A Year on Ozempic & Speaker Johnson’s Job Save 05/09/24

Former President Donald Trump was found guilty on 34 felony counts of falsifying business records related to a hush money payment made to a porn star before the 2016 election. Following the verdict, Trump's campaign raised $34.8 million from small-dollar donors in less than seven hours, nearly doubling its single-day fundraising record and crashing the donation website. CNBC’s Brian Schwartz discusses the implications for the election in November. Plus, veteran tech investor and longtime Democrat donor Alan Patricof discusses Silicon Valley's political ties, the 2024 race, and the AI industry's impact on tech valuations. At the Consensus conference in Austin, former NYSE president and Bullish CEO Tom Farley shares both Presidential candidates’ approaches to crypto, and weighs in on the politicization of digital assets.  Brian Schwartz - 03:10Alan Patricof - 16:55Tom Farley - 27:20 In this episode:Brian Schwartz, @schwartzbCNBCTom Farley, @thomasfarleyJoe Kernen, @JoeSquawkBecky Quick,@BeckyQuickAndrew Ross Sorkin,@andrewrsorkinZach Vallese, @zachvallese

Foot Locker posted better-than-expected comparable sales as CEO Mary Dillon’s turnaround plan shows signs of success. Dillon discusses the company’s “Lace Up” strategy, innovations in sneakers, and catering to all kinds of consumers. The Wall Street Journal’s Emily Glazer shares her scoop: former President Trump is considering a special advisor role for Elon Musk, should he win the presidency. Plus, Nelson Peltz sells his entire share of Disney stock, ExxonMobil shareholders voted to confirm the board after an activist fight, and McDonald’s says, prices are not too high.  Mary Dillon - 11:44Emily Glazer - 23:03 In this episode:Emily Glazer, @emilyglazerJoe Kernen, @JoeSquawkBecky Quick,@BeckyQuickAndrew Ross Sorkin,@andrewrsorkinCameron Costa, @CameronCostaNY

After two activist investors pushed ExxonMobil to reduce emissions, the company sued the activists, prompting them to withdraw their proposal. The litigation has cost ExxonMobil’s board the support of CalPERS, the largest public pension fund in the U.S. and a $1B stakeholder in Exxon. CalPERS CEO Marcie Frost discusses her position ahead of the company’s shareholder meeting on Wednesday, and U.S. Chamber of Commerce EVP of Capital Markets Competitiveness Tom Quaadman explains why the U.S. Chamber backed Exxon in its lawsuit against the activist investors. Plus, economist and University of Maryland professor Melissa Kearney says decades-long concerns of overpopulation were misguided; advanced economies are facing fiscal troubles as their working age populations dwindle.  Frost - 05:02Quaadman - 17:18Kearney - 26:16 In this episode:Becky Quick,@BeckyQuickAndrew Ross Sorkin,@andrewrsorkinCameron Costa, @CameronCostaNY

The McDonald’s $5 value meal is coming in June, aimed at relieving inflation-weary consumers. But franchisees are also inflation-weary; Scott Rodrick, a franchisee in California, discusses the pressures at his restaurants and the difficulty of offering value in a high-cost environment. The Department of Justice has filed an antitrust lawsuit against Live Nation, aiming to split up the parent company and Ticketmaster, its subsidiary. CEO of competitor SeatGeek Jack Groetzinger discusses competition for ticketing and best experiences for fans. The Tesla shareholder vote on Elon Musk’s pay deal is coming soon, but it’s only one of multiple weekend headlines on the tech billionaire. Musk’s startup xAI has notched another $6B in funding, pushing the company’s valuation to $24B. Musk is also reportedly planning an xAI supercomputer. Plus, China has created a nearly $48B fund to back Chinese chip companies, CNBC’s Eunice Yoon reports.  Eunice Yoon - 08:01Jack Groetzinger - 13:26Scott Rodrick - 22:09 In this episode:Eunice Yoon @onlyyoontvBecky Quick,@BeckyQuickAndrew Ross Sorkin,@andrewrsorkinCameron Costa, @CameronCostaNY

Dan Doctoroff is the New Yorker largely responsible for rebuilding New York after 9/11. The legacy of his long career in business and government includes his oversight as deputy mayor in the creation of now-iconic spots: Hudson Yards, the High Line, Brooklyn Bridge Park, the new World Trade Center. Doctoroff reflects on his life and career two years after receiving his ALS diagnosis and shortly after learning about a project that celebrates his contributions to New York. In a surprise tribute, his friends and colleagues wrote, “The Urbanist: Dan Doctoroff and the Rise of New York.” Andrew Ross Sorkin sits down with Doctoroff in the Whitney Museum for a look at his legacy and his supercharged nonprofit venture, Target ALS, in this special Memorial Day episode.  In this episode:Andrew Ross Sorkin,@andrewrsorkinKatie Kramer,@Kramer_Katie

The NCAA has signed off on a deal that could change college sports–and student athletes–forever. Chair of Carolina Coastal University Athletics Joe Moglia discusses the $2.8B that could be coming to college players over the next decade, as well as the winners and losers in a new business plan for university athletics. Elon Musk says he doesn’t support President Biden’s tariffs on Chinese EVs, Novo Nordisk says Ozempic could slow kidney disease, and the number of 401(k) millionaires has hit a new high. Plus, Nick and Gabe Safier have been spreading joy and special needs advocacy on social media. The brothers and creators of the Safier Universe join Becky Quick and Andrew Ross Sorkin for a conversation on the bright side of the internet.  Joe Moglia - 13:14Nick and Gabe Safier - 24:28 In this episode:Joe Moglia, @CoachJoeMogliaNicholas Safier, @NicholasSafierBecky Quick,@BeckyQuickAndrew Ross Sorkin,@andrewrsorkinKatie Kramer,@Kramer_Katie

The Department of Justice has sued Live Nation, the parent of Ticketmaster. Attorney General Merrick Garland alleged that the company “relies on unlawful, anticompetitive conduct to exercise its monopolistic control over the live events industry in the United States at the cost of fans, artists, smaller promoters, and venue operators.” Tim Wu, former Special Assistant to the President for Technology and Competition Policy, considers the DOJ’s potential actions moving forward. In Paris, Andrew Ross Sorkin sat down with French President Emmanuel Macron for an exclusive, extended interview. The discussion spans Federal Reserve and European Central Bank policy, as well as the Israel-Hamas War and funding to rebuild Gaza. Plus, Nvidia’s revenue more than tripled in its latest quarter.  President Emmanuel Macron - 13:40Tim Wu - 22:05 In this episode:President Emmanuel Macron, @EmmanuelMacronTim Wu, @superwusterBecky Quick,@BeckyQuickAndrew Ross Sorkin,@andrewrsorkinMichael Santoli, @michaelsantoliKatie Kramer,@Kramer_Katie

The 2024 campaign cycle is in full swing. Pollster Frank Luntz discusses the candidate appeals to voters, and the first debate’s details that remain unconfirmed. President Biden announced a plan to forgive $7.7B in student loans, former President Trump will start accepting crypto donations, and challenger Robert F. Kennedy Jr. is rallying retail traders on X.  Plus, Urban Outfitters brands Free People and Anthropologie performed well in the last quarter, Vivek Ramaswamy has taken a stake in Buzzfeed, and CNBC’s Phil LeBeau reports that America’s cars are aging. Almost 9% of registered vehicles in the U.S. were made before 2000.  Frank Luntz - 13:53Phil LeBeau - 21:51 In this episode:Frank Luntz, @FrankLuntzPhil LeBeau, @LebeaucarnewsBecky Quick,@BeckyQuickAndrew Ross Sorkin,@andrewrsorkinMichael Santoli, @michaelsantoliKatie Kramer,@Kramer_Katie

Scarlett Johansson is taking aim at OpenAI after the company used a voice “eerily similar” to hers for its ChatGPT40 chatbot. Former White House CTO Aneesh Chopra weighs in on the controversy, the latest leadership shakeups at OpenAI, and the ways to build guardrails for society’s newest technology. Whole Foods co-founder and former CEO John Mackey shares his journey bringing health foods mainstream. Mackey discusses his new book, “The Whole Story,” as well as GMOs and the future of grocery. Plus, JPMorgan’s Jamie Dimon is discussing his succession plan, and Andrew Ross Sorkin is in Paris just 66 days until the 2024 Olympic Games.  John Mackey 16:46Aneesh Chopra 32:17 In this episode:Joe Kernen,@JoeSquawkBecky Quick,@BeckyQuickAndrew Ross Sorkin,@andrewrsorkinKatie Kramer,@Kramer_Katie

Iran’s President Ebrahim Raisi has died in a helicopter crash. Karim Sadjadpour, senior fellow at the Carnegie Endowment for Peace Middle East Program, explains the issues Raisi’s death poses for Iranian leadership and succession. Hayman Capital Management founder and CIO Kyle Bass discusses China’s real estate crisis, its impact on GDP, and the CCP’s electric vehicle strategy. CNBC’s Kristina Partsinevelos explains Microsoft’s plans for AI PCs, many of which will be unveiled at the company’s Build developer conference. Plus, Xander Schauffele won his first major PGA title, and Blue Origin’s tourism rocket launched passengers to the edge of space after a two year hiatus.  Karim Sadjadpour - 16:15Kyle Bass - 22:50 Karim Sadjadpour, @ksadjadpourKyle Bass, @JkylebassJoe Kernen,@JoeSquawkBecky Quick,@BeckyQuickKatie Kramer,@Kramer_Katie