Hello! Welcome to the billionaire slap fight episode of Slate Money, your guide to the

business and finance news of a hacked week in business and finance. I am Felix Salmon

of Axios. I'm here with Stacey Marie Ishmael of Bloomberg. Hello! I'm here with Emily

Peck of Fundraise. Hi! Hello! Oh my God! 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. We have so much that we had to take the

whole bit about people going off the record and put it into Slate Plus. It is a jam packed show.

We are going to somehow manage to squeeze image and heap into there. Everything is in here.

NFTs. You name it. Crypto. Stay tuned because this is the nu-plus ultra of Slate Money. It's all

coming up after this. I'm going to start with deconglomeratization, Emily. All right. Very cool

for sexy. It's a cool and sexy word, but there are two of the biggest and most storied companies in

America. If you grew up in, you know, when I grew up in financial journalism in like the 90s and

2000s and you had the Dow 30 and it was all about these big blue chip stocks that there is nothing

more 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 and both of them this week have

announced that they are splitting up and becoming multiple different companies. So Johnson, Johnson

is splitting into two. It's got the healthcare business and it's going to also split into its

consumer business. General Electric is splitting into three. It too has a healthcare business. It's

also going to create a power business which is basically lots of turbines and then it's also going

to do its jet engine business. This is the end of GE basically. GE is just basically not going to

really exist in any kind of recognizable form after this. And honestly, I kind of think it's the

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