about what kind of universe we actually live in. TIMESTAMPS: - 00:00:00 - Wave Function Ontology - 00:05:35 - Everettian Probability Problem - 00:11:45 - Relational Quantum Mechanics Limits - 00:19:15 - Quantum Gravity Frameworks - 00:24:50 - Subsystem Decomposition Approximations - 00:31:10 - Testing Wavefunction Collapse - 00:38:35 - Scientific Intersubjectivity Crisis - 00:47:55 - Many Worlds Rationality Constraints - 00:58:50 - QBism and Physical Reality - 01:05:05 - Conservative Philosophy of Physics LINKS MENTIONED: - Emily Adlam's Papers: https://scholar.google.com/citations?user=RlTqjZMAAAAJ - David Wallace's Papers: https://scholar.google.com/citations?user=Z35CeHAAAAAJ - Pointer Basis Of Quantum Apparatus [Paper]: https://libertadacademica.com/Cuantica/ModernaHist/Zurek%20b.pdf - Information Is Physical [Paper]: https://arxiv.org/abs/2203.13342 - Relative Information, Relative Facts [Paper]: https://arxiv.org/abs/2510.11349 - What Kind Of Relationality Does Quantum Mechanics Exhibit? [Paper]: https://arxiv.org/abs/2502.06991 - Models Of Wave-Function Collapse, Underlying Theories, And Experimental Tests [Paper]: https://arxiv.org/abs/1204.4325 - On Gravity's Role In Quantum State Reduction [Paper]: https://link.springer.com/article/10.1007/BF02105068 - Real Patterns In Physics And Beyond [Paper]: https://philsci-archive.pitt.edu/23888/ - Learning To Represent [Paper]: https://philsci-archive.pitt.edu/23224/1/learning_to_represent.pdf - Operational Theories As Structural Realism [Paper]: https://arxiv.org/abs/2201.09316 - Relational Quantum Mechanics [Paper]: https://arxiv.org/abs/quant-ph/9609002 - Measurement Outcomes And Probability In Everettian Quantum Mechanics [Paper]: https://www.sciencedirect.com/science/article/abs/pii/S1355219806000694 - Quantum Probability From Subjective Likelihood [Paper]: https://arxiv.org/abs/quant-ph/0312157 More links (past guest episodes) at https://curtjaimungal.substack.com FOLLOW: - Spotify: https://open.spotify.com/show/4gL14b92xAErofYQA7bU4e - Substack: https://curtjaimungal.substack.com/subscribe - Twitter: https://twitter.com/TOEwithCurt - Discord Invite: https://discord.com/invite/kBcnfNVwqs - Crypto: https://nowpayments.io/donation/TOE - PayPal: https://www.paypal.com/donate?hosted_button_id=XUBHNMFXUX5S4 Guests do not pay to appear. #science Learn more about your ad choices. Visit megaphone.fm/adchoices

******Support the channel******Patreon: https://www.patreon.com/thedissenterPayPal: paypal.me/thedissenterPayPal Subscription 1 Dollar: https://tinyurl.com/yb3acuuyPayPal Subscription 3 Dollars: https://tinyurl.com/ybn6bg9lPayPal Subscription 5 Dollars: https://tinyurl.com/ycmr9gpzPayPal Subscription 10 Dollars: https://tinyurl.com/y9r3fc9mPayPal Subscription 20 Dollars: https://tinyurl.com/y95uvkao ******Follow me on******Website: https://www.thedissenter.net/The Dissenter Goodreads list: https://shorturl.at/7BMoBFacebook: https://www.facebook.com/thedissenteryt/Twitter: https://x.com/TheDissenterYT This show is sponsored by Enlites, Learning & Development done differently. Check the website here: http://enlites.com/ Turi Munthe is a journalist and policy analyst turned media entrepreneur and writer. As a journalist and Middle East policy analyst, Turi has written for the Economist, Guardian, TLS, THES, the Nation, Spectator, and many others. He has appeared on the BBC, Fox, CNN, al-Jazeera, NBC and others, and given lectures at universities all over the world - Oxford, Sciences Politiques Paris, CUNY, and elsewhere. He has also advised governments across Europe and the Middle East. He is the author of Why We Think What We Think: The Unexpected Origins of Our Deepest Beliefs. In this episode, we focus on Why We Think What We Think. We talk about what opinions are, and the many factors that influence them. We explore the social aspects that predict people's opinions; climate and geography; why conventionally attractive people are more right-wing; and peanut butter preferences. We discuss a biological basis to political beliefs, the social functions of opinions, and tribalism. Finally, we talk about philosophy and science, and political radicalization and polarization.--A HUGE THANK YOU TO MY PATRONS/SUPPORTERS: PER HELGE LARSEN, BERNARDO SEIXAS, ADAM KESSEL, MATTHEW WHITINGBIRD, ARNAUD WOLFF, TIM HOLLOSY, HENRIK AHLENIUS, ROBERT WINDHAGER, RUI INACIO, ZOOP, MARCO NEVES, COLIN HOLBROOK, PHIL KAVANAGH, SAMUEL ANDREEFF, FRANCIS FORDE, TIAGO NUNES, FERGAL CUSSEN, HAL HERZOG, NUNO MACHADO, JONATHAN LEIBRANT, JOÃO LINHARES, STANTON T, SAMUEL CORREA, ERIK HAINES, MARK SMITH, JOÃO EIRA, TOM HUMMEL, SARDUS FRANCE, DAVID SLOAN WILSON, YACILA DEZA-ARAUJO, ROMAIN ROCH, YANICK PUNTER, CHARLOTTE BLEASE, NICOLE BARBARO, PAWEL OSTASZEWSKI, NELLEKE BAK, GUY MADISON, GARY G HELLMANN, SAIMA AFZAL, ADRIAN JAEGGI, JOÃO BARBOSA, JULIAN PRICE, HEDIN BRØNNER, FRANCA BORTOLOTTI, URSULA LITZCKE, SCOTT, ZACHARY FISH, TIM DUFFY, SUNNY SMITH, JON WISMAN, WILLIAM BUCKNER, LUKE GLOWACKI, GEORGIOS THEOPHANOUS, CHRIS WILLIAMSON, PETER WOLOSZYN, DAVID WILLIAMS, DIOGO COSTA, ALEX CHAU, CORALIE CHEVALLIER, BANGALORE ATHEISTS, LARRY D. LEE JR., OLD HERRINGBONE, DAN SPERBER, ROBERT GRESSIS, JEFF MCMAHAN, JAKE ZUEHL, MARK CAMPBELL, TOMAS DAUBNER, LUKE NISSEN, KIMBERLY JOHNSON, JESSICA NOWICKI, LINDA BRANDIN, VALENTIN STEINMANN, ALEXANDER HUBBARD, BR, JONAS HERTNER, URSULA GOODENOUGH, DAVID PINSOF, SEAN NELSON, MIKE LAVIGNE, JOS KNECHT, LUCY, MANVIR SINGH, PETRA WEIMANN, CAROLA FEEST, MAURO JÚNIOR, TONY BARRETT, NIKOLAI VISHNEVSKY, STEVEN GANGESTAD, TED FARRIS, HUGO B., JORDAN MANSFIELD, CHARLOTTE ALLEN, DAVID TONNER, PATRICK DALTON-HOLMES, NICK KRASNEY, RACHEL ZAK, DENNIS XAVIER, CHINMAYA BHAT, RHYS, ALEX MACLEOD, HAIDAR, JULIEN PORCHER, ROBERT SUNDSTRÖM, JON STEWART, AND JAMES DORLING!A SPECIAL THANKS TO MY PRODUCERS, YZAR WEHBE, JIM FRANK, ŁUKASZ STAFINIAK, TOM VANEGDOM, BERNARD HUGUENEY, CURTIS DIXON, THOMAS TRUMBLE, KATHRINE AND PATRICK TOBIN, JONCARLO MONTENEGRO, NICK GOLDEN, CHRISTINE GLASS, IGOR NIKIFOROVSKI, PER KRAULIS, ADAM HUNT, AND JOÃO BARBOSA!AND TO MY EXECUTIVE PRODUCERS, MATTHEW LAVENDER,SERGIU CODREANU, AND GREGORY HASTINGS!

Economists say households already feeling the squeeze from the cost of living could be about to face another blow. Many are expecting today's inflation figures to be at the highest level in two years, climbing to 4.1 percent in the year to June. Reporter Anna Sargent asked some people in Christchurch how they're feeling.

There's cautious optimism from economists that inflation will start falling after today. Stats NZ is releasing CPI figures for the June quarter later this morning, which is expected to largely reflect the impact of the Iran war, along with other cost pressures like rates and utility costs. Economists expect it surge to somewhere around 4%. BNZ Chief Economist Mike Jones told Mike Hosking that based on their forecasts, this should be the peak. He says next quarter BNZ predicts inflation to come down to 3.8%, before it tails away to be within the Reserve Bank's band in the middle of next year. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Gregg Carlstrom, Middle East Correspondent for The Economist

What impact do hormones have on women with ADHD? A pioneering study by Kings College and Queen Mary University in London is putting the link to the test, by asking 50 women who are medicated for their ADHD to track their menstrual cycle. Report academic Dr Jessica Agnew-Blais and Laura Mears-Reynolds from the charity ADHDAF+ join presenter Nuala McGovern to discuss why the research matters.This weekend Dalia Stasevska conducted the first night of the BBC Proms. The Finnish-Ukrainian Principal Guest Conductor of the BBC Symphony Orchestra also has a new album, Ukrainian Mixtape, recorded with the BBC Symphony Orchestra, showcasing rarely heard works. Dalia joins presenter Anita Rani to discuss her route into conducting and her passion for Ukrainian music.New analysis in The Economist suggests that, after years of progress, fewer women are reaching executive positions and there may also be signs that younger women are becoming less interested in promotion. Nuala speaks to the author of that report, Vinjeru Mkandawire, and Sanchia Neilson who left an executive role to rebalance her life.Australian surf and fashion photographer Cait Miers is photographing 1,000 women globally, bare-faced, for a project she has called Laugh Lines. Anita talks to Cait about her mission to challenge beauty standards and also Alexis Zahner, one of the first women to be photographed for the project.Actor Sarah Hadland will be a familiar face to many, having played numerous roles over the years, but is probably best known as Stevie in the BAFTA-nominated sitcom Miranda. Currently on stage in London's West End, she joins Nuala to discuss her latest role as Alice in The Truth, a fast-paced comedy of infidelity and duplicity.Presenter: Anita Rani Producer: Kirsty McQuire

In 1776 — that same year America declared its independence — Adam Smith published the equally revolutionary The Wealth of Nations, his founding explanation of national economic value. Two hundred and fifty years later, Tim O'Reilly argues in the free-market Economist that Elon Musk and his fellow tech barons are building a monarchical form of capitalism that the proto-democratic Smith would have hated. Musk, O'Reilly reports, believes that SpaceX will become “worth more than the rest of Earth”. The merchants are becoming princes, O'Reilly warns. And the rest of us are becoming peasants. Such is the road to serfdom in our AI age. So who should own the AI in our bewildering age of multi-trillion dollar start-ups like SpaceX, Anthropic and OpenAI? Or as That Was The Week publisher Keith Teare asks in his latest editorial, who should own the “intelligence” of our AI age? Keith uses a bottling plant as a metaphor to describe our dilemma. Since no single entity can own this intelligence — the sum total of our common experience — charging us for it would be like seizing the Earth's water supply and selling it back to us, Coca-Cola style, in plastic bottles. Except that the Hayekian Keith approves of the bottling process. Private companies, rather than governments, he argues, are most suited to doing this. For Keith, this dilemma is also an opportunity to redistribute the ownership of intelligence. He argues for a “Human Wealth Fund” into which every consequential AI company should put a slice of its equity. In the manner of Norway's sovereign wealth fund, this fund would be distributed to all citizens. Rather than Denmark, now we should become like Norway, a tiny homogenous nation with a cultural distaste for Muskian individual wealth. Not very realistic, I fear. On top of that, it's hard to imagine our tech princes collaborating on anything. Musk and Altman aren't on speaking terms while Altman and Amodei, who also loathe each other, are focused on their IPOs. Meanwhile, the Trump administration, which presumably would coordinate this fund, is pitching a $100,000-a-month fast feed of the president's posts. Keith's question, “who owns the intelligence”, is the right one. But the answer won't come from trickle-down funds set-up by our tech princes. Such supposed munificence is about as likely as America becoming Norway. Read the fine print of any “Human Wealth Fund” set up by Sam Altman and Elon Musk. As we should know all too well by now, when a “revolutionary” Silicon Valley gives stuff away, it turns out to be exorbitantly expensive. Free plastic bottles of intelligence, anyone? Five Takeaways •       Intelligence, Not AI. The week's framing shift: the word AI is too small, because AI is merely the tool for harvesting and delivering the thing itself — intelligence, the sum total of our common human experience. Keith argues the renaming is not semantic but political: the moment intelligence sits at the center of the discussion, everyone's opinion has to be shaped by what it actually is, and the idea that any single entity could own it starts to look as bizarre as owning the world's water supply. Andrew's rejoinder: they're still just words — though he concedes intelligence is the better one. •       Bottled Intelligence Is Good — The Question Is Who Benefits. Keith refuses the critic's role: bottling intelligence, like Google's bottling of the world's words into search, is a good thing, because only massively capitalized private companies can innovate at that scale — and between private entities and governments as owners of intelligence, he'll take the companies every time. What's wrong is the distribution of the benefits. Even insiders are complaining: Alex Karp is publicly angry at OpenAI and Anthropic's pricing, while China's Kimi K3 — released the day of recording and, Keith claims, better than Claude Fable — signals that very good models are about to get very cheap. •       Capitalism Adam Smith Would Hate. Tim O'Reilly argues in The Economist that Musk and his type are building a capitalism Smith would despise — founders as monarchs, a point Henry Farrell reinforces with a slide from Peter Thiel's startup class placing the king of a monarchy and the founder of a startup side by side. Keith's response is characteristically unsentimental: Smith would have hated everything since the Federal Reserve, and the founder-king structure — Larry and Sergey's voting shares, Zuckerberg's special rights, corporations bigger than countries with user bases bigger than China — is simply the stage of capitalism we're at. The question is whether there's a path from here to somewhere better. •       The Human Wealth Fund. Keith's path comes in two versions: government-down, a sovereign wealth fund holding AI equity for every citizen; or company-up, the AI companies voluntarily endowing a global fund — and it only takes one to move first, because everyone else would have to react. His proxy is Norway, where every citizen benefits from ownership — not payouts, ownership — in the oil fund; AI revenues, unlike Norwegian oil, could eventually drive most of a doubled global GDP. His critique of the Brynjolfsson economists' much-signed statement is that “must act now” is vacuous: he'd have added a point four naming the actual mechanism. •       The Bet. Andrew's counter-case: Musk and Altman loathe each other, the mob hates AI so thoroughly that no pro-AI politician can survive, the states from Newsom's California to Florida are embracing nothing, New York just enacted the first data center moratorium, and the founders — eyes on their IPOs — are in the pockets of the banks. Hence the wager: 5% of the Teare Wealth Fund says no Human Wealth Fund this year, and none in the twenties. Keith declined the bet, on principle: he's an advocate, and only through advocacy does public opinion change. As Andrew put it: keep fighting the good fight — maybe one of the crazy ideas will stick. About the Guest Keith Teare is the founder and editor of the That Was The Week tech newsletter, and Andrew's weekly co-host. A British-born Silicon Valley entrepreneur and investor, he was a co-founder of TechCrunch and runs the Palo Alto–based venture firm SignalRank. He and Andrew have been arguing about technology — productively — every week for years. References: •       That Was The Week — Keith's newsletter; this week's editorial argues that the word AI is too small, and that the central question of the age is who owns intelligence. •       Tim O'Reilly in The Economist — on Elon Musk building a form of capitalism that Adam Smith would hate, quoting Musk's claim that SpaceX will become worth more than the rest of the Earth. •       Henry Farrell — the big tech critic's companion piece, featuring the slide from Peter Thiel's startup class that plac...

This week, feuding between some of the biggest tech companies spilled into public view. We discuss Apple's accusation that OpenAI tried to steal secrets about Apple's hardware business, as well as share our reactions about OpenAI's new model, Sol, and Anthropic's decision to extend access to its model Fable. Then, we unpack the loudest warning yet about A.I. and jobs. We talk with Erik Brynjolfsson, a Stanford economist, about a statement he helped organize that implores economists and A.I. researchers to “act now” to steer A.I. in a direction that complements humans. And finally, we play a round of HatGPT.   Guest: Erik Brynjolfsson, senior fellow at the Stanford Institute for Human-Centered A.I., and director of the Stanford Digital Economy Lab.   Additional Reading: Apple Sues OpenAI, Accusing It of Stealing Company Secrets OpenAI's First Device Will Be Movable, Screenless Speaker Built as A.I. Companion Nearly 200 Economists and Tech Leaders Warn of A.I. Threats The loudest warning about A.I. and jobs yet OpenAI Is Showing Kalshi's World Cup Odds in ChatGPT New York Enacts Nation's First Statewide Moratorium on Data Centers Brown Professor Suspects Majority of His Class Used A.I. to Cheat MiniMax CEO Vows to Forgo Salary Until Achieving A.G.I. Lorde Speaks Out — With Expletives — Against A.I. Glasses Nearly 6 in 10 Young Women Get Health and Wellness Information from Influencers Meta Removes A.I. Feature on Instagram After Days of Backlash   We want to hear from you. Email us at hardfork@nytimes.com. Find “Hard Fork” on YouTube and TikTok. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify. You can also subscribe via your favorite podcast app here https://www.nytimes.com/activate-access/audio?source=podcatcher. For more podcasts and narrated articles, download The New York Times app at nytimes.com/app. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Binyamin Netanyahu's government will, unusually, serve out its full term. What comes after October's election will decide what kind of Israel will emerge. Our correspondent asks whether the World Cup will be remembered more for the dramas on the pitch or off it. And a tribute to A23a, the world's largest iceberg, after it melts away at last.Guests and host:Josie Delap, Middle East editorJon Fasman, senior culture correspondentAnn Wroe, obituaries editorJason Palmer, co-host of “The Intelligence”Topics covered: Israeli election, Binyamin NetanyahuWorld Cupicebergs, climateWatch extended clips from Insider here. And listen to what matters most, from global politics and business to science and technology—subscribe to The Economist. Hosted on Acast. See acast.com/privacy for more information.

Binyamin Netanyahu's government will, unusually, serve out its full term. What comes after October's election will decide what kind of Israel will emerge. Our correspondent asks whether the World Cup will be remembered more for the dramas on the pitch or off it. And a tribute to A23a, the world's largest iceberg, after it melts away at last.Guests and host:Josie Delap, Middle East editorJon Fasman, senior culture correspondentAnn Wroe, obituaries editorJason Palmer, co-host of “The Intelligence”Topics covered: Israeli election, Binyamin NetanyahuWorld Cupicebergs, climateWatch extended clips from Insider here. And listen to what matters most, from global politics and business to science and technology—subscribe to The Economist. Hosted on Acast. See acast.com/privacy for more information.

While there are considerable crosscurrents on both the growth and inflation fronts, our views remain squarely focused on resilient global growth (with risks biased to the upside) and a 2H26 global inflation profile that downshifts to a still elevated level.       Speakers: Bruce Kasman Joseph Lupton   This podcast was recorded on 17 July 2026.   This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

We take a peek into a quirk of British politics as the country's populist-right polling leader goes up against a man who wears a bin on his head. It is more serious than it sounds. Africans tired of shoddy internet services are turning to Starlink—for a price. And our culture editor reviews an anachronism-laden take on a classic epic.Guests and host:Hugo Gye, British political correspondentỌrẹ Ogunbiyi, Africa correspondentCatherine Nixey, culture correspondentJason Palmer, co-host of “The Intelligence”Topics covered: Nigel Farage, Count Binface, British politics, farceAfrica's internet infrastructure, Starlink“The Odyssey”, Christopher NolanListen to what matters most, from global politics and business to science and technology—subscribe to The Economist. Hosted on Acast. See acast.com/privacy for more information.

We take a peek into a quirk of British politics as the country's populist-right polling leader goes up against a man who wears a bin on his head. It is more serious than it sounds. Africans tired of shoddy internet services are turning to Starlink—for a price. And our culture editor reviews an anachronism-laden take on a classic epic.Guests and host:Hugo Gye, British political correspondentỌrẹ Ogunbiyi, Africa correspondentCatherine Nixey, culture correspondentJason Palmer, co-host of “The Intelligence”Topics covered: Nigel Farage, Count Binface, British politics, farceAfrica's internet infrastructure, Starlink“The Odyssey”, Christopher NolanListen to what matters most, from global politics and business to science and technology—subscribe to The Economist. Hosted on Acast. See acast.com/privacy for more information.

Olivia Fox Cabane reveals the behaviors and practices that help develop your personal charisma.— YOU'LL LEARN — 1) The number one myth surrounding charisma 2) How to amplify your presence in just a few seconds3) The master key to looking and feeling more powerfulSubscribe or visit AwesomeAtYourJob.com/ep1167 for clickable versions of the links below. — ABOUT IAN — Olivia Fox Cabane is a leading authority on the science of charisma and the bestselling author of The Charisma Myth and The Net And The Butterfly, translated into 36 languages. Formerly Director of Innovative Leadership for Stanford StartX, she has lectured on charisma, leadership, and innovation at Harvard, Yale, MIT, the Marine War College, and the United Nations. As cofounder of the KindEarth.Tech Foundation, she supports foodtech companies advancing environmental sustainability. Her clients include the leadership of Apple, Google, TikTok, Deloitte, UBS, and JP Morgan as well as founders of Airbnb, Brex, Paradigm, and Presight. She has been featured in The New York Times, The Economist, and The Wall Street Journal. • Book: The Charisma Myth: How Anyone Can Master the Art and Science of Personal Magnetism• Meditation: The Charisma Myth Exercises: Metta• Website: AskOlivia.com— RESOURCES MENTIONED IN THE SHOW — • Study: “Case Report: Women, Be Aware that Your Vocal Charisma can Dwindle in Remote Meetings” by Ingo Siegert and Oliver Niebuhr• Study: “Organizational Behavior and Human Decision Processes” by Jane M. Howell and Peter J. Frost• Study: “Predictors of leadership: The usual suspects and the suspect traits” by John Antonakis• Researcher: Dr. Oliver Niebuhr• Microphone: Maono HD300T• YouTube: Podcastage• Book: Influence: The Psychology of Persuasion by Robert Cialdini• Book: Radical Acceptance: Embracing Your Life With the Heart of a Buddha by Tara Brach— THANK YOU SPONSORS! — • Shopify. Sign up for your free trial at Shopify.com/awesomepod• Monarch. Get 50% off your first year with code AWESOME at Monarch.comSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The sketch of a deal to end the war is all but dead; oil is up as strikes rain down. We look at the options available to America—all of them bad. India's government websites are almost universally impossible to use; we look at the structural reasons behind the bad IT. And the growth of summer camps for adults. Listen to our “The Weekend Intelligence” episode on kidulting.Guests and host:Gregg Carlstrom, Middle East correspondentLeo Mirani, Ashoka columnistRachel Mayman, senior audience editor Jason Palmer, co-host of “The Intelligence”Topics covered: Iran war, Strait of HormuzIndia's government, ITsummer camps, kidultingListen to what matters most, from global politics and business to science and technology—subscribe to The Economist. Hosted on Acast. See acast.com/privacy for more information.

The sketch of a deal to end the war is all but dead; oil is up as strikes rain down. We look at the options available to America—all of them bad. India's government websites are almost universally impossible to use; we look at the structural reasons behind the bad IT. And the growth of summer camps for adults. Listen to our “The Weekend Intelligence” episode on kidulting.Guests and host:Gregg Carlstrom, Middle East correspondentLeo Mirani, Ashoka columnistRachel Mayman, senior audience editor Jason Palmer, co-host of “The Intelligence”Topics covered: Iran war, Strait of HormuzIndia's government, ITsummer camps, kidultingListen to what matters most, from global politics and business to science and technology—subscribe to The Economist. Hosted on Acast. See acast.com/privacy for more information.

Gregg Carlstrom, Middle East correspondent at The Economist, discusses his latest reporting on what the Trump administration could potentially do to reopen the Strait of Hormuz during the ongoing war with Iran. Photo: This picture shows ships sailing near the Strait of Hormuz off the eastern coast of the United Arab Emirates at Khor Fakkan on July 13, 2026. The United States is "taking over" the Strait of Hormuz and will be paid for protecting it, US President Donald Trump declared on July 13, as Washington and Tehran once again fought over the vital waterway. (Photo by AFP via Getty Images) /     Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Myanmar's jailed leader has not been seen since 2022. We ask if she is in fact alive, and what might happen if the military junta acceded to demands for her release. We examine Turkey's plan to turn the war in Iran to its advantage. And delving into the research on just how much sleep is enough—and too much.Guests and host:Aaron Connelly, Asia diplomatic editorCerian Richmond-Jones, international economics correspondentSam Wikeley, science correspondentJason Palmer, co-host of “The Intelligence”Topics covered: Aung San Suu Kyi, MyanmarTurkey, economics, Iran warsleep, scienceListen to what matters most, from global politics and business to science and technology—subscribe to The Economist. Hosted on Acast. See acast.com/privacy for more information.

Myanmar's jailed leader has not been seen since 2022. We ask if she is in fact alive, and what might happen if the military junta acceded to demands for her release. We examine Turkey's plan to turn the war in Iran to its advantage. And delving into the research on just how much sleep is enough—and too much.Guests and host:Aaron Connelly, Asia diplomatic editorCerian Richmond-Jones, international economics correspondentSam Wikeley, science correspondentJason Palmer, co-host of “The Intelligence”Topics covered: Aung San Suu Kyi, MyanmarTurkey, economics, Iran warsleep, scienceListen to what matters most, from global politics and business to science and technology—subscribe to The Economist. Hosted on Acast. See acast.com/privacy for more information.

The longtime South Carolina senator died suddenly at the weekend. His political arc mirrored that of his Republican party in the Trump era. We ask what his death leaves behind. Frontier AI models opaquely embody a worldview and set of values; we poke the big ones, asking what they believe. And why Old Master paintings are again so popular. Guests and host:Adam Roberts, foreign editorSondre Solstad, senior data journalistAlexandra Suich Bass, culture editorJason Palmer, co-host of “The Intelligence”Topics covered: Lindsey Graham, Republican party, American foreign policyAI frontier models, valuesart market, Old MastersListen to what matters most, from global politics and business to science and technology—subscribe to The Economist. Hosted on Acast. See acast.com/privacy for more information.

The longtime South Carolina senator died suddenly at the weekend. His political arc mirrored that of his Republican party in the Trump era. We ask what his death leaves behind. Frontier AI models opaquely embody a worldview and set of values; we poke the big ones, asking what they believe. And why Old Master paintings are again so popular. Guests and host:Adam Roberts, foreign editorSondre Solstad, senior data journalistAlexandra Suich Bass, culture editorJason Palmer, co-host of “The Intelligence”Topics covered: Lindsey Graham, Republican party, American foreign policyAI frontier models, valuesart market, Old MastersListen to what matters most, from global politics and business to science and technology—subscribe to The Economist. Hosted on Acast. See acast.com/privacy for more information.

This Week In Startups is made possible by: Quo https://quo.com/TWiST PayPal Open https://paypalopen.com Northwest Registered Agent https://northwestregisteredagent.com/twist Today's show: *Jason spent $11 building out PodMeme, an AI tool that tracks down the best segments from top podcasts about a specific topic, then stitches them together into a single stream. His post laying out how he did it, featuring a simple screenshot of the product, got all the way to 1.1M views in just a few days. It's a simple fact: builders love to see what other people are building, and growing your new project "in public," sharing your journey on social media, is a great way to develop buzz around your product before it even exists. Today's guest Thibault "Tibo" Louis-Lucas walks us through how he grew products like Tweet Hunter and Taplio on his social media account, using social media buzz and a focus on tools for creators to very quickly expand to over $1M ARR. PLUS why Apple would only sue OpenAI if they knew they had them dead to rights… why Uber and Waymo are fighting over DC robotaxis… Jason's response to the public backlash against surveillance startup Flock Safety… and the guys remember iconic New Zealand actor Sam Neill. Guest: Tibo Louis-Lucas on X: https://x.com/tibo_maker Revid.ai: https://www.revid.ai/ Tweet Hunter: https://tweethunter.io/ Taplio: https://taplio.com/ Relevant Links: Lemlist: https://www.lemlist.com/ GRIN influencer marketing: https://grin.co/ TechCrunch: "Apple Sues OpenAI": https://techcrunch.com/2026/07/10/apple-sues-openai-over-alleged-trade-secret-theft/ We Must Act Now statement: https://www.wemustactnow.ai/ TechCrunch: "Uber's Robotaxi Lobbying Effort": https://techcrunch.com/2026/07/13/ubers-robotaxi-lobbying-effort-has-put-it-on-a-collision-course-with-waymo/ DC Autonomous Vehicle Deployment Authorization Amendment of 2026: https://www.billtrack50.com/billdetail/2003462 DoorDash: Meet Dot: https://about.doordash.com/en-us/dot Flock Safety: https://www.flocksafety.com/ DeFlock: https://deflock.org/ Gigazine: Flock accuses Deflock of being a "terrorist org": https://gigazine.net/gsc_news/en/20260209-flock-ceo-deflock/#gsc.tab=0 Unifi AI Security Systems: https://ui.com/physical-security Jason's PodMeme post: https://x.com/Jason/status/2076231055443440105 Jason responds to Justine Bateman: https://x.com/Jason/status/2076326740050206959 NYT Sam Neill obituary: https://www.nytimes.com/2026/07/13/movies/sam-neill-dead.html "Possession" trailer: https://www.youtube.com/watch?v=aLXW-oVbTxE FanEdit: https://fanedit.org/forums/news-publisher/ "Manhunter" trailer: https://www.youtube.com/watch?v=cLqHlg2fAnE HBO "The Man Will Burn" trailer: https://www.youtube.com/watch?v=kRhUYPtp6Ao Timestamps: 0:00 There's no air conditioning in Paris 7:27 Tibo Maker's "ship 1 product a week" challenge 9:24 The power of building products in public 10:59 Quo (formerly OpenPhone) - Quo gives you a clean, modern way to handle every customer call, text, and thread all in one place. Try it free at https://quo.com/TWiST 12:04 Excitement for JCal's "PodMeme" set-up 15:40 Compounding an audience and enlisting influencers 19:13 Your follower count is not important any more 20:59 PayPal - Built for payments, growth, and agentic. Paypal Open, built for all business. Visit https://paypalopen.com to get started 22:28 How Tibo got banned on LinkedIn twice 28:48 Apple sues OpenAI 30:59 Northwest Registered Agent - Get more when you start your business with Northwest. In 10 clicks and 10 minutes, you can form your company and walk away with a real business identity — Learn more at https://northwestregisteredagent.com/twist 38:44 How OpenAI should have handled the New York Times 45:10 DC's new robotaxi bill 52:06 Managing the AV and delivery-bot transition 53:23 Economists warn of AI job displacement 1:07:00 How Jason would fix Flock's messaging 1:17:26 Remembering Sam Neill 1:23:05 Lon's Dream AI edit 1:26:35 HBO's Burning Man docuseries   Subscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.com Check out the TWIST500: https://www.twist500.com Subscribe to This Week in Startups on Apple: https://rb.gy/v19fcp   Follow Lon: X: https://x.com/lons   Follow Alex: X: https://x.com/alex LinkedIn: ⁠https://www.linkedin.com/in/alexwilhelm   Follow Jason: X: https://twitter.com/Jason LinkedIn: https://www.linkedin.com/in/jasoncalacanis   Check out all our partner offers: https://partners.launch.co/   Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland   Check out Jason's suite of newsletters: https://substack.com/@calacanis   Follow TWiST: Twitter: https://twitter.com/TWiStartups YouTube: https://www.youtube.com/thisweekin Instagram: https://www.instagram.com/thisweekinstartups TikTok: https://www.tiktok.com/@thisweekinstartups Substack: https://twistartups.substack.com