Bloomberg Businessweek Podcast Summary

Episode: Disney Says ‘Jimmy Kimmel Live!’ to Return After Backlash
Hosts: Carol Massar & Tim Stenovec
Date: September 22, 2025

Overview

This episode of Bloomberg Businessweek explores major topics shaping business, politics, and technology, with a focus on:

• Disney’s decision to bring "Jimmy Kimmel Live!" back on air after controversy and public backlash.
• The ongoing TikTok-US government negotiations over national security and data control.
• The impact of US industrial and AI advancements, with Siemens USA’s Barbara Humpton.
• A detailed look at current market trends, Fed rate cuts, and investor sentiment with Paisley Nardini of Simplify Asset Management.

The conversations blend corporate, regulatory, and political forces, offering listeners a panoramic view of recent events affecting the media, tech, and financial worlds.

Key Segment 1: Disney & Jimmy Kimmel – Navigating Backlash & Corporate Decision-Making

[02:00–09:06]

Main Discussion Points

• Background: "Jimmy Kimmel Live!" was briefly suspended after Kimmel made controversial remarks regarding the assassination of Republican activist Charlie Kirk. Outcry followed, including local market complaints and political pressure.
• Disney’s Decision: After “thoughtful conversation” between Kimmel, Disney CEO Bob Iger, and Dana Walden (head of the TV division), Disney decided to reinstate Kimmel.
  • Talks started Thursday, took a weekend break, and resumed Monday. [(Chris Palmeri, 02:34)]
• Pressure Points:
  • Locals called TV stations; FCC Chairman Brendan Carr also commented, leading to station group Sinclair demanding action.
  • Sinclair urged Kimmel to apologize and to donate money to the Kirk family; Kimmel reportedly wants to leave on his own terms.
  • Streaming-based cancel threats added pressure on Disney’s decision.
• Corporate & Political Dynamics:
  • Chris Palmeri: “Every indication he was not long in this job… he wants to leave on his own terms and not be forced out…” [(03:34)]
  • FCC Chair Carr could claim “victory” no matter the outcome. [(04:56)]
  • The climate is shaped by President Trump’s criticism of hostile media, including threats of license revocation, fueling concerns about press freedom.
  • Palmeri: “This is probably the height of what’s been a long running Trump war on the media… some people are saying we’re sort of in a danger of coming into a state-run media in this country.” [(05:47)]
• Hollywood Community Reaction:
  • Writers Guild, actors, and prominent producers protested, while even Republican Sen. Ted Cruz called recent developments excessive.
  • Palmeri: “We’ve also seen these companies capitulate time and time again, and those are the people that underwrite these projects.” [(07:20)]
• Future of Late Night TV:
  • Declining viewership, changing business model, and expensive production costs put late-night’s sustainability in question.
  • Chris Palmeri: “It remains to be seen whether all of these shows stick around… the local station owners would love to take this time back.” [(08:25)]
• Anticipation: Tomorrow’s Kimmel return expected to draw high viewership.

Notable Quotes

• Caroline Hyde: “Jimmy, we love you. Come back, Jimmy, not a problem. Say whatever you want or...Jimmy, we gotta think about what you’re saying.” [(02:55)]
• Chris Palmeri: “But nobody has made this kind of push to the extreme that Trump has—suing them, threatening to take away their licenses... some people are saying we’re sort of in a danger of coming into a state-run media...” [(05:47)]

Key Segment 2: TikTok Deal—Complexities, Security, & Market Ramifications

[11:15–20:10]

Main Discussion Points

• The TikTok Deal: President Trump announced an executive order to move TikTok’s US operations to a new, majority US-owned entity, with Oracle as tech partner. The US will not take an equity stake.
• Data Sovereignty and Algorithms:
  • Alexandra Levine explains the central challenge: ByteDance reluctant to fully give up algorithm control, as the “black box” is TikTok’s differentiator.
  • White House suggests US engineers will retrain a replicated algorithm, with Oracle overseeing US data storage and protection.
  • Skepticism remains over true algorithm independence—Project Texas (TikTok/Oracle security project) failed previously due to unverifiable claims about data and manipulation protection.
• AI “Secret Sauce”:
  • Levine: “The main national security concerns… are that ByteDance... could use the app to collect sensitive information about Americans [and] manipulate the algorithm to push certain divisive narratives...”
• Competitor Response: YouTube and Meta have copied TikTok’s format and benefited from TikTok’s operational uncertainty.
• Lingering Questions: Will the new arrangement actually address security concerns? There’s little confidence among analysts or policymakers.

Notable Quotes

• Alexandra Levine: “The whole sticking point that held up the deal was the algorithm. This is the secret sauce... ByteDance and China did not want to give up any kind of control.” [(13:26)]
• Caroline Hyde: “Isn’t it net-net, we’re either going to get an algorithm that isn’t so cool and not like the original, or we’re going to have Chinese engineers... so the concerns about a potential pass of American data... could still happen.” [(15:12)]
• Alexandra Levine: “Project Texas... was not good the first time because there was no way to verify if there was any manipulation going on or if there was any data.” [(16:05)]

Key Segment 3: Siemens USA—AI, Electrification, and Talent Policy

[20:44–28:49]

Main Discussion Points

• Industry Transformation:
  • Barbara Humpton (President & CEO, Siemens USA) discusses Siemens’s focus on using global megatrends—climate change, aging populations, urbanization—as the foundation for their technology strategies.
  • Siemens enables electrification and digitalization across industries, remaining neutral on power sources but emphasizing the need for more energy to fuel AI and data centers.
• Industrial AI in Practice:
  • Humpton details AI copilots in factories, democratizing industry jobs for those without traditional backgrounds: “Former pizza delivery guys, former chefs, former checkout clerks are rock stars in the manufacturing environment.” [(24:21)]
• Internal AI Adoption:
  • Siemens employees across departments are encouraged to learn and experiment with AI. “My favorite thing...I turn to the team and say, what are you doing with AI?” [(25:51)]
• AI and Workforce Skills:
  • Discusses concerns about overreliance on AI and the evolving need for advanced skillsets. “Think about AI as that super tool... it will take the least among us... and give us the power to perform at a higher level.” [(26:47)]
• H1B Visas & Global Talent:
  • Siemens employs less than 5% on H1B visas. A proposed $100,000 H1B visa fee could impact cost structure and workforce planning.
  • Humpton: “We’ll have to see... we are working to make sure first of all that our employees are in good shape, that they're able to travel and really accomplish the mission.” [(28:02)]

Notable Quotes

• Barbara Humpton: “Instead of having to know the programming languages, we can speak in natural language and have the AI translate into the programming language of the manufacturing equipment.” [(24:21)]
• Barbara Humpton: “We bring people from all over the world who have special knowledge and things that were, you know, today I would say less than 5% of our population in Siemens USA is folks on H1B visas.” [(27:27)]

Key Segment 4: Market Outlook—Investor Strategies Amid Volatility

[31:09–38:26]

Main Discussion Points

• Market Heat & Fed Rate Cuts:
  • Paisley Nardini (Simplify Asset Management) warns markets may be “overheated” and expects possible turbulence, particularly due to the aggressive number of Fed rate cuts currently priced in.
  • Nardini: “If we actually get all of these expected cuts...that would lead me to believe that we’re headed for a recession.” [(33:10)]
• Volatility vs. Recession:
  • Previous experiences suggest markets crave rate cut news but a deluge of cuts often means a darker economic forecast. A sell-off of 10-15% wouldn’t be surprising, but also wouldn’t derail long-term market fundamentals.
• Investor Strategies:
  • Nardini advocates for “stocks for the long run” and using downturns as buying opportunities.
  • She notes a trend toward alternative sources of income and defined outcome strategies, with investors seeking protection and certainty (e.g., buffered ETFs, derivatives).
• Tariffs and Inflation:
  • To date, markets have shrugged off tariffs as noise; little current evidence of inflationary spillover from tariffs.

Notable Quotes

• Paisley Nardini: “Markets have taken these rate cuts and have said this is great... but if we actually get all of these expected cuts... that would lead me to believe that we’re headed for a recession.” [(33:10)]
• Paisley Nardini: “A healthy sell off at this point… whether it’s a 10%, 15% drawdown, markets can shrug that off in a couple of days...” [(35:07)]
• Paisley Nardini: "We've continued to see this trend for higher needs for income and distribution yield... moving beyond the traditional sources... into more innovative alternative sources of income for portfolios." [(36:05)]

Memorable Moments

• Caroline Hyde’s light-hearted worry: “Do you think AI is going to make us all idiots?” [(26:20)]
• AI democratizing work: Barbara Humpton describes hiring and upskilling nontraditional workers to staff Siemens’s advanced manufacturing lines. [(24:21)]
• Late-night TV at a crossroads: Palmeri outlines how both public pressure and market economics may fundamentally change American late-night. [(08:25)]
• Market Risks & Opportunities: Nardini’s clear advice to look for opportunities amid “healthy” pullbacks and volatility. [(35:07)]

Summary Table of Timestamps

| Segment | Timestamp | Key Participants | |----------------------------------|---------------|------------------------------------| | Disney/Kimmel Controversy | 02:00–09:06 | Caroline Hyde, Chris Palmeri | | TikTok Deal & Security | 11:15–20:10 | Alexandra Levine, Caroline Hyde | | Siemens: AI & Workforce | 20:44–28:49 | Barbara Humpton, Caroline Hyde | | Market Outlook & Strategies | 31:09–38:26 | Paisley Nardini, Caroline Hyde |

Final Takeaways

This episode paints a vivid picture of the current crossroads between business, technology, and policy:

• Media and free speech are under new scrutiny, raising questions about corporate behavior under political pressure.
• US-China tech negotiations remain mired in complexity, especially over algorithms and data sovereignty.
• Industrial technology is democratizing, but workforce policy like H1B visa changes may impact competitiveness.
• Equity markets are bullish but fragile; seasoned managers are bracing for volatility but see long-term value opportunities ahead.

Listeners come away with key context and strategic insights for navigating today’s fast-moving business and economic landscape.