India's Cockroach Protests; Netanyahu's Challenger

Summary

Bloomberg This Weekend – August 1, 2026

Episode Title: India's Cockroach Protests; Netanyahu's Challenger
Hosts: David Gura, Christina Ruffini, Tim Stanick (filling in for Lisa Mateo)
Special Guests: Dan Strump (Bloomberg News Senior Reporter), David Remnick (Editor, The New Yorker), Randall Williams (Senior Sports Reporter)

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Overview

This episode dives into three major global news stories: the explosive “Cockroach Protests” and youth unrest in India, the political pivot in Israel as Netanyahu faces a formidable challenger, and the collapse of a controversial FIFA investment plan. The show features in-depth interviews with frontline reporters and experts, offering insight, context, and memorable candid moments.

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India’s Cockroach Protests: Youth Unrest and Political Upheaval

(02:18 – 09:11)

Key Points

• Background:
  Rising youth unemployment and a scandal involving leaked exam papers for India’s competitive medical school test sparked mass protests, called the “Cockroach Movement.”

• Scandal Details:
  Leaked medical entrance exam papers led to invalidation, shaking trust in education as a path to upward mobility.

  • Dan Strump (02:52): “This affects hundreds of thousands of students… a way out of poverty… It really at the time shook the confidence in the nation’s education system.”

• Movement Origins:
  The movement is named the “CJP - Cockroach Janata Party”—a satirical jab at the ruling BJP.

  • Dan Strump (04:29): “It’s a play on the ruling party, the BJP… stemming from an offhand remark from the Chief Justice… dismissively referring to unemployed young people as cockroaches of society. They started joking on it online… and now wearing it proudly.”
  • Christina Raffini (06:09): “He has the Kafka’s Metamorphosis reference… you’re in the lead, Dan.”

• Protester Profile:
  Movement began with students but quickly drew broader public support, including family members.

  • Dan Strump (07:11): “Many of these students… were the first in their families to do this… Families see these exams as a way to break generations of poverty.”

• Government Response:
  Initial heavy-handed police crackdowns—batons, tear gas, pellet guns—widely circulated on social media, fueling sympathy and swelling protest numbers.

Notable Quotes & Memorable Moments

• Dan Strump (07:11): “The way the government initially responded… quite a tough crackdown… has helped to inflame the movement and actually spread a lot of sympathy.”

• Dan Strump (04:29): “This movement around this sense of aggrievement… the establishment isn’t listening… and worse, is mocking them and sort of dismissing them as cockroaches.”

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Netanyahu’s Challenger: Israel’s Political Crossroads

(11:25 – 22:47)

Key Points

• Netanyahu’s Vulnerability:
  Despite a solid rightward drift in Israeli politics, Netanyahu faces widespread public disillusionment due to corruption scandals and the fallout from the October 7th security lapse.

  • David Remnick (12:15): “He is vulnerable. But I would never count Bibi Netanyahu out… younger voters are even more conservative… this country has moved steadily to the right.”

• Public Sentiment:
  Over half of voters say they don’t want Netanyahu, but political dynamics and coalition realities muddy the forecast.

• Gadi Eisenkot – The Challenger:
  A former IDF chief with direct ties to Netanyahu, Eisenkot is framed as “the anti-Bibi”—honest, sincere, but also a military hardliner.

  • Christina Raffini (13:40): “He’s somebody who knows Netanyahu very well… you describe him as the anti-Bibi.”
  • David Remnick (13:56): “He’s seen as more honest, more sincere… they see something in him that they see in themselves, a certain brokenness… exemplified by Eisenkot losing his son and two nephews in the war.”

• Palestinian Issue:
  Palestinian rights and the two-state question are notably absent from the campaign discourse.

  • David Remnick (12:56): “The business of two states and Palestinian rights is not exactly in the center of the campaign.”

• Coalition Politics:
  Despite a significant Arab minority, no candidate (including Eisenkot) will campaign on coalition-building with Arab parties.

• Netanyahu-Trump Parallel:
  Bibi adopts “deep state” rhetoric, mirroring Trump, but the Trump-Bibi relationship is now strained over war with Iran.

  • David Remnick (15:30): “Netanyahu speaks the Trumpian language of the deep state, and he refers to us, meaning the press, as enemies of the people… a real interplay between Trump and Netanyahu, a real influence back and forth…”

• Military Doctrine:
  Eisenkot’s image as a “menshee guy” is tempered by his authorship of controversial military strategies like the “Dahiyya doctrine.”

Notable Quotes

• David Remnick (13:56): “He’s seen as more honest, more sincere… and a certain damage, exemplified by the fact that Eisenkot lost his own son and two nephews soon thereafter in the war.”

• David Remnick (18:37): “For Netanyahu, it’s in his greatest political interest for the war to keep going. For Trump, he can’t get out of this war soon enough…”

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Putin’s Position: Russia, Ukraine, and the Limits of Power

(19:50 – 22:47)

Key Points

• Uncertainty in Russian Politics:
  While Ukraine makes gains, the opacity of Kremlin politics makes forecasting Putin’s fate speculative.

  • David Remnick (20:21): “Let me say what most reporters are unwilling to say… I don’t know. The ability to report inside the Kremlin and understand what might happen… is relatively obscure.”

• Impact of War:
  Losses embarrass Russia, but as a dictator, Putin faces little political feedback.

• Endgame:
  Remnick suggests that only “mortality” might end the conflict for Putin.

  • David Remnick (22:20): “It would not surprise me that what might bring an end to it is mortality. Mortality.”

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FIFA’s Failed Commercial Play: Internal Turf Wars

(25:26 – 32:26)

Key Points

• Infantino’s Plan:
  FIFA President Gianni Infantino abandoned a proposal to invite outside investors into the World Cup’s commercial entity after UEFA and CONCACAF condemned “opaque schemes.”

• UEFA’s Backlash:
  UEFA’s public rebuke accused FIFA leadership of operating secretively, mismanaging vast reserves, and eroding trust.

  • David Gura (26:57): “We cannot keep going on like this. With secret schemes on fast track timescales… we must identify those responsible and hold them to account.”

• FIFA Politics:
  The incident raised doubts about Infantino’s future, as his leadership was framed as out-of-touch and politicized, especially in light of closer ties with President Trump.

  • Randall Williams (27:37): “He’s going to have to do some campaigning to keep his job come March.”

• Profit vs Non-Profit:
  Debate over FIFA’s nonprofit status in light of profit-seeking behavior, compared to the PGA Tour’s dual structure.

  • Randall Williams (28:41): “It has to be a nonprofit now that his deal failed.”

• Power Structures:
  The situation reveals significant clout held by regional federations, capable of quashing FIFA’s central plans in mere days.

Notable Quotes

• Randall Williams (27:37): “The shabby, backroom, opaque deal he hatched and tried to force through was anything but transparent. And with reserves standing at over $5 billion, he has failed to use association money for the benefit of the game.”

• Randall Williams (32:26): “We just saw UEFA and CONCACAF stomp on this and say we’re out. And next thing you know, within 48 hours or maybe 72 hours, this deal was dead.”

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Pointed News Quiz: Lighthearted News Recap

(35:16 – 41:36)

The episode wraps with the “Pointed News Quiz”—a rapid-fire trivia segment covering recent IPOs (Jersey Mike’s, featuring spokesman Danny DeVito [37:41]), the secondhand clothing marketplace Vinted [38:51], and developments in EV charging at Walmart [40:25]. Listeners are invited to play along at home.

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Timestamps for Key Segments

• Cockroach Protests in India: 02:18 – 09:11
• Netanyahu, Eisenkot, and Israeli Election: 11:25 – 22:47
• Putin, Russia/Ukraine Dynamics: 19:50 – 22:47
• FIFA Infantino Investment Scheme: 25:26 – 32:26
• Pointed News Quiz: 35:16 – 41:36

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Tone and Style

The hosts maintain a conversational, accessible tone, mixing hard news analysis with moments of humor and pop culture references (Kafka’s Metamorphosis, Danny DeVito’s ad). Emphasis is placed on the complexity and global interconnection of current events, with frequent acknowledgment of uncertainty in covering world leaders and evolving situations (“Let me say what most reporters are unwilling to say… I don’t know.” – David Remnick, 20:21).

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Takeaways

• India’s youth are mobilizing beyond satire, creating real political pressure and forcing rare government concessions.
• Israel’s rightward shift is challenged by personal loss and disillusionment; yet the “two-state” solution remains marginalized.
• FIFA’s leadership miscalculated the influence of regional federations, revealing both the limits of top-down power and the enduring opacity of international sporting bodies.
• Audiences are encouraged to stay curious, skeptical, and engaged—echoing the hosts’ own newsroom ethos.

Transcript

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Bloomberg Audio Studios Podcasts Radio News welcome

[David Gura]

to the Bloomberg this Weekend podcast with

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David Gura, Christina Raffini and Lisa Mateo.

[David Gura]

Thanks for joining us for today's selection of conversations from the show.

[Christina Raffini]

You can listen to our favorite discussions right here on the podcast, but also make sure to join us live every Saturday and Sunday morning starting at 7am Eastern.

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[Christina Raffini]

We get back to that Rising youth unemployment in India, which has sparked student led cockroach movement, has managed to oust a cabinet minister while presenting a growing challenge to Prime Minister Narendra Modi.

[David Gura]

The protests highlight the extent to which India's economic rise is failing to include young unemployed graduates, with many feeling their lives and futures are being ignored by the governing party. Joining us now is Bloomberg News Senior Reporter Dan Strump. Dan, the most interesting thing to me is the catalyst for all of this seems to have been a set of leaked Test answers. Can you please explain. Explain why that mattered and how that got us here?

[Dan Strump]

Sure, sure. Yeah, that's. That's absolutely right. So what was the catalyst in all of this was actually a series of leaked. What's. What's known in India as exam papers. Essentially it's the early leak of the actual test itself that was circulating among some students and essentially forced the government to invalidate a huge number of the. One of the most competitive tests in India, which is the test to get into medical school. Now, this affects hundreds of thousands of students, if not more. It's a highly sought after sort of pathway for high achievers in India, widely seen as kind of a way out of poverty. And it really at the time shook the confidence in the nation's education system, which for a long time has been having trouble really funneling its many young educated students into well paying jobs. So all of this has kind of culminated, come to a head in the last couple of months in the form of this movement that we have seen that has taken to the streets and as you said, has really shaken the politics of India and forced this rare retreat by the government in the form of the resignation of the Education minister and, you know, calls for this group to kind of carry on its mandate, to keep pushing and keep calling for reform.

[Christina Raffini]

We were chatting about the name of the group, and for us New Yorkers, cockroaches have one connotation. I gather there's a satirical connotation there in India. Explain that if you would. This is the CJP versus the bjp, which is the ruling party, which is helmed by Narendra Modi. Explain the joke, if you would, and maybe tell us just a bit about how cohesive this group of young people is.

[Dan Strump]

Yeah, so it is, it is a satirical movement. It started as a sort of a joke among, among some, some young people. You know, it's a play. It is a play on the ruling party, the bjp. What they're calling themselves is the cjp, the cockroach junk, the party. And it essentially stemmed from what was kind of an offhand remark some months back by the Chief justice of the Supreme Court of India, sort of dismissively referring to unemployed young people as kind of cockroaches of society with nothing better to do but sort of, you know, disrupt things and cause trouble. Now, this did not go well. This did not go down well among some young people. And they started sort of joking on it online on Twitter. A sort of rift began to circulate. And this, this joke essentially metamorphized into what became what they're calling themselves a political party. It's still not officially that it's a movement of sorts, but it's this movement around this sense of aggrievement, this sense of disenfranchisement among young people that the system is sort of not working for them, that the education system is not working for them, that the economy is not working for them, that they're not getting the jobs that they need and that the establishment, the political class in India isn't listening to them and worse, is mocking them and sort of dismissing them as cockroaches. So they sort of taken on this mantle and have kind of sort of wearing it proudly. And you really see, you know, in the form of some of those videos you just showed, some of those videos you just showed, you know, embracing this sort of cockroach mantle and taking it forward.

[Christina Raffini]

Just want to say, Christina, Dan wins the show thus far. We're talking about the cockroach movement. He has the Kafka s metamorphosis reference there to the way this group has developed. You're in the lead, Dan. You're on the leaderboard thus far.

[Dan Strump]

That was an entirely unintentional incidental. I'm sure it does sound great.

[David Gura]

Totally derailed my train of thought. But I did want to talk to you about who is going to these protests. I've been listening to some reports on them throughout the weeks and it seems like it's not just kids as there were some crackdowns on these protests. I heard of parents and aunties and uncles like showing up to try to show support because as you mentioned, these tests are really important, but they're kind of the whole family has stake in them, especially if you're from a not well off family. Those test results are seen as a way to break generations of a cycle of poverty and the amount of pressure that is put on these young people and then to then allow kind of this malfeasance or these leaked test results. People were just really, really upset about it. Who's going to these protests and do they? Are they specific about what they want?

[Dan Strump]

So it did start off as a sort of a very much a student led protest. The founder of the movement was a student actually studying in the US at the time of Indian descent, was studying at Boston University. He's since come back to help lead the movement here. But it was very much a sort of a movement that started at the grassroots level from students. It has since grown much more widely. I mean, you do See sort of just young people across society joining in the protests. And as you said, many of their family members have also been coming out, because you're absolutely right. For many families, you know, many of these students were taking the tests who are hoping to go on to these higher education programs that have come under threat. Were the first people in their families to do this. I mean, this is, you know, India remains, you know, a low income country that puts a lot of priority on education and on the opportunities that education can afford. You're seeing a lot of pathways close off. For many young Indians, for example, many who used to go to the US for education or for employment on H1B visas, that was a major pathway. For many Indians, now that's being closed off. So all of these things are kind of coming together and you do see many more people kind of joining the protests. One big tipping point I think has been what the way the government initially responded to these protests, which was actually quite a tough crackdown in the form of police coming out into the streets, using batons on some of the protesters, using tear gas, allegations of pellet guns as well being used. And a lot of these images and videos of this sort of, this response by the police have circulated widely on social media and really has helped to inflame the movement and actually spread a lot of sympathy, I think, for many of these protesters, which is around the time that you started to really see the movement take off. So it has seen quite a sort of a widespread sympathy and it's, and it's growing. It really, it does show no signs of slowing down.

[Christina Raffini]

Dan, great to speak with you. Thank you very much for the update. Dan Strump joining us from New Delhi here. Stay with us for more on Bloomberg this weekend, right after this.

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[Christina Raffini]

Israel's Prime Minister Benjamin Netanyahu is one of several world leaders who made the pilgrimage to Washington, D.C. this week to attend the memorial service for the late Senator Lindsey Graham. And while he was in D.C. netanyahu had a meeting with the President. It was productive according to the White House, and excellent according to the prime Minister.

[David Gura]

All right, that being said, Israel's elections are less than two months away and Netanyahu is facing a formidable challenger from his former military advisor, Gotti Eisenkot. We caught out with David Remnick, the editor of the New Yorker, who just published a new profile of Bibi's challenger.

[Christina Raffini]

David, thanks for being here. And I want to start with some recent polling here from Channel 12 in Israel. A question to voters was who's the best candidate for Israel's prime minister? 59% said not Netanyahu. And it makes me wonder, sort of how vulnerable is the prime minister right now as he looks forward to this election?

[David Remnick]

I want to mark it down right here. He is vulnerable. But I would never count Bibi Netanyahu out. You have to remember this country has moved steadily to the right in the last generation. Younger voters are even more conservative than their elders, and since October 7, the country has moved to the right. So even though there's a lot of anti Bibi sentiment for reasons we can discuss, and even though Gotti Eisenkot, the subject of the piece in the New Yorker, is now seemingly in the lead, this three months left in the race and a lot can happen.

[David Gura]

But can you explain how that doesn't translate to the polls? When people Go to vote.

[David Remnick]

Well, I don't know. It's like long marriages. I think the country has grown sick of reports of his corruption. There are a lot of people who blame him for the national security collapse on October 7th. There are a lot of people who are angry about the deals he cuts with the ultra orthodox so that they. They don't have to go to the army or not get arrested for dodging the draft. There's a multiplicity of reasons. You know, pick your poison. Most of the reasons are not the reasons that people here dislike him. I should add. And I should also say it's very important to note, I think, tragically, that the business of two states and Palestinian rights is not exactly in the center of the campaign.

[Christina Raffini]

Let's talk about Gadi Eisenkot, whom you profile in the piece. He's somebody who knows Netanyahu very well. He was in the IDF for four decades and the Knesset after that. You describe him as the anti Bibi. Tell us a bit about his platform and how it contrasts with what we see from the prime minister.

[David Remnick]

Again, I don't want to mistake Eisenhower for a man of the left. For example, this is somebody who was the chief of the general staff under Netanyahu. That's the top military position. It's like being the head of the Joint Chiefs. But I think that there's a very personal attachment to Eisenkot that Israelis no longer have. In the main with Netanyahu, he's seen as more honest, more sincere. And I think that they reflect they see something in him that they see in themselves a certain brokenness and a certain damage, exemplified by the fact that Eisenhower lost his own son son and two nephews soon thereafter in the war. So there's a certain kind of heart that he projects that Netanyahu certainly does not. A lot of Israelis really resented Netanyahu for his seeming indifference to the hostages and the hostage families during the war. And that caused a lot of anger. His antipathy. Not his antipathy, but his seeming indifference to them.

[David Gura]

It surprised me. I remember I was talking to a couple hostage families who were very conservative and very on the right side politically and were just absolutely furious at Netanyahu and saying this would be his downfall. But to your earlier point, so how. So far it hasn't been. Do you think Isaac got. Because he's not exactly dichotomous. Is he a good choice? Because he's not completely on the other side of things. But as you said, you would never count BBL completely.

[David Remnick]

Israel. Let me be clear about this. Israel is in no way going to elect someone from the left as we understand it here. Israel, much as you might want them to, is not going to elect someone in this election cycle or anytime soon who makes it a priority to talk about the rights of the Palestinians, the future of a country, potential Palestinian state, that is just not the agenda. Even Yair Golan, who's the head of the Democratic Party, when he talks about two states, he talks about it in the, you know, distant future, whatever that may be. Now, there are also, I should say, because it's rarely mentioned In Israel, a fifth of this country, 20% of the country, are Palestinian citizens of Israel, Arabs. They also get a vote. But in this coalition arrangement and the current political mood of Israel, it is an unsayable thing to say that you could. You'll make a coalition with those voters, which complicates matters even more. Netanyahu is going to and is already attacking Eisenhower for being too friendly to Arabs willing to make a government with the Arab parties. This campaign is going to get lower and lower and dirtier and dirtier. Netanyahu speaks the Trumpian language of the deep state, and he refers to us, meaning the press, as enemies of the people. There's a real interplay between Trump and Netanyahu, a real influence back and forth between the two of them, even though their relationship lately has suffered.

[Christina Raffini]

I want to talk about that in just a minute, but first I wonder if you could draw that contest. We talked about the kind of ideological or political contrast between these two so much as there is one. How about in terms of political polish? And you're kind of getting at that a moment ago. So when you were on the campaign trail with him, listening to him speak, how different does he present from a Benjamin Netanyahu?

[David Remnick]

It's night and day. Eisenkot is anything but a polished campaigner. He is not an exciting orator. He comes acrossand you'll forgive the Yiddishism as a kind of menshee guy, but this is also an army general and the author of the Dahiyya doctrine, which is a rather brutal military doctrine of destroying civilian infrastructure as a way to flush out terrorists who hide within it, whether it's in Lebanon or later in Gaza. But his personal bearing on the stump, his imagery in the Israeli imagination, is quite different than Netanyahu. You're absolutely right.

[David Gura]

When it comes to the Trump Bibi relationship that David was referencing, it's certainly gone through its ups and downs. But previously when campaigning, you know, there were posters of the two of them put up across Israel. And he was really leaning into this relationship. I'm wondering, coming off of Iran, if that's something he should be doing. Was Iran seen as a liability for Bibi strategically? And where does that leave this relationship going into the election?

[Dan Strump]

You make a crucial point.

[David Remnick]

A crucial point. And here's the. Here's the crux of the difference. It's not personality. The crux of the difference is that for Netanyahu, it's in his greatest political interest for the war to keep going. For Trump, he can't get out of this war soon enough, even though he seemingly does not know how to, because he's in up to his neck. Trump, politically, who's facing the midterms, is seeing gas prices soar. He's seeing two thirds of the American people, or 70% of the American people against this war, seeing it as a strategic disaster, and they don't know why the hell we're in it the first. First place. Whereas the Israelis have been sold a bill of goods. Believe it or not, since Netanyahu came on the political scene decades ago, Netanyahu has been trying to sell American presidents on going to war with Iran since the 90s and since George W. Bush, Obama, any number of presidents. And Trump was the first to say yes. But now Trump finds himself looking to get out as quickly as possible and deeply resentful of Netanyahu. He loved Netanyahu when he was a winner and not so much when things have gone south.

[Christina Raffini]

Dave, before you got this job, you were at the post, you covered Russia. And I think we want to spend a couple of minutes talking about that. I mean, there's been a lot of conversation among experts about the position that Vladimir Putin is in right now. And we see the gains that Ukraine has made here in recent months really pushing into Russian territory. And there's this sense that if Putin doesn't have his back to the wall, maybe it's getting closer to that. How do you think about his grip on power and the potential consequences of that? Him being forced in a position where there is more vulnerability than we've seen in the last couple of years?

[David Remnick]

Let me say what most reporters are unwilling to say when faced with a television camera. I don't know. In other words, there's. So, as opposed to the Israeli political culture and to some extent the American political culture, which is relatively, relatively transparent and reportable, the ability to report inside the Kremlin and understand what might happen tomorrow in terms of opposition and so on and so forth is relatively obscure. It's a Little bit like the old days of, you know, in communist times, pre Gorbachev. However, I will say that a combination of, of strategic foolishness, the change in military technology, and the sheer will of the Ukrainian people has seen, after all this time, you're absolutely right, a reversal of fortune. And it is deeply embarrassing to Vladimir Putin that the Ukrainians are able to send drones into Russian territory and take out things like, you know, manufacturing depots or energy supplies rights or what have you. This is deeply embarrassed. And this is, you know, the asymmetrical kind of war that we've been hearing all about. The losses on the Russian side are enormous, enormous. No American president would be able to withstand that politically. But because Putin is a dictator and there's no feedback loop politically, he remains in power. But if you're asking me, can he be overthrown tomorrow, the answer quite honestly, is I have no idea and neither do you. And if somebody is telling you different in the press because they have, you know, an inside source or something, they're guessing. They're guessing.

[David Gura]

Fair enough. But quickly, before I let you go, I mean, if this is not sustainable for him and he's left with two choices, that's capitulate, slash, negotiate, come to the table, figure something out, or with his back up against the wall, as David was saying, do something extreme. Which of those directions do you think he goes?

[David Remnick]

Well, I don't think he wants to be in this situation, but the humiliation of withdrawal to him would be extraordinary. He staked his entire political biography and being on this idiotic and brutal war, absolutely staked upon it. And it would not surprise me that what might bring an end to it is mortality. Mortality.

[David Gura]

Stay with us for more on Bloomberg this weekend, right after this.

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[David Gura]

FIFA President Johnny Infantino has abandoned a controversial plan to create a commercial entity that would have opened the door to outside investors for the World cup after facing intense opposition from key regional football bodies and top clubs.

[Christina Raffini]

In a statement posted by FIFA 2X, Infantino said, quote, having listened carefully to all the views, it's become clear that the project has created divisions of a nature that, regardless of the level of support, are no longer in the interest of the objectives set out in the first place. Joining us now is Bloomberg senior sports reporter Randall Williams. Randall, great to see you. And let me just start about start with kind of how far Johnny Infantino has fallen here. He was all over the country, all over the hemisphere during the World Cup.

[David Gura]

Can we just do a story on he had like more jet miles than

[Christina Raffini]

almost anybody else cruising around in that gulf stream, up for reelection in March, enjoying quite a bit of support. Let's just start with the genesis of this idea. Where did it come from? On the heels of a $15 billion World Cup. Why did he feel like this was, was the moment to kind of push forward this plan that's falling apart?

[Randall Williams]

Well, Bloomberg previously reported that this was in progress way before the World cup started. And so I imagine that Gianni and Fantino knew that this World cup was going to be the most successful yet, in large part because the us, Canada and Mexico have stadiums set up unlike any other country in the world. And so he's looking at it and saying, okay, we're going to make more money than we've ever made, but why don't we make even more money than that? I have this private deal set up. It's good for everybody. And then UEFA and CONCACAF sort of stomped on that and now he is in big trouble.

[David Gura]

Yeah. We have a statement this morning from UEFA. It says it welcomes FIFA's withdrawal of plans to sell stake in the World Cup. But it goes on and says, we cannot keep going on like this. With secret schemes on fast track timescales cooked up by faceless individuals and obvious benefit to the game. We must identify those responsible and hold them to account. The current FIFA leadership has not only lost UEFA's confidence, but also that of many other members of the football family. I mean, we were talking.

[Christina Raffini]

How do you really feel? UEFA? I feel.

[Randall Williams]

Right. I mean, that's not a lot of

[David Gura]

subtlety there, Randall, but is this real? I mean, he had kind of shored up his position so that he couldn't be kicked out, but it seems like that may be a reality.

[Randall Williams]

Yeah, it's a big question going forward. And you mentioned his reelection in March. I imagine that this puts a lot of question marks around it because they go on to say the shabby, backroom, opaque deal he hatched and tried to force through was anything but transparent. And with reserves standing at over $5 billion, he has failed to use associations money for the benefit of the game. And so they're basically saying, we don't trust you anymore. You have $5 billion in your bank account. Why do we need $20 billion more? And why did the world need this $4.2 billion deal with Joshua Kushner, Strive Capital? He is. I think he's going to have to do some campaigning to keep his job come March.

[Christina Raffini]

Last I checked, FIFA, a non profit entity. How should we think about this in the context of that? You mentioned Joshua Kushner, Thrive Capital, the fund that he was creating here, the work that he's done with past athletic teams. This is a departure from the way that FIFA has operated for a long Time, should we no longer regard it as a non profit entity? How did Johnny Infantino kind of make the case that what he's doing here wasn't jeopardizing that categorization?

[Randall Williams]

Well, it has to be a nonprofit now that his deal failed.

[Christina Raffini]

There you go.

[Randall Williams]

I think if you look at a comparison of this, people are talking about this in comparison to the PGA Tour versus the PGA Tour Enterprises, which is the tour's for profit arm. But that came about because Liv Golf was actively threatening the PGA Tour. There was a legitimate rivalry between those two organizations for a couple of years. And the PGA Tour Enterprises helped settle that. It helped right some wrongs and help steer golf in the right direction. And so that was the PGA Tour's version. And it's been welcomed by everybody involved in the golf world. This was not. This was as if the PGA Tour did it. And then the players said, no, this is not right. And so from FIFA's perspective, it's like, you can't have a for profit arm because France, England, Portugal, Germany and so many other superpower nations are saying, we don't trust your money and we don't trust your head figure.

[David Gura]

How did he get here? Is this a bit of a self own? Because you look at where he was in his position. And then there was the controversy with the red card, his closeness to President Trump, and it just seems like he thought he had political capital that he didn't really have, especially coming off of some of those other controversies.

[Randall Williams]

Well, it's really interesting, like President Trump said yesterday that Gianni Infantino and he did not discuss this deal. I wonder what would have happened if they did. But if you go back farther than, you know, the Flo Baligan controversy, Gianni Infantino, I would say, has been pandering to President Trump for over a year now. President Trump received a peace prize in December. I want to say less than 30 days later, maybe a little over 30 days later, we went and seized Venezuela's president. 60 days after that, we went to war in Iran. And so FIFA's pandering to President Trump has long made UEFA and other members of FIFA very, very uncomfortable. You think about outside of politics, we also had hydration breaks. Those things are not normal in soccer. UEFA was not a fan of that either. And ultimately those things were to maximize revenue. The claim was that it was going to be very, very hot during the summer, but really it wasn't. In different climates like Miami, of course, they might have needed them, but here in New York, it was not sweltering.

[Christina Raffini]

Needed those sprinklers on every, every quarter that happens. All right, let me ask you just sort of about where things go from here. And I think we've seen the pattern of these other groups, UEFA, the kind of the Asian federation. What does that tell you? Just about the power that FIFA holds generally? I think there are a lot of folks kind of coming to this story cold, unaware of the power that FIFA has had historically. But what does it tell us that these kind of regional federations have wielded and continue to wield a lot of power and influence here going forward?

[Randall Williams]

Well, FIFA's main event is the World Cup. They have been trying to build other events, both the men's and women's World cup. And they added the club World cup which sees, you know, clubs like Real Madrid and FC Barcelona as well as Inter Miami compete. But outside of that, that's what FIFA is known for. The UEFA is known for the Euroleague, excuse me, the Champions League, the Euro cup. And then you go all around the world in different federations, have different tournaments that players think of similarly to the World Cup. Now, of course, the World cup is the big prize that everybody wants to win, but if that's your only thing, then everybody is sort of looking at you and saying, why don't you just stick to the formula of what you had? The World cup has worked every four years for both men's and women's. It's more popular than it's ever been, it's made more money than it's ever been. So why does this $20 million deal need to happen? And I think that in terms of the power that these organizations have, we just saw witness, we saw UEFA and CONCACAF stomp on this and say we're out. And next thing you know, within 48 hours or maybe 72 hours, this deal was dead.

[David Gura]

All right, Randall Williams, thank you so much for joining us and breaking that down. You are of course our senior business of sports reporter and the host of Sports City and the co host of the Business of Sports podcast.

[HSBC Announcer]

Stay with us for more on Bloomberg this weekend, right after this.

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[Christina Raffini]

Well Here we are Bloomberg this weekend. Time for the pointed news quiz.

[David Gura]

I'm feeling very outnumbered and like collusion is about.

[Christina Raffini]

Well, there's no collusion. I just want to emphasize that this is a self regulated body. But there is no preemptive.

[David Gura]

Are we a nonprofit? Should we be a nonprofit like FIFA?

[Tim Stanick]

We're thinking about some investment on broad

[Christina Raffini]

definition of the terms. Tim Stanick filling in for Lisa Matteo today. Quite capably I must add.

[Tim Stanick]

Well, it is the moment. Thank you by the way.

[David Gura]

Let's see if he's capable Standby.

[Tim Stanick]

Truly the moment we've all been waiting for. I agree this is the pointed News quiz.

[Christina Raffini]

Yes.

[Tim Stanick]

You can play along at home. If you have never played just bloomberg.com/pointed, you can do it on your mobile device or on your computer. Pay attention, though, because here's the rules.

[Christina Raffini]

What are the rules?

[Tim Stanick]

All right. You guys each have 30 chips.

[4imprint Announcer]

Yes.

[Christina Raffini]

Yes. Thereabouts.

[Tim Stanick]

I feel like I got way.

[Christina Raffini]

But they look like they could be.

[Tim Stanick]

You're going to place your bets on each category, depending on how you really feel about these categories. Here, the category.

[Christina Raffini]

My level of confidence. Categories.

[Tim Stanick]

Here, the category.

[Christina Raffini]

I mean, he doesn't like my interruptions. Like you're derailing his.

[David Gura]

His mojo. Stop it, David.

[Tim Stanick]

I just want to make sure we have time to get through.

[Christina Raffini]

I'm sorry.

[IBM Announcer]

Okay.

[Christina Raffini]

All right, here are the categories.

[Tim Stanick]

There's. There not just categories, but a bonus question, too.

[Christina Raffini]

All right, don't tell us that category.

[Tim Stanick]

Online shopping.

[Christina Raffini]

Online shopping.

[Tim Stanick]

Sandwiches.

[Christina Raffini]

Yep.

[4imprint Announcer]

Car chargers.

[Christina Raffini]

Okay.

[Tim Stanick]

Okay.

[Christina Raffini]

Car chargers.

[David Gura]

Like EV chargers or like a charger for my phone in the car?

[Tim Stanick]

You'll find out.

[Christina Raffini]

Okay, Interesting.

[Tim Stanick]

We're actually going to go a little bit out of order. Okay.

[Christina Raffini]

We are?

[Tim Stanick]

Yeah.

[David Gura]

That's not how this looks.

[Tim Stanick]

No, we're not going to go out of order. I kind of want to change it up.

[Christina Raffini]

All right, I'm ready.

[David Gura]

All right. I'm doing the split across. Oh, you're really stacking it up.

[Christina Raffini]

I feel confident in my sandwich knowledge.

[4imprint Announcer]

Okay.

[David Gura]

Yeah, I feel confident in your sandwich and all this.

[Randall Williams]

I don't know.

[David Gura]

Okay, hit us.

[Tim Stanick]

Okay. Are you ready?

[Christina Raffini]

I'm ready.

[4imprint Announcer]

All right.

[David Gura]

How's it gonna be?

[Tim Stanick]

So first category, we're going with online shopping. Let's go with sandwiches, actually.

[Christina Raffini]

Oh, really?

[Tim Stanick]

Yeah.

[Christina Raffini]

Then I gotta move that over here.

[Tim Stanick]

Okay.

[HSBC Announcer]

All right.

[David Gura]

Sandwiches.

[Tim Stanick]

Excitement, impatience, baby. Like Wonder says, what spokesman in an ad for the recently IPO'd Jersey Mike's.

[Christina Raffini]

Say that one more time.

[David Gura]

Wait, what's the question?

[Tim Stanick]

Excitement, impatience, baby. Like Wonder says, what spokesman? An ad for the recently IPO'd Jersey Mike's.

[David Gura]

You're asking for his name?

[Tim Stanick]

Yeah.

[Christina Raffini]

You know, this was a major IPO this week as we saw this move into consumer IPOs.

[Tim Stanick]

And have you guys been to Jersey Mike's?

[Christina Raffini]

I used to go growing up. I haven't been in a long time. You order by number, you pick a sandwich.

[David Gura]

Oh, really?

[Christina Raffini]

Miracle menu.

[Tim Stanick]

Okay. What do you have, Christina?

[David Gura]

Jersey Mike. I don't know that.

[Christina Raffini]

Danny DeVito.

[Tim Stanick]

David's right. It's Danny DeVito. There he is. You can see him right there with

[Christina Raffini]

CEO and a Manning brother.

[David Gura]

Wait a minute. Interview on this. I read two articles. Danny DeVito was never mentioned.

[Christina Raffini]

Can I have 10 of your tokens to give to Tim?

[David Gura]

If you don't get them to.

[Christina Raffini]

You have to hand them over. There you go. All right. Well, okay.

[David Gura]

So I get to thank Lisa so much. Lisa, please.

[ChatGPT for Business Announcer]

All right.

[Tim Stanick]

Play along at home. Bloomberg.com.

[Christina Raffini]

all right, what's the next question? Online shopping.

[Tim Stanick]

Now we're there.

[David Gura]

If I don't win this one, I'm leaving. If I don't leave this one, I'm

[Tim Stanick]

leaving the online shopping marketplace. Vinted.

[David Gura]

Okay.

[Tim Stanick]

Vinted.

[Christina Raffini]

Can you spell that? Can you spell that for me?

[Tim Stanick]

Vinted. V, I, N, T, E, D. Okay. Vinted.

[Christina Raffini]

Like vented with an I.

[Tim Stanick]

Exactly.

[David Gura]

Like vintage.

[Tim Stanick]

It's expanding into the US and mulling an ipo. What type of product is sold? Oh, crazy.

[Christina Raffini]

Vinted.

[Tim Stanick]

Vinted.

[Christina Raffini]

Like Vin Diesel vin Vintage. All right, I think I'm gonna go with that over there. I love hearing the music.

[David Gura]

Christina says it's like used secondhand clothing.

[Tim Stanick]

Vintage clothing.

[Christina Raffini]

Vintage clothing.

[David Gura]

But it's not all vintage. It's like secondhand fashion stuff.

[Tim Stanick]

I'm going to accept that as a correct answer. Thank you, David. Vintage clothing.

[Christina Raffini]

Yes.

[Tim Stanick]

Secondhand clothing is all right.

[Christina Raffini]

Excellent.

[David Gura]

I gave you the.

[Tim Stanick]

This is great. I was going to say. Yeah.

[Christina Raffini]

Kind of spelled it out to the course of this. Vintage. Vintage. Tell me more about it. Popular.

[Tim Stanick]

Yeah. It's Europe's largest online clothing resale market. Do you know about this?

[David Gura]

Yeah. And they're really popular because they don't charge a fee to the seller. So you can sell your clothes and get more money for. For them. Because anybody who's tried to secondhand retail online, you get hardly anything for it. And you get more if you list on vintage.

[Christina Raffini]

Are you a Thrifter?

[Optum Healthcare Announcer]

You do?

[David Gura]

Yeah. I buy a lot of things.

[Christina Raffini]

Have you found one in the city yet that you enjoy? Okay, you don't have to reveal them on here.

[Tim Stanick]

This was founded in 2008 in Lithuania and it's processed $12.3 billion worth of secondhand clothing.

[Christina Raffini]

Wow.

[Tim Stanick]

Last year.

[David Gura]

It's a big deal.

[Christina Raffini]

Men's clothing and women's.

[David Gura]

I think so.

[Tim Stanick]

I don't know. Is it?

[IBM Announcer]

I think so.

[Christina Raffini]

Stay tuned. Next week.

[Dan Strump]

Usually.

[Christina Raffini]

I mean, back to them.

[Tim Stanick]

Yeah, usually it's easier to.

[David Gura]

I'll find you boys and blazers. Don't worry.

[Christina Raffini]

All right, third question.

[Tim Stanick]

All right.

[Christina Raffini]

I bet nothing on this. So I'm just enjoying my massive.

[Tim Stanick]

What are we doing?

[Christina Raffini]

You guys are car chargers.

[Tim Stanick]

You guys are tied one to one.

[Christina Raffini]

No way. I bet 20 on that first one.

[David Gura]

Like, I Get half a point for his. Because I gave him the answer.

[Tim Stanick]

All right, well, you're. You guys can keep track of the math.

[Christina Raffini]

Yeah.

[David Gura]

Car chargers.

[Tim Stanick]

What retailer was second only to Tesla in expanding its EV charging network in the second quarter? It's also the nation's largest grocer.

[David Gura]

Oh, I do know this one.

[Christina Raffini]

Nation's largest grocer.

[Tim Stanick]

Maybe I shouldn't have given that for a clue.

[David Gura]

It's okay. I had it on the.

[Christina Raffini]

I don't know about that. Good thing I didn't bet any chips on it. I wrote Kroger Walmart.

[4imprint Announcer]

Christina's right.

[Christina Raffini]

Oh, well.

[Tim Stanick]

Walmart betting its investment in EV ports. Kroger produce sales inside its stores since drivers need something to do while their cars are charging.

[Christina Raffini]

Yes.

[Tim Stanick]

Walmart is creating one of the country's largest EV charging networks. Nearly 350 stations spread among its 4,600 stores.

[David Gura]

I knew it was the largest gross.

[Christina Raffini]

I guess we have time for a bonus.

[Tim Stanick]

We have time.

[Christina Raffini]

I don't need it.

[Tim Stanick]

But we have time for a bonus.

[David Gura]

We're tied, you pretty pretentious maniac.

[Christina Raffini]

You have 20. I have 30.

[David Gura]

All right. All right. Okay.

[4imprint Announcer]

All right.

[Tim Stanick]

F1 radio listeners, the category. All right. Which country will host Formula One for the first time in nine years after agreeing to take on Bahrain's postponed Grand Prix? What's it going to be?

[Christina Raffini]

I don't know.

[Tim Stanick]

I really don't know. It's going to be called.

[Christina Raffini]

Oh, hint. You already have my hint. Okay. I wrote Saudi Arabia.

[4imprint Announcer]

Oh, okay.

[Tim Stanick]

Neither of you got it right.

[4imprint Announcer]

That's good.

[Tim Stanick]

It's Malaysia.

[Christina Raffini]

Malaysia.

[Tim Stanick]

Oh, we'll be hosting the event. It's going to be called Bahrain Grand Prix in Malaysia. It was postponed due to disruption caused by the war in the Middle East. Malaysia actually hosted F1 races for 19 seasons but grew tired of the expensive staging fees and falling tickets.

[Christina Raffini]

They are expensive.

[David Gura]

I remember there used to be a race in Malaysia. Yes, I watched the Netflix show back in the day.

[Christina Raffini]

Tim Stanley, thank you very much. Happy to win three weeks in a row. David Guru winning pointed with some Stanwick in the hot seat. You can test your knowledge on all

[David Gura]

10 questions for when my winning streak was going on.

[Christina Raffini]

Take the point of news quiz at bloomberg.com/pointed on the Bloomberg business app. It is available as well.

[David Gura]

Thank you for joining us.

[Christina Raffini]

Better luck next week.

[David Gura]

Thanks for joining us on today's Bloomberg this Weekend podcast. Don't forget to tune in live for the show every Saturday and Sunday morning starting at 7am Eastern.

[Christina Raffini]

We're on Bloomberg Television Radio and the Bloomberg Business app, bringing you unique takes and in depth interviews on news, politics, lifestyle and culture.

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