Taiwan in Focus after Trump Meets with Xi; LIRR Strike

Summary

Bloomberg This Weekend – Episode Summary

Episode: “Taiwan in Focus after Trump Meets with Xi; LIRR Strike”
Date: May 16, 2026
Hosts: David Gura, Christina Raffini, Lisa Mateo
Notable Guests: Stephen Engle (Bloomberg), Courtney Subramanian (Bloomberg), Michelle Kaske (Bloomberg), Tessa Latifi (author)

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Overview

This episode centers on analysis of President Trump’s summit with Chinese President Xi Jinping, focusing heavily on the future of Taiwan, the dynamics of U.S.-China relations, ongoing tension in the Strait of Hormuz involving Iran, labor unrest in the Long Island Railroad (LIRR) system and its broader implications, and a deep dive into the world of child and family influencers. Lively exchanges and expert insights highlight the episode’s unique blend of politics, economic news, culture, and social issues.

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Key Discussion Points & Insights

1. U.S.-China Summit: The Future of Taiwan

a. President Trump’s Post-Summit Remarks

• Trump described Taiwan as “the most important issue” of the summit with Xi Jinping.

• Trump’s comments to Fox News signaled a neutral stance with a focus on preventing escalation, emphasizing he is not seeking Taiwan’s independence, nor “looking to have wars” (02:29–03:25).

  • [Quote, Trump, 02:29]
    “Should the people of Taiwan feel more or less secure after your meetings with President Xi? Neutral. Neutral. Has the policy changed at all? No. Nothing.”

• Trump remains non-committal on approving billions in weapons for Taiwan, framing it as a “chip to be leveraged”—potentially waiting for Xi’s visit to Washington in September.

b. Messaging, Leverage, and Outcomes

• Stephen Engle (Bloomberg, Beijing), contextualizes that China’s goals were centered on the “three T's: trade, tech, Taiwan,” with Taiwan being the most sensitive.

  • [Quote, Engle, 04:02]
    “Xi Jinping issuing his most blunt...warning, if you will, to a US President about Taiwan, that if it is not handled well, it could lead to a very dangerous situation.”

• Chinese state media publicized Xi’s Taiwan stance before the summit’s end, not allowing for a U.S. response and emphasizing control of the narrative.

• Courtney Subramanian notes that Trump is holding up arms as a bargaining chip—potentially delaying approval for leverage, buying more time for Beijing (06:41–07:13).

• No major tangible outcomes (deals or major diplomatic progress) were announced, although an invitation for Xi to visit Washington in September emerged.

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2. Economic & Tech Diplomacy: What Wasn’t Delivered

a. Trade and Technology

• Expectations of significant announcements on tariffs and tech deals, especially with a delegation including Jensen Huang (Nvidia), Elon Musk, and Tim Cook, were not met.
• AI infrastructure (e.g., Nvidia’s H200 chip) remains contentious. Though Nvidia’s watered-down accelerators are technically approved for sale in China, Beijing discourages their purchase, focusing on indigenous tech.
• Musk’s push for “full self-driving” Tesla tech in China still faces regulatory hurdles.
• Deliverables: Only some agricultural wins (soybean, beef, corn agreements) materialized, as brokered by Congressional lobbying groups. A Boeing order (about 200 planes versus an expected 500) underwhelmed the market (08:02–09:53).

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3. Iran, the Strait of Hormuz, and Foreign Policy

• China’s official statements post-summit favored non-interference, avoiding strong commitments on reopening the Strait of Hormuz, which has been impacted by regional tensions.

  • [Quote, President Trump, 10:26]
    “Every time they make a deal...the next day, it’s like, we didn’t have that conversation. There’s something wrong with them, actually. They’re crazy.”

• China rhetorically supports freedom of navigation but shies from tangible involvement; Trump claimed Xi wants the strait open and is willing to “help,” but little substance emerged (11:22–13:23).

• U.S. considered leveraging sanctions on Chinese buyers of Iranian oil as a possible tool, but no concrete progress or commitments ensued.

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4. LIRR Strike: Local Crisis, National Story

a. The Dispute

• Michelle Kaske provides on-the-ground detail about the strike: LIRR workers demand wage hikes near 5% (down from original demands), citing inflation and higher living costs (18:46).
  • MTA argues they cannot meet demands without drastic fare hikes, service cuts, or layoffs (19:18).

b. Stakes & Broader Impact

• Disrupted commutes for ~300,000 daily riders, with only shuttle buses arranged for essential connections (21:33–22:47).
• Economic impact: Estimated $61 million in lost revenue per day (21:08).
• The dispute mirrors challenges facing major U.S. transit systems: reliance on public funding, farebox revenue shortfall, and post-COVID ridership decline.
  • [Quote, Kaske, 25:09]
    “We are very much a car culture...Not in most Americans...common to get on a train or subway. It’s a different mindset.”

c. Federal Role?

• Past strikes (e.g., New Jersey) have lasted only a few days with little federal involvement; if prolonged, pressure may build for intervention (24:18).

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5. Influencer Kids: The Price of Digital Fame

a. Industry Landscape

• Interview with Tessa Latifi, author of “Like Follow Subscribe: Influencer Kids and the Cost of a Childhood Online” (28:44–34:58).
• The global influencer market is worth $32.5 billion, with family and child influencers making millions at the high end (29:33).
  • [Quote, Latifi, 29:33]
    “The top strata of mom influencers and family vloggers can make millions or multi millions a year.”

b. Rules, Risks, and Exploitation

• Legislation is limited—some states require earnings set aside for children, but privacy and content limits are nearly unregulated (30:22–30:45).

• Exploitation risk is real: The majority of kid influencer followers are adults (often adult men), heightening concerns about predation.

  • [Memorable Story, 33:08]
    Latifi recounts a mother knowingly sharing videos of her young daughter in revealing attire—despite clear predatory interest—because engagement was high:
    “Her videos got more saves and shares when her daughter was in these outfits...She said, ‘I only shared a few times a year now.’ That was difficult for me to understand as a parent.”

• Regulatory change is unlikely in the U.S. due to strong emphasis on parental rights:

  • [Quote, Latifi, 34:33]
    “In the United States, we so prize parental rights almost above anything else. And it’s really difficult to go into someone’s home and say, ‘This is not something you can do with your child.’”

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6. Weekend Quiz: Lighter Moments & News Recap

Bloomberg staffers participated in a playful, rapid-fire news quiz, touching on…

• Chicago Fire Stadium Renaming: McDonald's to sponsor (40:34)
• Media News: Byron Allen’s acquisition of a majority BuzzFeed stake (41:27)
  • “The comedian Byron Allen is paying $120 million for a 52% stake in which online media company?” – “BuzzFeed.” (41:07–41:37)
• Inflation Watch: Ground beef surpassing $7/lb. as cottage pie ingredient (42:26–43:00)

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Notable Quotes & Moments (with Timestamps)

• Trump on Taiwan policy:
  “Should the people of Taiwan feel more or less secure after your meetings with President Xi? Neutral. Neutral." (02:29)

• Stephen Engle on China’s approach:
  “Xi Jinping issuing his most blunt...warning, if you will, to a US President about Taiwan...” (04:02)

• Courtney Subramanian on weapon sales:
  “The President’s comments were...remarkable. He called it a...chip to be leveraged.” (06:41)

• Michelle Kaske on LIRR stakes:
  “This is shuttle buses. It looks pretty rough...Alternative service on Monday morning, yeah, Monday morning looks pretty rough…roads are going to be more crowded.” (21:33–22:47)

• Tessa Latifi on kids and influencers:
  “It’s really complicated to legislate this industry just because of the inherent nature of it. And it also happens within the home.” (31:00)

• On child exploitation risk (Latifi):
  “When I talk to parents, they not only acknowledge the risk, but they know it’s a reality because they’re getting messages…sometimes…letters in the mail about, you know, with this kind of predatory intent.” (33:08)

• Latifi on policy:
  “In the United States we so prize parental rights almost above anything else. And it’s really difficult to go into someone’s home and say, this is not something you can do with your child.” (34:33)

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Conclusion

This episode delivers a comprehensive, insightful look into the state of U.S.-China relations post-summit, underscored by the unresolved and sensitive status of Taiwan. Economic diplomacy, tech, and global security (with a focus on Iran) also get keen analysis. Domestically, the LIRR strike exposes transit funding woes reverberating nationwide. The exploration of “kidfluencer” culture supplies a sobering commentary on the digital exploitation of children for profit. Entertaining quiz banter closes the episode, striking a balance between heavy news and lighter fare.

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For more fresh takes on global affairs, economic shifts, and cultural transformations, catch Bloomberg This Weekend live every Saturday and Sunday at 7 a.m. ET.

Transcript

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[Christina Raffini]

President Trump, as we mentioned, is waking up in Washington this morning following that summit with Chinese leader Xi Jinping. He talked to Fox News about the trip, calling Taiwan, quote, the most important issue. But here's more of what he said.

[President Trump]

Should the people of Taiwan feel more or less secure after your meetings with President Xi? Neutral. Neutral. Has the policy changed at all? No. Nothing.

[David Gura]

U.S. policy.

[President Trump]

No, nothing's changed. I will say this. I'm not looking to have somebody go independent and you know, we're supposed to travel 9,500 miles to fight a war. I'm not looking for that. I want them to cool down. I want China to cool down. But you're waiting on approving billions of dollars of weapons for Taiwan. Is that moving forward? Well, I haven't approved it yet. We're going to see what happens. What do you look, I may do it, I may not do it.

[David Gura]

Yeah.

[President Trump]

What's your, your hinge? Well, I'm not going to say that, but I may do it, I may not do it. But we're not looking to have wars. And if you kept it the way it is, I think China is going to be okay with that. But we're not looking to have somebody say let's go independent because the United States is backing us.

[David Gura]

No substantive agreements from that summit have been announced yet. But President Trump did invite President Xi to Washington in September. Joining us now is Stephen Engle, Bloomberg's chief North Asia correspondent. He is in Beijing. And Bloomberg White House correspondent Courtney Subramanian is with us as well. Stephen, let me start with you and have you react to what we heard there from the president in that conversation with Bret Baier of Fox News. This was a signal moment from that summit, the remarks the President Xi made about Taiwan. Indeed, it resonated over the course of these two and a half days in Beijing. Talk about how both sides here are shaping that message as President Trump makes his way back to Washington and we begin to sort of process what indeed took place over the course of the summit.

[Stephen Engle]

Yeah, I think it's remarkable that the two presidents did talk at length, at least according to Donald Trump, they talked at length about Taiwan. And keep in mind, coming into this summit, as we did a lot of previews, we talked to a lot of people here in Beijing about what to do we think the Chinese side will really want, what's their deliverable. We debated ad nauseam about what potentially could be the US deliverables, especially with that huge 17 to 18 executive entourage that came with Donald Trump, including Jensen Huang and Elon Musk and Tim Cook and others. But on the geopolitical front, what did China want? And it was really boiled down to the three T's trade, including tariffs tech, including those accelerators from India and then Taiwan. Well, the US Courts kind of took care of a lot of the the hot button issues. On the tariff side tech, it wasn't really discussed. According to Jameson Greer, the US Trade representative, an exclusive interview we had in this room, in fact, just yesterday he said it wasn't even discussed during their two and a half hour talk in the Great hall of the People. So that really left Taiwan. And clearly Xi Jinping issuing his most blunt you know, warning, if you will, to a US President about Taiwan, that if it is not handled well, it's, it could lead to a very dangerous situation. And clearly that is something that the Chinese side wanted to get across from the get go. Because even before that two and a half hour bilateral first meeting between those two gentlemen in the Great hall of the People, the Chinese state media put out Xi Jinping's statements, not even giving the US Side the opportunity to do any kind of reaction to that. And also when Donald Trump was finally asked about it, he stayed very uncharacteristic, uncharacteristically quiet on the subject. So there was a lot discussed though,

[Christina Raffini]

Courtney, I thought that was so interesting that the Chinese put out that statement stating that they had issued their stance on Taiwan before that meeting had even responded, before the meeting had even ended. And to Steven's point, the US didn't really push back. We didn't see a competing statement come out right away from the White House. We also, in these interviews, President Trump seems to have received the Chinese message. Is it clear that China received something similar from the US and what was America's message on this issue? Because it seems to me the response to that normally would be to issue approval for that arms package. Taiwan has been waiting for the President's signature on that. Still hasn't happened. The President said in this interview that he's going to hold it as kind of a bargaining chip for all these other things he's trying to get out of China. Why not just sign that deal and keep the status quo if that's what the President says he wants to.

[Courtney Subramanian]

Yeah, it's a good point. I mean, the US has been insistent that, you know, the status quo remains in place. Nothing's changed in policy. But the President's comments were, you know, remarkable. Yesterday to Fox News. He, as you mentioned, called it a, you know, a chip to be leveraged. And I think, you know, that signaled he may hold off on approving that deal until Xi's visit in September, which in itself would just be a win for Beijing.

[Tessa Latifi]

Right.

[Courtney Subramanian]

This is something that allows them to buy more time and, you know, and keep the US at bay. And so again, I think that is, that is a win for China walking away from the summit.

[David Gura]

Stephen, I want to go back to sort of what we're waiting for here. Again, it's shaping the message, shaping the understanding of what unfolded at the summit, but also waiting for any indications of what deals might have come out of this. Just get us up to speed on what we might see what we're expecting. I think going into this summit, as you've pointed out, there were these expectations. There might be announcements on tariffs and trade. We saw the plane full of tech executives. Maybe that would lead to some big announcements on some tech deals. There has been whisperings of sort of how big this Boeing purchase plan is likely to be. What are you waiting for? What are the statements you're waiting to see land in your inbox here in the next 24 or 48 hours?

[Stephen Engle]

Well, the whole AI infrastructure and build out story is a global story. So when Jensen Huang goes up to Anchorage, Alaska and jumps on board Air Force One to come to Beijing at the last minute after essentially saying that he wasn't go on going on this trip. But that gave us a lot of indication that perhaps there was something Brewing on the H200 or the H20, even the watered down accelerator that has already been approved for sale to China. But it's China, especially on the H200 has come out and said we don't want our companies buying it. Right now. Of course China is really focusing on indigenous innovation, building out their own chips and also their own technologies for their large language models. But again, clearly the LLMs here in China would love to have the H200 or those types of chips from China from, from Nvidia. But again, nothing was announced. So maybe that's something that's going to come down the pike later on. We thought maybe because Elon Musk also made the trip. He's been pushing hard for FSD full self driving in China technology. It has not gotten over the regulatory hurdle there even though they've gotten signals that it's going to come eventually. He wants Robo taxis in China. Again, that is not something that came. So where we got some deliverables, if you will, were on the agricultural front probably as a result of, you know, Congressman Steve Daines, who really representing the beef and soybean lobbies. He's been here several times over the last year making that case. So you know, there's soybean commitments, there's beef that's going to be back on Chinese tables after about a 14 month pause because of that tariff barrage coming from Washington and maybe corn as well. So we're waiting for a few more things. That Boeing jet order, according to Boeing and Donald Trump was about 200 planes. The market was expecting 500. So it sort of fell short.

[Christina Raffini]

Yeah, we saw the market very unimpressed with that order yesterday. We're going to talk about that more a little Bit later. Courtney, I want to talk to you about Iran because our White House team has a story on the term this morning saying Chinese Foreign Minister Wang Yi came out with a statement that's a little bit stronger than we've seen from the Iranians so far, saying the straits should be open to shipping as soon as possible. Now, that's something I think a lot of the people in the world are comfortable saying. It's not really taking a stance. It's just saying it should be open. What did President Trump want from China in the way of Iran? We've got a bit of sound I'm going to play from you, and then I want you to talk about it.

[President Trump]

Every time they make a deal, they. The next day, it's like, we didn't have that conversation. And that's taken place about five times. There's something wrong with them, actually. They're crazy. And you know what? Because of that, they cannot have a nuclear weapon. Because the president of China agrees with you on that. He agrees with me on that. He agrees with me that he wants to see it end. He'd like to see it end. He would like to help. If he wants to help, that's great, but we don't need help. And, you know, the problem with help, when somebody helps you, they always want something on the other side.

[Christina Raffini]

So this is very interesting because the president has been really hard on European allies for not helping in the Strait. Now he's saying to China, well, we don't really need their help. Look, China probably doesn't want a nuclear Iran, I think that's safe to say. But they seem reticent to get involved. What did the White House want here? What can it get out of China? And why is China staying on the sidelines?

[Courtney Subramanian]

Yeah, I mean, the president, you know, first of all, he needs international support to help reopen the Strait. That's something that experts have been very clear about. He said that Xi agreed with him that the Strait should be reopened, but the two made very little progress on any actual plans to try and reopen that. He stopped short of leaning on Xi to actually ask Iran, but he seemed to think that, you know, she would follow through on trying to lean on Iran. He even went as far as to suggest that the US May lift sanctions against Chinese companies buying Iranian oil as a means to try and move the ball a little bit on this. But again, I mean, they walked away from this with, you know, little progress on any, you know, movement on moving this, you know, peace talks forward. And this Iran largely hung over the summit, he said they talked a lot about Iran. This was, of course, supposed to be a summit that dealt with easing, stabilizing economic relations and helping him ease some of those inflationary and affordability concerns at home. But it just went to show that Iran has largely remained a distraction both for the president in his relationship with China and on the world stage. And I think that he didn't really walk away with any commitments from Xi on Iran.

[David Gura]

Steven, let me have you pick up here. We're gonna have a conversation in a moment just about this nuclear issue and the Russia Iran relationship, the China Iran relationship. And as a prelude to this summit, we saw the foreign minister of China sitting down with Iran's foreign minister in Beijing. Help us understand what China's perspective is on this conflict. As Christina pointed out, they'd like it to end. But in real terms, what's the commitment they're prepared to make here to accelerate that or catalyze an end of the conflict?

[Stephen Engle]

Well, China, you know, has long espoused their policy of non interference in other people's affairs. And I clearly saw that they didn't want to have anything to do with this dialogue during this summit. This summit was about getting the relationship and the US China ties back on track after what has been a brutal year of tit for tat retaliation tariffs upwards of 145% against China. China retaliating the levers of of leverage, if you will, with the rare earths and export controls. There was lots of bad blood. So Xi Jinping did want to have areas where they could find common ground, but he kind of jumped the gun as far as getting the narrative out there. That's why I think them putting out those headlines while on Taiwan really crafted the narrative. And really it was very muted. In their readout anything about Iran, they basically mentioned the Middle East. And even here the front page of the China Daily here is is basically muted commentary, did not give any indication that China would help, even though Donald Trump says Xi Jinping indicated his willingness to help where they can because of their ear in Tehran.

[David Gura]

Stephen Engle, thank you very much. Our colleague Stephen Engle there in Beijing, Courtney Subramanian joining us from Washington. She's one of our White House correspondents. And I'll point out here, Christina, President Xi and President Trump scheduled to meet Washington in September. We've got APEC in November and then the G20 in the US on the heels of that. Stay with us for more on Bloomberg this weekend right after this.

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[Christina Raffini]

North America's largest commuter rail system is facing a major commuter disruption this weekend. Trains have come to a standstill as the MTA and unions representing the roughly 3,500 Long Island Railroad workers are trying to reach a deal. But in the meantime, nearly 300,000 daily writers waiting to see where things are going to fall and just how long it's going to take to resolve this.

[David Gura]

Right now we see workers picketing outside of Penn Station. Bloomberg News reporter Michelle Kaske joins us now. She's been following all of this. Let's just start with what these, what this disagreement principally is about. You have workers for the LI Double R who wanted higher wages. They say, what in keeping with inflation, essentially costs have gone up. Their salaries have not.

[Michelle Kaske]

That's right. I mean, they're experiencing the higher prices at the grocery store and at the gas station. And they're saying, look, to keep up with inflation, please give us, we, we really want, you know, close to 5% and that's down from their original ask. So they have gone a little bit below 5%. But the MTA is saying, look, we can't afford to give you that unless we do some drastic things on, on the Long Island Railroad and can't afford

[David Gura]

to give you that because were they to do it, they say prices would go up for commuters.

[Michelle Kaske]

Absolutely. The, the Metropolitan Transportation Authority, which oversees the Long Island Railroad, they're saying, look, we would need to raise fares a lot more to be able to cover the wage increases that you're asking for, or we would need to cut back on service or maybe reduce headcount, something like that.

[Christina Raffini]

So when we were talking about this earlier this week in our meetings, I said, you know, this is a New York story. We're a global broadcast. This is just because you all take this train that you want to do this story. But I got argued out, I think successfully, because why does this story matter across the country? To me, it's so indicative of this kind of dispute you're having in so many cities. They're trying to sustain beleaguered transit programs. I know there's a similar argument in D.C. with the Metro Philadelphia as well, with a BART. Why does this keep happening?

[Michelle Kaske]

It's a huge issue. I mean, these systems, these transit systems, they're very expensive to run, and they always rely on outside help from the state or the local government, whether it's sales tax revenue or something, to help augment the, the farebox revenue that comes in, because the farebox revenue alone won't cover everything. So, and that's part of MTAs and Long Island Railroad's argument here is, look, if the wages go up too much, what happens is then we have to not just go back to the riders, but go back to taxpayers and say, look, we need to raise your taxes to help pay for, for some of these wage increase increases. Now, on the other hand, you know, the, the unions, the workers, they haven't had a raise in almost four years because there has been these ongoing negotiations for several years now about, about changing the contract and amending the contract. So, you know, they're, they're feeling the higher prices as well.

[David Gura]

Let's talk about what the consequences of this are going to be. So I think Tom Dinabi, the comptroller, said we're looking at what, 60, $61 million in lost economic revenue each day that this drags on. Christina, laying out at the top the amount of people who rely on the LIR day in and day out. What's Monday morning going to look like? And what are the, what's the leadership of this transit agency saying about how they're going to try to compensate so much as they can for those who need to get to work or elsewhere?

[Michelle Kaske]

Definitely. I mean, you mentioned the 61 million. That's an estimate of per day. You know, there's a lot of small businesses that will be affected by this. We're just a week away from Memorial Day weekend. That is the start of the summer season out on Long Island. A lot of people in the city head out there for the beaches. They go to the Hamptons. They have a lot of fun. That is really, if this strike continues, that's going to affect, affect that summer tourism season that the island and the local economy there rely on so much. And again, you were talking about the, the alternative service on Monday morning. Yeah, Monday morning looks pretty rough. This is shuttle buses. It looks pretty rough. But for the MTA transit officials, they are encouraging people to work from home if they can, but we know there's also a lot of people that's not an option. You know, if you're working at a hospital, if you're, you know, providing an essential service, you, you've got to get to work and you have to be there in person. So the roads are. There's going to be more cars on the road, which is not good. Long island already has a lot of

[David Gura]

traffic, easy to get around.

[Michelle Kaske]

And then what is happening is starting Monday morning for the peak AM And PM Rush hours, MTA is providing shuttle services, shuttle buses at six different locations on Long island that'll take you to subway stops, subway stations in Queens.

[Christina Raffini]

As a longtime one metro rider in D.C. i am very familiar with the subway to bus to subway situation. It makes no one in a good mood. Are they any closer to reaching a deal? Just. Do you think this could be resolved by Monday?

[Michelle Kaske]

We're trying to find out if there's another meeting scheduled for today. It was pretty heated yesterday. It went all the way to midnight. Some words I'm sure were shared across the table, so they might need, you know, a little bit of a breather. But we're hoping that they get back together at the table again today and continue talking so this can get wrapped up as soon as possible.

[David Gura]

You quote in your piece Kevin Sexton, the National Vice President, the Brotherhood of Locomotive Engineers and Trainmen. We do not know the duration of the strike at this time, so. So a bit ominous. How illustrative is the strike that we saw last year? I guess it was in New Jersey. We saw the New Jersey strike there last, what, three days? Three days total. What can we learn from that? And there may be some curiosity among commuters. Could the federal government step in here? Could the federal government do anything to keep this from happening or keep this from happening? I gather on Monday they didn't.

[Michelle Kaske]

Congress and the federal government didn't step in with New Jersey transit. So. And so far we haven't seen that yet here. But again, if this strike is prolonged, I would imagine at the federal level, there is going to be a lot of incentive to help the mta, Long Island, Long Island Railroad and the unions really come together and really get to that point where they can reach agreement on a wage increase for this year.

[Christina Raffini]

Why does commuter rail and public transport struggle to gain traction and funding in this country in ways that it just doesn't other places. I mean, feel like we were sort of maybe doing a little bit better. And then I know Covid really took a. It took a real big hit during COVID both in ridership and confidence. People not wanting to just share that space, space with people. Has it gotten any better? Or why is it struggling so much in so many major US Cities that really could use the infrastructure and the

[Michelle Kaske]

help they definitely could. We are very much a car culture. And you know, I grew up in the Midwest and it's just, it's not in for most Americans. It just isn't common to get on a train, a commuter train or subway to go to work. And so it's a different mindset if you're used to driving, it's just what you do. It's different here in New York City. It's really part of our culture and the city depends so much not only on the subways and the buses, but the commuter rails as well.

[David Gura]

Michelle Caskey, thank you very much. I'll be tracking all of this here over the next 24 hours. We'll see what happens. Again, looking at a very busy commute on Monday morning.

[Christina Raffini]

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

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[Christina Raffini]

Piper's mother, Tiffany Smith is the momager.

[David Gura]

She took these kids to massive viral fame. It seemed so innocent, but it wasn't innocent at all. Some excerpts there from the show Bad Influence, the dark side of kidfluencing that gained millions of views last year on Netflix. A new book titled like Follow Subscribe Influencer Kids and the Cost of a Childhood Online looks at the life of kids online and the evolution of family influencing. The author of that book for Tessa Latifi joins us now. Great to have you with us. And let's start from an economic vantage if we can. I gather that the global influencer market is a $32.5 billion market. How much is this a focus on the lives of children? Yes, in America, but around the world a component of that. What kind of business is this?

[Tessa Latifi]

This is a massive business. Like you said, influencing is a multibillion dollar industry and the top strata of mom influencers and family vloggers can make millions or multi millions of dollars a year.

[Christina Raffini]

I mean, that's so crazy to me because there's so different sides of this approach. I have friends who literally won't put their baby's face on the Internet. They put the star over their infant's

[David Gura]

face and I mean message of the baby.

[Christina Raffini]

I love all your children, but I feel like at two weeks old they all kind of look the same. Okay, but you know, so you've got friends who won't at least is laughing from behind us. We've got friends who won't put any images of their children online. And then you've got other people who are putting every moment of their child online.

[David Gura]

It's a wild binding.

[Christina Raffini]

Like yeah, it seems like it's really, really extreme. Are there any rules or laws about how much you can put of your child online and how much money you make from their likeness?

[Tessa Latifi]

So there are a few states now that have laws related to child influencers, but the Laws are more related to the profits of the kids. So it's more like if you make this percentage of money off of the kids, then you have to save this percentage for a trust fund for them for when they turn 18. But there's nothing about what you can share and what you cannot share. So there aren't privacy protections per se.

[Christina Raffini]

The other part about even that is, how do you, how do you divvy that up? Because if you're a mom influencer or a family influencer, couldn't you make the argument, well, the post is really about me. My kid just happens to be in it, so I don't need to to save that money out for them.

[Tessa Latifi]

Totally. It's really complicated to legislate this industry just because of the inherent nature of it. And it also happens within the home. So it's like when you talk about kid actors, they're going to set so it's very clear the delineation between their work and their home. But for child influencers, a parent could say, is this really work for them? I'm just filming them as they go about their daily life. How does that count as work?

[David Gura]

As you talk to folks who do this, I'm curious sort of how they start out. You mentioned some of them can make millions or multimillions of dollars. How many of them are actually making that? So I guess there's probably a degree of aspiration here that you can make a ton of, a ton of money off of your kid. But how often does that come to pass? How do people get into doing this?

[Tessa Latifi]

Yeah, so honestly, it's kind of just how we are all playing the viral lottery every day. It feels like in America where you're putting up some content, if it hits, then you kind of chase that high and keep trying to, to accomplish that again. But it does. It is pretty rare to get up into that top strata. But I think it feels pretty democratic in a way where, let's say like in the past, if you wanted to do something like be a reality star, you had to get cast, right? You had to go through all these different things. Or if you had to be a child actor, you had to go audition first. But this is like if you have a phone, you have a shot.

[Christina Raffini]

I mean, that's gratifying and also terrifying, I think. But you know, we talk about kid fluencers and I think the assumption for a lot of us is that their followers, especially if it's a solo kid, dedicated account, less so the family ones, their followers are going to be other Kids. But that's largely, it seems, untrue, investigations by the New York Times and the Wall Street Journal into the followers of kidfluencers. They found that their followers are overwhelmingly adults and mostly adult men. The Wall Street Journal followed one young teenage girl who started out just posting kind of dance pictures and then to your point, went a little viral and became a de facto influencer. And her followers were 92% adult men. So what is the risk here for exploitations? Do these parents care and do they care enough, in your opinion, about the risks involved in doing this?

[Tessa Latifi]

There is a real risk and we know that because of such incredible reporting and harrowing reporting by the New York Times and the Wall Street Journal of predators watching this content. And when I talk to parents, they not only acknowledge the risk, but they know that it's a reality because they're getting messages, they're getting comments, they're getting emails. Sometimes they're getting letters in the mail about, you know, with this kind of pedophilic predatory intent. Yes, they're thinking about it. Do I think that it's changing their behavior in the way that it should know? So I will never forget this one conversation I had with a mom influencer who had a seven year old daughter who was in dance competitions. And she said that she realized that she got more of these messages and her videos, got more saves and more shares when her daughter was in these kind of revealing dance outfits. And so I asked her what she did with that knowledge and she said, oh, I only shared if I few times a year now. So that kind of was difficult for me to understand as a parent. If, you know, people are looking at your child with predatory intent, that your answer isn't, okay, I'm not going to share this anymore, but I'll just do it a few times a year.

[Christina Raffini]

I'll do it less protest.

[David Gura]

We have a minute left, but let me ask you, at the moment that we're in. So you talked about the difficulty of regulating this at a legislative level. We've seen these social media trials in California and elsewhere. Is that likely to change what parents are allowed to do? What's allowed to be posted on these apps?

[Tessa Latifi]

I don't think so. Because I think in the United States we so prize parental rights almost above anything else. And it's really difficult to go into someone's home and say, this is not something you can do with your child. And you know, parents consent to all kinds of things that children can't consent to. And this is kind of just an outline growth of that the inherent nature of the parent child relationship for Tessa.

[David Gura]

Thanks for the time on this Saturday. Appreciate that's for Tessa Latifi. She's the author of the book Like Follow Subscribe Influencer Kids and the Cost of a Childhood Online. Fascinating look at this industry, and I think we have to call it that given the size and the amount of money that's poured into it. But also as you pointed out, Christina, the kind of very startling and sobering aspects of what's happening absolutely in these corners.

[Dave Merritt]

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

[Public Advertiser]

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the pulse of every community. They bring people together, create opportunities and drive growth. With a widespread presence in communities across the country, Chase for Business supports small business owners at a local level that makes it possible for you to connect, learn from each other and grow together. There's a real commitment to seeing small businesses succeed. The Chase for Business team has knowledge and expertise that span a wide range of financial areas. They can help you make more informed decisions as you navigate the complexities of running your business. They'll help your business grow with individual guidance and convenient digital tools all in one place. With that guidance and your determination, you can take your business farther and help build a brighter future for your community. Learn [e-mail] business chase for business make more of what's Yours the Chase Mobile app is available for select mobile devices. Message and data rates may apply JPMorgan Chase Bank NA Member FDIC Copyright 2026 JPMorgan Chase Co.

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[David Gura]

Time for my regular weekly dose of embarrassment here. Weekend's pointed news quiz. Lisa Mateo prepared what? Three questions for us. Maybe a bonus as well.

[Christina Raffini]

Yes ones, Right.

[Dave Merritt]

And we have a special guest.

[David Gura]

We have a special guest at the table. 1. Dave Merritt, senior executive editor for Bloomberg News, wanted to stick around.

[Christina Raffini]

I heard you. You voluntarily subjected yourself to this.

[Dave Merritt]

I hear you're really good at this game, though.

[Stephen Engle]

Yeah.

[David Gura]

Oh, really?

[Christina Raffini]

The difference is, as we discuss every week, if you play it online, you can. You get multiple choice, not available here.

[Dave Merritt]

This makes it much harder multiple choice for you this time.

[Michelle Kaske]

All right?

[Christina Raffini]

We believe in you.

[Dave Merritt]

All right, so this is how we play it on BTW version. Okay? So you have the chips in front of you. You have 30 chips. We have three categories, okay? For each category, you figure out how confident you are. If you like the first category, you can keep your 10 chips. Or maybe you want to double up. It's up to you. But I'm going to give you the three categories and then the questions. Okay? The categories are number one, so sports. Number two, media.

[David Gura]

Sport for Dave.

[Christina Raffini]

Number three is inflation.

[Dave Merritt]

So based on that, how do you

[Tessa Latifi]

want to place your bet?

[Dave Merritt]

Inflation. Okay, Even across, I'm going to go

[David Gura]

no sports for you. All right? I'm going to go even. Nothing.

[Christina Raffini]

You're doing no sports.

[David Gura]

No sports. Okay. I'm doubling up on media.

[Christina Raffini]

All right?

[David Gura]

And if I get that,

[Dave Merritt]

here we go. Okay, so here is your sports question. Are you ready for it?

[Christina Raffini]

You're not at bet on sports, but I'm doing it.

[Dave Merritt]

You have this. You have this. Which restaurant will put its name on the Chicago Fire? Soccer team's stadium located in the company's hometown. What is the name of that restaurant again?

[David Gura]

I've been out of the country for several days. Think about it.

[Dave Merritt]

Their name will be all over the place. The Chicago Fire soccer team.

[David Gura]

In lights and on the jersey.

[Christina Raffini]

Oh, man. That's a food question, Lisa, not sports question.

[David Gura]

All right.

[Christina Raffini]

Okay, I got nothing. Let's flip it.

[David Gura]

McDonald's.

[Dave Merritt]

McDonald's.

[Stephen Engle]

What do you have?

[Dave Merritt]

McDonald's is right.

[David Gura]

It's McDonald's.

[Dave Merritt]

Okay. It is a $750 million field.

[Christina Raffini]

Yeah, I thought it was gonna be like a local. Local Chicago restaurant. Are you sorry? Did you witness this? David Gura gleefully took my chips.

[Dave Merritt]

But you didn't.

[David Gura]

You didn't bet.

[Dave Merritt]

You didn't bet on sports. See, that was a move on your David.

[David Gura]

Maybe I'm better at saying. All right, fill us in here, though.

[Christina Raffini]

Sorry, Lisa, what's our next choice?

[David Gura]

This is media, right?

[Dave Merritt]

Okay, media. Oh, so you doubled up on this. Oh, all right, here we go. The comedian Byron Allen is paying $120 million for a 52% stake in which online media company.

[David Gura]

Can we still call it that?

[Christina Raffini]

Ooh,

[Dave Merritt]

ooh, you wrote very fast.

[Christina Raffini]

I'm getting murdered today. I have absolutely no idea.

[David Gura]

I'm loving this. The Double Daves here. Yeah, maybe. Overconfident. Overconfident.

[Dave Merritt]

All right, let's see your answers. Flip it. Buzzfeed, buzzfeed, buzzfeed.

[Christina Raffini]

Hot ones. Buzzfeed is the one.

[Dave Merritt]

You are correct. So Byron, he's going to replace the CEO he found who was founded the company.

[David Gura]

So what do I do with these? Just keep.

[Dave Merritt]

Okay, so you get support them, and

[David Gura]

you and I are tied. Christina, sadly, is in a deep trough and unable to climb out.

[Christina Raffini]

So this is like your best day ever.

[David Gura]

It's a great day. Shining.

[Dave Merritt]

Smiley. All right, let's go to inflation. Okay. You ready for it?

[David Gura]

Just as a quick question, what's the worth of bus feed today? I mean, I don't mean to put you on the spot. You could argue it's not 120 million. Anyways, I know. We could do a listicle.

[Christina Raffini]

Yeah, that's why I didn't.

[David Gura]

I mean, I thought about that, but I didn't. And that's why it struck me, that story. I was like, wow, that's. Take a quiz.

[Dave Merritt]

Well, Alan wants to turn it into this free TV super app, so we'll see what happens.

[Stephen Engle]

See what happens.

[Christina Raffini]

All right.

[Dave Merritt]

Inflation.

[David Gura]

Inflation.

[Dave Merritt]

Okay, ready? Which cottage pie ingredient topped 6, $7 a pound for the first time?

[David Gura]

Cottage pie.

[Dave Merritt]

Cottage Pie is actually like a cottage ingredient. It is a traditional British and Irish casserole.

[Christina Raffini]

Boo.

[David Gura]

I mean, I know how to make one. How much? What did you say?

[Dave Merritt]

All right. $7 a pound at top. The ingredient inside of it.

[David Gura]

Top $7 inside of it.

[Dave Merritt]

Yes. What is that ingredient?

[David Gura]

Oh, okay.

[Christina Raffini]

No, I think I got it wrong.

[David Gura]

I wrote large.

[Christina Raffini]

I'm similar. I wrote butter.

[Dave Merritt]

Butter, ground beef. You are correct here. It wins about cpi. Right? Well, grocery prices, beef, a lot of things.

[David Gura]

Minced beef.

[Christina Raffini]

Lisa, that was the.

[David Gura]

I even got the American praiseworth.

[Dave Merritt]

Do you make it?

[David Gura]

I have made. I have. Do I make it? He gets it. He's not known for it. He's not one of my.

[Christina Raffini]

That was a clear suck up to the box. So we're going to talk about this later.

[Dave Merritt]

There is a bonus. This is a tough one. I don't know if anyone's going to use this. Here we go.

[Christina Raffini]

No, I think you've won.

[David Gura]

Unfortunately, it's for more bragging rights. Yeah. If this is another niche British cultural category.

[Dave Merritt]

Yeah, yeah. No, no, not even close. Okay. Because it is Trump G. That is a category.

[David Gura]

Okay.

[Christina Raffini]

Okay.

[David Gura]

The summit that was Xi Jinping said

[Dave Merritt]

the US And China could transcend the trap named for which you have to spell it right, but you have to spell it correctly.

[David Gura]

Oh no, the spanning. All right, well with.

[Dave Merritt]

I owe you guys.

[David Gura]

To the great. To the great Grand Mellas Thucydides

[President Trump]

favorite.

[David Gura]

What a wonderful moment. We should turning it around.

[Dave Merritt]

U C Y D I D E

[Christina Raffini]

S. Thank you very much.

[Dave Merritt]

Better you said it than I did.

[David Gura]

Thank you so much.

[Christina Raffini]

Random knowledge. No point.

[President Trump]

Dave.

[Dave Merritt]

Mar. So we've been.

[David Gura]

Yeah, I think Dave won. Congratulations, Dave.

[Christina Raffini]

Congratulations.

[David Gura]

All 30 seconds in a row. You can test your knowledge on all 10 questions. I should say take the pointed news [e-mail] pointed thanks.

[Christina Raffini]

Remember, it's multiple choice.

[David Gura]

It is multiple choice.

[Christina Raffini]

So it is slightly easier and less public and embarrassing.

[David Gura]

Yeah.

[Christina Raffini]

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.

[David Gura]

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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