Are companies oversharing?

Summary

Marketplace Morning Report – “Are companies oversharing?”

Date: September 16, 2025
Host: Sabri Ben-Ashour (in for David Brancaccio)

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Episode Overview

This episode covers three main topics in a concise, sub-10-minute format:

1. The debate over how often companies should share earnings reports, with expert insight on possible impacts of moving from quarterly to semi-annual reporting.
2. The latest news on the Federal Reserve’s meeting, with a focus on recent political drama and expectations for interest rate changes.
3. An exploration of the push for more inclusive, Africa-relevant artificial intelligence, including on-the-ground voices and new initiatives.

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1. Are Companies Oversharing? The Quarterly Reporting Debate

[01:30 – 03:47]

Key Discussion Points

• President Trump’s Proposal: Trump, via Truth Social, claims companies should report earnings just twice a year, not quarterly, suggesting this would save time and money.

• Expert Interview: Susan Schmidt, Portfolio Manager at Exchange Capital Resources, shares her perspective:

  • Investors rely on quarterly reports for crucial performance updates and guidance for the near-term outlook.
  • Fewer updates would save time but require investors to “take bigger guesses” between reports, increasing uncertainty.
  • European model: Some companies already report semi-annually, but this stretches uncertainty for investors.

• Short-Term vs. Long-Term Thinking:

  • Critics like Warren Buffett and Hillary Clinton argue that quarterly reporting “emphasizes short-term thinking... at the cost of the long-term health or strategy of the company.”
  • Schmidt acknowledges that less frequent updates could promote more long-term perspectives, but warns it would also introduce more uncertainty and potential for increased stock market volatility.

Notable Quotes

• Sabri Ben-Ashour (Host):
  “You pour over these quarterly reports as part of your job. What do you look for? How important are these to you as an investor?” [02:04]

• Susan Schmidt:
  "Those quarterly reports are something that investors spend a lot of time on because it's the update from the company of how things are going and importantly, their outlook for the remainder of the year. And it provides tremendous insight..." [02:04]
  “It would save me a lot of time, but the difference is that I wouldn’t have as explicit detail as is released in those quarterly reports... I’d be taking bigger guesses, longer timeframe of assuming that the company is going along with my expectations until I get an actual update on the numbers from them.” [02:26]
  “The problem with quarterly reports is it shortens investors’ expectations of getting results. If you stretch it out, you’re able to look at the longer term. However, stretching it out also means you’re going through longer periods of uncertainty. That can mean more volatility in the stock market as well.” [03:23]

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2. Business & Economics Headlines

FTC Investigation into Ticketmaster

[03:52 – 04:19]

• The FTC is probing Ticketmaster for “possibly not doing enough to keep bots from scooping up tickets and then reselling them on its platform.”
• Live Nation stock dropped 3% on the news.

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3. Federal Reserve Meeting: Politics and Policy

[05:19 – 07:07]

Key Discussion Points

• Fed Governor Drama:
  • Lisa Cook continues to serve despite efforts by President Trump to remove her over allegations (which she denies); a federal judicial panel ruled she can fight her removal while remaining in her role.
  • President Trump may still escalate to the Supreme Court.
• New Face at the Fed:
  • Stephen Myron, formerly chair of the President’s Council of Economic Advisors, was confirmed to the Fed’s Board of Governors in a tight 48–47 vote.
  • Concerns about conflict of interest, but Myron “said he's committed to Fed independence.” [05:43]
• Interest Rate Expectations:
  • Anticipation of a 0.25 percentage point rate cut, attributed to concerns over rising unemployment.
  • “A quarter point cut won't be enough to satisfy President Trump, though. He says rates are at least three points too high.” [06:42]

Notable Quotes

• Nancy Marshall-Genzer (Marketplace):
  “The Fed lowers the cost of borrowing to stimulate the economy so businesses can go out and borrow money to hire new workers.” [06:42]

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4. Africa’s Push for Inclusive Artificial Intelligence

[07:08 – 10:40]
Segment by BBC correspondent Pumza Filani

Key Discussion Points

• AI is only as good as its training data: Many African languages (of which there are hundreds) are not represented in major AI models, risking exclusion and technological irrelevance for much of Africa.
• On-the-ground example:
  • On a farm in South Africa’s platinum region, a farmer named Lebu uses an AI-powered app (“AI Pharma”) that speaks Setswana to solve practical farming problems.
• Challenge: such localized, language-savvy tools are rare because AI needs massive data in each language.
• New Initiatives:
  • “Africa Next Voices” project has compiled the largest dataset of African languages (18 local languages) from ordinary people across South Africa, Kenya, and Nigeria.
  • The dataset will be open-access for global developers.
  • Homegrown company Lilaba AI is building banking and telecom communication systems that understand native African languages.
• Broader Significance:
  • “This isn’t just about Africa claiming a seat at the digital table. It’s about using the technology to serve its people in their own voice.” [10:25]

Notable Quotes

• Farmer Lebu:
  “I think for somebody in the rural areas like me who is not exposed to technology or anything, you can ask in a simple language." [08:43]

• Billonomi Mwaila (Lilaba AI CEO):
  “It can be the difference between accessing healthcare. It can be the difference between being able to engage with your bank and managing your banking needs or your taxes or even speaking to your government.” [10:14]

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Memorable Moments & Quotes

• Susan Schmidt on Reporting Frequency:
  “If you stretch it out, you’re able to look at the longer term. However, stretching it out also means you’re going through longer periods of uncertainty. That can mean more volatility in the stock market as well as investors change their minds on what’s actually happening and you see that reflected in the stock market price.” [03:23]

• African Farmer on Local-Language AI:
  “You can ask in a simple language.” [08:43]

• Billonomi Mwaila on Inclusive AI:
  “It can be the difference between accessing healthcare...” [10:14]

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Timestamps for Important Segments

• Quarterly Reporting Debate: 01:30 – 03:47
• Ticketmaster Investigation: 03:52 – 04:19
• Federal Reserve Meeting & Personnel: 05:19 – 07:07
• AI and African Languages: 07:08 – 10:40

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Tone and Style

• The episode is brisk, fact-driven, and conversational, reflecting Marketplace’s accessible approach to business journalism.
• Commentary interweaves serious financial analysis with human stories, particularly in the segment on AI and African languages.

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This summary captures all key topics and dialogue from the episode, providing a complete and accessible overview for those who didn’t listen.

Transcript

[A]

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[B]

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[C]

Corporate oversharing from marketplace. I'm Sabri Ben, ashore in for David Brancaccio. In a post on Truth Social, President Trump said companies should not have to report earnings four times a year. Two times a year would be plenty enough. He said it would save money and time. Well, Susan Schmidt is one of the folks who is often looking at quarterly reports. She's portfolio manager at Exchange Capital Resources and joins us to talk about. Hi Susan, Good morning. You pour over these quarterly reports as part of your job. What do you look for? How important are these to you as an investor?

[D]

Those quarterly reports are something that investors spend a lot of time on because it's the update from the company of how things are going and importantly, their outlook for the remainder of the year. And it provides tremendous insight and the guide for how investors are going to treat that stock for the coming months.

[C]

So what do you think would happen if you know, we only got those reports twice a year instead of four times a year.

[D]

Well, it would save me a lot of time, but. But the difference is that I wouldn't have as explicit detail as is released in those quarterly reports. And that would mean that I'd be taking bigger guesses, longer time frame of assuming that the company is going along with my expectations until I get an actual update on the numbers from them. Those actual numbers on profits, operating margins, expenditures are released in the quarterly reports. Stretching that out over six month periods is done. Some companies in Europe report like that, but it means that I have a longer timeframe without certainty of what actually happened.

[C]

Well, you know, President Trump is not the only critic of quarterly reports. Warren Buffett, Hillary Clinton have criticized him too. And one of the main issues they have is that quarterly reports emphasize short term thinking. You know, make a quick buck now, but at the cost of the long term health or strategy of the company. What do you think about that?

[D]

It's very true. The problem with quarterly reports is it shortens investors expectations of getting results. If you stretch it out, you're able to look at the longer term. However, stretching it out also means you're going through longer periods of uncertainty. That can mean more volatility in the stock market as well as investors change their minds on what's actually happening and you see that reflected in the stock market price.

[C]

Susan Schmidt, portfolio manager at Exchange Capital Resources. Thank you so much.

[D]

Thank you.

[C]

The FTC is investigating Ticketmaster for possibly not doing enough to keep bots from scooping up tickets and then reselling them on its platform. That is, according to Bloomberg, parent company Live Nation. Stock down 3%.

[A]

Want to make a difference in your community, but not sure how? Go to GoFundMe.com right now and start a GoFundMe. Seriously. Your next fundraiser doesn't have to start in a school parking lot or a church basement. You can start a GoFundMe today in just minutes. Fundraise for yourself, a friend or family member or an organization. All that matters is that you care about them. GoFundMe is the trusted place to fundraise for what you care about. With no pressure to hit your fundraising goal, but tons of tools to help you reach it, you can confidently start fundraising right now. Whether it's creative, local or critical, your cause matters. And there's a reason why. GoFundMe is backed by millions and chosen by fundraisers everywhere. It works and it matters. GoFundMe helps you make a real difference. Start your GoFundMe today. @gofundme.com that's gofundme.com G O F U N D M E dot com this is a commercial message brought to you by GoFundMe.

[C]

The Federal Reserve begins a two day meeting on interest rates today. Current Fed Governor Lisa Cook, that's the one President Trump has been trying to fire so far unsuccessfully, will be there. There will also be a new face at this meeting. Marketplace's Nancy Marshall Genser is here with the details. Hi, Nancy.

[E]

Good morning.

[C]

So the new face is Stephen Myron. He was confirmed by the Senate yesterday. He's already gonna be there.

[E]

Yeah. He was confirmed as a member of the Fed's Board of Governors by a vote of 48 to 47. Now, Myron was chairman of the President's Council of Economic Advisors. He's just taking a leave of absence from that job to join the Fed. Some Democrats and Fed watchers are concerned that Myron will have a conflict of interest at his confirmation hearing, though Myron said he's committed to Fed independence.

[C]

Now turning to Fed Governor Lisa Cook, Nancy Trump has tried to fire her. She'll still be there.

[E]

Yeah. Last night, a panel of federal judges ruled that Cook can stay in her job while she fights the Trump administration's efforts to oust her because of alleged mortgage fraud, which she denies. President Trump could still ask the Supreme Court to block Cook from continuing to serve, though, while her case plays out.

[C]

And onto the, you know, actual substance of this meeting. Everyone at this point expects the Fed to lower interest rates. Remind us why that is.

[E]

Yeah. The thinking is that Fed officials will cut rates by a quarter percentage point because they're worried about rising unemployment. The Fed lowers the cost of borrowing to stimulate the economy so businesses can go out and borrow money to hire new workers. A quarter point cut won't be enough to satisfy President Trump, though. He says rates are at least three points too high.

[C]

All right, Marketplace's Nancy Marshall Genser. Thank you so much.

[E]

You're welcome.

[C]

Artificial intelligence is only as good as its training. If AI models are only trained in, say, English or Chinese, they may not be well versed in the details of many other cultures and languages. That is a concern in Africa. It's home to a third of the world's languages, many of which are missing from AI development. And there are now efforts in South Africa, Kenya and Nigeria to Change that. The BBC's Pumza Filani filed this report.

[F]

Hola Pille.

[G]

In the blistering sun in Rustenburg, the heart of South Africa's platinum region, we arrive on a 21 hectare farm and find a small team hard at work tending to rows and rows of vegetables. She's a 45 year old mother turned produce farmer, interchanging between two local languages, Setswana and Isekhosa. She gives instructions to each of her workers on what needs to be done. It's a small glimpse of language diversity at play, yet local experts say the opportunity for AI to help solve everyday challenges in Africa is immense if designed with local languages in mind. Our farmer Lebu agrees. She uses a homegrown app, AI Pharma, for help when problems arise on her farm and can act quickly, saving time and money, prompting it in her home language, Setswana. The app understands and responds with suggestions.

[F]

You can see my cabbages, they're like opening. So you know, I can go into AI and ask that my cabbages are opening, what that is. I think for somebody in the rural areas like me who is not exposed to technology or anything, you can ask in a simple language.

[G]

So what did you just ask the app now?

[F]

I just asked that.

[G]

But such language savvy tools are extremely rare and AI needs massive data to work well. A new project called Africa Next Voices may help with this. Its researchers have created the largest known data set of African languages across South Africa, Kenya and Nigeria. They asked everyday people to talk about everyday things, from farming, schooling to healthcare in 18 different local languages. The digital trove will be free for developers worldwide. And one developer who may benefit from this is South Africa's Lilaba AI, a business that's already creating communication systems for banks and telecoms companies. We're in Rosebank at the offices of Lilaba AI. It's a homegrown tech company who say they're building artificial intelligence that understands Africa's own languages.

[F]

You want people to have agency over their lives?

[G]

Here's their CEO, Billonomi Mwaila.

[F]

It can be the difference between accessing healthcare. It can be the difference between being able to engage with your bank and managing your banking needs or your taxes or even speaking to your government.

[G]

And so, for those pushing for inclusive AI, this isn't just about Africa claiming a seat at the digital table. It's about using the technology to serve its people in their own voice.

[C]

That was the BBC's Pumza Fulani in New York. I'm Sabri Benishore with the Marketplace Morning.

[A]

Report.

[C]

From APM American Public Media.

[H]

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