Everybody's Business
Bloomberg Businessweek presents a smart and fun chat show about business, hosted by journalists Max Chafkin and Stacey Vanek Smith. The show covers topics from Fed meetings to wolf cloning, offering insights from boardrooms and markets worldwide. Each week, the hosts and Bloomberg Businessweek reporters discuss the biggest stories in business and economics.
Episodes
Show Me The Money
Max and Stacey have caught the fever of Big Money. What does this moment of thousand-dollar sporting event tickets and trillion-dollar AI IPOs mean for middle class and retail spending? Bloomberg’s Katie Greifeld and Randall Williams join the show to make sense of the numbers. Plus, a theory behind the declining birth rate and a late-capitalist fragrance.See omnystudio.com/listener for priva
From the Phone Screen to the Silver Screen
Is YouTube the new film incubator? In the wake of two hit movies from internet native directors, Max, Stacey, and Bloomberg's Lucas Shaw figure out if the buzz around Backrooms and Obsession is a trend or a fluke. Plus, we check in on the Iran conflict and China’s role in it with Javier Blas, some clumsy alleged insider trading, and a couple different instances of international art theft.See
A Different Way to Lower Your Grocery Bill
Across the country, Americans are cutting back on groceries, but maybe they don’t have to. With an eye to one of New York City Mayor Zohran Mamdani’s signature initatives, Max and Stacey take you inside a city-run grocery store in Atlanta that keeps some prices low no matter its profit margins. And then, what’s the difference between art and slop? Max sits down with AI filmmaker
Is That T-Shirt Worth $100 Million?
This week, Puck fashion correspondent Lauren Sherman joins Max and Stacey to break down her latest scoop: direct-to-consumer pioneer Everlane has been acquired by fast-fashion giant Shein for $100 million. What does an opaque e-commerce behemoth want with a brand that built its name on "radical transparency?" Lauren unpacks the corporate irony and offers sanity-saving shopping advice for the ethic
Big Take Bonus: The $100 Billion Gen Alpha Economy
We here at Everybody’s Business are big fans of our colleagues and friends over at Big Take, Bloomberg’s daily news podcast. They just released and episode hosted by our very own Stacey Vanek Smith and we'd love to share it. Please enjoy, and hop on over to subscribe to their feed if you like what you hear!——The oldest Gen Alphas are still in high school, but some of the ea
A Stock Market of Amazonian Proportions
Amazon is everywhere, from your doorstep to outer space. So, what is the current state of the Everything Store? This week, Max and Stacey look at the company that is more utility than retailer with Bloomberg Businessweek editor-in-chief Brad Stone. Plus, have you wondered why the stock market has been doing so well even though lots of things don't seem to be going great at home or abroad? Author a
What’s the Deal With Summer Travel? Live With Brian “The Points Guy” Kelly and Nikki Ekstein
Summer travel this year is shaping up to be an absolutely expensive, chaotic, shrill time. Luckily, we have the cheat codes for avoiding (some of) it. Recorded live at the Ludlow House in New York City for On Air, Max Chafkin and Stacey Vanek Smith, tap Bloomberg travel czar Nikki Ekstein and The Points Guy’s Brian Kelly to provide some understanding, wisdom and good old fashioned travel hac
See you in Court
This week Max and Stacey look at two legal battles reshaping the worlds of tech and public health. OpenAI, which started off as a nonprofit, is now worth roughly $850 billion as it eyes an IPO and battles Elon Musk. Bloomberg’s Mark Gurman breaks down the company’s latest pivot into hardware, and whether this is what consumers actually want or if it's merely a convenient distraction. O
Tickets, please!
Summer plans often come with a price tag, and right now, that price tag is getting bigger. This week on Everybody’s Business, Max and Stacey dig into the economics of all kinds of tickets.First, the Strait of Hormuz has been opening and closing since the US attack on Iran in February, and the ripple effects are hitting the aviation industry especially hard. Economist Michelle Brouhard,
The AI Hate is Existential
A Molotov cocktail hurled at Sam Altman’s home. Bullets fired at a city councilman who approved the building of a data center. The cultural mood around artificial intelligence has shifted, and this week on Everybody’s Business, we’re trying to make sense of it. Bloomberg tech reporter Sarah Frier joins Max and Stacey to break down what’s driving the new wave of AI backlash,
Big Take: The Crypto Giant Amassing US Debt
In just over a decade, Tether has grown from an idea into a global crypto juggernaut, poised to become one of the world’s most highly valued private companies. But where did its dollar-linked stablecoin come from and where is it headed?Everybody's Business Host Stacey Vanek Smith guest hosted our daily show, The Big Take podcast, and with Bloomberg's Todd Gillespie unpacked one of the most p
Filing Your Taxes Is Hellish By Design
Six weeks of conflict, a ceasefire on the horizon and a global economy that is forever changed. Stacey and Max make sense of it all and explain what the war in Iran means for oil prices, global trade and America’s place in the world order. Then, with Tax Day approaching, Bloomberg’s Ben Steverman breaks down what’s different this filing season, and tell us if the complications wi
Elon Musk Wants A Piece of Your 401(k)
It’s been one year since Liberation Day and the start of the chaos it’s wrought on the American economy. Max and Stacey take stock of what a year of sweeping trade policy means for your wallets with Bloomberg trade reporter Laura Curtis. And speaking of wallets, while Elon Musk is on his way to becoming the world’s first trillionaire, his companies may find their way into your 40
Will Private Credit Doom Us All??
America’s favorite pastime is back, and so is...2008? This week, Max and Stacey cover the bases on the simultaneous cultural renaissance of baseball and the rise of the trillion-dollar private credit industry. Plus, the debut of a brand new segment! Hint: It's about an industry uniting both sides of the political aisle.See omnystudio.com/listener for privacy information.
The Airport Lines Are Long
Spring break is here, and so is the chaos. With TSA agents going unpaid amid the partial government shutdown, staffing is short at airports across the country. This week, Stacey and Max trace the invisible threads connecting 2-hour security lines to systems crumbling beneath our feet. Bloomberg reporter Deena Shanker joins to dig into the Epstein files, and explain who faces consequences when thin
Those Gas Prices Aren’t Going Anywhere
This week we explore why very expensive oil might be sticking around despite President Trump’s on-again-off-again declarations of victory in Iran. We break down the "20-cent rule" for gas prices, the Strait of Hormuz chokepoint and the political fallout for the midterms. Plus: Bloomberg’s Ben Steverman on the Wild West that is white collar salaries.See omnystudio.com/listener for priva
The Hidden Crisis Behind the Iran Conflict
As conflict escalates between the US and Israel and Iran, Bloomberg’s Javier Blas reveals a vulnerability hiding in plain sight: the water systems that millions across the Middle East depend on. Plus: AI in wartime, and a gripping new podcast series on Chinese counterintelligence.See omnystudio.com/listener for privacy information.
The Second Coming of Prediction Markets, Live at On Air Fest with Pushkin's Business History
It's a rapturous time to be in prediction markets, but is the promise of Kalshi and Polymarket to "financialize everything" a net good for society, or is it gambling in sheep's clothing? We actually have centuries of history that points towards a potential answer. From this year's On Air Fest in New York City, Everybody's Business and Pushkin Industries' Business History come together to explain t
Emergency Episode: Everything and Nothing Has Changed For Trump's Tariffs
In the hours after publishing our Friday episode, President Trump’s global tariffs have been struck down by the Supreme Court. The newsroom has been buzzing over here at Bloomberg, so Stacey called up Jonathan Lieberman, President of New York Customs Brokers to understand what this news means for our pocketbooks.See omnystudio.com/listener for privacy information.
Salaries are for Suckers
While salaries are an anchor in many Americans' lives, billionaires instead rely on investment income and tax avoidance to line their pockets. Professor and author Ray Madoff takes us behind the curtain of the mega-rich and their asset-saving tricks, just as states like California and cities like New York debate how to address their crushing budget shortfalls. Plus, what Generation Alpha thinks ab
Anna Gifty Opoku-Agyeman Warns Us About The Double Tax
According to the latest jobs numbers, the economy is on fire, but who is benefitting and who is still struggling? Economist and author Anna Gifty Opoku-Agyeman joins Max and Stacey to talk about the hidden costs of Black womanhood. And then, business journalist Lauren Sherman follows the thread on why designers and consumers are feeling worn out during New York Fashion Week. Plus, a moonshot ambit
Elon's Trillion Dollar Merger
Elon Musk has long had his eye on Mars, but any real plan appears to be lost in the cosmos. His more immediate ambitions are decidedly more grounded, with the corporate marriage of SpaceX and xAI. Max and Stacey explore what this future conglomerate will mean for the economy with Bloomberg News reporter Dana Hull. Back on Earth, the biggest sports games in America is pairing up with one of t
ICE's Boiling Point
In the midst of sub-freezing temperatures in Minneapolis, conflict is heating up between residents and US Immigration and Customs Enforcement. Meanwhile, a similar battle is brewing between Senate Democrats and Republicans as a pending funding package determines the future of ICE's funding. Reporter Fola Akinnibi joins Max and Stacey to figure out just how much ICE costs to function.Plus, reporter
Why the US May (Eventually) Get Greenland
President Trump caused some serious whiplash this week. First he called for the US to buy Greenland, and said he would impose tariffs on the European countries standing in his way. But days later, at the World Economic Forum in Davos, he seemed to reverse course. Harvard economist Kenneth Rogoff and Stacey join Max from the Swiss Alps to make sense of a potential acquisition of the arctic territor
Janet Yellen Thinks We’re at a Dangerous Moment
This week Federal Reserve Chair Jerome Powell had a message for the nation, and President Donald Trump: intimidation has no place at the Central Bank. Stacey sits down with former Fed Chair and Treasury Secretary Janet Yellen to talk about why this is such a dangerous moment in history and why Powell's two-minute video was so important. Then Bloomberg reporter Ashley Carman joins Max and Stacey in
How Venezuela Hit Rock Bottom
Back in the 1970s, Venezuelans became famous for their glamorous one-day shopping trips to Miami. "Ta barato, dame dos," the saying went. "That's cheap. I'll take two." Nowadays, the bolivar has lost practically all its value. Max and Stacey are joined by David Papadopoulos to understand what exactly went wrong with the Venezuelan economy. How did the country go from being stable and wealthy to ex
Will 2026 be the Year of the "Hairy 12"?
Businessweek editor Brad Stone joins Max and Stacey to talk about what we could expect from the new year. Leaving such a banner year for odd stories in the rearview mirror, 2026 is bound to include a lot of surprises. Will the imperial presidency continue or fizzle out? Will the AI bubble keep growing or pop? What economic indicators are worth watching? Is there a hot new office trend on the horiz
The Year, According to Tracy Alloway, Felix Salmon, and Robert Smith
How does one recap 2025? A herculean task by all accounts. In this episode, Max and Stacey collects the best and brightest in business podcasting to see if they can help make sense of yet another norm breaking year. Joining in the studio are Odd Lots' Tracy Alloway, Slate Money's Felix Salmon and Planet Money's Robert Smith. Together, the quintet covers a year full of feuds, CEO tweets, flubs, big
Did the Trump Memecoin Kill the Crypto Boom?
This week, we talk about two of the biggest economic stories of 2025: Buy Now Pay Later and $Trump. First, Amanda Mull stops by to discuss BNPL: why its on the rise, how people use it, potential pitfalls and how it's different than just paying with a credit card. Then, Zeke Faux goes through the implausible story of $Trump - the Donald Trump meme coin launched just a few days before the 2025
Trump's AI Hail Mary
This week we take a look at Trump's latest AI gambit: letting Nvidia sell their AI chips to China. Will this move help feed AI's growth or is it just another step towards making the bubble all the more explosive when it pops? The Verge's Nilay Patel joins Max and Stacey to get to the bottom of this. Also on this show, Lucas Shaw goes through the ins-and-outs of the complicated fight over Warner Br
Big Take Bonus: Why We Can’t Quit Microsoft Excel
We here at Everybody’s Business are big fans of our colleagues and friends over at Big Take, Bloomberg’s daily news podcast. So when they released an episode with our very own Max Chafkin, we can’t resist to share it. Please enjoy, and hop on over to subscribe to their feed if you like what you hear!——Excel. If you work in corporate America, that word either
Will Chatbots Break Our Brains—And Our Hearts?
Live from the stage at our Dec. 4 event at Bloomberg’s headquarters in New York, Ellen Huet joins Max and Stacey to talk about her recent story on chatbot delusion. As people’s lives get increasingly entangled with AI, cases of intense human-bot connections breaking up families, businesses, and even pushing people to question their own sanity is raising with an alarming rate. They
The Business Behind the 'Turkey 5'
To celebrate Black Friday, this week’s Everybody’s Business is all about two staples of this unofficial US holiday: commerce and football. First, New York Times’ Ken Belson sits down with Max and Stacey to discuss his new book Every Day Is Sunday: How Jerry Jones, Robert Kraft, and Roger Goodell Turned the NFL into a Cultural & Economic Juggernaut. Belson explains how th
Examining Epstein, Inc
Reporter Max Abelson gives Stacey and Max a primer on the business dealings of disgraced financier and convicted sex offender Jeffery Epstein. Abelson has sifted through thousands of emails to and from Epstein and explains to Max and Stacey what Epstein's business dealings, both legal and unlawful, really was. He also describes why - 20 years into a career of reporting on money and power - he is t
Can Makeup Help Prop up the Economy?
As the government reopens, the Trump administration introduces a new solution to the American housing crisis—the 50 year mortgage. The idea is getting hammered from the right and the left alike but gets support from at least one person: economist and Bloomberg Opinion contributor Allison Schrager. Can this new concept take some pressure off of struggling first-time homebuyers or will it be y
Why Matt Yglesias thinks Mamdani Won't Change New York
Matt Yglesias, author of the Slow Boring newsletter, sits down with Max and Stacey to discuss the recent string of Democratic victories in US elections. The most remarkable happened in New York City, where Democratic socialist Mayor-Elect Zohran Mamdani will soon be in charge of one of the global capitals of capitalism. Will Mamdani be able to go through with his ambitious agenda or
Will Horror Gruel Save Hollywood?
Max and Stacey are joined by Leo Feler, an economist with a unique perspective on the Trump administration’s immigration and deportation policies. During a recent renovation project, Feler’s property was raided by federal agents looking to detain workers they believed were in the country illegally. Feler recounts the dramatic incident and explains how raids like these could have
Kyla Scanlon Sees Trouble Brewing in the US Economy
Kyla Scanlon visits the studio armed with her three most pressing indicators of the state of the economy. What do we make of all those auto loan defaults? Is Jamie Dimon’s new $3 billion “fortress” a harbinger of fundamental changes in the labor market? And why does an economically anxious population keep on spending? Lots to discuss. Max and Stacey also sit down with David Papad
Introducing: The Mishal Husain Show
Make sense of the world with one essential conversation, every week. Mishal Husain, one of Britain's best interviewers, brings her signature blend of curiosity and tenacity to weekly conversations with world leaders, business titans, and cultural icons, revealing who they really are and how they see the world changing around them.Follow the podcast wherever you listen, so you don't miss an episode
Meet Polymarket’s $400 Million Man
This week we hear from Domer - a longtime prediction markets junky who has placed more than $400 million worth of bets using Polymarket. At any point he might have 1,000 or more bets on prediction market sites, ranging from wagers of a few thousand dollars to as much as $1 million, roughly the sum he put on Taylor Swift’s new album sales. Plus, Bloomberg Businessweek columnist Amanda Mu
Are The Markets Just Gambling Now?
Polymarket is a strange place. You can bet on the price of Ethereum, whether Russia and Ukraine will agree to a ceasefire this year or who the next French prime minister will be. As silly as this might sound, Polymarket is worth $8 billion, according to an investment by the owner of the New York Stock Exchange. This deal comes on the heels of the new partnership between the Chi
Will the Shutdown Lead to DOGE 2.0?
The federal government shut down on Wednesday, which in the near-term probably sounds worse than it is. Yes, 750,000 workers are expected to be furloughed and yes, certain functions including visitor centers at national monuments and the release of economic data will pause. But functions deemed “essential” are continuing: mail is still being delivered, courts are still open, airpo
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 eco
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 eithe
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 wh
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 down
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.
Will AI Crash the Economy?
What does it say about the prospects for an artificial intelligence “golden age” that some of those who most enthusiastically predicted it are now tamping down expectations? Earlier this week, in what looked like damage control over the release of a new version of ChatGPT, OpenAI Chief Executive Officer Sam Altman said investors have been inflating a speculative bubble in AI. He predic
Trump's Hands On Economy, Is Sports Betting Ruining Sports?
Donald Trump has been back at the White House for little more than 6 months, but his mark on the US economy has been profound. If Adam Smith’s “invisible hand” was a symbol of the unfettered free market, the Republican president’s approach should perhaps be described as very hands on. This week on Everybody’s Business from Bloomberg Businessweek, Max Chafkin
Trump’s War on Data and Rise of the Pricing Bots
Donald Trump’s decision to fire the commissioner of the Bureau of Labor Statistics, Erika McEntarfer, apparently in retribution for a report that showed slower job growth, was without precedent in recent US history. This week on Everybody’s Business we explore why presidents—at least since Richard Nixon—have left the BLS alone, and we hear from former BLS commissioner Erica
Trump's 4D Chess, Your North Korean Coworker, and Hard Celsius
It was a packed week for the US economy: jobs numbers, an interest rate announcement from Federal Reserve Chair Jerome Powell, consumer confidence data and a tariff deadline. Topping the list was gross domestic product, the sum total of goods and services the economy produces—generally considered the measure of growth. After months of tariffs (and Donald Trump’s constantly shiftin
Dude! They Killed Colbert!
After 10 years, CBS announced it was cancelling Stephen Colbert’s Late Show. This coincidentally came on the heels of his humorous excoriation of parent company Paramount’s $16 million deal with President Donald Trump over what the Republican claimed was bias in the editing of an interview with then-Vice President Kamala Harris. CBS journalists denied the allegation and legal experts s
Trump's Fed fight, Staycations, and Etsy Witches
On the morning of July 16, a White House official told Bloomberg News that President Donald Trump was preparing to fire Federal Reserve Chairman Jerome Powell. Such a firing would potentially be illegal (as the Supreme Court recently noted) and undermine decades of goodwill that Fed policymakers have built up with investors. Trump quickly took the threat back, while making it clear he mi
Pricey Copper, Bummed Consumers and a Bee Mystery Solved
On Tuesday, seemingly off the cuff, US President Donald Trump suddenly threatened a 50% tariff on copper. The reaction from markets was predictably strong, leaving metal distributors scrambling to get deliveries across the border. In this week’s episode of Everybody’s Business, Bloomberg economics reporter Joe Deaux joins hosts Max Chafkin and Stacey Vanek Smith to discuss Tr
The Big Beautiful Bill & The U.S. Enters Its Middle Aged Man Era
Happy 4th of July! The U.S. turns 249 this year and there are plenty of economic fireworks to ring in the birthday. After a long and winding road through Capitol Hill, the “Big Beautiful Bill” is poised to be signed by President Trump. The bill is largely an extension of Trump’s 2017 tax cuts, and it will have big — and not entirely beautiful — implications for U
Does a Mamdani Blowout + Bezos Blowback = Billionaires Beware?
With Stacey Vanek Smith off at the World Economic Forum in China, Max Chafkin is joined by Brad Stone, the editor of Bloomberg Businessweek, and Bloomberg reporter Laura Nahmias. Together, they discuss how significant democratic socialist Zoran Mamdani’s surprising New York City’s Democratic mayoral primary victory could be for Wall Street and the city of New York. A parallel to
Ripple Effects of War, Private Equity Gets Personal, and... President Cuban?
As of this writing, Israel’s war with Iran has been underway for close to a week, triggered by a surprise attack ordered by Prime Minister Benjamin Netanyahu on Iranian military and civilian targets. Israel’s waves of strikes have killed hundreds of Iranians while dozens of Israelis have died in Iranian retaliatory volleys. Donald Trump has demanded Iran’s “uncond
ICE Raids, Expensive Cheap Food and a Venomous Black Market
Some of the most important forces at work in the US economy can’t be captured by the data, at least not entirely. Take the contribution of undocumented workers—an estimated 5% of the US workforce is undocumented, many toiling in sectors of vital importance to the economy, such as construction, agriculture and food services. With Donald Trump’s immigration crackdowns on the r
Bad Blood: Elon vs. Trump & Taylor Swift gets her Grooves Back
Hell hath no fury like Elon Musk scorned. Messy breakups grabbed headlines this week, with the strange and storied bromance of Musk and President Donald Trump rather predictably ending in tears (and a series of incendiary social media posts). Musk fired sharp criticisms at the White House-backed tax bill for being fiscally irresponsible. “Bankrupting America is NOT ok! KILL the BILL,&rd
Small Businesses vs Tariffs, Trump + Crypto, and Tinder's Big Swipe
Small businesses struck back this week–A handful of companies plus a dozen states sued to block the Trump administration’s Liberation Day tariffs. The Court of International Trade ruled that the tariffs marked a presidential overreach. The Trump administration swiftly appealed the decision and the appeals court allowed the tariffs to stay. For now. In the third episode of Everybody&rs
Wrestling with Taxes, Robots and Gold
All the economy is a stage this week, as the “big beautiful” tax bill passed the House in the wee hours of Thursday morning, and millions of college graduates got their diplomas and set off into the the job market, competing with an ever growing army of robot workers. In the second episode of Everybody’s Business from Bloomberg Businessweek, hosts Stacey Vanek S
Trump Ruins Christmas, Private Equity Ruins Sports, and Heels for Men
Where’s the inflation? With this week’s Consumer Price Index coming in softer than predicted (inflation at its lowest level since 2021, according to government data), a lot of people are wondering why tariffs haven’t pushed prices up. In the debut episode of Everybody’s Business from Bloomberg Businessweek, hosts Stacey Vanek Smith and Max Chafkin tackle President Donald Tr
Introducing: Everybody's Business
A smart and fizzy chat show about all things business tailored for a new generation of finance pros and the financially curious. Hosted by award-winning business and economics journalists Max Chafkin (author of The Contrarian: Peter Thiel and Silicon Valley’s Pursuit of Power) and Stacey Vanek Smith (former co-host of NPR’s Planet Money and reporter for Marketplace), Everybody's Busine
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