Bloomberg Businessweek Weekend – January 9th, 2026

Date: January 10, 2026
Hosts: Carol Massar & Tim Stenovec

Overview

This episode covers a tumultuous start to 2026, spotlighting global political turbulence, dramatic shifts in energy markets, and the latest in business, technology, and luxury. The main focus is on the U.S. military action in Venezuela and its impact on geopolitics, global markets, energy supplies, and domestic policy. Other segments include an in-depth look at AI-driven energy demand, innovations in the luxury auto market, and top trends in luxury watches.

Main Segments & Key Insights

1. The U.S. Raid in Venezuela: Political and Economic Fallout

Timeframes: 02:02–11:04, 11:18–16:22

Background

• The U.S. orchestrated a surprise raid removing Venezuelan President Nicolás Maduro, shocking analysts and even Maduro himself.
• Eric Schatzker (Bloomberg New Economy) describes the unlikeliness and international surprise at the operation.

Key Discussion Points

• Geopolitical Impact:
  • The intervention was speculated to be driven by U.S. interests in securing Venezuelan oil, limiting Chinese, Russian, and Iranian influence, and addressing critical mineral access.
  • Maduro’s Vice President, Delsey Rodriguez, is now acting as interim president. Schatzker describes her as “pragmatic” and instrumental in stabilizing Venezuela post-2018.
• Venezuelan Future:
  • Schatzker: “First and foremost, it needs a government. Doesn't really have a government right now.” (07:03)
  • Democratic transition is improbable in the short run due to weak institutions; a caretaker government is more likely.

Notable Quote

• “Taking out Maduro and reaching some, at least interim agreement... they've boxed out the Chinese. This is... the national security strategy in action.” – Eric Schatzker (10:24)

2. Can Venezuela's Energy Sector Save its Economy?

Timeframes: 11:32–16:22

Guest: Francisco Rodriguez (University of Denver, Center for Economic and Policy Research)

Key Discussion Points

• Sanctions & Humanitarian Concerns:
  • The U.S. has enabled some oil exports but restricts sales to adversaries (notably China).
  • Rodriguez notes the lack of humanitarian or democratic preconditions tied to U.S. actions, despite Venezuela’s economic contraction of 71% and looming humanitarian crisis.
• Short-term vs. Long-term Solutions:
  • Oil sector recovery is the only viable short-term fix. “More than 90% of its exports have been oil for the last 110 years. You're not going to transform this overnight.” (14:37)
  • Funds must reach Venezuela to avert mass migration and famine.

Notable Quote

• “This money has to come back to Venezuela... Otherwise you're going to have a massive, massive humanitarian crisis.” – Francisco Rodriguez (15:50)

3. Global Markets & The New World Order

Timeframes: 19:33–31:54

Guest: Peter Chear (Head of Macro Strategy, Academy Securities)

Key Insights

• Market Reactions:
  • Financial markets quickly absorbed the Venezuela strike, with oil and gold rallying but little overall disruption.
  • Chear says much of the U.S. agenda is shaped by competition with China, especially in critical minerals and shipping lanes (Panama Canal, etc.).
• U.S. Strategy – “Production for Security”:
  • Focus on domestic resilience across energy, semiconductors, and rare earth minerals, possibly marking a global retreat from free-market globalization.
  • The Trump administration is likely to “deregulate,” favoring solar, nuclear, and domestic infrastructure – but “wind’s a step too far” for Trump due to personal aversion. (24:41)
• Reshaping Supply Chains:
  • Expect more investment in North and Central America; global supply chains are being re-evaluated for security and control.

Memorable Moments

• On manufacturing jobs: “If people can go back to working for, you know, I hate to say the word, but say it like national champions, right? ... you probably go home feeling slightly safer about your job.” (28:50)
• Global trends: “For every single commodity or product, every country is going to have an X amount they want to do themselves, Y with close neighbors, and Z on the open market.” (27:55)

4. Energy Markets & the AI Power Boom

Timeframes: 32:13–41:14

Guest: Ken West (President/CEO, Honeywell Process Technology)

Key Insights

• Infrastructure is the Bottleneck:
  • Demand for energy, driven by AI, data centers, and reshoring of manufacturing, is outpacing grid and infrastructure capacity.
  • Major focus is on optimizing existing refineries, accelerating LNG (liquefied natural gas) projects, and expanding access to biomass and renewables.
• Tech Integration:
  • Honeywell’s digital solutions increase efficiency and reliability, crucial given workforce shortages in energy sectors.
• Energy Mix for the Future:
  • A combination of optimizing current infrastructure, accelerating transitional fuels (especially LNG), and renewable/bio-based power.
  • Geographic growth: U.S. Gulf, Sub-Saharan Africa, Middle East, Asia.

Notable Quote

• “The need on energy is greater today than it has ever been... we see the need just continuing to grow.” – Ken West (34:28)

5. EVTOL Air Taxis: Urban Air Mobility Takes Flight

Timeframes: 44:42–54:39

Guest: Adam Goldstein (Founder/CEO, Archer Aviation)

Key Insights

• Regulatory Pathway:
  • The FAA, under an executive order from Trump, is accelerating the integration of EVTOL (electric vertical takeoff and landing) aircraft in select U.S. cities.
• Industry Structure:
  • Goldstein likens the space to the early days of self-driving cars (“Waymo Moment”). Most companies will compete to survive until full certification.
  • Archer’s focus is on manufacturing and selling aircraft rather than operating air taxi services directly—at least in early years.
• Cost & Accessibility:
  • Goal is to bring per-unit costs down to $2.5 million for operators, targeting ride-share-like price levels for consumers.

Memorable Quote

• “Our goal is to get the cost of the aircraft down to two and a half million... you get down to prices that are similar to the high end of rideshare. So think like Uber black.” – Adam Goldstein (53:43)

6. Luxury Autos: 2025’s Hottest Hybrid Is a Benz

Timeframes: 55:01–62:22

Guest: Hannah Elliott (Bloomberg Auto Columnist)

Key Insights

• Luxury Market Trends:
  • Luxury and hybrid sales boomed in 2025, with the average new car topping $50,000 for the first time.
  • Elliott’s “Car of the Year”: Mercedes AMG 63 S E Performance—a hybrid V8 with 800+ hp, praised for its versatility and lack of range anxiety.
• Hybrids vs. EVs:
  • High-end consumers prefer hybrids over EVs for now due to practicality and performance.
  • Brands pivoting: “Jury's still out” on whether high-end buyers want EVs, but Audi and Cadillac (joining F1) seen as brands to watch for innovation and cachet.

7. Luxury Watch Trends & the Value of Metals

Timeframes: 69:18–81:33

Guests: Chris Rouser (Bloomberg Pursuits Editor-at-Large), Felix Salmon (Bloomberg News Senior Writer)

Key Insights

• 2025 Watch Trends:
  • Secondary market prices for luxury watches soared, with a shift towards bold colors, 60s–80s design cues, and stone dials.
  • Notable models: Salmon-dialed watches, the Andy Warhol-style Piaget, colorful Studio Underdog watches.
• Metals Market:
  • Gold now trades well above platinum by weight, upending traditional perceptions of value.
  • Some watches now trade nearly at melt value for their gold content, especially from less collectible brands.
  • Despite platinum’s “prestige,” in reality, gold watches are often more valuable by material.

Notable Quotes

• “There’s twice as much metal value in the gold watch... than in the more expensive [platinum] one.” – Felix Salmon (77:47)
• “[Platinum] has a sense of, of feeling more weighty. It's harder to work with... but honestly, gold watches...are becoming the thing that people sort of want, even though it's pretty gaudy.” – Chris Rouser (76:29, 80:40)

Memorable Quotes & Moments

• On the U.S. Venezuela Raid:
  “People who've been watching Venezuela for decades...didn’t see this coming.” – Eric Schatzker (03:52)
• On China’s Geopolitical Stakes:
  “If they get pushed out of Venezuela...the rest of the world, where they put out their Belt and Road Initiative, starts looking at that...” – Peter Chear (20:57)
• On behind-the-scenes energy innovation:
  “[We] take those billions of data points and...provide predictive potential solutions...to augment their workforce.” – Ken West (35:51)

Episode Flow/Timestamps

• 02:02 – Show opens; Venezuela upheaval and global impacts
• 03:36–11:04 – Interview with Eric Schatzker on the Maduro raid
• 11:32–16:22 – Francisco Rodriguez on Venezuela’s economic crisis
• 19:33–31:54 – Peter Chear on global markets and the “new world order”
• 32:13–41:14 – Ken West on the energy crunch, AI and manufacturing resurgence
• 44:42–54:39 – Archer Aviation’s Adam Goldstein on EVTOL urban air mobility
• 55:01–62:22 – Luxury auto trends with Hannah Elliott
• 69:18–81:33 – The best watches of 2025, luxury timepieces, and metals market

Closing Thoughts

The episode captures a world in flux: the U.S. flexes its geopolitical muscle, Venezuela’s future hangs in the balance, and global supply chains, energy strategies, and even luxury markets are being rapidly reimagined. From policy and markets to watches and cars, the contest between tradition and innovation—and the search for security—defines the early days of 2026.

For more, check Bloomberg Businessweek on weekdays or streaming platforms for live updates and insights from global leaders and market experts.