Squawk Pod

Ahead of the Tesla shareholder vote on Elon Musk’s pay package, Ark Invest CEO and CIO Cathie Wood discusses her new, raised 2029 price target for Tesla. As a Tesla investor and an xAI investor, Wood explains her belief in Elon Musk, Tesla’s robotaxi strategy, Apple’s entrance into AI, and this new era of innovation. Plus, the Federal Reserve will hold rates steady, CNBC’s Steve Liesman reports. In an exclusive interview, Treasury Secretary Janet Yellen discusses the labor market, housing’s pressure on inflation metrics, and her latest op-ed about supporting Ukraine’s war effort with earnings from billions of seized Russian sovereign assets. Janet Yellen - 11:40 Cathie Wood - 28:43 In this episode: Cathie Wood, @CathieDWood Secretary Janet Yellen, @SecYellen Steve Liesman, @steveliesman Becky Quick,@BeckyQuick Andrew Ross Sorkin,@andrewrsorkin Katie Kramer,@Kramer_Katie

Steve Ballmer, former Microsoft CEO and LA Clippers Chairman founded the data-driven not-for-profit USAFacts. He’s ready to deliver his economic data to Congress and push for transparency in government. Former Republican Speaker of the House Kevin McCarthy is out of his seat but not out of politics. The former lawmaker discusses the 2024 race and explains why this time, the election is more about President Biden than it is about former President Trump. Good economic news, from the Labor Department: May’s CPI data shows that inflation could be loosening its hold on the US economy. CNBC’s Steve Liesman considers the implications for the Federal Reserve’s interest rate strategy. A flurry of headlines have emerged from the Elon Musk universe, including Musk’s dropped lawsuit against OpenAI, hidden likes on X, and personal relationships at SpaceX. Plus, competitive eater Joey Chestnut is between a hot dog and an Impossible hot dog…and fans of Nathan’s hot dog eating contest will miss out on the reigning champion this year. Steve Ballmer - 14:47 Kevin McCarthy - 28:21 In this episode: Kevin McCarthy, @SpeakerMcCarthy Steve Liesman, @steveliesman Joe Kernen, @JoeSquawk Becky Quick,@BeckyQuick Andrew Ross Sorkin,@andrewrsorkin Katie Kramer,@Kramer_Katie

Apple has entered the AI arms race. WSJ personal tech columnist Joanna Stern discusses the OpenAI-Siri integration, Genmoji, privacy, and Elon Musk’s reaction to Apple’s announcements at the company’s Worldwide Developers Conference. In the wake of EU elections and a shift to the political right across the bloc, Council on Foreign Relations president emeritus Richard Haass considers implications for US politics. He says it’s a tough time for incumbents, and it’s an uncertain world for whoever wins in the upcoming election. Plus, former media executive Edgar Bronfman is reportedly considering a bid for Paramount’s parent company, CNBC’s Emily Wilkins reports on the bipartisan support to crack down on hotel junk fees, and an FDA advisory panel has endorsed Eli Lilly’s Alzheimer’s drug. Richard Haass - 13:29 Joanna Stern - 22:23 In this episode: Joanna Stern, @JoannaStern Emily Wilkins, @emrwilkins Joe Kernen, @JoeSquawk Becky Quick,@BeckyQuick Andrew Ross Sorkin,@andrewrsorkin Katie Kramer,@Kramer_Katie

Less than 5 months from Election Day, two economic policy experts discuss the sticking points in Bidenomics and Trumponomics. Former President Trump’s 2024 senior economic advisor Steve Moore and former CEA chair under President Obama Jason Furman discuss taxes, tariffs, and energy policy. In a discussion about regulation, former FDIC chair Sheila Bair argues in a recent op ed, not all mergers are bad for consumers. Plus, the far right made big gains in the EU’s elections, Caitlin Clark was not chosen for Team USA, and GameStop tumbled 40% after meme stock enthusiast Keith Gill AKA Roaring Kitty held a livestream. Steve Moore & Jason Furman - 12:20 Sheila Bair - 25:39 In this episode: Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

This bonus episode of Squawk Pod, from our partners at “The Keynote,” features the two most important players in the Biden Administration’s comprehensive reshaping of antitrust law. Federal Trade Commission Chairperson Lina Khan, and U.S. Assistant Attorney General for the Antitrust Division Jonathan Kanter joined Andrew Ross Sorkin at the CNBC CEO Council Summit on June 4th 2024. They spoke about how they have reinvigorated antitrust enforcement, the challenges and opportunities of the digital age and why they feel empowered to act. Plus, one reveals their “Swiftie” status. To listen to other interviews from events check out “The Keynote by CNBC Events” here: https://podcasts.apple.com/us/podcast/the-keynote-by-cnbc-events/id1493248246. For information on upcoming events visit: CNBCevents.com. In this episode: Lina Khan, @linakhanFTC Jonathan Kanter, @JusticeATR Andrew Ross Sorkin,@andrewrsorkin Katie Kramer,@Kramer_Katie

The Atlantic contributing writer and happiness guru Arthur Brooks discusses happiness and the upcoming Presidential election; he says, we can all still like each other, even in the face of political polarization. CNBC’s Brian Schwartz reports that former President Trump’s campaign raised $12m at a San Francisco fundraiser, and CNBC’s Steve Liesman reports on May’s jobs report, which came in much hotter than expected. Tesla investor Cathie Wood is backing Elon Musk in his pay deal debate. Plus, Happy Donut Day! Founders of Rise Doughnuts Hugh Mangum and Laura Malone share their sweet small business story to celebrate the day. Steve Liesman - 2:52 Brian Schwartz - 7:39 Arthur Brooks - 13:42 Hugh Mangum & Laura Malone 29:45 In this episode: Arthur Brooks, @arthurbrooks Brian Schwartz, @schwartzbCNBC Steve Liesman, @steveliesman Joe Kernen, @JoeSquawk Becky Quick,@BeckyQuick Andrew Ross Sorkin,@andrewrsorkin Katie Kramer,@Kramer_Katie

In a rare interview, Tesla Chair Robyn Denholm discusses the upcoming shareholder vote on Elon Musk’s pay package. She discusses Musk’s leadership and Tesla’s growth trajectory. New York Governor Kathy Hochul has paused the NYC congestion pricing plan indefinitely; NJ Representative Josh Gottheimer explains why he and many other New Jerseyans are celebrating. Plus, Nvidia has hit the $3T mark, and Boeing’s outgoing CEO Dave Calhoun will testify before the Senate on his way out of the C-suite. Josh Gottheimer - 12:13 Robyn Denholm - 24:37 In this episode: Joe Kernen, @JoeSquawk Becky Quick,@BeckyQuick Andrew Ross Sorkin,@andrewrsorkin Katie Kramer,@Kramer_Katie

At the Tesla shareholder meeting on June 13th, shareholders will vote (again) on Elon Musk’s compensation package. Longtime Tesla believer and billionaire Ron Baron says he’s voting for the package. In an extended interview, Baron discusses the billions of dollars he has wrapped up in the ‘Elon Musk Ecosystem,’ and how each venture will eventually help the others. CNBC’s Diana Olick explains the state of the housing market, the FCC is looking into AT&T’s latest outage, and The New York Times is reporting that Israel has conducted a covert social media campaign to influence Democrat lawmakers. Ron Baron - 09:35 Diana Olick - 32:50 In this episode: Joe Kernen, @JoeSquawk Becky Quick,@BeckyQuick Andrew Ross Sorkin,@andrewrsorkin Cameron Costa, @CameronCostaNY

Jeffrey Katzenberg led The Walt Disney Studios, he founded DreamWorks, he made Shrek, and now he’s doubling down on tech and cybersecurity investing at WndrCo. Katzenberg and Sujay Jaswa, his co-founder at WndrCo, discuss their $460m raise and their bets on AI’s impact across tech and entertainment. Plus, the Hollywood mogul comments on the potential Paramount-Skydance merger and his faith in Bob Iger. Deputy Treasury Secretary Wally Adeyemo has returned from Ukraine and joins Andrew Ross Sorkin at the CNBC CEO Council Summit in Washington, DC. Deputy Sec. Adeyemo discusses the Russian war machine, inflation pressures for American consumers, and the Biden administration’s message to China. Today’s other headlines include Intel’s newest chip and the latest meme stock mania. Jeffrey Katzenberg & Sujay Jaswa - 16:47 Wally Adeyemo - 31:50 In this episode: Wally Adeyemo, @wallyadeyemo Joe Kernen, @JoeSquawk Becky Quick,@BeckyQuick Andrew Ross Sorkin,@andrewrsorkin Katie Kramer,@Kramer_Katie

GameStop's stock surged again, fueled by speculation that Keith Gill might hold a significant position in the video game retailer. CNBC's Dominic Chu discusses the meme stock craze. Reid Hoffman, a partner at Greylock and co-founder of Inflection AI and LinkedIn, talks about the launch of 'Reid AI,' his own 'digital twin.' He (the real Hoffman) shares his thoughts on the future of AI, the dangers of deepfakes, and the current state of the AI arms race. And, Cleo Abram, host of the popular internet show "Huge If True," weighs in on the creator economy, the role of AI, and whether YouTubers should be considered for Emmy awards. Plus, Nvidia announces new AI chips and OPEC announces production cuts. Reid Hoffman 12:07 Cleo Abram 28:03 Reid Hoffman, @reidhoffman Dom Chu, @thedomino Cleo Abram, @cleoabram Joe Kernen, @JoeSquawk Becky Quick,@BeckyQuick Andrew Ross Sorkin,@andrewrsorkin Zach Vallese, @zachvallese

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 - 03:10 Alan Patricof - 16:55 Tom Farley - 27:20 In this episode: Brian Schwartz, @schwartzbCNBC Tom Farley, @thomasfarley Joe Kernen, @JoeSquawk Becky Quick,@BeckyQuick Andrew Ross Sorkin,@andrewrsorkin Zach 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 - 11:44 Emily Glazer - 23:03 In this episode: Emily Glazer, @emilyglazer Joe Kernen, @JoeSquawk Becky Quick,@BeckyQuick Andrew Ross Sorkin,@andrewrsorkin Cameron 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 - 05:02 Quaadman - 17:18 Kearney - 26:16 In this episode: Becky Quick,@BeckyQuick Andrew Ross Sorkin,@andrewrsorkin Cameron 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 - 08:01 Jack Groetzinger - 13:26 Scott Rodrick - 22:09 In this episode: Eunice Yoon @onlyyoontv Becky Quick,@BeckyQuick Andrew Ross Sorkin,@andrewrsorkin Cameron 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,@andrewrsorkin Katie 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 - 13:14 Nick and Gabe Safier - 24:28 In this episode: Joe Moglia, @CoachJoeMoglia Nicholas Safier, @NicholasSafier Becky Quick,@BeckyQuick Andrew Ross Sorkin,@andrewrsorkin Katie 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 - 13:40 Tim Wu - 22:05 In this episode: President Emmanuel Macron, @EmmanuelMacron Tim Wu, @superwuster Becky Quick,@BeckyQuick Andrew Ross Sorkin,@andrewrsorkin Michael Santoli, @michaelsantoli Katie 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 - 13:53 Phil LeBeau - 21:51 In this episode: Frank Luntz, @FrankLuntz Phil LeBeau, @Lebeaucarnews Becky Quick,@BeckyQuick Andrew Ross Sorkin,@andrewrsorkin Michael Santoli, @michaelsantoli Katie 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 16:46 Aneesh Chopra 32:17 In this episode: Joe Kernen,@JoeSquawk Becky Quick,@BeckyQuick Andrew Ross Sorkin,@andrewrsorkin Katie 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 - 16:15 Kyle Bass - 22:50 Karim Sadjadpour, @ksadjadpour Kyle Bass, @Jkylebass Joe Kernen,@JoeSquawk Becky Quick,@BeckyQuick Katie Kramer,@Kramer_Katie