SpaceX Making IPOs Great Again & Does Your Dog Love You? 6/16/26

Summary

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Squawk Pod Episode Summary

Episode: SpaceX Making IPOs Great Again & Does Your Dog Love You?
Date: June 16, 2026
Hosts: Joe Kernen, Becky Quick
Notable Guests: Paul Atkins (SEC Chairman), Arthur Brooks (Professor, columnist), Megan Casella (CNBC), plus featured remarks from President Donald Trump

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Episode Overview

This episode of Squawk Pod dives into three central topics:

1. SpaceX’s historic IPO and the resurgence of mega-listings on Wall Street
2. The state of U.S. and global affairs, including reporting from the G7 Summit with a focus on Iran and Ukraine
3. The science of happiness, including sports fandom and whether your dog really loves you, with Arthur Brooks

The episode blends financial news and regulation insights with lighter, human-interest science.

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Key Discussion Points & Insights

1. SpaceX IPO: A Game Changer for Public Markets

(02:42–04:58; 12:56–19:43)

• SpaceX's IPO Stats:

  • Debuted with a 20% gain in its first day
  • Market cap now above $2.5 trillion
  • IPO raised $85.7 billion after underwriters exercised the greenshoe option
  • Investor Ron Barron added $1 billion to his already $24B holding, profiting by 'hundreds of millions'

  “Had a big market cap already and then gained another 20%... Company’s market cap now above $2.5 trillion.”
  — Becky Quick (02:42)

• Investor Participation:

  • Discussion on how average investors have less opportunity as companies go public later and at higher valuations

  “They have stayed private much longer and the valuation gets to much higher levels. So, the average person doesn’t get any of that.”
  — Becky Quick (15:31)

• SEC Policy and IPO Pipeline:

  • SEC Chairman Paul Atkins discusses making IPOs “great again” and how optimism and predictability are attracting companies back to public markets.
  • Regulatory reform aims to curb disclosure complexity, litigation risk, and clarify financial materiality, seeking to reverse the trend of shrinking public company counts.

  “The real story is the other [IPOs] that are in the pipeline and how we need to make our markets more predictable and attractive for companies to go public.”
  — Paul Atkins (01:25)

  “We have now half the number of public companies as we had 30 years ago… My whole goal is to increase the number.”
  — Paul Atkins (15:50)

• Mandatory Arbitration in IPOs:

  • SpaceX’s incorporation in Texas enables mandatory arbitration clauses for shareholders—a point of contention for institutional investors, but Atkins maintains the SEC does not intervene in state corporate law.

  “The SEC is not a merit regulator… On corporate state law, that’s not our bailiwick. We make sure there’s disclosure… then let the investors decide what’s best.”
  — Paul Atkins (18:43)

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2. Global Affairs: G7, Iran, and Ukraine

(05:34–09:00; 06:01–08:15)

• Reporting from G7 Summit:

  • Megan Casella reports from Evian, France.
  • Focus on the Iran deal: President Trump defends the Memorandum of Understanding (MoU) and clarifies no U.S. money is going directly to Iran.

  “We are not investing any money in Iran… We have the right to go in someday and do, if I want to do something, or somebody wants to do something, but we are not investing any money.”
  — Donald Trump (06:43)

  • U.S. officials say a $300B fund for reconstructing Iran and sanctions relief are conditional on Iran's behavior.

• Ukraine War:

  • President Trump stresses the U.S. is limiting involvement, selling weapons to Europe at full price but not participating financially in the Russia-Ukraine conflict.
  • Trump and Zelensky met, with Trump urging that Russia should “strike a deal” due to high human losses.

  “He did say that he thinks Russia should strike a deal… on average, it’s 25,000 a month [casualties].”
  — Joe Kernan (07:57)

  “The President… pretty clearly saying, yes, we sell them weapons, but we sell them at full price... wants to mostly stay out of it.”
  — Megan Casella (08:15)

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3. AI Layoffs, Tech & Regulation

(04:38–05:28; 23:24–24:38)

• Anthropic and Export Controls:

  • U.S. government restricts Anthropic’s foreign national access over security concerns, putting pressure on AI exports to potentially unfriendly nations.

• Robinhood Cuts:

  • Trading app Robinhood lays off 10% of workforce, officially citing performance and discipline, but ongoing debate over whether layoffs stem from AI automation or overhiring persists.

  “Every time something like this happens, we’re going to be asking, was it the workforce bloated or is it AI?”
  — Becky Quick (04:58)

4. Climate Disclosure Rules under Review

(19:06–20:55)

• SEC proposes rescinding climate risk disclosure put in place under Gary Gensler, arguing move toward “financial materiality” and less speculative disclosure requirements.

  “We propose to withdraw that rule to rescind it. So it’s out for comment.”
  — Paul Atkins (19:43)

5. Prediction Markets & Regulatory Collaboration

(21:04–22:53)

• New CFTC Chairman Mike Selig praised; focus on regulatory collaboration to keep American financial innovation under U.S. jurisdiction and harmonize with DOJ, especially in light of prediction markets and inside information risks.

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Memorable Quotes & Moments

• Arthur Brooks on Character in Politics:
  “If that’s all you know about a politician [that they cheat], that’s a good indicator of performance, that’s a good indicator of ethics, that’s a good indicator of character. And if that’s all you know, that’s actually something worth voting on.”
  — Arthur Brooks (01:48, 28:15)

• How Sports Fandom Unites America:
  “The more that people actually cheer for the World Cup, the less they’re going to be bitterly divided with respect to politics... Bring America together around fandom. And it really works.”
  — Arthur Brooks (30:19)

• Science Behind Dogs Loving You:
  “When you make eye contact with your dog and pet your dog, your dog gets a 56% bump in oxytocin, meaning that your dog neurochemically actually loves you. Your cat gets a 12% bump, but… your cat tolerates you.”
  — Arthur Brooks (34:47)

• On Life and Gratitude:
  “Life is so sweet and life’s so good. There’s so much for us to actually be on… I’m grateful for this show and to be out here with you right now.”
  — Arthur Brooks (33:51, 33:56)

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Timestamps for Key Segments

| Time | Segment Description | Notable Speaker | | ----------- | ---------------------------------------------------------- | ----------------------- | | 02:42–03:35 | SpaceX IPO stats and investor story | Joe Kernen, Becky Quick | | 06:01–09:00 | G7 Update: Iran deal, Ukraine comments | Megan Casella, Trump | | 12:56–17:00 | IPOs, SEC regulatory goals, public/private company trends | Paul Atkins, Becky Quick| | 18:25–19:43 | Mandatory arbitration, climate disclosure regulation | Paul Atkins | | 21:04–22:53 | Prediction markets, CFTC-SEC cooperation | Paul Atkins, Becky Quick| | 24:58–29:24 | Sports, Fandom, Knicks victory impact | Joe Kernen, Arthur Brooks| | 34:47–35:24 | Do dogs really love you? Science of oxytocin | Arthur Brooks |

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Tone & Style Highlights

• Conversational, witty, and at times irreverent banter between hosts
• Data and policy insights explained in a lively, accessible tone
• Arthur Brooks brings warmth and optimism to current events and behavioral science topics

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Useful For

Anyone wanting a quick yet thorough overview of:

• The current state and significance of the U.S. IPO market, especially following SpaceX’s historic listing
• How regulatory shifts may impact future public offerings and market participation for regular investors
• Key geopolitical stories from the G7, with U.S. positioning on Iran and Ukraine
• Insights into the social value of sports, happiness science, and the emotional bond between humans and their pets

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For the full emotional uplift, tune in for the ‘does your dog really love you?’ breakdown and Arthur Brooks’ musings on sports as community glue.

Transcript

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[Arthur Brooks]

show music please

[Joe Kernen]

hi, I'm CNBC producer Katie Kramer. Today on Squawk Pod, have you heard about Space X Elon Musk's massive Wall street public offering has the company on a meteoric rise. Will other mega IPOs follow suit?

[Becky Quick]

We got the SEC chair on and who are IPO is hot. Let's let's go baby.

[Joe Kernen]

Paul Atkins of the securities and Exchange Commission on the enthusiasm.

[Paul Atkins]

Well, I think it's a great testament to the US Capital markets and the goals, but the real story is the other ones that are in the pipeline and how we need to make our markets more predictable and attractive for companies to go public.

[Joe Kernen]

Then Arthur Brooks, professor and columnist on what's good for us and the personal scandals that probably aren't good for politics.

[Arthur Brooks]

So private life and public life. But the truth is if that's all you know about a politician, that's a good indicator of performance, that's a good indicator of ethics, that's a good indicator of character. And if that's all you know, that's actually something worth voting on.

[Joe Kernen]

Plus, President Trump at the G7 summit. Our Megan Casella reports.

[Megan Casella]

The European leaders have really wanted to see the US Step up more and jobs.

[Joe Kernen]

Artificial intelligence taking a toll at the headcount of another tech high flyer.

[Becky Quick]

Was it the workforce bloated or is it AI?

[Joe Kernen]

It is Tuesday, June 16, 2026. Squawkpod begins right now.

[Arthur Brooks]

Stand Becky by in 3, 2, 1.

[Joe Kernan]

Good morning everyone. Welcome to Squawk Box right here on cnbc. We are live from the NASDAQ Marketsite in Times Square. I'm Becky Quick along with Joe Kern and Andrew is off today.

[Becky Quick]

Had A big market cap already and then gained another 20% in its first full day of trading. Talking about Space X, it was a 20% gain on its first day from the IPO price when these shares started trading just before noon. Company's market cap now above $2.5 trillion. SpaceX Investor Relations saying that the total raise in the IPO was $85.7 billion after underwriters officially exercised their overallotment of shares, commonly known as a green shoe option.

[Joe Kernan]

We had Ron Barron here yesterday. He said he asked for $1 billion and he got $1 billion on Friday. In terms of now he's got more than $25 billion. And that was before the gains that you saw yesterday.

[Becky Quick]

Wow. So he hit that. He's got 25 billion.

[Joe Kernan]

He had 24 billion before he put another billion dollars that he took. Yeah, for his funds.

[Becky Quick]

His funds. Yeah.

[Joe Kernan]

And yeah, that was before the 20% gains you saw yesterday. Asked him how much he made. Hundreds of millions of dollars so far. So far.

[Becky Quick]

So far, Shatner. Yeah, I'm going to find it, huh?

[Joe Kernan]

Senior staffers from Anthropic meeting with Trump administration officials to try to resolve their latest dispute. A source tells CNBC that that gathering took place in Washington, D.C. yesterday. Last week, the government ordered Anthropic to suspend foreign nationals access to its latest AI models over security concerns. According to Reuters, Commerce Secretary Howard Lutnick told the company there were worries that its technology could end up in the hands of military intelligence in China. Russ, or other countries. The Washington Post says that the White House weighed export controls against Anthropic weeks ago after the administration learned a Korean telecom company suspected of having ties to China had been given access.

[Becky Quick]

News just out from Robinhood, the trading platform cutting 10% of its workforce. Company said it's taking the action to maintain a high performance culture, further accelerate product velocity and remain lean and disciplined. And we're going to be. Every time something like this happens, we're going to be asking, was it the workforce bloated or is it AI?

[Joe Kernen]

It.

[Joe Kernan]

Was it AI? Now, Joe Lonsdale was just here last week and told us.

[Becky Quick]

He says everybody's bloated.

[Joe Kernan]

He thinks everybody who uses this excuse is doing it because they were bloated and never hired.

[Becky Quick]

Yeah, I remember that. He said that. Yeah.

[Joe Kernan]

And some of his friends in the industry think the same thing. So it's tough to say. It didn't sound like Robin Hood was saying AI.

[Becky Quick]

No, no. No one wants to cop to that. They wanted to.

[Joe Kernan]

Well, for a while, everybody was using it as an excuse. Oh, it's not that I overhired. It's that we can do things well

[Becky Quick]

now, you know, when they get booed at graduation.

[Joe Kernan]

Yeah, maybe real down low on that.

[Donald Trump]

Thank you very much, everybody. We appreciate you being here. We've had a great meeting. We have a great relationship. The Amir is a fantastic man, respected all over the world.

[Joe Kernan]

President Trump sitting down with the mayor of Qatar in just the last hour at the G7 summit in France. Megan Casella joins us right now. She's got more on what's been happening at the G7 and what we can expect throughout the day. Meghan, good morning.

[Megan Casella]

Becky, good morning. That's right. All of those leaders just across the lake from where I'm standing right now, sitting down in Evian, France, right now for a meeting with with Middle Eastern leaders. All of those G7 leaders around one table talking about a lot of things. But of course, the Iran deal being top of mind and at the top of that meeting that we saw earlier today, president and the leader of Qatar, we really heard from President Trump the most that we've heard from him since this memorandum of understanding was signed on Sunday. And he was really out there defending his deal, saying, of course, that now it goes to a second stage which he believes will be easier, saying he thinks the deal can survive even if Israel continues attacking Lebanon. And he also spoke a little bit about the financial relief that's on the table for Iran. Take a listen to some of the president's remarks.

[Donald Trump]

We are not investing any money in Iran. By the way, that rumor got out there yesterday. It was ridiculous. We have the right to go in someday and do if I want to do something or somebody wants to do something, but we are not investing any money. We have no obligation to invest any money in Iran.

[Megan Casella]

Now, guys, senior U.S. officials did tell reporters yesterday that a $300 billion fund to reconstruct Iran is on the table, along with sanctions relief and the potential unfreezing of Iranian funds, but that all of it is tied to Iran's performance. The president, though, differentiating between investing in the country and that $300 billion fund. So some defense going on there today. The other big topic at the G7 today has been the other war that's going on, Russia and Ukraine. President confirmed that he did sit down with Ukrainian President Volodymyr Zelensky earlier this morning and that he will be meeting with him again later today. President Trump called that a very good meeting, but he sought to distance the US from that Russia, Ukraine war, saying yes, the US Sells weapons to Europe, but otherwise, he says, we have nothing to do with it. So two wars on the table. A bunch of other topics as well, being in the focus more tomorrow than today. Trade on the agenda as well, of course, all of this, top of mind for the leaders. Iran being at forefront, guys.

[Joe Kernan]

Meghan, he did say that he thinks Russia should strike a deal when it comes to this because of the enormous number of people that they're losing every month. Young people, he said, military age, people who are going to the front. I think he said on average, it's 25,000amonth. And that if anything, he would weigh in because he'd like to see an end to that.

[Megan Casella]

Absolutely. He also said he thought that this war was going to be easier to solve than it has been, that he would really like to see Russia make a deal. And of course, this is really at the forefront because of those fresh attacks we saw Russia launch just on Sunday, putting this at the forefront of everybody's minds leading into the G7. Zelinsky was out with a statement right after that saying he wanted to see a forceful Response from the G7. Emmanuel Macron, the leader this year of the host country, saying that he wanted to be discussing a cease fire this week. So that's on the table. But the President. There have been so many questions about what the US Role would be here in ongoing fashion when it comes to the Ukraine war. The European leaders have really wanted to see the US Step up more. And the President pretty clearly saying, yes, we sell them weapons, but we sell them at full price. We don't give any money for this. And he wants to mostly stay out of it.

[Joe Kernan]

Yeah. All right, Meghan, thank you very much.

[Becky Quick]

I thought, how nice. You know, it says G7, and then it says, brought to you by Evian. Did you see that Evian one? So it's not being sponsored. I thought, how nice that was.

[Joe Kernan]

It was named after the.

[Becky Quick]

So I'm looking it up and I want to know where Evian is in France. So I said, directly across from Geneva.

[Joe Kernan]

She said, across the lake.

[Becky Quick]

Anthropic.

[Joe Kernan]

Yeah.

[Becky Quick]

So the G7 is an Evian. France. No, no, it's not an evian. That was 2003. This is Claude. That was 2003. The 2025 G7 summit was held in Kansas, Alberta. And I said, okay, fine. What about the current G7 taking place today? That is today. The Kanasakis summit runs June 15 to June 17. So today, June 16 is day two. It's currently underway. Then it gave me the key issues. And I said, wasn't that last year? Claude says, no, that's this year, 2025. And happening right now, this week, today is June 16, 2025. I said, isn't this this year is not 2025? Is it? Isn't it 2026?

[Joe Kernan]

I'm sorry, you're right.

[Becky Quick]

I'm sorry, it is 2026. Let me check. You were right. It is inevitable.

[Arthur Brooks]

That's the current state.

[Becky Quick]

And by the way, this is what the US Military is arguing. Yeah, this is what the US Military is arguing. This is anthropic right now. This is the state of a.

[Joe Kernan]

That's the free version. You're not paying.

[Becky Quick]

If you search anything and take it as an answer on any AI, buyer beware. Go back to the drawing board.

[Joe Kernan]

But it's free.

[Becky Quick]

And that's exactly what it is. That's what it's worth.

[Arthur Brooks]

Teas will be next.

[Joe Kernen]

Still to come on squawk pod making IPOs great again. The SpaceX enthusiasm may be greasing the wheels for other big offerings. The market's chief regulator, SEC Chairman Paul Atkins.

[Paul Atkins]

I mean, the tone has changed, obviously, and tone means a lot in the marketplaces, as you know, market sentiment.

[Joe Kernen]

We'll be right back. Hey, Fidelity, what's it cost to invest with the Fidelity app?

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[Joe Kernen]

And we're back. This is Squawk Pod.

[Becky Quick]

I think it's 2026. I'm gonna check on that. Tuesday. But you know what's weird about Tuesday? It's like in different parts of the world, it could be Wednesday, could be Monday. Right.

[Joe Kernan]

Just based on the time change.

[Becky Quick]

Yeah. So that's confusing here. Trying to cut. Trying to cut Claude some slack. You're watching.

[Joe Kernan]

So it might be 2025.

[Becky Quick]

That's a big if you're off by a year. It's not good. It was in Canada. I'm Joe Kernan along with Becky Quick. Space X is the largest IPO to date. But other mega listings like Anthropic and Open Air expected this year as well. Joining us for more on the IPO pipeline, SEC Chairman Paul Atkins. Good to have you on.

[Paul Atkins]

Well, thank you, Joe.

[Becky Quick]

It's great to be funny to intro you like that. We got the. The SEC chair on and who are. IPO is hot.

[SoFi Announcer]

Let's.

[Becky Quick]

Let's go, baby. But in a way, it is good for the country, is it not?

[Paul Atkins]

Well, I think it's a great testament to the U.S. capital markets. You know, we have the largest and most liquid capital markets in the world. And so there's a lot of tension on Space X and some of the other ones that are coming up. But, you know, we are part of our whole drive here at the SEC under my leadership of last year, 14 months has been to make IPOs great again. And so we've had a big bang. But the real story is the other ones that are in the pipeline and how we need to make our markets more predictable and attractive and practical for companies to go public.

[Becky Quick]

That doesn't mean that companies are saying, we got to do it. While Atkins is this chairman, is there a push to do it while it might be a more fertile time? Because it's not because of you.

[Paul Atkins]

It's right. I mean, the tone has changed, obviously, and tone means a lot in the marketplace as, you know, market sentiment. But we're looking at the long term we had. So our new corporation finance director compares it to this old house where, you know, we're out to scrape away the layers of paint on the banister and the doors that don't Work and whatnot, to make it go back down to the wood, put the primer on and then the finishing coat. To really make our whole system more practical, less complicated, less expensive, and to drive. To draw people out from in the private markets into the public market.

[Becky Quick]

I mean, we talk about all the time how much longer companies stay private. There's a lot of reasons for that. Sure, obviously. But do you think some of them were what you've just been talking about?

[Paul Atkins]

Absolutely.

[Becky Quick]

And if the public isn't, we just. I saw an ad that was just running on CNBC about the first time the normal people can ever get in on. On any of these things. They have stayed private much longer and the valuation gets to much higher levels. So. So the average person doesn't. Stole out of the run, doesn't get any of that.

[Paul Atkins]

Well, when I started out as a young lawyer up here in New York doing IP IPOs back in the mid-80s, a big IPO would be what's a, B or maybe C round in the private equity side these days. So, you know, we need to. We have now half the number of public companies as we had 30 years ago. And so my whole goal is to increase the number, to get it so that, you know that there is a good balance between the private and public market.

[Joe Kernan]

What do you hear from companies in terms of why they don't want to go public? I assume you've been talking to some of these companies. What would make them more likely to go public earlier?

[Paul Atkins]

Well, there are basically three big things, and one is just the, the cost of, of disclosure and the, you know, the complexity of the rules around it right after.

[Joe Kernan]

Which is why the administration has proposed doing it every six months instead of every.

[Paul Atkins]

Well, that's what we came out with. But, you know, so the, the cadence of disclosure is one thing, perhaps, but it's just the whole. The sheer volume of it and then to sustain the apparatus of being able to keep current and, and to keep these.

[Becky Quick]

How about mandatory arbitration? Who was that we had on. Was it last week or the week before where the answer was lawyers, lawyers, lawyers.

[Jimmy Uso]

It was a lawyer.

[Joe Kernan]

It was Jay Clayton who, Who is a lawyer. It was right around the time he was.

[Becky Quick]

There was some industry and some state that did something that changed the tort. There was some tortoise. So this would do it, wouldn't it?

[Fidelity Legal Disclaimer]

Right.

[Paul Atkins]

Well, so we have basically three major parts of what we're trying to do to make IPOs great again. One is addressing the cost and complexity of disclosure. We've departed way away from what the Supreme Court has directed us to do. And let's look at financial materiality, not what somebody here or there, even a big investor or special somebody with an ax to grind wants to know, but what the reasonable investor and objective case needs to know in order to make a investment decision. Second is looking at the cost of litigation. And so with the SEC in the past has turned away IPOs that had in the bylaws of the company requiring mandatory arbitration.

[Becky Quick]

You like it?

[Joe Kernan]

And I'm Sorry, it's in SpaceX.

[Paul Atkins]

Yeah, it's in Space X. But that Delaware has outlawed that. But basically Texas is different. There are 49 other states besides Delaware and, and Space X is incorporated in Texas and has that provision.

[Joe Kernan]

But there is some pushback that's come. I think the New York state controller, Thomas DiNapoli, the New York City controller, CalPERS CEO Marcy Frost, all of them wrote a letter saying that they were opposed to this idea that they didn't think that their investors could get a fair shake if they weren't allowed to bring class action lawsuits at some point.

[Paul Atkins]

Yeah, well, so we'll see. It's. But if Texas allows it and the company has done it, the SEC is not a merit regulator. We don't pick winners and losers. We call balls and strikes. And so with respect to things of corporate law, matters of corporate state law, that's not in our bailiwick, we make sure that there's disclosure on it and then let the investors decide, you know, what's best.

[Becky Quick]

So you might. There was a proposal on Friday to formally rescind the climate risk disclosure regulation that was adopted under, under Gary Gensler. So that takes the notion that CO2, 400 parts per million or whatever it is what increases the risk of certain climate events. And this is something that companies needed to do what with in terms of what was that SEC rule. And it was based on climate models that we now have seen some of them totally pulled back on the worst case scenarios.

[Paul Atkins]

Well, I think that's a poster child of how the SEC has veered away from financial materiality. What a reasonable investor needs to know in order to make an investment decision, as Supreme Court stated. And so the what we're. We propose to withdraw that rule to rescind it. So it's out for comment. So we're welcoming what companies.

[Becky Quick]

So what would they have to, they'd have to say if there's adverse weather five years from now, this is something you have to consider. Consider and an investment in our company or something.

[Paul Atkins]

Well, it was a Very.

[Becky Quick]

Someone said that with a straight. Gensler proposed that with a straight face.

[Paul Atkins]

It was, it was very. It's a very complicated rule. It was put on ice almost immediately, so to speak, after it was there

[Becky Quick]

in any ice left.

[Arthur Brooks]

Well, there in the Arctic.

[Becky Quick]

So not supposed to be.

[Paul Atkins]

But anyway. But the. But public companies need to disclose what's material to them. And if there be something with respect to some aspect of potential climate change that, you know, isn't just speculation that they need to disclose, then that's one thing. But this rule went way beyond it by the SEC's own estimate.

[Becky Quick]

I have no words. The CFTC is not. Don't have enough money to do the prediction markets, does it? Don't you need to help?

[Paul Atkins]

Well, the cftc, I'm really happy to say, is now led by Mike Selig, who's a very capable fellow.

[Becky Quick]

Do you think they can handle it or do that individual states need to or how is it going to play out? It seems like the wild, wild west right now.

[Paul Atkins]

Well, I think this Mike Selig is addressing that. So he came from my office. He was the chief counsel of our crypto task force. And so he's very capable, smart fellow. I think he's doing a great job at the cftc. And so I think he's trying to make sense sense of, you know, the various innovative products that are being traded around the world. And so the, you know, what we need to do is make sure that innovation happens in the United States under American laws for the benefit of American investors.

[Becky Quick]

We all remember what was the name of that, remember in Wall street. And it was right before Charlie Sheen got trouble. But the SEC has always been the one that watches for, you know, inside information and trading on that. The prediction markets seem rife with that. You're not, you're not involved. You're leaving that up to the CFTC or.

[Paul Atkins]

Well, we. So we have been approaching the markets for the first time ever in harmony with the CFTC to try to end the turf battles and endless turf battles between the SEC and the cfp, the ftc. We're sticking to the securities markets. They own the commodities markets. They have an equivalent and analog to the rules regard FCC regarding inside trading in the securities markets. In the commodities markets, they are in the process of looking at that and obviously bringing. Working with the Justice Department to address cases of people who are manipulating the market.

[Becky Quick]

Wasn't Charlie Sheen, actually it was someone he played Bud Fox. It wasn't Michael Douglas, it was Gordon Gekko. I should be clear. I Don't get sued. Anyway, it's good to have you on.

[Paul Atkins]

Yeah, it's great to be here. Good to see all of you.

[Becky Quick]

Thank you.

[Joe Kernen]

Next on Squawk Pot, our happiness guru, Arthur Brooks. Sports, Politics Pets what really makes us happy?

[Arthur Brooks]

When you make eye contact with your dog and pet your dog. Your dog gets a 56% bump in oxytocin, meaning that your dog neurochemically actually loves you.

[Joe Kernen]

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[Podcast Sponsor Announcer]

CNBC Sport and Boardroom Join Fanatics Fest

[Arthur Brooks]

for game plan groundbreaking ideas shaping the

[Podcast Sponsor Announcer]

future of sports and entertainment. Request your invite@cnbc events.com gameplan.

[Joe Kernen]

You're listening to Squawk Pod from CNBC Today with Joe Kernan and Becky Quick, joined now by Arthur Brooks.

[Becky Quick]

Up and Becky. Thank you.

[Joe Kernan]

Welcome back everybody. The New York Knicks won the NBA Finals on Saturday night. And then they set another record, this one in business. Fanatics says that New York sold the most merchandise following an NBA championship ever that amounted to more than 8,000 orders per minute. The all time sales record following a championship to this point belonged to the 2016 Chicago Cubs. Although New York could still beat that record. I don't know how far back this goes because this is as long as Fanatics has been in business. I don't know if it goes back to like the Bulls. 3 peat type of things.

[Becky Quick]

Inflation adjusted.

[Joe Kernan]

Inflation adjusted. And you can sell to the entire country online, which you used to be able to do. So you can.

[Becky Quick]

Proportional to how long. I mean, the Cubs.

[Joe Kernan]

How long has it been since you won?

[Becky Quick]

When they finally won, how long it had been.

[Joe Kernan]

It had been 53 years for us.

[Becky Quick]

I know, but it was a lot longer than that. I want to say it was until Rick would do.

[Joe Kernan]

Oh, how long was the Cubs drought?

[Becky Quick]

Yeah.

[Joe Kernan]

In a championship.

[Becky Quick]

Brooksie is here.

[Arthur Brooks]

Good morning to you.

[Becky Quick]

I thought we had Albert Brooks.

[Arthur Brooks]

I'm not Albert Brooks.

[Becky Quick]

I thought it was 108 years.

[Arthur Brooks]

I met Albert Brooks one time.

[Megan Casella]

Did you?

[Arthur Brooks]

Yeah, yeah, yeah.

[Donald Trump]

And.

[Arthur Brooks]

And I was sitting right next to him.

[Joe Kernan]

You're a little cheerier.

[Arthur Brooks]

Yeah.

[Becky Quick]

And I said, he is not happy. Well, yeah, no. And I said, maybe he is.

[Arthur Brooks]

He's actually hilarious.

[Becky Quick]

Oh, very funny.

[Arthur Brooks]

But he said. He said, what's your name? I said, my name is Arthur Brooks. He said, you're kidding me. And I said, yeah. And people have been calling me Albert since I was a kid. Because you're so famous. And he. Without. Without breaking a smile, without thinking at all, he said, imagine how Adam Hitler must have felt.

[Paul Atkins]

That fast.

[Becky Quick]

That fast.

[Megan Casella]

Very funny.

[Joe Kernan]

But you're far more cheerful.

[Arthur Brooks]

Oh, yeah, yeah. Well, it's sort of off brand for me to be grumpy.

[Joe Kernan]

Right.

[Becky Quick]

Yeah. I saw X. I saw someone on Twitter the other day, some comedian talking about the name Hitler, that it's gone. Any relatives? There is no name Hitler anywhere. Maybe there is, but.

[Donald Trump]

Yeah.

[Arthur Brooks]

No, it's not that great to be bin Laden.

[Becky Quick]

Probably not. That's rare. There's a lot of my things still. Celebrating the Knicks victory in the NBA Finals isn't just good for New York, it's good for the country, according to Albert Arthur. Harvard University professor Arthur Brooks. He's a columnist with the Free Press, host of the Office Hours with Arthur Brooks podcast. You got something to do with Harvard still, or.

[Arthur Brooks]

Yeah, I'm actually finishing up at Harvard, moving to Vanderbilt this summer.

[Becky Quick]

Everybody's.

[Arthur Brooks]

Nashville's hot, Nashville's hot, Vanderbilt's hot. It's a very exciting place.

[Becky Quick]

And then you're also talking about cheaters make bad politicians. Are cheaters good? What do they make? What are they good at? Nothing, really.

[Arthur Brooks]

Well, I mean, so I wrote a column a week ago because, you know, the Graham Platner thing was in the nude. Ken Paxton thing was in the news, and they're kind of famously been running around on their spouses. And so the question that a lot of people are asking me is, okay, what does this actually say, as a behavioral scientist, about what we know about them as politicians? You know, 90% of Americans say that adultery is bad. 2% say it's okay. I mean, this is one of the things that we can all kind of agree on mostly. I mean, for now, cheaters think that cheating bad.

[Becky Quick]

Yeah, but.

[Arthur Brooks]

But a lot of people say that has nothing to do with public life. So private life and public life. But the truth is, if that's all you know about a politician, that's a good indicator of performance, that's a good indicator of ethics, that's a good indicator of character. And if that's all you know, that's actually something worth voting on in the Knicks.

[Becky Quick]

So it's a big media market. Is that. Is it that simple?

[Arthur Brooks]

It's kind of that, but, you know, it's something else. There was this sort of Cinderella thing that was going on near the end of the season, and everybody likes getting behind that. And there's this sacredness about fandom. This is something I've studied for a long time. One of the things that will bring people together politically more than anything else is shared love for a team. And that's an interesting thing because, believe it or not, Aristotle wrote about the great philosopher 2500 years ago, said a shared love for a third thing, even if it's trivial like fishing, that has this kind of sacred sense to it, a divine thing. And when people around the country are seeing this team doing better and better, and it's against the odds, and it's been since 1973, people start getting into it. I have a buddy who, he doesn't live here, but he was texting me almost every day. We were talking about him before. He's such a big fan because he just loved the whole story.

[Joe Kernan]

But you know what? I think it's more the Cinderella aspect to it. And the idea that Jalen Brunson is 6 foot 2, he's such a decent person who comes off in such a great way. Because the one thing is, is New York thinks Everybody. Everybody thinks the same way. They do. And that makes the rest of the country not like New York so much.

[Arthur Brooks]

There's a lot of that. Yeah.

[Joe Kernan]

Give it. Hand it the team. This is an amazing group of players from Cat to Josh.

[Arthur Brooks]

No, that's right. You know, I grew up in Seattle. So far away. And the farthest east I'd been by the time I was a teenager was Idaho. I mean, this was Europe out here in New York. And I remember my dad just was against all the New York teams. He would have loved the Knicks this year. I mean, it just really has something.

[Becky Quick]

You can love the Knicks, but not like some of the fans.

[Arthur Brooks]

Yeah, of course, of course. But the other thing that's interesting about it is that.

[Becky Quick]

And I don't mean the normal fans.

[Arthur Brooks]

I mean the people who burned the box.

[Joe Kernan]

Celebrities.

[Becky Quick]

And there's.

[Arthur Brooks]

That's really an exception now. That's such an exception to people who do destructive things after these games. You find that. That people, serious fans of sports, they tend to be better citizens, they tend to vote better, they tend to be more active in their communities. And the key thing is, and most important, as far as I'm concerned, is we're talking about the World cup these days, because this is going to be a big deal over the coming weeks. The more that people actually cheer for the World cup, the less they're going to be bitterly divided with respect to politics. And my data have shown this for year after year. I've got a colleague at Harvard named Todd Rogers. This is his whole research agenda right now. Bring America together around fandom. And it really works. It's way more actually effective than almost anything else that you can do.

[Joe Kernan]

You know what? I was a skeptic when I heard it, but to hear you explain it like that, that kind of makes sense. Yeah, it's like the Olympics couldn't just have them every year.

[Arthur Brooks]

And that's why politicians like to spoil these things too, by the way, because that takes away their power. You know, say something disparaging about one of the players or a narcissistic player, you know, like kneeling during the national anthem or something like this. What they're doing is they're actually trying to take the. They're trying to take the joy away because that's. That's losing power for people that. That like bitterness.

[Becky Quick]

I think Jalen Brunson, he is nice, and it's great that he's nice, but he could be the worst person in the world. But when you're a gamer like that, oh, he's unbelievable. That had nothing to do with him.

[Joe Kernan]

But at the same time, it's like you want your kids to watch him,

[Becky Quick]

look up to him, think of a really bad one of the best. Maybe you're right. Some of them are obnoxious, no matter how good they are.

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Terrible.

[Joe Kernan]

There's some of them. You don't want to see win. Jalen Brunson, you want to see win. You want to see him take it and go with it, because it's such

[Becky Quick]

a. Wemby's got that reputation now in New York.

[Joe Kernan]

Well, watching Wemby with some of these things, the intentional fouls and the mean nastiness isn't just that he's gawky with.

[Becky Quick]

Well, he's 20, long arms. He's from France. We're from France.

[Joe Kernan]

And he got up and he walked out at the end and said, see, I'll never. At the end of the press conference, at the end, Jalen Brunson walked over and shook hands with the spurs coach. That's the first thing he did, even though most of the spurs walked off and didn't even bother to stick around and shake hands with anybody. That's the type of thing in sportsmanship that I would like to see my son and my daughters kind of look up to. And that's who we, who I want you to.

[Becky Quick]

Maybe you're right. I, I, I mean, I need to, to look deep into my soul because I'm excited about Friday's game.

[Arthur Brooks]

Are you?

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I am.

[Arthur Brooks]

See, this is good for you. And, and that. Lean into it. It's soccer. Of course. Lean into it, man. I mean, it's just a beautiful thing. And you know, the USA team doing well against all Australia did bring us together.

[Becky Quick]

Did really well too.

[Joe Kernan]

It was a 4 and 1. Their first game.

[Arthur Brooks]

Huh?

[Joe Kernan]

4 and 1. The first game.

[Arthur Brooks]

4 to 1. I mean, 30 that halftime against Paraguay.

[Becky Quick]

It was against trying a new tech on me now. So I don't listen because. For many reasons. But do you have to go somewhere?

[Arthur Brooks]

To where?

[Becky Quick]

I don't know. They said you have to go.

[Joe Kernan]

You have plans?

[Arthur Brooks]

Do I have to? No, I'm good. I'm, I'm all yours.

[Becky Quick]

Did you, Are you lying?

[Joe Kernan]

I'm all yours.

[Arthur Brooks]

I'm all yours. So they're talking in your ear about you're not out of there.

[Becky Quick]

Who told you?

[Megan Casella]

He.

[Arthur Brooks]

Who told you he has Albert Brooks calling and trying to get me off the show. I know what's going on now.

[Becky Quick]

They're saying. So that's the third. Now a fourth person somewhere told someone somewhere that you to tell them that you need to go.

[Arthur Brooks]

No, I'm good. I am with you because I want to meet your needs. I come here regularly as a form of kind of clinical work.

[Joe Kernan]

We kind of need you here for three hours.

[Podcast Sponsor Announcer]

I love it.

[Joe Kernan]

You do make us feel better about the world.

[Arthur Brooks]

I need someone who I look forward

[Joe Kernan]

to you talking and I look forward to it.

[Becky Quick]

Can you protect my interests and serve my needs? Because that's what I Need.

[Donald Trump]

Yeah.

[Arthur Brooks]

I know I'm doing my best on what I can do, but the truth is life is.

[Becky Quick]

And then repeat step one and two.

[Arthur Brooks]

Yeah. Life is so sweet and life so good. I have to say, there's so much for us to actually be on.

[Becky Quick]

So bad.

[Arthur Brooks]

Yeah. And you know what I'm grateful for? I'm grateful for this show and to be out here with you right now. I get to see you regularly. It makes me happy.

[Joe Kernan]

I'm grateful for you making us feel better every time you're here. You're right. I have completely changed my mind. Sports, Even the Knicks winning can make everybody feel good.

[Arthur Brooks]

It's fantastic. It's a great thing. And go, go, Team USA that's all I can say. Let's bring us together and let's not let the politicians get in our way.

[Becky Quick]

What do you think? I think I was thinking about what really makes. Can make people have an. And I immediately thought of dogs, too.

[Arthur Brooks]

Dogs are the best people ever.

[Becky Quick]

They are.

[Arthur Brooks]

I see you on social media with your. With your. With your German shepherd.

[Becky Quick]

Oh, my God, he's a year old. He's. He's bouncing off the walls. But I mean, this morning, the way he was looking into my eyes, like, I do need to leave, but I would stay because it was so.

[Arthur Brooks]

Oh, yeah. Here's a little science for you about this, because. Are you a dog lover?

[Joe Kernan]

I have a cat, I have a

[Becky Quick]

corgi and another German dog lover.

[Arthur Brooks]

Here's the science that you need. So there's a neuropeptide in the brain called oxytocin. It's the molecule of human bonding. When babies and their mothers lock eyes, it's like the fourth of July. It's evolved so that we can actually bond with each other. When you make eye contact with your dog and pet your dog, your dog gets a 56% bump in oxytocin, meaning that your dog neurochemically actually loves you. Your cat gets a 12% bump, but

[Joe Kernan]

the cat comes and does the bread. You know, like making bread and kneading on it.

[Arthur Brooks]

They just don't get the same. Oxytocin, which means that your dog truly loves you and your cat tolerates you.

[Joe Kernan]

Your cat would eat you if you die.

[Becky Quick]

Basically, that's what I read the other day, that you give, you know, you got a little bit of extra love

[Donald Trump]

to give to a dog.

[Becky Quick]

You have a little bit of extra time to give the dog. You get a little. They have 100%.

[Arthur Brooks]

Oh, yeah.

[Becky Quick]

To give to you. They never. It's Never.

[Joe Kernan]

Why don't you bring your dog to work instead of leaving?

[Becky Quick]

I could bring Saint in. He's. He's so, you know, he's like a. Like a good willing.

[Arthur Brooks]

You want to know how to be more.

[Becky Quick]

I shouldn't say that. If you come to the house, though, you will have hell to pay. No, because now that. No. Now they're trying a new one. Now we have to go, apparently. So it's no longer commercial. That's the latest. Now we have to go. So I don't know whether that includes you, but we do.

[Arthur Brooks]

I love seeing you. Thank you.

[Becky Quick]

Yeah.

[Joe Kernan]

Thank you.

[Arthur Brooks]

Yeah.

[Becky Quick]

See you next time.

[Podcast Sponsor Announcer]

Okay.

[Joe Kernen]

And that is Squawk Pod for today. It is great to be back with you after a little time off. Thanks for listening to this podcast today or any day that you do. Squawk Box is hosted by Joe Kernan, Becky Quick and Andrew Ross Sorkin. Tune in weekday mornings on CNBC at 6 Eastern or get the best of our TV show right into your ears when you follow Squawk Pod. Wherever you get your podcasts, we're on Apple, Spotify, YouTube as well. Have a great day. We'll meet you right back here tomorrow.

[Arthur Brooks]

We are clear. Thanks, guys.

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