Bloomberg Businessweek Weekend – October 24, 2025

Overview

This episode of Bloomberg Businessweek Weekend explores pivotal events shaping the global economy, business, and technology landscape over the past week. Hosted by Carol Massar and Tim Stenovec, the show delivers in-depth reporting and analysis on:

• The U.S.-Argentina $20 billion currency swap
• The U.S.-Australia rare earths pact to counter China
• A profile of California Governor Gavin Newsom and Democratic strategy
• Emerging trends in robotics with Amazon Robotics’ chief technologist
• The practical impact of quantum computing in Chattanooga, Tennessee
• Cheat codes and industry shifts in wellness and sustainability

Key Discussion Points & Insights

1. The U.S.-Argentina $20 Billion Currency Swap

Guest: Eric Schatzker, Bloomberg New Economy Editorial Director
Segment: [03:37–13:59]

• What’s Happened:

  • The U.S. Treasury and Argentina’s Central Bank signed a $20B swap line, called by Treasury Secretary Scott Besant “an economic stabilization deal, a bridge to a better economic future for Argentina, not a bailout.”

• Key Discussion Areas:

  • Why Now & U.S. Strategy:
    • U.S. intent to “lock in dollar supremacy” not just through the Fed but via the Treasury by strategically using swap lines for geopolitical influence.
    • The deal is unusual given minimal direct trade with Argentina, hinting at broader global strategy.
    • “It's using the dollar as an economic tool and a tool of geo-strategy, if you will.” – Eric Schatzker [05:23]
  • Deal Mechanics & Unknowns:
    • Lack of transparency: Neither the public nor intermediating banks know what, if any, collateral Argentina has pledged.
    • “Nobody knows what Argentina is pledging as collateral. In fact, nobody has seen the agreement to our knowledge.” – Eric Schatzker [08:15]
    • Comparison to historic swaps, including the Mexico peso crisis and the Bank of England trade.
  • Risks & Endgame:
    • Is this a bailout? “A bailout is in the eye of the beholder… It’s unquestionably a gift to President Milei ahead of these midterm elections.” – Eric Schatzker [10:04]
    • Impact questionable: Peso continues to weaken; bonds losing gains since the deal.
    • Potential U.S. exposure if Argentina fails to reform, and the possibility that $20B “may not end up being enough.”

• Geopolitical Context:

  • Argentina’s swap with China ($18B) could be wound down as a condition of this deal.
  • IMF sidelined due to inability to act quickly before Argentina’s pivotal midterm elections.

2. U.S.-Australia Rare Earths Deal to Counter China

Guest: Dr. Gracelyn Baskin, Critical Minerals Security Program Director (CSIS)
Segment: [17:09–27:49]

• What’s Happened:

  • U.S. and Australia signed a landmark pact worth $1B each, to rapidly invest in rare earths and critical mineral supply chains, jointly blocking Chinese acquisition and fostering strategic projects, including Alcoa’s gallium refinery.

• Key Discussion Areas:

  • Motivation & Timing:
    • “This is minerals cooperation that's going not just from conversation... to actually putting the resources in to develop really strategic projects.” – Dr. Gracelyn Baskin [17:45]
    • Urgency triggered by China’s export restrictions and global vulnerability to Chinese supply.
    • “If we work together we can actually start to counter China in a meaningful way.” – Dr. Baskin [19:09]
  • Market Shifts & Industry Winners:
    • U.S. and Australia will identify joint projects; Alcoa and Lynas highlighted.
    • “Rare earths, obviously... but broadly speaking for some of these minor metals, which antimony is one of them, we've seen tungsten emerge... these minor metals are going to be the ones where we're highly vulnerable.” – Dr. Baskin [21:14]
  • Supply Chain Re-architecture:
    • Australia breaking historic ties with China, shifting minerals supply towards U.S. and allies.
    • U.S.-Australia model may expand to include Japan, South Korea, UK, EU, Brazil, and others.
    • “We're really seeing rubber hit the road with a country that has enormous geological potential.” – Dr. Baskin [18:47]
  • Investment Fad vs. Durable Shift:
    • Not all individual mineral deals will succeed, but the macro trend toward supply chain diversification is robust.

3. Profile: California Governor Gavin Newsom & Democratic Strategy

Guest: Josh Green, Bloomberg National Correspondent
Segment: [28:44–39:38]

• Backdrop:

  • Democrats face declining morale and search for leadership in the Trump era.
  • Newsom, rebounding from a politically difficult year, is pushing a ballot initiative that could create up to five new Democratic House districts.

• Key Insights:

  • Strategic Importance:
    • “Newsom... has suddenly become important, important in preserving Democrats’ chance to win back some shred of power...” – Josh Green [29:24]
    • The ballot measure’s success could make Newsom a leading contender for 2028.
  • Public & Party Reception:
    • The initiative has ~50% support; prominent Republicans (e.g., Schwarzenegger) are opposed but experts expect it to pass.
  • Newsom’s National Ambitions and Persona:
    • Blends political fixer lineage and relatability: “He's always been drawn to the camera as a politician.”
    • Acknowledges mistakes (“his most boneheaded move” – French Laundry incident [34:02]) but leverages media skills, including social platforms and AI-generated mockery of Trump.
  • Demographic and Political Context:
    • “California is this engine of dynamism... the polar opposite of the way Donald Trump runs the US economy with a focus on industrial nostalgia.” – Josh Green [34:50]
  • Social Media Strategy:
    • Newsom uses attention tactics to energize the base: “...race for eyeballs and attention. And there’s no question that Newsom is doing that more aggressively than any other Democrat.” – Josh Green [37:03]
  • Risks:
    • Mocking Trump online may pose risks if future disaster aid from the White House is needed.

4. Amazon Robotics: Automation & The Future of Work

Guest: Ty Brady, Chief Technologist, Amazon Robotics
Segment: [43:35–52:54]

• Current Innovations:

  • Introduction of Blue Jay, a new AI-powered manipulation robot, able to handle over 70% of inventory types (productized much faster than predecessors thanks to AI).
  • Growth beyond Kiva robots to manipulation, mobility, perception, and packing systems—enabling “people and machines working together.”

• Key Quotes & Insights:

  • “When you do collaborative robotics... it allows you to be more productive. And when you're more productive, that allows you to invest more in people... we've upskilled more than 700,000 of our employees.” – Ty Brady [46:45]
  • NYT report: Amazon may replace up to 500,000 human jobs with robots within a decade. Brady pushes back, emphasizing new jobs created and shifting the nature of tasks rather than simple elimination.
    • “Very bullish on eliminating every menial, mundane, and repetitive job out there. Nobody wants to do that. So we are going to change those tasks 100%.” – Ty Brady [49:52]
  • Seasonal Labor:
    • Despite automation, Amazon expects to hire 250,000 seasonal workers this holiday.
  • Global Perspective:
    • Observes advances in robotics in Japan and China, but maintains a focus on practical application over spectacle.

5. Quantum Computing in Practice: Chattanooga, Tennessee

Guests: Tim Kelly (Mayor), Janet Reberg (EPB President/CEO Elect)
Segment: [53:34–64:29]

• Chattanooga’s Quantum Leap:

  • First city in the U.S. with a commercially available quantum network (since 2022), built atop its municipal fiber optic network.
  • Collaboration with IonQ, Nvidia, Oak Ridge National Laboratory for grid optimization.

• Practical Applications & Forward Look:

  • Energy grid optimization as initial use case—using quantum’s potential to solve complex power distribution challenges more efficiently than classical computing, reducing energy use as AI demand rises.
    • “A quantum computer... can solve things at a much faster rate, which uses less energy than a classical computer because it can do things in parallel...” – Janet Reberg [58:15]
  • Power Mix and Sustainability:
    • Chattanooga’s electricity comes from Tennessee Valley Authority (TVA)—nuclear, hydro, renewables, gas. Anticipate more nuclear and biogas due to rising demand.
    • Mayor Kelly: “Regardless of your political affiliation... there's no way around nuclear.” [59:28]
  • Attracting Talent:
    • Influx of remote workers during COVID. Efforts to build sustainable tech jobs and prevent a K-shaped economic divide.
  • AI vs. Quantum in the Tech Dialogue:
    • Emphasize future synergy of quantum and AI for blazingly efficient algorithms.

6. Wellness & Lifestyle “Cheat Codes”

Guest: Chris Rouser, Bloomberg Pursuits Editor at Large
Segment: [67:26–78:57]

• Main Feature:

  • A lighthearted yet informative look at “wellness hacks” or “cheat codes” gaining popularity—from tech-driven fitness to old-school lifestyle hacks.

• Cheat Highlights:

  • Catalyst Stim Suit: Full-body muscle-stimulating suit (with an “intense buzz”) to accelerate strength gains; “I know it works.” – Gracelyn Baskin [69:51]
  • Walking Uphill: “Celebrity trainers tell people to do [this] because it burns calories… but also doesn’t wear you out.” – Gracelyn Baskin [70:18]
  • Rolling Your Foot on a Ball: Simple de-stressing trick to calm body and mind.
  • Peptides and Biotech: Growing use for performance and anti-aging (e.g., SARMs, NAD+, Wegovy/Ozempic as peptides)—emphasis on consulting real doctors due to regulatory gray zones.
  • Facial Sculpting: “Fascia facials” and in-mouth massage techniques for short-term face ‘tightening’.
  • Sustainability and Style:
    • Barbour’s rewax & “re-loved” jacket programs: Upcycling as a fashion and environmental trend embraced by Gen Z (“What’s better than a beat up pair of Levi’s?” – Gracelyn Baskin [77:23]).
    • “People want it… not polished… want it exactly as it was.” (on vintage watches) – Gracelyn Baskin [78:09]

Notable Quotes & Memorable Moments

• “It's using the dollar as an economic tool and a tool of geo-strategy, if you will.”
  — Eric Schatzker on the U.S.-Argentina swap [05:23]

• “Nobody knows what Argentina is pledging as collateral. In fact, nobody has seen the agreement to our knowledge.”
  — Eric Schatzker [08:15]

• “This is minerals cooperation that's going not just from conversation... to actually putting the resources in to develop really strategic projects.”
  — Dr. Gracelyn Baskin [17:45]

• “California is this engine of dynamism... the polar opposite of the way Donald Trump runs the US economy with a focus on industrial nostalgia.”
  — Josh Green [34:50]

• “When you do collaborative robotics... it allows you to be more productive. And when you're more productive, that allows you to invest more in people...”
  — Ty Brady, Amazon Robotics [46:45]

• “A quantum computer... can solve things at a much faster rate, which uses less energy than a classical computer because it can do things in parallel...”
  — Janet Reberg, EPB [58:15]

• “Celebrity trainers tell people to [walk uphill] because it burns calories… but also doesn’t wear you out.”
  — Gracelyn Baskin [70:18]

Timestamps for Important Segments

• U.S.-Argentina Currency Swap Analysis: 03:37–13:59
• U.S.-Australia Rare Earths Pact & Critical Minerals: 17:09–27:49
• Gavin Newsom, Democratic Strategy & National Profile: 28:44–39:38
• Amazon Robotics & Automation Trends: 43:35–52:54
• Quantum Computing in Chattanooga: 53:34–64:29
• Wellness “Cheat Codes” Feature: 67:26–78:57

Conclusion

This week’s Bloomberg Businessweek Weekend delivers an engaging, in-depth snapshot of economic diplomacy, industrial realignments, political strategy, technological innovation, and lifestyle trends—armed with expert voices, insightful reporting, and actionable context for business leaders and the informed public.