Introducing Behind the Money: Night School

Exxon Mobil struck black gold in 2015 when it discovered a massive oil reserve off the coast of Guyana in South America. It’s poised to make Guyana the fourth-largest offshore oil developer in the world, and it's already jump-started a transformation within the developing economy. But will this oil bonanza benefit Guyana’s people? The FT’s US energy editor Jamie Smyth travels to Guyana’s capital to understand Exxon’s impact first-hand. 

Clip from NBC News

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For further reading:

The giant Exxon project that could create the world’s last petrostate

Oil-rich Guyana tries to tap another source of cash: carbon credits

Exxon’s exit marks reversal of fortune for Equatorial Guinea

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On X, follow Jamie Smyth (@JamieSmythF) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Banks in the US are locked in a bitter fight with regulators. It’s all about a proposed set of rules with an unusual name, Basel III Endgame. Regulators say the rules will help avoid future banking crises. Banks say they’re overkill and could hurt everyday Americans. The FT’s US banking editor Joshua Franklin explains how the industry is pushing back.

Clips from Bloomberg, CNBC

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For further reading:

The US pushback against ‘Basel Endgame’

The bank argument on the Basel III endgame is bunk

EU to delay Basel bank trading reforms as US revisits plans

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On X, follow Joshua Franklin (@FTJFranklin) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more. 

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

In November, online fast-fashion giant Shein filed paperwork to go public in the US. Since then the process has not moved forward at all — and it looks like Shein’s ties to Beijing could be to blame. The FT’s China tech correspondent Eleanor Olcott explains how Shein has tried to distance itself from China to appease US regulators, and where it might go public instead. 

Clips from Reuters, Bloomberg, Yahoo Finance

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For further reading:

Shein switches focus to London after New York IPO stalls

Shein’s London IPO flirtation

Shein profits double to over $2bn ahead of planned listing

Fund managers give cool reception to prospect of Shein London IPO

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On X, follow Eleanor Olcott (@EleanorOlcott) and Saffeya Ahmed (@saffeya_ahmed).

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

The 2024 NBA Playoffs are in full swing, but eyes are still on a team that was knocked out last week. The Minnesota Timberwolves are caught up in an ownership dispute that’s gone south pretty fast, after two prospective buyers attempted to finance their purchase of the team in an unconventional way. The FT’s US sports business correspondent Sara Germano breaks down how the deal came together, fell apart, and the can of worms it’s since opened about owning US sports teams. 

Clips from Bleacher Report, FOX 9 Minneapolis-St. Paul, KARE 11, House of Highlights, The Dane Moore NBA Podcast

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For further reading:

The off-the-court fight for one of the NBA’s hottest teams

Private equity gears up for potential National Football League investments

Michael Jordan agrees to sell majority stake in NBA’s Charlotte Hornets

Mark Cuban’s Mavericks bet

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On X, follow Sara Germano (@germanotes) and Saffeya Ahmed (@saffeya_ahmed).

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

This week, we’re revisiting an episode from last November, about a Wall Street saga that lost shareholders more than $10bn. In 2007, when Dan Och took his hedge fund public, he was making a bet that his company would stand the test of time. More than 15 years, a bribery scandal, and a feud with his protégé later, the FT’s Ortenca Aliaj and Sujeet Indap explain how things did not work out as planned. 

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For further reading:

Sculptor Capital: grey areas cause grey hairs in messy bidding war

Fight over Sculptor hedge fund sale entwined in Daniel Och’s tax affairs

Sale of Sculptor Capital on cusp of approval after hedge fund brawl

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On X, follow Ortenca Aliaj (@OrtencaAl), Sujeet Indap (@sindap) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more. 

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Episode description: 

Audit firms are supposed to put a company’s books under the microscope. But these days, regulators are finding an increasing number of flaws in the audits that they inspect. The FT’s US accounting editor Stephen Foley explains what’s going wrong, and how regulators around the world plan to fix these shortcomings. 

Clips from CNN, NBC News 

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For further reading:

Why don’t auditors find fraud?

Auditors failed to raise alarm before 75% of UK corporate collapses

Big Four firms rethink governance after year of mis-steps and scandals 

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On X, follow Stephen Foley (@stephenfoley) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Introducing Power for Sale, a new season of Untold from the Financial Times. In Untold: Power for Sale, host Valentina Pop and a team of FT correspondents from all over Europe investigate what happened in the Qatargate scandal, where EU lawmakers were accused of accepting payments from Qatar to whitewash its image.

Subscribe and listen on: Apple Podcasts, Spotify or wherever you get your podcasts.

Hosted on Acast. See acast.com/privacy for more information.

Late last year, Warren Buffett’s close business confidant Charlie Munger died at 99. Munger’s death and Buffett’s upcoming 94th birthday have renewed questions about the future of Berkshire Hathaway. What will the empire he’s built look like after he’s no longer at the helm? 

Behind the Money and the FT’s senior corporate finance correspondent Eric Platt travel to Omaha, Nebraska for Berkshire Hathaway’s annual shareholder meeting, to get a better sense of how the next generation will lead America’s “last great” conglomerate. 

Clips from CNBC

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For further reading:

Berkshire after Buffett: is Greg Abel up to the top job?

Berkshire after Buffett: prized energy business faces upheaval

Berkshire after Buffett: the risk ‘genius’ pulling the insurance strings

Berkshire after Buffett: can any stockpicker follow the Oracle?

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On X, follow Eric Platt (@ericgplatt) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

In a new season of Tech Tonic, longtime FT China reporter Jame Kynge travels around the world to see how China is pushing towards tech supremacy. Will China be able to get an edge in crucial technological areas? What does China’s attempt to leapfrog the west look like on the ground? A 6-part series looking at China’s tech industry.

Presented by James Kynge. Edwin Lane is the senior producer. The producer is Josh Gabert-Doyon. Executive producer is Manuela Saragosa. Sound design by Breen Turner and Samantha Giovinco, with original music from Metaphor Music. The FT’s head of audio is Cheryl Brumley.

Hosted on Acast. See acast.com/privacy for more information.

Three years ago, chaos struck Wall Street. Companies saw their share prices tumble, seemingly out of nowhere. Major banks lost billions of dollars in the fallout. Eventually, that chaos was linked to a family office, Archegos Capital Management, and its founder Bill Hwang. 

This week, Hwang heads to trial in New York, where he faces charges including racketeering, and securities and wire fraud. The FT’s US legal correspondent Joe Miller examines the “novel” case prosecutors plan to pursue.

Clips from CNBC, Fox Business

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For further reading:

‘To what end?’: the murky question of Bill Hwang’s motive in Archegos trial

Archegos founder’s charity was financial ‘escape pod’, suit alleges

Hedge funds and brokers take aim at post-Archegos trading reforms

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On X, follow Joe Miller (@JoeMillerJr) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

You're using ChatGPT wrong. Today we’re getting into the common misconceptions and mistakes people make when using ChatGPT. We break down the 9 biggest reasons you’re using ChatGPT wrong.

For more details, head to our episode page.
Join the conversation and ask Jordan any questions you have here.

Time Stamps:
[00:01:15] Daily AI news
[00:05:40] Using the wrong version of ChatGPT
[00:09:15] Using the wrong year for ChatGPT
[00:11:40] Not using ChatGPT as your executive assistant
[00:14:50] Not training your Chats as employees
[00:17:57] Using it just for writing
[00:23:15] Using prompts only
[00:25:20] Noting giving specifics, a role, context, etc.
[00:29:25] Not training and saving your expert chats
[00:30:52] Still using Google

Topics Covered in This Episode:
1. Workplace stress and impact of AI
    - Exponential surge of stress with AI adoption
    - Importance of understanding and discussing AI's impact on efficiency and employment expectations

2. Controversy around US restrictions on chip sales to China
    - Mention of US restrictions on chip sales to China
    - Emphasis on role of chipmakers and AI companies in driving US economy

3. Common mistakes in using ChatGPT
    - Not using the paid version of ChatGPT
    - Using outdated versions of ChatGPT
    - Not utilizing ChatGPT as an executive assistant

4. AI news
    - OpenAI accused of hoarding personal data in a potential class action lawsuit
    - Report on how AI influences social media

5. Study on rapid adoption of AI and its effects on mental health
    - Mention of a study unveiled at the KPMG Woman's Leadership Summit

9. Addressing incorrect use of ChatGPT and main topic of discussion
    - Reminding the audience that the livestream is for answering questions about ChatGPT and other subjects

Keywords:
stress, workplace, AI, exponential surge, adoption, understanding, discussing, impact, efficiency, employment expectations, controversy, US restrictions, chip sales, China, chipmakers, AI companies, driving, US economy, common mistakes, ChatGPT, paid version, outdated versions, executive assistant, Everyday AI, audience, joining, subscribing, rating, website, AI content, daily newsletter, breaking barriers, incorrect use, main topic, livestream, answering questions, OpenAI, accused, hoarding personal data, class action lawsuit, report, influences, social media, study, rapid adoption, mental health, KPMG Woman's Leadership Summit

Typically when we put out a call for audience questions, there’s no single topic that dominates. This time was different. The questions we received were overwhelmingly focused on artificial intelligence: Do A.I. systems pose an existential threat to humanity? Will robots take our jobs? How could these machines potentially make our lives — and the lives of our children — better?

So I asked the show’s senior editor, Roge Karma, to join me to talk through them. We also discuss my mixed feelings about the calls to “pause” A.I. development, why I’m less worried about rogue A.I. systems than the incentives of the companies and countries developing A.I., the need for a “public vision” for A.I. development, whether A.I. companions can help address widespread loneliness, why I’m skeptical that A.I. advances will lead to skyrocketing economic productivity, the possibility that A.I. advances will lead to a post-work utopia, why I think of A.I. less as a normal technology and more as a “hyper object,” what A.I. systems are unveiling about what it means to be human and more.

Mentioned:

“Natural Selection Favors AIs over Humans” by Dan Hendrycks

“2022 Expert Survey on Progress in AI”

God, Human, Animal, Machine by Meghan O’Gieblyn

“Resisting dehumanization in the age of A.I.” with Emily Bender

“The Moral Economy of High-Tech Modernism” by Henry Farrell and Marion Fourcade

Recommendations:

“Some of Us Are Brave” by Danielle Ponder

“In Memory of a Honeybee” by Felix Rösch

“Clouds” by Felix Rösch and Laura Masotto

“Driven” by Felix Rösch

Mabe Fratti

Trance Frendz by Ólafur Arnalds and Nils Frahm

Thoughts? Guest suggestions? Email us at ezrakleinshow@nytimes.com.

You can find transcripts (posted midday) and more episodes of “The Ezra Klein Show” at nytimes.com/ezra-klein-podcast, and you can find Ezra on Twitter @ezraklein. Book recommendations from all our guests are listed at https://www.nytimes.com/article/ezra-klein-show-book-recs.

This episode of “The Ezra Klein Show” is produced by Roge Karma, Kristin Lin and Jeff Geld. Fact-checking by Michelle Harris and Kate Sinclair. Mixing by Jeff Geld. Original music by Isaac Jones. Audience strategy by Shannon Busta. The executive producer of New York Times Opinion Audio is Annie-Rose Strasser. Special thanks to Sonia Herrero and Kristina Samulewski.

• Jake reminds us that vanity metrics don’t always equal great coach
• Jake admit that he was not happy with his choices and why
• Jake shares thoughts on looking for a paradise you are already living in
• Jake share the importance of building those human connections

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