91 Felony Counts and a Campaign to Run

Today, we’re sharing the newest episode from our collaborators over at the Big Take DC. They look at why Wall Street donors are waiting to weigh in on the GOP primary. Make sure you subscribe to the Big Take DC feed so you can get episodes like these every Thursday. Just look up Big Take DC, available wherever you listen to podcasts — And while you’re there, check out their reporting from the Iowa caucuses earlier this week.  ----------------------------------------------------------------------------------------------------------------- The biggest individual donors have been notably absent in the GOP primaries: Wall Street investors.  So far, big investors haven’t opened their wallets for Republican frontrunner and former President Donald Trump. But they haven’t rallied around any of his challengers, either. In fact, they’re just as fatigued by the options as everyday American voters, many of whom grimace at the thought of a rematch between Trump and President Joe Biden.  Bloomberg’s Saleha Mohsin talks with Kyle Bass, who is plugged into the world of political money and is close with major donors, and Bloomberg politics editor Laura Davison about what investors want out of the 2024 election, the impact of their donations and what their hesitancy means for this consequential election.Corrects to remove reference to billionaire in podcast and third paragraph.See omnystudio.com/listener for privacy information.

19 Jan 202420min

We here at The Big Take are big fans of our colleagues and friends over at the Odd Lots podcast, hosted by Joe Weisenthal and Tracy Alloway. Please enjoy this episode, and hop on over to subscribe to their feed if you like what you hear! ---- In the early 2010s, US shale players were producing oil like crazy, with no concerns about profitability. Then the legs were kicked out from the industry, causing a massive bust and massive oversupply. In 2021 and 2022, it looked like a very different story. Oil prices were surging and it seemed as though US players had found religion, learning how to maintain production discipline and improve profitability. But now we're in a new era that nobody saw coming: US oil production is booming. In in fact, it's at a record high. What's more, industry participants are actually making money at the same time. So how did they do it? And how did the prognosticators get things wrong? On this episode of the podcast, we speak with Bloomberg Opinion columnist and commodity specialist Javier Blas. We discuss the state of US supply and what it means for OPEC. We also talk about the rising tension in the Red Sea, as well as his reporting on the rise of electronic electricity trading in the European market.See omnystudio.com/listener for privacy information.

18 Jan 202440min

Last year, TikTok Shop officially launched in the US. It’s the latest commercial venture from ByteDance Ltd., the parent company that owns the social media app. By creating its own marketplace — where users can find and buy products without leaving the app — TikTok hopes to compete with giants like Amazon. And TikTok is not being shy about its ambitions: according to Bloomberg’s reporting, it aims to grow the size of its US e-commerce business to $17.5 billion this year. Small vendors like Scott McIntosh have been invited to TikTok Shop and encouraged to start live streaming their products, a tactic that has proven wildly popular in Southeast Asian TikTok Shop markets. Although skeptical of TikTok as a sales platform at first, McIntosh is now a believer. Will TikTok be able to win over the rest of the American e-commerce market?See omnystudio.com/listener for privacy information.

17 Jan 202412min

At over seven feet tall with an eight-foot wingspan, 20-year-old Victor Wembanyama is not your average NBA rookie. As a center on the San Antonio Spurs, Wembanyama’s fluidity and defensive prowess are already on full display. But his game isn’t the only thing that sets Wemby, as his fans call him, apart. Bloomberg’s sports business reporter Randall Williams crunched the numbers, and found that Wembanyama is on track to earn $1 billion from basketball contracts by the time he’s 33. It would make him the first professional basketball player to reach billionaire status just from playing the game. As Wembanyama considers new brand partnerships and the NBA negotiates new media deals, he could make his billion even sooner – unless an injury sets him back. With rare skills and this rare opportunity, Wemby just might make basketball history.See omnystudio.com/listener for privacy information.

16 Jan 20249min

Taiwan’s politics have long been defined by tensions with China, which claims the island as its own. Over the past several years, China has stepped up military exercises and Taiwanese leaders have responded by asserting the island’s self-rule — a tension that shows little sign of easing with the weekend’s election of current vice president Lai Ching-te to the presidency. Across Taiwan, individuals are formulating their own responses to the specter of conflict. Our previous Big Take episode showed one young military veteran’s determination to defend Taiwan set him on a tragic course to Ukraine. In this episode, Bloomberg reporters Wan Chien-Hua and Yang Yang explore those who are plotting flights to safety. Some attend civil defense fairs, which teach where to shelter and drill kids on five ways to protect from missile strikes (plug ears; open mouth). Others accumulate passports to foreign countries that may promise more peaceful lives.See omnystudio.com/listener for privacy information.

15 Jan 202419min

The Panama Canal moves roughly $270 billion dollars worth of cargo annually – it’s the trade route taken by 40% of all US container traffic alone. But the crucial waterway is contending with a crippling drought, worsened by climate change and infrastructure constraints. Water levels are so low that the Panama Canal Authority is restricting the number of ships that can pass through each day. As the line gets longer, shippers are paying to jump the line, or resorting to workarounds. Bloomberg reporter Peter Millard traveled to Panama to understand how the drought is snarling global shipping and impacting locals. Millard joined the Big Take podcast to share what could solve the canal’s water level issues: from the experimental ideas, to the politically fraught choice to build a new reservoir and flood neighboring lands. There are no easy fixes. But with a traffic jam this big, getting the canal flowing again is becoming more urgent. See omnystudio.com/listener for privacy information.

12 Jan 202410min

Iowa Governor Kim Reynolds gives an exclusive interview to Big Take DC just days before her state kicks off the 2024 presidential cycle. After months of debates and polling, the Iowa caucuses will be the nation's first state-level contest for the next Republican presidential nominee.Bloomberg’s Saleha Mohsin talks with Reynolds about why Ron DeSantis has her vote, and what she’ll do if Donald Trump becomes the party’s nominee.This interview has been condensed for clarity.See omnystudio.com/listener for privacy information.

11 Jan 202413min

Watching footage of Russian attacks on Ukraine, Jonathan Tseng thought: That could happen here, too. So from his home in Taiwan, Jonathan — Tseng Sheng-Guang in Chinese — resolved to take up arms against Russia. He left his wife, son and his beseeching mother in June 2022 to join the ranks of foreign fighters in Ukraine. His decision mirrored his own fears about unwelcome aggression on Taiwan, should China move beyond decades of warnings and threats, and into open conflict, against the island it claims as its own. Bloomberg reporter Yang Yang spent several months looking for and talking to Jonathan’s family, friends and fellow soldiers in Ukraine, in order to understand more about what drove a young Taiwanese man to battle a neighboring aggressor, and what happened to him there. See omnystudio.com/listener for privacy information.

11 Jan 202434min