Slate Money - Billionaire Slap Fight
Slate Daily Feed
Slate
3.9 • 1.1K Ratings
🗓️ 13 November 2021
⏱️ 56 minutes
🧾️ Download transcript
Summary
This week, Felix Salmon, Emily Peck and Stacy-Marie Ishmael talk about the deconglomeration of Johnson & Johnson and General Electric, the impact worker revenge has on inflation, and Elon Musk’s big Twitter poll costing him ten percent of his stocks.
In the Plus segment: Talking on background.
Mentioned in the show:
“’It’s a walkout!’ Inside the fast-food workers’ season of rebellion” by Greg Jaffe
“Updating The Verge’s background policy” by Nilay Patel
Email: slatemoney@slate.com
Podcast production by Cheyna Roth
Hosted on Acast. See acast.com/privacy for more information.
Transcript
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| 0:00.0 | Hello, and welcome to the billionaire slap fight episode of Slate Money, your guide to the business and finance news of a packed week in business and finance. |
| 0:24.0 | I am Felix Salmon of Axios. |
| 0:26.1 | I'm here with Stacey Marie Ishmael of Bloomberg. |
| 0:29.2 | Hello. |
| 0:30.0 | I'm here with Emily Peck of Fundrise. |
| 0:33.1 | Hi. |
| 0:34.5 | Hello. |
| 0:35.4 | Oh my God. |
| 0:36.2 | How much do we have to talk about today? So much. So much. We have Elon Musk. We have Rivian. We have IPOs. We have capital gains taxes. We have inflation. We have people quitting their jobs. We have Johnson and Johnson. We have General Electric. We have the end of the conglomerate. |
| 0:56.3 | We have so much that we had to take the whole bit about people going off the record and put it |
| 1:02.2 | into Slate Plus. It is a jam-packed show. We are going to somehow manage to squeeze image and |
| 1:09.4 | heap into there. Everything is in in here nfts you name it |
| 1:14.0 | crypto stay tuned because this is the no plus ultra of slate monies it's all coming up after this |
| 1:24.1 | i'm going to start with deconglomeratization, Emily. All right. Very cool, very sexy. |
| 1:30.8 | It's a cool and sexy word, but there are two of the biggest and most storied companies in America. |
| 1:38.5 | If you grew up in, you know, when I grew up in financial journalism in like the 90s and 2000s and you |
| 1:46.3 | had the Dow 30 and it was all about these big blue chip stocks that there is nothing more |
| 1:53.3 | blue chip than General Electric and Johnson and Johnson. These are the, the bluest of the blue chips. And they both do a huge number of different things. |
| 2:05.8 | And both of them this week have announced that they are splitting up and becoming multiple |
| 2:11.4 | different companies. So Johnson Johnson is splitting into two. It's got the healthcare business |
| 2:16.0 | and it's going to also split into its consumer business. General Electric is splitting into two. It's got the healthcare business and it's going to also split into its |
| 2:18.3 | consumer business. General Electric is splitting into three. It too has a healthcare business. |
... |
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