WSJ What’s News – Episode Summary
Podcast: WSJ What’s News
Date: October 21, 2025
Main Theme:
This episode provides a rapid-fire overview of major current events with a special focus on emerging anti-drone technologies as Europe faces a mounting threat from hostile drones. It also explores the challenge luxury brands face as the booming secondhand market diverts young shoppers from buying new.
Top Headlines and Segments
U.S. Politics: White House Renovations and Visa Policy Changes
- President Trump’s White House Ballroom:
- President Trump is demolishing part of the White House’s East Wing to build a $250 million ballroom, considering it a key part of his legacy.
- Treasury employees have been told not to share photos after images of the demolition went viral.
- Trump’s previous renovations include redecoration of several prominent White House spaces.
- H1B Visa Policy:
- The newly announced $100,000 H1B visa fee will only apply to applicants outside the U.S.
- Employers must pay the fee once a new hire’s visa is approved.
- Most H1B visas are issued to immigrants already in the U.S. on another visa type.
Financial News: Argentina Bailout
- The U.S. Treasury is working on a $40 billion aid package for Argentina, including a $20 billion private loan facility.
- Major banks like JPMorgan Chase and Citigroup are wary of exposure, given Argentina’s history of defaults.
- Key Quote:
- “Their main concern is obviously getting paid back. $20 billion is a large loan. And Argentina has a long history of being a serial defaulter. They've defaulted nine times on their debt in the past.”
— Chelsea Delaney (02:47)
- “Their main concern is obviously getting paid back. $20 billion is a large loan. And Argentina has a long history of being a serial defaulter. They've defaulted nine times on their debt in the past.”
- Banks are seeking collateral or Treasury backstop guarantees.
Global Politics: Japan’s First Female PM and Ukraine War
- Japan:
- Sanae Takaichi becomes Japan’s first female prime minister, advocating closer U.S. ties and stronger military policies.
- Seen as a conservative with “an ideological affinity with Trump.”
- Upcoming Trump visit to Japan expected.
- Quote:
- "She's a Japanese nationalist. She was a close ally of the late Shinzo Abe... She's a hawk on China."
— Jason Douglas (04:15)
- "She's a Japanese nationalist. She was a close ally of the late Shinzo Abe... She's a hawk on China."
- Russia-Ukraine War:
- Trump expresses skepticism about Ukraine’s chances of victory and emphasizes the need for a quick settlement, regardless of territorial concessions.
- Quote:
- “They could still win it. I don't think they will, but they could still win it. I never said they would win it. I said they could win. Anything can happen. You know, war is a very strange thing.”
— Donald Trump (05:07)
- “They could still win it. I don't think they will, but they could still win it. I never said they would win it. I said they could win. Anything can happen. You know, war is a very strange thing.”
- Trump not prioritizing the return of Donbass, disappointing Ukrainian and European leaders.
- Putin and Trump plan to meet for peace talks; date TBD.
Deep Dive: The Tech Wizardry Needed to Stop Drones
(Main segment: 06:53 – 11:30)
The Urgency of Anti-Drone Technology
- Drones are appearing over airports, cities, and military bases throughout Europe, not just in war zones.
- Quote:
- “This is very urgent because unlike some security concerns that are in the future or potential, this is happening now.”
— Dan Michaels, Brussels bureau chief (07:32)
- “This is very urgent because unlike some security concerns that are in the future or potential, this is happening now.”
Why Intercepting Drones Is Hard
- Drones differ from missiles: they're small, unpredictable, and can change direction rapidly.
- Patriot missile systems (effective against linear-moving missiles) are ill-suited.
- Quote:
- “…even the best computer... isn't going to know what a drone is going to do three seconds later.”
— Dan Michaels (08:11)
- “…even the best computer... isn't going to know what a drone is going to do three seconds later.”
Current Anti-Drone Tech
-
Layered Defense Approaches:
- Detection systems and devices similar to small missiles.
- Longer-range “hunter” drones that intercept hostile drones.
- Surface-to-air missiles designed to explode near targets.
- Capture nets that physically snag drones—but require precise targeting.
-
Collateral Damage Concerns: Destroyed drones or countermeasures could still cause harm on the ground.
-
Notable Moment:
- “One system that a colleague of mine saw tested shoots a net to grab a drone and then land with it. The problem is... you have to know exactly where the target is.”
— Dan Michaels (09:03)
- “One system that a colleague of mine saw tested shoots a net to grab a drone and then land with it. The problem is... you have to know exactly where the target is.”
Learning from Ukraine
- Ukraine’s experience with thousands of Russian drones sends valuable lessons to NATO.
- NATO has established a learning office in Poland; Ukraine collaborates with Western European countries.
- UK now manufacturing Ukrainian-designed drone interceptors to ship back to Ukraine.
- Quote:
- “So this is becoming a two way street on defense technology as the dangers that Ukraine has faced for a while are now spreading to the West.”
— Dan Michaels (10:29)
- “So this is becoming a two way street on defense technology as the dangers that Ukraine has faced for a while are now spreading to the West.”
Luxury Market: Secondhand Boom Threatens Brands
(11:37 – 13:14)
- Sales of new luxury goods are slumping; Gen Z and Millennials are shifting to resale platforms.
- Resale luxury market estimated at $55 billion, growing 10% annually.
- Shoppers seek bargains amid economic uncertainty and previous pandemic price hikes by brands.
- Quote:
- “The problem is a lot of these shoppers have gone over to secondhand now. And last year there was around $55 billion worth of secondhand luxury goods sold.”
— Carol Ryan (12:01)
- “The problem is a lot of these shoppers have gone over to secondhand now. And last year there was around $55 billion worth of secondhand luxury goods sold.”
- Brand Response:
- Brands increasingly study resale data to spot trends—reissuing popular vintage designs (e.g., Chloe Paddington, Balenciaga City).
- Quote:
- “The data in the resale market can also be goldust for the luxury brands.”
— Carol Ryan (12:49)
- “The data in the resale market can also be goldust for the luxury brands.”
Episode Timeline
- 00:19 – 03:46: Major U.S. and financial headlines (Visa fee, White House, Argentina bailout)
- 04:08 – 05:58: Japan’s new prime minister and Trump’s stance on Ukraine
- 06:53 – 11:30: In-depth: Europe’s urgent search for anti-drone solutions (with Dan Michaels)
- 11:37 – 13:14: The secondhand luxury boom and challenges to top brands
Memorable Quotes
- Chelsea Delaney:
- "Their main concern is obviously getting paid back. $20 billion is a large loan. And Argentina has a long history of being a serial defaulter." (02:47)
- Jason Douglas on Takaichi:
- "She has something of an ideological affinity with Trump. So one of the things people are watching closely in Tokyo is how well she will get on with the US." (04:15)
- President Trump:
- “They could still win it. I don't think they will, but they could still win it...” (05:07)
- Dan Michaels:
- “This is very urgent because unlike some security concerns that are in the future or potential, this is happening now.” (07:32)
- Carol Ryan:
- “The data in the resale market can also be goldust for the luxury brands.” (12:49)
Summary
This episode succinctly covered the latest business and political developments, with a special report on the technological and strategic race to counteract drone threats in Europe. Interviews and commentary highlighted not just the challenges of stopping drones, but the cross-pollination of defense tactics between Ukraine and NATO. The episode also touched on broader economic trends—from government aid to Argentina to the shifting landscape of the luxury retail market as secondhand sales surge.