The Powers That Be: Daily

Matt Belloni joins Peter to dig into Ari Emanuel’s blistering new memoir—a score-settling account that revisits the chair he nearly hurled at Michael Ovitz and his decades-long grudge against Jeffrey Katzenberg. Then they turn to Monday’s Emmy awards, unpacking Apple’s sweep and the politics of Stephen Colbert’s win over John Oliver.

Bill Cohan joins Peter to discuss his new book, Money to Burn, tracing Apollo’s founding after Drexel’s 1990 collapse, its meteoric rise built on distressed debt investments, and leadership under co-founder Leon Black. The pair also dig into Black’s close ties with Jeffrey Epstein—the $158 million in fees and the affair scandal that ended his CEO reign—and what his fall means for everyone who kept Epstein close.

Jon Kelly joins Peter to unpack Pat McAfee’s takeover of ESPN’s marquee sports coverage, and why the network would rather license his self-owned production for $60 million per year than keep paying a salaried anchor like Stephen A. Smith. Then they digest MS NOW’s new $7.99-a-month subscription play, arguing why winning over cable-free fans of Rachel Maddow and Lawrence O’Donnell could succeed where CNN+ once failed.

Lauren Sherman joins Peter to report from New York Fashion Week, where insiders are fretting over a looming luxury slowdown—and the middle-class shoppers propping up the biggest brands. Then they size up new-ish GQ editor Adam Baidawi, whose bid to redefine the title’s masculinity has yet to produce a clear vision, seven months in.

Marianna Sotomayor joins Peter from Dallas, where Republicans are gathering for a midterm convention that’s fast becoming a Trumpapalooza—even as they privately grapple with new data giving Democrats a strong shot at retaking the House. The pair also unpack her conversation with a characteristically upbeat Speaker Mike Johnson, and size up Ken Paxton’s uphill Senate bid in a Texas race Republicans no longer take for granted.

Dylan Byers joins Peter to break down Maria Bartiromo’s sudden exit from Fox News after forwarding internal guidance to Peter Navarro, which triggered an angry call from the White House. Then they preview Sunday’s high-stakes ‘60 Minutes’ debut under Bari Weiss and Nick Bilton, and why the show’s real vulnerability isn’t sloppy journalism, but the perception of editorial spin.

Ian Krietzberg joins Peter to unpack new revelations from OpenAI’s postmortem on this summer’s Hugging Face hack, in which the company’s agents broke their sandbox to infiltrate the open-source A.I. platform—and, it turns out, OpenAI’s infrastructure too. Then the pair dig into Bernie Sanders’ bill to ban superintelligence, aimed at a phenomenon that even researchers can’t agree on how to define.

Jon Kelly and Peter Hamby reunite to dissect the NBA’s punishing verdict against Steve Ballmer and the Los Angeles Clippers, and why ESPN’s since-contradicted report clearing Ballmer has become its own cautionary tale about journalistic humility. Then the pair turn to Anna Wintour’s stunning Met Gala misfire, unpacking her push to rehabilitate the image of disgraced designer John Galliano—and what it reveals about the twilight of her once-untouchable reign at Condé Nast.

John Ourand joins Peter to unpack the Clippers scandal shaking the NBA—Steve Ballmer's furious response to penalties for skirting the salary cap with Kawhi Leonard, and the ESPN scoop it undercut. Plus: Tony Romo’s future at CBS, and why the NFL sent its best Week 1 game to Melbourne.

Julia Ioffe joins Peter to illuminate the stunning resignation of Dan Driscoll, the Army’s top civilian leader: his friendship with JD Vance, media rivalry with Pete Hegseth, his push to modernize the military and inevitable clash with Boeing, Lockheed, and Raytheon. Then they turn to Hegseth’s political decapitation of DoD leadership and Driscoll’s final, Hail Mary attempt to alert Trump to the true extent of the chaos inside the Pentagon. 

Eriq Gardner joins Peter to explain why Meta’s settlement with state attorneys general is less about the $18 billion price tag than the precedent it sets: courts writing the rules for social media. Then they dig into the deal’s wildest clause—an extra $5 billion if regulators get TikTok, Snap, and YouTube on board—and why litigation may be the only path left for policing Big Tech.

Marion Maneker joins Peter to remember Yayoi Kusama, the Japanese artist who died last week at 97, and unpack her multifaceted career—from a polka-dot obsession to her LVMH collaborations and museum-conquering studio. Then they dig into a recent Bloomberg article claiming Baby Boomers’ art collections may not find younger buyers, and why megadealer Larry Gagosian spies a buying opportunity.

The besties Jon Kelly and Peter dig into Hollywood’s embrace of Johnny Depp’s comeback, proving real movie stars remain rare enough to forgive almost anything—even among the audiences likeliest to hold a grudge. Then they turn to the backlash emanating from Stanley Druckenmiller’s A.I.-assisted ‘WSJ’ op-ed, and why the paper is standing by it.

Julia Alexander joins Peter to unpack Meta’s landmark $17 billion settlement with U.S. states over claims Instagram and Facebook harmed teens—and why fixes like two-hour limits and midnight curfews might be easy to dodge. Then they get into Kalshi’s push into sports media, including a possible tie-up with The Athletic and The New York Times, and what it means for journalism’s growing embrace of prediction markets.

Dylan Byers joins Peter to break down 60 Minutes’ star-studded, controversy-shadowed relaunch under Bari Weiss and Nick Bilton: its new correspondents, the internal drama, and whether the show’s reputation—and Weiss’s—survives its September 13th debut. Then they unpack The New York Times’s quest for its own AI search tool, betting that readers want to talk to the paper the way they talk to ChatGPT.

Leigh Ann Caldwell joins Peter to break down Alexandria Ocasio-Cortez’s mounting 2028 presidential calculus, which is colliding with her new single life while she chronicles her egg-freezing journey in real time. The pair walk through her options, her calculated endorsement restraint this primary season, and why encouraging early-state polling numbers still can’t erase real doubts about her general-election viability.

Bill Cohan joins Peter to break down the swift, bipartisan grassroots revolt against data centers and the A.I. companies racing to build them—from Josh Shapiro’s about-face in Pennsylvania to Kathy Hochul’s New York moratorium—and why Wall Street’s trillion-dollar financing spree suggests nobody’s slowing down yet. Then the pair try to wrap their heads around why Bitcoin is suddenly surging after a brutal year.

The besties Jon Kelly and Peter reunite to examine the New York Times’s uneasy relationship with creator-journalists like Pablo Torre, whose bombshell Clippers investigation—now contradicted by ESPN’s reporting—may not have survived The Gray Lady’s standards desk. Then they turn to MS NOW’s $8-a-month streaming offering, and whether a partisan network can build a subscriber business the way The Bulwark has.

Malique Morris joins Peter to unpack J.Crew’s preppy renaissance—buoyed by buzzy campaigns with Bad Bunny and Jasmine Tookes—and why all that reclaimed cool may not be showing up on the balance sheet. Then they dig into Vette, Condé Nast’s ambitious new affiliate-marketing venture, and debate whether shoppers will really flock to influencer-run storefronts over the retailers they already know.

Julia Ioffe joins Peter to discuss how Trump’s cascading misadventures in the Middle East are hanging over the midterms—driving up gas prices, scrambling party politics on Iran and Gaza, and fueling more insurgent challengers than ever. Then they turn to the president’s renewed tariff threats, and how Israel could become the defining litmus test issue of 2028.

Ian Krietzberg joins Peter to unpack the backlash against Flock, the fast-growing surveillance-camera startup whose automated license plate readers are popping up (and being torn down) across the country. Then the pair examine how Democratic operatives are mining opt-in ChatGPT and Gemini transcripts to craft ads for voters who’ve tuned politics out.

Marianna Sotomayor joins Peter from her home state of Florida to unpack today’s primaries, beginning with Ron DeSantis—still polling above Trump, yet oddly absent from the race to replace him. Then they survey the down-ballot field, from a Senate seat Democrats have all but conceded to House primaries crowded with carpetbaggers.

Jon Kelly and Peter reunite for a California edition of Media Monday, starting with the standoff between AG Rob Bonta and David Ellison, who’s threatening to pull Paramount out of the state unless Bonta drops his antitrust suit against the Warner Bros. merger. Then they turn to Bob Iger and Josh Kushner’s staggering $12.5 billion deal for the Lakers, and the private equity money reshaping sports.

Jonathan Greenberger, the unconventional editor in chief of Politico, joins Dylan to explain how a business-side executive ended up running the newsroom—and what it means for Politico's future. They discuss the relaunch of Playbook and its early scoop streak, the push to make every franchise multi-platform (podcasts, video, events), and Politico's bet that its global footprint can turn political disruption into a worldwide story. Greenberger also opens up about newsroom AI hackathons, the competitive threat from Punchbowl and Notus, and his pitch to TV talent thinking about jumping ship.

Bill Cohan joins Peter to explain why deep-pocketed investors are muscling into pro sports, from Apollo’s $2.6 billion investment in the Yankees to Josh Kushner and Bob Iger’s $12.5 billion grab for the Lakers. Then the two weigh whether even blue-chip franchises have a ceiling, and whether buyers shelling out record prices have simply gotten caught up in deal heat.

Marianna Sotomayor joins Peter to unpack the stunning collapse of Francesca Hong’s gubernatorial bid in Wisconsin, where a late establishment cash dump and unflattering press erased her double-digit lead against David Crowley. Then they survey the rest of the primary wreckage, from a grassroots Senate upset in Minnesota to a generational shakeup in Connecticut, and what it all says about a Democratic party hungry for new blood.

Lauren Sherman joins Peter to unpack how the Olsen twins built The Row into a nearly $400 million luxury juggernaut, and why the brand sits at a crossroads as quiet luxury falls out of fashion. Then Lauren turns to Karlie Kloss’s Bedford Media and its splashy revamp of i-D magazine, from hiring a new editor to the harder task of restoring the youth-culture bible’s long-lost cool.

Ian Krietzberg joins Peter to unpack a cascade of security snafus at the major A.I. labs, starting with the OpenAI model that broke loose from its sandbox and hacked Hugging Face—only for Anthropic and Meta to discover their own models had quietly done the same. Then Ian breaks down Congressman Ted Lieu’s bipartisan Kill Switch Act and the Trump administration’s new, curiously classified framework for reviewing frontier models, and why a real reckoning may await the first truly catastrophic event.

Jon Kelly chats up Dylan Byers, sitting in for Peter Hamby, about the subliminal intentions of David Ellison’s NYT op-ed and the headwinds facing new Business Insider C.E.O. Christian Baesler.

Lauren’s guest today is French journalist and L’etiquette editor-in-chief Marc Beaugé. They go in-depth on the six-part Le Monde series on Bernard Arnault; Marc even watched the standup comedy special released by Xavier Niel, the billionaire investor and husband of Delphine Arnault, so you don't have to. They also discuss the destruction of Bally with its current owner, Michael Reinstein, in the tabloids, as well as L’etiquette’s special issue on 100 icons of French style and whether women should wear ties.

Eriq Gardner joins guest host Dylan Byers to preview the media trial of the century between California and Paramount over the looming merger of Paramount and Warner Bros. Discovery. Eriq breaks down all of the second- and third-order effects of the case, how it’s affecting the Ellisons and Zaslav, and what it all signals about the growing regulatory power of state attorneys general.

Marianna Sotomayor joins guest host Leigh Ann Caldwell to dig into the week’s big primaries, with a focus on how Abdul El-Sayed’s surprising win over Haley Stevens could help reunite a fractured Democratic Party. They break down El-Sayed’s appeal to younger voters and the biggest challenges awaiting him in November’s general. They also examine Speaker Mike Johnson’s hands-off approach to members with troubled histories like Reps. Max Miller and Cory Mills—and how Johnson’s handling of scandals differs from that of past speakers like Paul Ryan and John Boehner.

Julia Ioffe joins guest host Leigh Ann Caldwell to discuss Republican foreign policy in a post–Lindsey Graham world. They dig into the outsized influence Graham held over Trump’s approach to Ukraine, Iran, and Israel—and what his absence means going forward. They also revisit Julia’s exclusive reporting on Laura Loomer, the MAGA influencer who recently turned from Putin apologist to Zelensky cheerleader.

Bill Cohan joins Peter to discuss how the frozen Paramount-Warner Bros. merger has left David Zaslav in an awkward spot—hamstrung by deal terms that require the Ellisons’ sign-off on virtually everything. Bill lays out what Zaz can and can’t do while the deal sits in limbo—then considers whether the irrationally exuberant world of Wall Street I.P.O.s can ever actually be reformed.

Jon Kelly and Peter weigh in on the potential fallout from delaying the WarnerMount merger, as Gov. Gavin Newsom raises concerns about what blocking the deal could mean for Hollywood jobs and the state economy. Then the duo chew over ESPN’s recent town hall, where new executive Mike Foss urged talent to “embrace authenticity” and adopt digital trends while keeping their combative on-air personalities front and center.

Marion Maneker joins Peter to report back from a recent round of conversations with the leaders of the four major auction houses about the art market’s big comeback—and the buyers driving it at the top. Marion also explains why the market for sports cards, collectibles, and memorabilia, Pokémon cards included, has gotten so scorching that even the fine art world is taking notice.

Marianna Sotomayor joins Peter for a close look at two Senate races giving both parties heartburn this midterm season: South Carolina and Michigan. In South Carolina, Darline Graham—Lindsey Graham’s sister, running with a Trump endorsement despite a thin political résumé—has scrambled the picture. Meanwhile in Michigan, Democrats worry they could squander a winnable seat in a critical battleground if Abdul El-Sayed, the insurgent progressive backed by Bernie Sanders, wins the competitive primary.

Ian Krietzberg joins Peter to weigh the political fallout from a startling security breach at OpenAI, where one of the company’s own models broke loose and hacked into an outside company without their knowledge. The duo dig into A.I.’s emerging potential to commit crimes and why A.I. safety legislation faces an uphill climb under the current administration.

Lauren Sherman joins Peter to discuss Le Monde’s six-part investigation series on LVMH boss Bernard Arnault and his family—which got under Arnault’s skin so much it prompted the elder statesman to join X to respond publicly. Lauren also gets into the anonymous Instagram account making life difficult for Vogue France, and why Vogue’s regional editions across the globe are suddenly under a microscope.

Besties Jon Kelly and Peter reunite to discuss the power players in media, politics, and private equity who quietly helped bring LeBron to Philadelphia. Then they turn to the ESPN layoffs and make the case that the future of sports belongs to formats like the Manningcast and personalities like McAfee, not the traditional studio-reporter model. They also break down Netflix’s most recent engagement report and pick apart what’s working for the streamer—and what isn’t.

In this special episode, Sen. Dave McCormick joins Leigh Ann Caldwell to lay out his energy-first agenda. McCormick argues for regulatory certainty and permitting reform, addresses the enduring conflict with Iran and its impact on gas prices, gets into his surprising partnership with Democratic Sen. John Fetterman, and much more. 

John Ourand joins Peter to break down the latest round of layoffs at ESPN and the financial pressures behind them, from eye-watering NBA and NFL rights fees to the NFL Network acquisition and the pivot toward stars like McAfee and Stephen A. Then they turn to Tom Brady’s cringey “divorced dad” P.R. tour, including his latest publicity stunt with Logan Paul—and whether he’s quietly scuffing his once-pristine brand inside Fox.

Bill Cohan joins Peter to make sense of the A.I. and SpaceX hype cycles driving the market’s fever pitch. Then Bill breaks down how the war in Iran has sent gas prices climbing—though not as high as many initially feared—and digs into the factors quietly staving off a broader global energy crisis.

Julia Ioffe joins Peter to discuss the mystery of F.B.I. director Kash Patel’s voyage to Russia, which has left even Trump administration insiders stumped for answers. Then Julia turns to Lindsey Graham’s final legislative wish—a Russia sanctions bill tied to the war in Ukraine—and why it’s suddenly carrying new momentum in the wake of his death.

Eriq Gardner joins Peter to get into the legal weeds of the antitrust lawsuit targeting the Paramount–WBD merger. Eriq breaks down how the Democratic attorneys general are aiming to delay the process, hoping that a drawn-out fight will squeeze David Ellison and Paramount’s legal team on both political and financial fronts. 

In this special episode, Brian Tyler Cohen, progressive content creator and author of The Day After, joins Peter to diagnose the Democratic Party’s persistent media problem. Cohen digs into why the party's reliance on traditional press has left it flat-footed against Trump’s effective use of various platforms. He also takes aim at the F.C.C. under Brendan Carr, and makes the case that broader outreach—and far less infighting—is the only way forward for his party.

Sharing a new series from Future Hindsight, Occupy! An Unfinished Uprising. Occupy Wall Street is the story of the improbable becoming possible. In 2008, millions of people were devastated by an economic crash caused by Wall Street greed, but it wasn’t until 2011 that there was a mass response from the Left. A call to protest went out, and thousands of people responded. They raged against a system that was rigged against them and tried to create their own anti-capitalist village in a small Manhattan park. The movement quickly spread across the country, inspiring hundreds of occupations and a new generation of activists.Occupy! An Unfinished Uprising, is told through the voices of activists who camped out in Zuccotti Park for almost two months, getting inside the drama of a movement that grew rapidly, felt both transcendent and chaotic, and then violently flamed out. Occupy changed the national conversation about capitalism, popularized the language of the 99%, and inspired a generation of activists. As we approach Occupy’s 15th anniversary this September, this series offers a reminder that collective action can reshape what seems possible. Listen to more episodes at http://swap.fm/l/Occupy!

Malique Morris joins Peter to examine the fall of Spanx, whose elastane stranglehold on the category loosened dramatically once the Kardashians and Skims entered the picture. Then Malique explains why so many retailers and fashion brands are looking outside the industry entirely to bring in executives from unrelated fields to overhaul their products and storytelling.

Dylan Byers joins Peter to break down the strengths and weaknesses of the 12-state antitrust lawsuit brought by Democratic attorneys general in a bid to block the Paramount–Warner Bros. merger. Then Dylan digs into the anxieties gripping CBS News, where 60 Minutes is just about two months out from their new season amid the mass exodus of on-air talent and producers.

Ian Krietzberg joins Peter to break down Apple’s shocking lawsuit against OpenAI, which accuses Sam Altman’s company of running a sweeping corporate espionage campaign to steal trade secrets from Cupertino. Then Ian gets into the politics of A.I. this midterm season—and why voter anxiety about A.I. and data centers hasn’t quite caught fire at the ballot box yet.