Bloomberg Businessweek Weekend: November 14th, 2025

Hosts: Carol Massar & Tim Stenovec
Air Date: November 15, 2025

Episode Overview

This episode of Bloomberg Businessweek Weekend takes listeners through major stories shaping the week in business, economics, and culture. The highlights include an in-depth look at the end of the record-breaking 43-day U.S. government shutdown, the pervasive reality and implications of the "K-shaped" American economy, conversations with industry leaders about business trends and challenges, health and food policy, as well as an investigation into the impact of social media algorithms on youth mental health. Later, the show travels to Provence with a regenerative wine producer.

Key Segments and Insights

1. The Longest US Government Shutdown Ends

[03:26 – 11:18]
Guest: Josh Green, Bloomberg Businessweek National Correspondent

Key Points:

• The 43-day shutdown ended unexpectedly when eight Senate Democrats crossed party lines, sparking grassroots anger and confusion within the party.
• Grassroots Democrats (and some prominent Party leaders like Elizabeth Warren and Governor Gavin Newsom) criticized this as a failure, believing it gave Republicans a win and squandered Democratic leverage.
• The shutdown was less "blame game" than usual due to President Trump's distraction with personal projects (e.g., White House ballroom construction, parties), which led to diffuse messaging and accountability.
• There was notable political harm to Republicans as images of White House luxury events contrasted with stories of everyday Americans losing food stamp access.
• A potential long-term impact is the spotlight on rising ACA premiums, which, not addressed during the shutdown, may drive public pressure on Republicans when rates rise.
• While Democrats negotiated a procedural agreement to vote on extending Obamacare subsidies, it is expected to fail in a Republican-controlled Congress.
• Ultimately, the responsibility for resolving the fallout rests with the GOP:

  "Republicans control Congress, they control the White House. The buck stops with them." – Josh Green (11:09)

Memorable Quote:
"I think there's another, kind of quieter realist wing of the party that looked in the mirror and said, look, there's really no clear winning exit strategy. We've got to pull the plug at some time." – Josh Green [04:14]

2. America’s K-Shaped Economy: Winners, Losers, and A Fading Dream

[12:16 – 21:16]
Guest: Peter Atwater, Financial Insights President & College of William & Mary Lecturer

Key Discussion Points:

• Atwater reflects on five years discussing the “K-shaped economy,” marked by a financial boom for the top and persistent, deepening struggle for those at the bottom.
• The “ladder” promising upward economic mobility is gone; U.S. is moving towards a “caste system” with entrenched disadvantage at the bottom.
• Consumer sentiment split: the affluent quickly regained confidence post-COVID, while the lower half has faced accumulating hardship in food, childcare, housing, and credit.
• The upper "K" segment is now tightly interwoven with financial markets, yielding overconfidence and fragility.
• The “meritocracy” no longer functions; with first-time homeownership occurring much later, wealth accumulation for younger generations has stalled.
• Urgent policy recommendations: policymakers must recognize widespread, bipartisan rage and address “stacked vulnerabilities” (education, healthcare, opportunity), not with handouts, but with expanded access to job training and real economic participation.
• Historical precedent warns:

  "When it becomes widespread, those with nothing to lose will gladly go after those with everything to lose." – Peter Atwater [17:59]

Memorable Quote:
"I would describe it, yeah, as a handful of folks who feel invulnerable in a mounting sea of despair." – Peter Atwater [13:30]

3. Industry Health Check: Magna International’s CEO on Tariffs, Trade, and EVs

[24:11 – 34:50]
Guest: Swami Kotagiri, CEO, Magna International

Key Insights:

• Tariffs have added ~$200 million in annualized costs, but aggressive cost restructuring (across 40 divisions) and partnership with customers has offset most of the impact.
• Demand destruction was predicted but hasn't been as severe; North American car production volumes are stable (15–16 million units), with Magna’s growth coming from increased content per vehicle and diversification.
• North American trade tensions have strained but not broken the longstanding US-Canada auto supply chain; CEO remains optimistic for longer-term policy clarity.
• EV retrenchment (delays and cuts by major U.S. automakers) is a challenge in North America, but Magna’s global footprint (notably in China and Europe where EV adoption continues) and propulsion-agnostic products provide resilience.
• Signs of macroeconomic “stress” are visible, yet automotive demand appears robust because of high fleet age and normal inventories.

Notable Quote:
"It's definitely been strained, right? But... I’m still hopeful that policy is going to get to a point where it’s mutually beneficial to everyone." – Swami Kotagiri [30:22]

4. Axon Enterprise: Growing Pains Amid Surging Value

[36:48 – 47:43]
Guest: Rick Smith, CEO, Axon Enterprise

Discussion Highlights:

• Despite a 3,300% run-up in share price since 2015, Axon’s latest results disappointed investors due to higher costs (tariffs, stock compensation) and two rapid acquisitions.
• Smith urges focus on long-term growth, not quarterly stock volatility; company continues investing in AI, cloud-based voice solutions, and sees strong bookings ahead.
• Axon’s core Taser business is mature in the U.S., but new products may unlock growth overseas, especially in Europe.
• Software/services now account for 61% of revenue – a flip from 2017 – and offer higher margins; the “magic” for customers is the integration of hardware and software.
• Addresses concerns over surveillance tech and responsible data use: Axon consults with an ethics advisory council and opts for open data sharing standards with competitors.
• On government partnerships: Axon enables local choice in data sharing, not imposing company standards on agencies.

Memorable Quote:
"If Instagram can figure out that I want a lawnmower before I know I want a lawnmower... it can figure out how not to send content that promotes suicide to children." – Rick Smith [60:14]

5. Spotlight: The Dangers of Social Media Algorithms

[53:08 – 62:07]
Guests: Perry Peltz & Matt O’Neill, Directors/Producers, Can’t Look Away: The Case Against Social Media

Investigation Themes:

• Bloomberg Originals documentary exposes how social media algorithms drive engagement at the expense of youth mental health, fueling addiction, suicidal ideation, and dangerous behavior.
• Section 230 of the 1996 Communications Decency Act is central: it protects platforms from being held liable for user content, treating them as passive “bulletin boards.” But, say the filmmakers, algorithms are not neutral—they are “company-driven.”
• Legal innovation: Product liability law is being used to challenge platforms (rather than content liability), with early court progress allowing families' lawsuits to proceed against tech giants.
• International comparison: TikTok’s Chinese equivalent is much more restrictive, promoting educational content and enforcing usage shutoffs for kids, suggesting the U.S. could regulate differently if incentives changed.
• Urge to parents: Delay social media access until high school, keep communication open, and advocate for regulatory change.
• Peltz, drawing parallels with tobacco and opioid litigation, calls this crisis uniquely “cataclysmic”:

  "These companies are targeting our children, and that is different than what was happening in a lot of these other [crises]." – Perry Peltz [61:49]

6. Ultra-Processed Foods and America’s Diet Crisis

[65:39 – 75:34]
Guest: Dr. Julia Wolfson, Associate Professor, Johns Hopkins Bloomberg School of Public Health

Key Takeaways:

• Government study: Ultra-processed foods account for 62% of calories in children's diets and 53% in adults.
• Ultra-processed foods are industrial products with ingredients and processes (extrusion, additives, sweeteners, emulsifiers) not found in home kitchens.
• The rise is driven by the demands for affordability, shelf stability, convenience, and mass marketing.
• FDA policy tweaks (e.g., food labeling, school meal standards) could help, but Dr. Wolfson warns that eliminating food assistance programs (SNAP) is counterproductive.
• Not all processed foods are equally concerning, but most supermarket bread, mass-produced pizza, and snack foods fit the “ultra-processed” label.
• Strategies for families include providing easy, fresh options, but the system’s deep incentives and convenience make broad change hard.
• Overconsumption of protein is also a risk—Americans already consume ample protein.

Quote:
"We have really dominated our food supply [with ultra-processed foods] for decades now. So it will be really difficult to make that switch at a large scale, but it's worth considering how we can do it." – Dr. Julia Wolfson [74:47]

7. Living the Dream (Responsibly): Regenerative Wine in Provence

[82:48 – 94:54]
Guest: Stephen Cronk, Founder & CEO, Maison Mirabeau

Highlights:

• Cronk and his family left London sixteen years ago to found a Provence wine estate, now pioneering regenerative agriculture in French wine.
• The U.S. market, particularly California, is at the forefront of the regenerative wine movement; Mirabeau’s new One Day is the first regenerative certified French wine on U.S. shelves.
• Regenerative viticulture restores soil health, enhances biodiversity, and is being adopted at scale—growers are encouraged to convert one block to regenerative methods for one year.
• The cost is comparable or even favorable over time due to reduced need for external inputs; restored land rapidly yields more flavorful, nutritious crops.
• Cronk emphasizes that “basic” organic, especially monocultures, may still damage soil—regenerative organic is the gold standard, integrating crop diversity and natural processes.

Memorable Quote:
"Nature owes us no favors, but she'll come back if you create the right environment, wean yourself off synthetics, and get yourself back into [the] natural." – Stephen Cronk [89:39]

Notable Quotes With Timestamps

• Josh Green on Dems ending the shutdown:
  "There's another, kind of quieter realist wing of the party that looked in the mirror and said, look, there's really no clear winning exit strategy. We've got to pull the plug at some time." [04:14]

• Peter Atwater on inequality:
  "I would describe it, yeah, as a handful of folks who feel invulnerable in a mounting sea of despair." [13:30]
  "When it becomes widespread, those with nothing to lose will gladly go after those with everything to lose." [17:59]

• Rick Smith on social media targeting & AI:
  "If Instagram can figure out that I want a lawnmower before I know I want a lawnmower... it can figure out how not to send content that promotes suicide to children." [60:14]

• Perry Peltz on the public health crisis:
  "These companies are targeting our children, and that is different than what was happening in a lot of these other [crises]." [61:49]

• Dr. Julia Wolfson on processed food:
  "If you look at that ingredient list and you see even one, but certainly a bunch of ingredients where you think, I don't know what that is... that's a signal. That's an ultra-processed food." [68:40]

• Stephen Cronk on regenerative farming:
  "Nature owes us no favors, but she'll come back if you create the right environment, wean yourself off synthetics, and get yourself back into [the] natural." [89:39]

Timestamps for Major Segments

• [03:35] – Josh Green: The end of the government shutdown & political consequences
• [12:16] – Peter Atwater: The rise and consequences of the K-shaped economy
• [24:11] – Swami Kotagiri: The auto industry, tariffs, and technology transitions
• [36:48] – Rick Smith: Axon’s growth, products, and handling controversy
• [53:08] – Perry Peltz & Matt O’Neill: Social media's harms and legal responses
• [65:39] – Dr. Julia Wolfson: Ultra-processed food and American health
• [82:48] – Stephen Cronk: Regenerative wine and farming’s global future

Tone & Language

The exchange between Massar and Stenovec is conversational, curious, and often self-reflective, creating a relatable atmosphere even during policy-heavy topics. Guests are engaged directly and thoughtfully, with hosts sharing personal anecdotes or questions that ground complex issues in everyday experience.

Conclusion

This lively, information-packed episode spans the direct aftermath of a historic political impasse, sobering economic trends, evolving business resilience amid global trade shifts, the public health ramifications of diet and digital life, and ends on an uplifting note of sustainable entrepreneurship and environmental hope. Each segment is anchored in expert voices and practical detail, delivering nuanced context for listeners seeking to understand the people, policies, and trends shaping today’s economy and society.