Days of our Tariffs
Planet Money uses producer James Sneed's surprise tariff bill on a collectible Arthur toy to illustrate how modern tariffs hit individual consumers, including unexpected brokerage fees and customs processes. Trade lawyer Lenny Feldman explains how changes to the de minimis exemption and importer-of-record rules push more tariff and processing costs onto buyers, while economist Alberto Cavallo shows, using large-scale price data, that recent tariffs have raised imported-goods prices by about 6%, domestic-goods prices by about 3.5%, and overall inflation by roughly 0.7 percentage points. The episode concludes that U.S. consumers are clearly paying for tariffs, often in ways that are not visible at the time of purchase.
Flight Cancellation Chaos, SNAP Ruling, and U.S.-Canada Trade War
In this live Pivot taping from Toronto, hosts Kara Swisher and Scott Galloway discuss escalating U.S. flight delays tied to FAA staffing and a government shutdown, using airline safety and history to illustrate how policy choices affect economic vitality and public trust. They examine the U.S. Supreme Court's handling of SNAP food benefits, child hunger, and what budget priorities reveal about American values, before turning to U.S.-Canada tariffs, asymmetric trade benefits, Canadian efforts to diversify away from the U.S., and missed innovation opportunities. The episode also explores progressive urban politics, models of modern masculinity, debates over state-run grocery stores versus higher minimum wage, falling cross-border tourism, and audience questions on defending democracy, advertising careers, and AI-driven disinformation.
TIP767: Mastermind Discussion Q4 2025: Sanofi, Remitly & Crocs w/ Stig Brodersen, Tobias Carlisle, and Hari Ramachandra
The episode is a quarterly mastermind discussion where Stig Brodersen, Tobias Carlisle, and Hari Ramachandra each pitch an investment idea and stress-test each other's theses. Hari presents Sanofi as a relatively cheap, dividend-paying global biopharma with durable vaccine and immunology franchises that he views as a "T-bill with growth" type holding. Stig analyzes Remitly, a fast-growing digital remittance platform, weighing its strong unit economics and underbanked niche against strategic drift, intense competition, and heavy stock-based compensation, while Toby pitches Crocs as a deeply undervalued, cash-generative footwear brand facing fashion, tariff, and acquisition risks but offering significant upside if issues are managed.
Mamdani's Win, Palantir's Stock Slide, and Tesla's Pay Package
Hosts Kara Swisher and Scott Galloway discuss recent U.S. election results, including Zoran Mamdani's New York mayoral win and Democratic gains nationwide, and analyze generational and gender divides in voting alongside structural inequality in education and child poverty. They debate income-based affirmative action and tax enforcement, examine the Supreme Court case over Trump's tariffs and the investment implications of possible refunds, and explore the growing privatization of space, Palantir's soaring valuation versus Michael Burry's short, right‑wing flirtations with extremism, and the looming shareholder vote on Elon Musk's massive Tesla pay package.
Everything's more expensive!! Pet care!! Concert tickets!! (Two Indicators)
This episode presents two Indicator stories on the rising cost of living, focusing first on concert ticket prices and then on veterinary care. The hosts examine how ticket reseller bots, mispricing by artists, and the secondary market contribute to high concert prices, as well as how one state is trying to regulate resales. They then explore why veterinary costs have risen much faster than general inflation, highlighting Baumol's cost disease, higher input and labor costs, corporate ownership pressures, and stronger emotional bonds between pet owners and their animals.
Crypto Pardon, Amazon Automation, and Reagan Tariff Ad
Kara Swisher and Scott Galloway discuss Kara's trip to Korea, plastic surgery culture among tech workers, and Donald Trump's tariff threats against Canada triggered by an Ontario ad using Ronald Reagan's anti-tariff speech. They analyze U.S.-China trade and the pending TikTok deal, Trump's pardon of Binance founder CZ and what it signals about corruption and crypto, Amazon's push to automate its warehouses with robots, and Trump's bailout of Argentina, framing these stories within a broader critique of speculative gambling economics and erosion of rule-of-law, before closing with reflections on sports betting and the war in Ukraine.
How Russia's shadow fleet is sailing around oil sanctions
The episode investigates Russia's "shadow fleet" of aging oil tankers that has emerged to evade Western sanctions and the G7 oil price cap imposed after Russia's 2022 invasion of Ukraine. A Danish maritime pilot, Bjarne Cesar Skinnerup, describes guiding increasingly numerous, poorly maintained tankers carrying Russian oil through the Danish Straits, while maritime intelligence specialist Michelle V.C. Bachman explains how the fleet is structured using opaque ownership, fake insurance, and permissive or fraudulent flags. The hosts explore how this underground shipping network reshapes global oil flows, sustains Russian revenues, raises geopolitical tensions, and creates severe environmental and financial risks for coastal nations, while leaving individuals like Bjarne in a moral bind.
Cheaper Teslas, OpenAI's Cash Burn, and Apple's CEO Succession Plans
Kara Swisher and Scott Galloway discuss Tesla's newly announced cheaper but downgraded Model 3 and Model Y, and what the moves reveal about intensifying EV competition, Tesla's shrinking market share, and the company's stretched valuation. They analyze OpenAI's massive compute deals with NVIDIA and others as signs of a potential AI bubble and explain how AI-driven market gains concentrate risk and give political cover for Trump's aggressive policies. They also cover the surge in gold prices and what it signals about confidence in the U.S. dollar, Apple's emerging CEO succession plan around John Ternus, bank lobbying over a potential Fannie Mae/Freddie Mac IPO, National Guard deployments and ICE raids in U.S. cities, and close with predictions on the Nobel Peace Prize and the length of the government shutdown alongside personal anecdotes.
BOARD GAMES 1: We're making a game
Planet Money goes inside the modern board game industry as they embark on creating their own economics-themed tabletop game. They follow the journey of first-time designer and publisher Leonie Grundler, whose game Biome became a Kickstarter hit, and then meet Exploding Kittens co-creator Alon Lee to explore whether their game should be a complex Eurogame or a mass-market party game. Along the way, they unpack crowdfunding, manufacturing, tariffs, and the importance of core game mechanics while setting up a partnership to develop a smart but broadly appealing party game.
Saudi Comedy Festival Controversy, Threads' Major Milestone, and Trump's Movie Tariff
Kara Swisher and Scott Galloway discuss Donald Trump's proposed 100% tariff on movies made outside the U.S., arguing it would damage Netflix, Hollywood, and global content arbitrage, and then pivot to the Saudi state-backed Riyadh Comedy Festival, criticizing free-speech-branded comedians who accepted contracts barring criticism of the kingdom and religion. They examine consumer backlash that forced Sinclair and Nexstar to restore Jimmy Kimmel, Threads surpassing X in daily active users and changing media consumption habits, Trump's pressure-driven TikTok divestment plan that advantages major donors, his retribution-focused indictment of James Comey, the economic stupidity of tariffs and farm bailouts, and close with wins and fails plus a brief call for tighter limits on AI products for children.