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Billionaire financiers such as Ken Griffin pioneered what’s known as the multi-manager model for hedge funds, where big spending begets big returns. In 2022, Griffin’s Citadel became the best-performing hedge fund of all time. But now, cracks in the sector are beginning to form. The FT’s Harriet Agnew and Ortenca Aliaj examine what a downturn could mean for investors and the broader financial sector.  Plus, do you have a question about markets, finance or economics? Get in touch with Michela, and we may use it in an upcoming joint show with Unhedged.  Email Michela at michela.tindera@ft.com, or message her on X at @mtindera07. - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading: Are hedge fund pioneers facing the end of a golden era?  Bobby Jain’s hedge fund launch falls short of $8bn-$10bn target How Ken Griffin rebuilt Citadel’s ramparts  - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Harriet Agnew (@HarrietAgnew), Ortenca Aliaj (@OrtencaAl) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

A Delaware court recently struck down Elon Musk’s $56 billion Tesla pay package. Soon after, Musk took to his social network X and offered some advice: “Never incorporate your company in the state of Delaware.” But will anyone take it? The FT’s Wall Street editor Sujeet Indap explains how Delaware became the favourite place for big companies to incorporate and why that’s unlikely to change.  Clips from BBC, WFAA - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading: Can Elon Musk derail Delaware? Texas is throwing down a legal challenge to Delaware Delaware versus Elon Musk - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Sujeet Indap (@sindap) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Baidu made it big as China’s go-to search engine. But in the past decade the tech giant has struggled, while competitors such as Alibaba and Tencent have soared ahead. The FT’s China tech correspondent Ryan McMorrow looks at chief executive Robin Li’s latest venture, in artificial intelligence, and whether this will be enough to turn the company around.   - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading: Baidu’s bet on AI could make or break China’s fallen tech group Tightened US rules throttle Alibaba and Baidu’s AI chip development Baidu shares fall after Ernie AI chatbot demo disappoints - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Ryan McMorrow (@rwmcmorrow) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

The nuclear power industry is receiving a lot of attention recently thanks in part to new technological advancements. That’s excited venture capital groups and private investors, such as Bill Gates and OpenAI’s Sam Altman. But the industry is also known for its boom-and-bust cycles. The FT’s US energy editor Jamie Smyth explains there are many challenges that lie ahead for an industry, which has long been plagued by controversy.    - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading: The US plan to break Russia’s grip on nuclear fuel US nuclear start-ups battle funding challenge in race to curb emissions Nuclear fission start-up backed by Sam Altman to go public - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Jamie Smyth (@JamieSmythF) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

If you have questions about this year's US presidential election, we have answers. Swamp Notes is a new podcast from the FT News Briefing. Listen every Saturday morning as our journalists analyse and discuss the latest happenings in US politics. We’ll go beyond the horse race for the White House and offer a global perspective on the election.   You can subscribe to Swamp Notes here or wherever you get your podcasts. Hosted on Acast. See acast.com/privacy for more information.

BlackRock chief executive Larry Fink has been on the hunt for the money manager’s next “transformational” deal. Earlier this month, Fink revealed that he had finally found it with the acquisition of a private capital firm, Global Infrastructure Partners. The FT’s US financial editor Brooke Masters and US private capital correspondent Antoine Gara explain why BlackRock wanted GIP, and how this deal sets the agenda for Wall Street this year.  Clips from CNBC  - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading: How the $12.5bn BlackRock-GIP deal is set to shake up investment management How Adebayo Ogunlesi’s contrarian bet led to $12.5bn BlackRock tie-up  Infrastructure funds draw billions of dollars as energy and supply chains shift - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Antoine Gara (@AntoineGara), Brooke Masters (@brookeamasters) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

In Silicon Valley, the promise of a massive payday for a start-up’s early employees and investors has hinged on those companies eventually going public or being sold off. But with the slowdown in initial public offerings and acquisitions, a different marketplace is set to heat up this year. It is called the venture secondary market, and it’s where both investors and early employees can trade their stakes in privately-held companies. The FT’s venture capital correspondent George Hammond explains the potential pitfalls of this opaque marketplace and why investors will be rushing to it in 2024.      - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading: Investors raise billions to buy discounted stakes in start-ups Carta customers say platform tried to trade their shares without consent Carta shuts trading platform after data privacy breach allegations Staying private: the booming market for shares in the hottest start-ups - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow George Hammond (@GeorgeNHammond) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Introducing Untold, a new podcast from the special investigations team at the Financial Times. In its first series, The Retreat, host Madison Marriage examines the world of the Goenka network, which promotes a type of intensive meditation known as Vipassana. Thousands of people go on Goenka retreats every year. People rave about them. But some people go to these meditation retreats, and they suffer. They might feel a deep sense of terror, or a break with reality. And on the other side, they’re not themselves anymore. Untold: The Retreat launches Jan. 24. Subscribe and listen on: Apple Podcasts, Spotify or wherever you get your podcasts. Hosted on Acast. See acast.com/privacy for more information.

The runaway success of diabetes and weight-loss drugs Ozempic and Wegovy have turned their maker, Novo Nordisk, into a juggernaut. Last year the Danish drugmaker claimed the title of Europe’s most valuable company. But the development of these drugs was a long, uphill battle.The FT’s global pharmaceutical editor Hannah Kuchler explains how the company’s unique ownership structure played a critical role in the company’s achievements and looks at the challenges ahead.   Clips from CNBC, CBS, Reuters - - - - - - - - - - - - - - - - - - - - - - - - - -  Subscribe and listen to Untold: The Retreat on Apple Podcasts, Spotify or wherever you get your podcasts. - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading: FT Person of the Year: Lars Fruergaard Jørgensen of Novo Nordisk How anti-obesity drugs built the world’s largest charitable foundation Obesity drugs: broadly good for investors, with some strictures Covid-19 vaccine winners suffer reversal of fortune - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Hannah Kuchler (@hannahkuchler) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

You asked us questions, we’ve got your answers. FT columnists and editors such as Martin Wolf and Robert Armstrong respond to listener questions about everything from finance to markets to the economy. - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading: Five questions for 2024 The region at the heart of Germany’s economic stagnation FT writers’ predictions for the world in 2024 Overheard in the newsroom: what does the next year hold? - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Martin Wolf (@martinwolf), Rob Armstrong (@rbrtrmstrng), Robin Wigglesworth (@RobinWigg), Colby Smith (@colbyLsmith) and Guy Chazan (@GuyChazan)  Want to see Behind the Money cover a certain topic? Send your thoughts to Michela Tindera on X (@mtindera07), LinkedIn or via email: michela.tindera@ft.com.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Who runs the world? Political scientist Ian Bremmer argues it’s not as simple as it used to be. With some eye-opening questions about the nature of influence, he asks us to consider the impact of the evolving global order — and our choices as participants in the future of democracy. This is an episode from TED Talks Daily. Every weekday, TED Talks Daily goes beyond the headlines and explores a new idea shaping the future in 20 minutes or less. Join host and journalist Elise Hu and hear thought-provoking TED talks on every subject imaginable – from AI to zoology. You can find TED Talks Daily wherever you listen to podcasts. Hosted on Acast. See acast.com/privacy for more information.

Every year, the Financial Times selects the most outstanding business book of the year. For 2023, the top pick is a book about failure. The FT’s senior business writer Andrew Hill sits down with the winner, Amy Edmondson, the author of Right Kind of Wrong and “the world’s most influential organisational psychologist”. Edmondson’s book explores the value in failure, what we can learn from it and what’s wrong with Silicon Valley’s “fail fast, fail often” mantra. - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading and listening: Working It podcast: What was the best business book of 2023? Psychological safety: the art of encouraging teams to be open FT and Schroders Business Book of the Year 2023 - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Andrew Hill (@andrewtghill) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.