How FTX Found Billions to Repay Customers

For over a century, the NCAA has refused to pay athletes. After a recent settlement, that’s going to change. The organization has agreed to set aside $2.8 billion in back payments for some student athletes and moving forward, allow players to get a cut of television revenue. WSJ’s Jared Diamond explains what it might mean for the future of college athletics. Further Reading: -NCAA Agrees to Share Revenue With Athletes in Landmark $2.8 Billion Settlement  -He Was the $13 Million QB Recruit. Now He’s Suing the Boosters Who Never Paid Up.  Further Listening: -Why an Ivy League Basketball Team Voted to Unionize  -The TikTok That Changed College Hoops  Learn more about your ad choices. Visit megaphone.fm/adchoices

Trillion Dollar Shot, our new series about drugs like Ozempic, will be back next week. Until then, we think you’d enjoy a show from our friends over at Science Vs, a podcast that takes on fads, trends and the opinionated mob to find out what’s fact, what’s not and what’s somewhere in between. This episode examines the fears around the new class of blockbuster weight-loss drugs. This episode does deal with depression and suicidal thoughts. If you are in the U.S. and need help, dial 988. Full list of international hotlines here.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Elon Musk’s Neuralink is on a mission to enable humans to communicate with computers using their thoughts. Now they have successfully implanted their device in a human.. WSJ's Rolfe Winkler explores the new technology and speaks to Noland Arbaugh, Neuralink's first participant. Further Reading: - Elon Musk’s Neuralink Shows First Patient Using Its Brain Implant  - Elon Musk’s Neuralink Gets FDA Green Light for Second Patient, as First Describes His Emotional Journey  Further Listening: - Elon Musk's 'Demon Mode'  - Elon Musk on 2024 Politics, Succession Plans and Whether AI Will Annihilate Humanity   Learn more about your ad choices. Visit megaphone.fm/adchoices

Paris Hilton and her husband, VC investor Carter Reum, talk about "strict" parenting, the importance of A.I. and the huge economic value of her spoiled airhead persona. Ryan Knutson sat down with the couple at The Wall Street Journal’s Future of Everything Festival.  To watch the video, check out the episode on Spotify. Further Reading: -Paris Hilton’s Business Empire Is Getting a Makeover Further Listening: -The Business of Dua Lipa Learn more about your ad choices. Visit megaphone.fm/adchoices

Florida condominium buildings are undergoing inspections after the state set new requirements for how often the structures are put to the test. WSJ's Deborah Acosta explores how costs in one building have climbed to over $134,000.  Further Reading: - New Florida Law Roils Its Condo Market Three Years After Surfside Collapse  - Florida Condo Owners Brace for New Inspection, Reserve Requirements  Further Listening: - Who's in Charge of Fixing Miami's Aging Condos?  - The Mixed Signals from the Collapsed Condo's Past  Learn more about your ad choices. Visit megaphone.fm/adchoices

Seven months into the war, Hamas is far from defeated. The Islamist militant group is using guerrilla tactics and a vast underground tunnel network to evade Israeli forces. WSJ’s Jared Malsin reports on how the group’s resilience is stoking fears in Israel that it is walking into a forever war. Further Reading: -Hamas Shift to Guerrilla Tactics Raises Specter of Forever War for Israel  -ICC Prosecutor Seeks Arrest Warrants for Netanyahu, Hamas Leader Sinwar  -Israel War Cabinet Member Sets Ultimatum and Threatens to Quit Government  Further Listening: -A Deadly Strike on Aid Workers in Gaza  -The UN Agency Accused of Links to Hamas  Learn more about your ad choices. Visit megaphone.fm/adchoices

Meme stocks took off last week after an unexpected tweet appeared from “Roaring Kitty,” a social media account associated with former financial consultant Keith Gill. He's credited with igniting the meme stock movement in 2021. WSJ’s Jon Sindreu explains the re-emergence of Roaring Kitty and what it means for the meme stock movement. Further Reading: - ‘Roaring Kitty’ Came Out of Hibernation. Is the Meme Stock Craze Bac k? - Is Roaring Kitty the Internet’s Warren Buffett?  Further Listening: - To the Moon  - Donald Trump’s Meme Stock Moment  Learn more about your ad choices. Visit megaphone.fm/adchoices

As demand for the new class of GLP-1 weight-loss drugs skyrockets, one thing has stood in the way of many people trying to access them: cost. With a price tag around $1,000 a month for U.S. patients and many insurance companies refusing to cover these drugs for weight loss, patients are often turning to alternatives. In episode two of “Trillion Dollar Shot,” we look at the roadblocks to making these drugs more affordable, concerns that their high cost will negatively impact U.S. insurance systems, and the sometimes risk-laden options people are turning to in desperation. Listen: Trillion Dollar Shot, Episode 1: Birth of a Blockbuster   Learn more about your ad choices. Visit megaphone.fm/adchoices

The Pacific Surfliner train in Southern California runs along some of the most beautiful coastlines in America. But some fear it might soon fall into the ocean. WSJ’s Jim Carlton reports on how coastal erosion is impacting an iconic train route and the controversial plans to move parts of the line inland.   Further Reading: - The Race to Keep an Amtrak Train From Falling Into the Pacific  Further Listening: - What Caused a Train to Derail in East Palestine, Ohio?  Learn more about your ad choices. Visit megaphone.fm/adchoices

Jim Simons pioneered a revolution in financial trading, embracing a computer-oriented, quantitative style in the 1980s well ahead of Wall Street. Following Simons’ recent death, WSJ’s Gregory Zuckerman unpacks his legacy from financial algorithms to philanthropy.  Further Reading: -How Did Jim Simons’s Firm Make $100 Billion? He Told His Secrets to Our Reporter  -Jim Simons, a Pioneer of Quantitative Trading, Dies at 86  -The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution  Further Listening: -Charlie Munger: Curmudgeon, Sage and Investing Legend  -Rise and Revolt at Renaissance, Part 1  -Rise and Revolt at Renaissance, Part 2  Learn more about your ad choices. Visit megaphone.fm/adchoices