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Mark Zuckerberg had a dinner-table ultimatum with his board, which came after months of wrangling over the company's financing needs and a proposed California wealth tax. Meta will offer a new class of non-voting shares to existing investors, and Zuckerberg will have a special agreement that will give him the ability to sell some of that stock without diluting his majority voting power. Ed Ludlow, Bloomberg Tech Host has the details. Plus, Jackie Reses, co-founder and CEO of Lead on becoming one of a handful of billionaires to buy a bank - and one that's growing exponentially. Max Levchin, CEO of Affirm on Affirm break down the latest news on his company's exclusive Buy Now, Pay Later partnership with Sam’s Club. And Nancy Tengler, CEO & CIO, Laffer Tengler Investments reacts to Meta and Tesla earnings.
Chapters:
00:00:00 Bloomberg Businessweek Daily
00:01:51 Markets: Chips Plunge & Bond Yields Fall
00:05:10 Meta, Zuckerberg & the AI Spending Boom
00:09:24 Meta's New Stock Structure & Zuckerberg's Control
00:15:48 Founder Wealth, Taxes & Voting Power
00:21:15 Lead Bank & the Future of Fintech
00:24:20 How Banking Is Becoming Embedded Everywhere
00:26:10 AI Agents & the Future of Banking
00:30:00 Fintech, Banks & the AI Opportunity
00:34:25 Affirm & Sam's Club Team Up
00:35:54 Buy Now, Pay Later & Consumer Spending
00:39:05 Affirm vs. Credit Cards
00:43:10 Markets: Tech Stocks & Moderna Slide
00:45:04 Stock Movers: Tesla, Meta & Airlines
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