How Your Credit Card Makes Money

On this week’s TLDR, what one bad bet from Wells Fargo can teach us about how credit card companies make all their money. And, the children of the ultra-rich are getting their inheritances soon. How do they plan to invest their fortunes? Plus, Canada’s most storied comedy festival is cancelled — maybe forever? What this not-so-funny development tells us about the state of the arts.This episode was hosted by Devin Friedman, business reporter Sarah Rieger, managing editor Kat Angus and former hedgefunder Matthew Karasz. Follow us on other platforms, or subscribe to our weekly newsletter: linkin.bio/tldrThe TLDR Podcast is offered by Wealthsimple Media Inc. and is for informational purposes only. The content in the TLDR Podcast is not investment advice, a recommendation to buy or sell assets or securities, and does not represent the views of Wealthsimple Financial Corp or any of its other subsidiaries or affiliates. Wealthsimple Media Inc. does not endorse any third-party views referenced in this content. More information at wealthsimple.com/tldr.