Tim Sweeney on Epic's metaverse
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 20 June 2022
⏱️ 12 minutes
🧾️ Download transcript
Summary
Passively managed index funds have overtaken actively managed funds’ ownership of the US stock market for the first time and Brazil is cracking down on fake news on social media sites in the run-up to this October’s election. Plus, the FT’s Patrick McGee interviewed the chief executive of Epic games about his ambitions for the metaverse.
Mentioned in this podcast:
Passive fund ownership of US stocks overtakes active for first time
Social media platforms crack down on fake news ahead of Brazil election
Tim Sweeney: Epic will fight Apple and Google to keep the metaverse open
Travis Scott concert audio courtesy of Travis Scott YouTube channel
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk |
| 0:09.9 | Good morning from the Financial Times. |
| 0:11.5 | Today is Monday, June 20th. |
| 0:13.5 | And this is your FT News Briefing. |
| 0:18.3 | Turns out more and more investors are giving passive investing a try |
| 0:22.7 | and Brazil is trying to crack down on social media disinformation |
| 0:26.4 | with a contentious election approaching. |
| 0:29.1 | Plus, the FT's Patrick McGee spoke to the CEO of Epic Games |
| 0:32.4 | about what he sees as the future of the metaverse. |
| 0:35.8 | I'm Mark Filipino and here's the news you need to start your day. |
| 0:45.1 | Passive investing, basically putting your money into an index fund is on the rise. |
| 0:50.3 | That could actually be making stock markets more volatile, |
| 0:54.0 | according to a recent research paper. |
| 0:56.2 | The FT's Steve Johnson looked into this. |
| 1:26.2 | In traditional or active investing, managers will buy cheap stocks to raise their price |
| 1:39.6 | and then sell them off when they're worth more. |
| 1:42.0 | Then they'll reinvest the money they've made. |
| 1:44.5 | That's a two and throw between active investors who might have a different view |
| 1:48.5 | of the worth of a particular company. |
| 1:50.4 | And that would, to some degree, keep the volatility of that stock under control. |
| 1:54.6 | But that dynamic is not at play with passive investors. |
... |
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