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☆ JPMorgan CEO Jamie Dimon believes the term 'ultra-MAGA' is insulting to a large group of people
▼ + stars: | 2023-11-29 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

JP Morgan CEO Jamie Dimon railed against the term "ultra-MAGA" at Wednesday's NYT DealBook summit. "I think you're insulting a large group of people and then we're making assumptions," he said. AdvertisementJPMorgan Chase chief executive Jamie Dimon warned liberals against using the term "ultra-MAGA" to describe pro-Trump conservatives, arguing that the phrase insults a large group of Americans. "I think you're insulting a large group of people and then we're making assumptions and scapegoating … where somehow these people believe in Trump's family values and supporting the personal person. The term "ultra-MAGA," describing the most conservative adherents of Trump's Make America Great Again movement, has been popularized due to President Joe Biden's use of the phrase.

Persons: Morgan, Jamie Dimon, Dimon, Nikki Haley's, —, MAGA, Andrew Ross Sorkin, Joe Biden's, Trump, George Will, Tom Friedman, who's, Nikki Haley Organizations: Trump, Service, JPMorgan Chase, The, Trump's, Republican, Democrat Locations: York, Manhattan, New York City, China

☆ Elon Musk to advertisers who are trying to ‘blackmail’ him: ‘Go f--- yourself’
▼ + stars: | 2023-11-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailElon Musk to advertisers who are trying to ‘blackmail’ him: ‘Go f--- yourself’Elon Musk sits down with Andrew Ross Sorkin at the 'New York TImes' DealBook Summit' on a wide-ranging interview including anti-semitism, an advertiser boycott, Tesla, AI and more.

Persons: Elon, ’, Elon Musk, Andrew Ross Sorkin

☆ Here’s the Lineup for the 2023 DealBook Summit, and When to Watch
▼ + stars: | 2023-11-29 | by ( The New York Times | ) www.nytimes.com time to read: 1 min

The hype and hope driving artificial intelligence, the rise of antisemitism since Hamas’ Oct. 7 attack on Israel, inflation, dysfunction in Washington and the streaming wars — these topics and more will be addressed at the 2023 DealBook Summit. Over more than eight hours on Wednesday, Andrew Ross Sorkin will interview the biggest newsmakers in the worlds of business, politics and culture. The first interview will begin shortly after 9 a.m. Eastern. Interviews that will be carried on nytimes.com are noted. Here’s this year’s lineup:

Persons: Andrew Ross Sorkin Locations: Israel, Washington

The lineup for DealBook Summit 2023On Wednesday, DealBook will be live and in person at our annual summit in New York. The DealBook team and reporters from The Times will be reporting live from the conference. Even if you are not with us, you can follow along here beginning at 8:30 a.m. Eastern. Here are the speakers:Vice President Kamala HarrisElon Musk , the chairman and C.E.O. Is this a technology that will unleash a new wave of productivity, or is it a force that could do irreparable harm?

Persons: DealBook, Andrew, Kamala Harris Elon Musk, Tesla, X Tsai Ing, Taiwan Lina Khan, Jamie Dimon, JPMorgan Chase Bob Iger, Kevin McCarthy, California Jensen Huang, Nvidia David Zaslav, Jay Monahan Organizations: DealBook, The, SpaceX, Federal Trade, JPMorgan, Disney, Republican, Nvidia, Warner Bros, White House Locations: New York, Taiwan, California, Israel, China, U.S, Beijing, Washington

☆ JPMorgan boss Jamie Dimon was asked what he thinks of Elon Musk
▼ + stars: | 2023-11-29 | by ( Henry Blodget | ) www.businessinsider.com time to read: +1 min

JPMorgan CEO Jamie Dimon shared his thoughts on Elon Musk. Dimon said the Tesla CEO is "brilliant" and has "pluses and minuses." Dimon was speaking at the New York Times DealBook conference. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAt the New York Times DealBook conference Wednesday, host Andrew Ross Sorkin asked JPMorgan chief Jamie Dimon about Elon Musk.

Persons: Jamie Dimon, Elon Musk, Dimon, Tesla, —, Andrew Ross Sorkin, Elon, Sorkin, pluses Organizations: New York Times, Service, Elon, JPMorgan

☆ JPMorgan CEO Jamie Dimon: I'm not afraid of China, it's good for an American bank to be there
▼ + stars: | 2023-11-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJPMorgan CEO Jamie Dimon: I'm not afraid of China, it's good for an American bank to be thereJPMorgan Chase CEO Jamie Dimon joins moderator Andrew Ross Sorkin at The New York Times DealBook Summit to discuss the role of business in the geopolitical sphere, state of U.S.-China relations, doing business in China, and more.

Persons: Jamie Dimon, I'm, Andrew Ross Sorkin Organizations: JPMorgan Chase, The New York Times Locations: China, American, U.S

☆ Elon Musk just used very foul language to tell X advertisers to go away
▼ + stars: | 2023-11-29 | by ( Lloyd Lee | Madeline Berg | ) www.businessinsider.com time to read: +3 min

Elon Musk was questioned about his antisemitic comments on X during the New York Times' DealBook Summit. Musk repeatedly said that advertisers can go "fuck" themselves. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk repeatedly told companies who pulled advertisements from his social media platform X to "go fuck yourself," during an interview for The New York Times DealBook Summit on Wednesday. Over the weekend, the New York Times reported that X may lose up to $75 million from the advertiser exodus.

Persons: Elon Musk, Musk, Bob Iger, —, Andrew Ross Sorkin, Elon, it's Tesla, Iger, Linda Yaccarino Organizations: New York Times, Disney, Service, The New York Times, Summit, SpaceX, ABC, ESPN, IBM, Apple, Lionsgate, Media

☆ Bob Iger says 'The Marvels' had little 'supervision' and Disney has made too many sequels
▼ + stars: | 2023-11-29 | by ( Sarah Whitten | ) www.cnbc.com time to read: +2 min

of The Walt Disney Company Bob Iger speak during the New York Times annual DealBook summit on November 29, 2023 in New York City. One year after returning to the helm of Disney , Bob Iger said Wednesday his top priority at the company is revitalizing its film studio after a string of box office disappointments including "The Marvels" and "Wish." "The experience of accessing [the films] and watching them in the home is better than it ever was," he told Andrew Ross Sorkin at The New York Times' DealBook Summit. In increasing its output to feed Disney+, Iger said the company "diluted" its quality, particularly when it came to its Marvel Cinematic Universe features. Iger returned as CEO a year ago as the board fired Chapek.

Persons: Andrew Ross Sorkin, Walt Disney Company Bob Iger, Bob Iger, Iger, Covid, Bob Chapek Organizations: Walt Disney Company, New York Times, Disney, The New York Times, Marvel Locations: New York City

☆ VP Kamala Harris ducks questions on TikTok, Elon Musk antisemitic post
▼ + stars: | 2023-11-29 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

Vice President Kamala Harris speaks during the New York Times annual DealBook summit on November 29, 2023 in New York City. Vice President Kamala Harris refused to speak Wednesday about two hot-button issues — TikTok regulation and the promotion by Elon Musk of an antisemitic conspiracy — despite the fact that the White House has taken strong stances on both topics. The vice president likewise ducked questions about Musk, the mega-billionaire head of Tesla , SpaceX, and X, the social media site where he recently boosted the antisemitic claim. The vice president's tight-lipped evasion Wednesday starkly contrasted with how vocal the White House has been on both TikTok and the Musk controversy. At the time of the post, however, the White House blasted Musk for appearing to support antisemitism on social media.

Persons: Kamala Harris, Elon Musk, Andrew Ross Sorkin, Harris, Elon, Ross Sorkin, Joe Biden, Biden, TikTok, Musk, Andrew Bates, Tesla Organizations: New York Times, Elon, White, CNBC, The New York Times, SpaceX, House, Pentagon Locations: New York City, TikTok, Israel, China, U.S, Ukraine

☆ Elon Musk claims advertisers are trying to 'blackmail' him, says 'Go f--- yourself'
▼ + stars: | 2023-11-29 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +2 min

Tesla and SpaceX's CEO Elon Musk reacts during an in-conversation event with British Prime Minister Rishi Sunak in London, Britain, Thursday, Nov. 2, 2023. Speaking at the 2023 DealBook Summit in New York on Wednesday, Elon Musk, the owner of social media site X (formerly Twitter), scoffed at advertisers leaving the platform because of antisemitic posts he amplified there. "The whole world will know that those advertisers killed the company and we will document it in great detail," Musk threatened. Musk told Sorkin on stage that his visit to Israel was planned before his tweets, and were not part of an "apology tour." Previously, Musk had said he wanted to bring SpaceX satellite communications service, Starlink, to the region and specifically to humanitarian organizations in Gaza.

Persons: Tesla, Elon Musk, Rishi Sunak, somebody's, Musk, Bob Iger, Bob, Andrew Ross Sorkin, Paris Mayor Anne Hidalgo, Benjamin Netanyahu, Netanyahu, Sorkin Organizations: British, Disney, Apple, Paris Mayor, SpaceX Locations: London, Britain, New York, Israel, Gaza

☆ Nvidia CEO: Senior executives don't need pampering, career guidance
▼ + stars: | 2023-11-29 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Nvidia CEO Jensen Huang offered a glimpse into his unusual management style, including having "50 direct reports," in an interview with CNBC's Andrew Ross Sorkin on Wednesday. Huang says that he has so many direct reports — most executives only have 10 or so — because it keeps Nvidia from developing unnecessary layers of management. "The more direct reports a CEO has, the less layers are in the company. "The people that report to the CEO should require the least amount of pampering and so I don't think they need life advice. I don't think they need career guidance," Huang said.

Persons: Jensen Huang, CNBC's Andrew Ross Sorkin, Huang, Steve Jobs, Mark Zuckerberg Organizations: New York Times, Jazz, Lincoln Center, Nvidia, AMD Locations: New York City, China

☆ Elon Musk says he won't vote for Biden over Trump, calls Haley 'pro-censorship'
▼ + stars: | 2023-11-29 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Elon Musk, chief executive officer of Tesla Inc., during a fireside discussion on artificial intelligence risks with Rishi Sunak, UK prime minister, not pictured, in London, UK, on Thursday, Nov. 2, 2023. Photographer: Tolga Akmen/EPA/Bloomberg via Getty ImagesElon Musk said Wednesday that he won't vote for President Joe Biden in the 2024 election, even if former president Donald Trump is the Republican nominee. "I would not vote for Biden," Musk said during a wide-ranging interview with Andrew Ross Sorkin at the DealBook Summit in New York. When asked what he'd do if those were the two nominees, Musk said, "This is definitely a difficult choice here." When asked if he could support Nikki Haley among the Republicans, Musk said no and described the former South Carolina governor as a "pro-censorship candidate."

Persons: Elon Musk, Rishi Sunak, Sunak, Tolga, Joe Biden, Donald Trump, Biden, Musk, Andrew Ross Sorkin, I'm, Barack Obama's, hasn't, Ron DeSantis, Vivek Ramaswamy, Sorkin, Ramaswamy, Nikki Haley Organizations: Tesla Inc, Bloomberg, Getty, Republican, Trump, Democratic Party, Florida, Republicans, South Locations: London, New York, South Carolina

☆ Elon Musk: OpenAI is lying when it says it is not using copyrighted data
▼ + stars: | 2023-11-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailElon Musk: OpenAI is lying when it says it is not using copyrighted dataElon Musk sits down with Andrew Ross Sorkin at the 'New York TImes' DealBook Summit' on a wide-ranging interview including anti-semitism, an advertiser boycott, Tesla, AI and more.

Persons: Elon, Elon Musk, Andrew Ross Sorkin Organizations: Elon

Shein aims to win over Wall Street and WashingtonIn filing confidentially for an initial public offering, Shein, the ultrafast-fashion retailer, is showing ambition on two fronts. The company and its underwriters are betting that investors will be more receptive to I.P.O.s, even though high-profile market debuts this fall largely fizzled out. Shein is also testing whether it can endure what’s likely to be an increase in political heat on the China-founded e-commerce giant. The company has also set up operations in Ireland and Indiana and hired an array of lobbyists in the U.S. “No one should be fooled by Shein’s efforts to cover its tracks,” Senator Marco Rubio, Republican of Florida, wrote in a letter to other lawmakers.

Persons: Marco Rubio Organizations: Wall, Washington, underwriters, Republican Locations: China, Washington, Singapore, Nanjing, Ireland, Indiana, U.S, Florida

Charles T. Munger, who quit a well-established law career to be Warren E. Buffett’s partner and maxim-spouting alter-ego as they transformed a foundering New England textile company into the spectacularly successful investment firm Berkshire Hathaway, died on Tuesday in Santa Barbara, Calif. His death, at a hospital, was announced by Berkshire Hathaway. Mr. Buffett has described him as the originator of Berkshire Hathaway’s investing approach. “The blueprint he gave me was simple: Forget what you know about buying fair businesses at wonderful prices; instead, buy wonderful businesses at fair prices,” Mr. Buffett once wrote in an annual report. That investing strategy was a revelation for Mr. Buffett, who had made his name in the 1950s buying troubled companies at deep discounts.

Persons: Charles T, Munger, Warren, Berkshire Hathaway, Mr, Buffett, — Forbes, — Organizations: Berkshire Locations: England, Santa Barbara, Calif, Los Angeles, Berkshire

Leslye Davis and“DealBook Summit” includes conversations with business and policy leaders at the heart of today’s major stories, recorded live at the annual DealBook Summit event in New York City. As the annual DealBook Summit approaches, the DealBook founder and Business reporter Andrew Ross Sorkin looks back at the highlights from last year’s summit, including his interview with the former FTX chief executive Sam Bankman-Fried. The collapse of FTX cascaded in November 2022, culminating in a Chapter 11 bankruptcy filing. Bankman-Fried’s lawyers had advised him not to speak to the press, but he called in to the DealBook Summit from the Bahamas anyway, and delivered his first interview since news of the scandal broke almost a month earlier.

Persons: Leslye Davis, Andrew Ross Sorkin, Sam Bankman, cascaded Locations: New York City, Bahamas

on trialThe Supreme Court will hear a landmark case this week that could determine the future of the S.E.C.’s in-house enforcement arm and have serious consequences for how other regulators operate. Jarkesy was found guilty in an administrative proceeding overseen by an administrative law judge. But he won a later challenge to that process in federal court, saying that the Seventh Amendment guaranteed the right to a jury trial. Most justices have shown an inclination to limit agency power and this is just one of several cases challenging the power of federal regulators. The Supreme Court is also mulling the future of the Consumer Financial Protection Bureau and whether to overrule a principle that requires judges to defer to agencies’ interpretations of administrative rules.

Persons: Napoleon, ”, George Jarkesy, Jarkesy Organizations: Disney, Consumer Financial Protection Bureau

Overnight, OpenAI announced that it had an “agreement in principle” to reinstall Sam Altman as C.E.O., while the board members who pushed him out are departing. The news was greeted rapturously by the ChatGPT creator’s employees, most of whom had threatened to quit and join Altman at Microsoft. Altman and those focused more on commercializing the technology came out ahead of those worried about its apocalyptic potential. Gone are Tasha McCauley, Helen Toner and Ilya Sutskever, three of the four directors who ousted Altman. That board will help select a bigger permanent one, according to The Verge, which may include representation for Microsoft, OpenAI’s biggest investor.

Persons: OpenAI, Sam Altman, Altman, Tasha McCauley, Helen Toner, Ilya Sutskever, Bret Taylor, Larry Summers, Adam D’Angelo, Satya Nadella, Microsoft’s, ” Organizations: Microsoft, Treasury Locations: Silicon

Microsoft had no official say with the board when Altman, the company’s key contact, was fired. That is partly as a hedge for the fact it has no control over the start-up’s board. It involves the holy grail of OpenAI’s work: achieving artificial general intelligence, or A.G.I. Scott Syphax, a corporate governance expert, told DealBook that the deal could raise red flags with regulators if it threatens the nonprofit’s tax-exempt status. Another area Syphax is watching: the valuation that Microsoft placed on OpenAI after its investment and whether it acquired the I.P.

Persons: Altman, Nadella, Kara Swisher, Brockman, ”, Microsoft’s, Scott Syphax, DealBook, Bill Gurley, Satya Organizations: Microsoft, Times Locations: “, Grubhub

of OpenAI, the leader in commercializing generative A.I. By Monday, he had not only been fired by his board — he had also joined Microsoft, the start-up’s biggest backer. A recap:OpenAI’s board fired Altman for not being “consistently candid.” Greg Brockman, another co-founder, was stripped of his chairman title and quit. Talks to bring Altman back broke down, with OpenAI’s board eventually naming Emmett Shear, the former C.E.O. (Some OpenAI employees workers wrote on X that “OpenAI is nothing without its people,” posts that Altman liked.)

Persons: Sam Altman, Altman, Greg Brockman, OpenAI —, —, Emmett Shear, Mira Murati, Brockman, Ilya Sutskever, Elon Musk, Geoffrey Hinton Organizations: Microsoft, up’s, OpenAI Locations: OpenAI, ChatGPT

Social media’s antisemitism problemThe rise in antisemitism since the outbreak of war in the Middle East has ignited a clash between Wall Street donors and universities, and divided some workplaces. Now, the pressure is building on social media platforms, particularly Elon Musk’s X and TikTok, with advertisers, celebrities and influencers pulling spending and confronting executives about the proliferation of hate speech. He posted to X his support for white nationalist conspiracy theories that Jewish communities were spreading hatred. Yaccarino was brought in to win back advertisers after Musk bought Twitter last year and culled many content moderators. More than a dozen Jewish celebrities and creators, including the actors Sacha Baron Cohen, Debra Messing and Amy Schumer, confronted TikTok executives this week.

Persons: Elon Musk’s, Adolf Hitler, Musk, X’s, Linda Yaccarino, Yaccarino, “ Linda, ” Martin Sorrell, DealBook, TikTok, Sacha Baron Cohen, Debra Messing, Amy Schumer, “ Hitler, Anne Frank ”, Cohen, ”, Osama bin, bin Laden, —, Alex Haurek, George Santos, Biden, Xi Jinping, Doug McMillon, Walmart’s, “, ” Brian Cornell, ’ Organizations: IBM, Media, America, Nazi Party, Apple, Oracle, Defamation League, Twitter, S4 Capital, House, Big, General Motors, Hyundai, Republican, Justice Department, Business, APEC, West Texas Intermediate, Consumers, Depot, Walmart Locations: TikTok, New York, Hong Kong, China, San Francisco, Beijing, Washington, U.S

Biden and Xi try direct diplomacyThe mood music was upbeat but pragmatic after the first face-to-face meeting in a year between President Biden and his Chinese counterpart, Xi Jinping. There was no joint communiqué after Wednesday’s talks, but both sides issued positive statements trumpeting where they found common ground, including on tackling climate change and improving communications. The leaders agreed to restart military communications that were suspended last year after Nancy Pelosi, then speaker of the House, visited Taiwan. Larry Fink of BlackRock and Steve Schwarzman of Blackstone reportedly sat at the Chinese leader’s table. The measure would keep the federal government funded through early next year, clearing the way for President Biden to sign the legislation.

Persons: Biden, Xi, Wednesday’s, Nancy Pelosi, —, Larry Fink, BlackRock, Steve Schwarzman, Blackstone, Tim Cook, Albert Bourla, Ray Dalio, ” Richard McGregor, DealBook, “, they’re, Kamala Harris, Elon Musk, Jensen Huang, Nelson, Trian Organizations: Hyatt Regency, Apple, Pfizer, Bridgewater Associates, Lowy Institute, SpaceX, Tesla, Nvidia, Disney, ValueAct Capital, 13D, Microsoft Locations: San Francisco, U.S, Taiwan, China, Beijing, Iran, Israel, Australia, Ukraine

Good news for global marketsYesterday’s impressive rally in U.S. stocks and bonds has gone worldwide this morning, as investors see central banks making gains in their fight against inflation. Adding to the good news was a breakthrough in the House last night that could avert a government shutdown. The question now is whether this represents a false dawn on inflation, or the start of a durable decline in rising costs — and interest rates. President Biden, whose poll ratings have been hurt by inflation, also cheered the numbers. And consumer spending and industrial output in China rebounded last month, a hopeful sign for the world’s No.

Persons: Biden Locations: Britain, China

What to watch for in Tuesday’s inflation numberThe markets have rebounded from their fall swoon — with the S&P 500 up more than 7 percent over the past two weeks — as investors grow more optimistic that the Fed is done raising interest rates. That conviction will be put to the test with a new batch of inflation data this week, starting with Tuesday’s Consumer Price Index data at 8:30 a.m. Eastern. It arrives amid deep divisions on Wall Street over the Fed’s next move, and as inflation weighs heavily on President Biden’s poll numbers. Tuesday’s figure could signal that progress on inflation is slowing. That’s no better than the September figure, and well above the Fed’s 2 percent target.

Persons: Biden’s Organizations: Tuesday’s, Wall, Deutsche Bank

The summit won’t end the standoff between the world’s biggest economies. But it’s a sign that Biden and Xi want to maintain ties, despite trade tensions, tit-for-tat sanctions and questions about the future of Taiwan — and business leaders will be hoping for some sign of a thaw. Officials have been at pains to emphasize that the U.S. and China are competitors rather than zero-sum rivals. “We have a $700 billion trading relationship with China. The vast majority — 99 percent of that — has nothing to do with export controls,” Gina Raimondo, the commerce secretary, told CNN this weekend.

Persons: Biden, Xi Jinping, Xi, —, ” Gina Raimondo, Jake Sullivan, Janet Yellen, ” Xi, ” Organizations: CNN Locations: China, Washington, Beijing, San Francisco, Taiwan

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