A $6.5B Gift for Kid Accounts & OpenAI’s ‘Code Red’ 12/2/25

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 2 December 2025

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

Michael and Susan Dell have gifted $6.5 billion to 25 million investment accounts for American children, adding momentum to the Invest America Act. Tech investor Brad Gerstner has long been a proponent of this initiative, and he explains how and why it will work for Americans and the American capitalist system. Then, chairman of Heaven Hill Max Shapira discusses how the largest family-owned and operated distillery in the U.S. has weathered 90 years of changes in consumer tastes and liquor regulation. Plus, OpenAI’s Sam Altman has declared a “code red” in the face of ChatGPT competition, Costco is suing the Trump administration over tariffs, and crypto has suffered a massive plunge. Eamon Javers - 10:37 Brad Gerstner - 15:40 Max Shapira - 40:17 In this episode: Eamon Javers, @eamonjavers Brad Gerstner, @altcap Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music, please.
0:04.3	This is SquawkPod, and I'm CNBC producer Cameron Costa.
0:08.6	On today's episode, Investing in America's Children.
0:13.1	Hedge fund manager Brad Gersoner has been suggesting for years and seeding investment accounts for children.
0:19.8	Today, billionaire Michael Dell and his wife
0:22.6	announce a landmark gift of $6 billion to fund tax-advantaged accounts, dubbed Trump
0:29.5	accounts, for 25 million kids. Gersner joins us on the announcement.
0:34.1	We're coming together on the National Day of Giving. This truly is something that we can all get united around.
0:40.1	And what it can do to change views of ownership and capitalism in America.
0:46.0	It takes all of us.
0:47.4	Every family, every company, every philanthropist coming together to solve this problem.
0:53.1	And Heaven Hill Distillery behind legacy brands like Elijah Craig and Evan Williams
0:58.7	has remained family-owned and operated for 90 years.
1:03.5	Chairman Max Shapira on Consumer Taste for Spirits.
1:07.6	Kentucky Bourbon and all the still spirits are discretionary expenditure,
1:12.4	and those discretionary funds are being squeezed and squeezed mightily by almost all consumers.
1:19.6	Plus, cryptocurrencies plunge, Costco suing the president for tariff-refunds,
1:25.8	and OpenAIs Sam Altman is calling a code red
1:30.0	to improve chat GPT in the face of artificial intelligence competition.
1:35.4	It's moving so fast. Do we want it to get there?
1:38.1	Not sure.
1:40.0	It's Tuesday, December 2nd, 2025, and Squawk Pod begins right now.
	...

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