Everybody's Business

• Wait, What Happened to Argentina’s Economy?

  This year came with a promising start for Argentina. Inflation seemed under control, investment was coming back, double-digit poverty was (according to the government) beginning to fall and President Javier Milei—the chainsaw wielding, leather jacket-wearing, self-described libertarian—was being hailed by supporters as a tough-love leader bringing the country’s economy back from crisis. Milei also became a favorite of fellow political travelers to the north, namely Donald Trump and Elon Musk. But the year hasn’t been kind to Argentina or its populist leader. Once again, the country finds itself in crisis—crushing debt, panicked investors and the threat of political instability. But this time the US is pledging to help. The Trump administration has offered its support, both in terms of money and encouraging investment in Argentine businesses. This week, Max and Stacey talk to David Papadopoulos, executive editor of markets, about what happened and whether Milei can turn the economy around. Also this week, Lucas Shaw joins the show to talk about two of the modern kings of digital: David Ellison, son of Oracle founder Larry Ellison, who quickly became one of the most important players in Hollywood when his company Skydance snapped up Paramount last month; and MrBeast, the YouTube breakout star who has built an empire on video stunts (and more recently chocolate bars) and whose company, Best Industries, after years of astonishing growth, is experiencing growing pains. The show also explores the latest fad in workplace culture: Quiet cracking. The combination of low hiring rates, increasing workplace unhappiness and an uncertain economy is squeezing workers to the limit. See omnystudio.com/listener for privacy information.

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• Is the Fed Really That Independent?

  On this week’s episode of Everybody’s Business we're joined by Rohit Chopra, former director of the now largely kneecapped Consumer Financial Protection Bureau. He argues that Trump’s efforts to apply political pressure to the Fed present an opportunity to scrutinize the central bank’s decision-making. Chopra points out that the Fed’s governors, who tend to either come from academia or Wall Street, originally came from a more eclectic array of backgrounds—with perhaps more sensitivity to the needs of small business owners and consumers. “I really think a good central bank is really good for democracy,” Chopra says. “But I think it has to also change with the times so that it is responsive and that it is not seen as a group of priests and priestesses who make determinations about our lives without really understanding how the economy is working on the ground.” Also this week, we bring in Bloomberg News reporter Randall Williams to unpack the story that is currently roiling the world of professional basketball: allegations that Los Angeles Clippers-owner Steve Ballmer improperly funneled payments to one of the team’s stars via a dubious (and now bankrupt) fintech company, Aspiration. Ballmer has denied the allegations, which first surfaced in an episode of the podcast Pablo Torre Finds Out. Aspiration’s co-founder has denied being party to any scheme to evade the salary cap. Williams explains why the story has garnered so much interest among NBA owners and how it illustrates the importance of salary caps in order to maintain competitive balance. Finally, we unpack a strange case of fake branding, involving the logo of Elon Musk’s aerospace company.See omnystudio.com/listener for privacy information.

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• Where Did the 1,000,000 Jobs Go?

  Not that long ago the US economy was wrestling with an interesting problem: jobs data looked very strong with historically low unemployment and historically low firings, but people didn’t feel good about the economy. The dissonance became known as the “vibecession” and was the topic of many economic and policy debates. The question was: Why do people feel bad about the economy when the economy is actually doing great? With help of revised data, we now know that the vibes were right. This week, the US Bureau of Labor Statistics—part of the Trump administration’s Department of Labor—released its latest data, which included a massive revision. The US economy created roughly 900,000 fewer jobs between March 2024 and March 2025 than previously thought, the BLS says. That means only about half the jobs we thought had been created actually materialized, according to the agency. How did this happen and what does this mean? This week, economist Kathryn Anne Edwards, host of the Optimist Economy podcast, joins us to talk about how a giant revision like this can happen, as well as how it reflects on the market and the economy. Also this week, Max Chafkin talks about his book The Contrarian, which looks at the world of Silicon Valley billionaire Peter Thiel. We discuss his influence and what it reveals about the intersection of technology, money and ideology. Also why he is suddenly so interested in the “antichrist.”See omnystudio.com/listener for privacy information.

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• The Business of KPop Demon Hunters

  This week we are joined by journalist and cultural commentator Sam Sanders, of the Sam Sanders Show, to unpack the lessons Hollywood is learning from its latest unexpected success: mega-viral sensation Kpop Demon Hunter. We discuss how Sony lost out on much of the movie's profits when it signed over the rights to Netflix–though arguably helped preserve its business during the Covid downturn by doing so–and how the success of KPop Demon Hunters at least partly vindicates Netflix CEO Ted Sarandos’ controversial claim that the experience of going to a movie theater is “outdated.” Sanders mostly agrees, suggesting that the theatrical experience will essentially go the way of opera–once a wildly popular medium that eventually settled into a narrow and extremely rarified niche. The songs are good too. We’re also joined by Odd Lots co-host Joe Weisenthal to fact check President Trump’s claim that the “stock market needs tariffs and ask college students about their AI habits as they head back to school. And, finally, we explain why, love them or hate them, tariffs are making your Pumpkin Spice Latte (not to mention any pumpkin spice cat litter you happen to buy this fall) more expensive.See omnystudio.com/listener for privacy information.

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• Fed Wars, Logo Wars and Love (Taylor’s Version)

  This week on Everybody’s Business from Bloomberg Businessweek, Editor Brad Stone and Stacey Vanek Smith talk Fed independence, Cracker Barrel, as well as the upcoming wedding that’s already moving markets. See omnystudio.com/listener for privacy information.

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