Business and policy leaders from around the world joined us at our annual newsmaking event last Wednesday. Here’s what happened.
Sam Bankman-Fried spoke about the collapse of FTX. In his first live interview since FTX filed for bankruptcy, the former C.E.O. of the cryptocurrency exchange repeatedly said he had not known the extent of its financial troubles and had not knowingly committed fraud or commingled funds. Bankman-Fried blamed the collapse on a “massive failure of oversight and said he was “deeply sorry for what happened.” Read the full transcript, and watch the video here.
Janet Yellen called the FTX collapse a “Lehman moment.” The treasury secretary said that even before the debacle, it was clear that the cryptocurrency industry did not have adequate regulation. Watch the video here.
Larry Fink said most crypto start-ups would fail. The BlackRock chief executive, who has long been a skeptic of crypto, placed part of the blame for the FTX failure on the venture capitalists who funded it with little due diligence, a model he said should change. Watch the video here.
President Volodymyr Zelensky of Ukraine rebuked Elon Musk’s peace proposal. He invited the billionaire to visit Ukraine before making pronouncements about how to end the war there. Zelensky also said that he didn’t think there was an immediate threat that Russia would use nuclear weapons. Watch the video here.
Mark Zuckerberg discussed the Metaverse and the Apple app store. The chief executive of Meta responded to criticism over his large investment in the Metaverse, saying that it would pan out in the long term and that augmented reality and virtual reality technology accounted for about 20 percent of Meta’s investment. Zuckerberg also said that the marketplace dominance of the Apple app store was “not good.” Watch the video here.
Benjamin Netanyahu said Donald Trump should not have had dinner with Kanye West. “It was wrong,” he told Andrew of Trump’s meeting with West and Nick Fuentes, an antisemitic extremist. Watch the video here.
Shou Chew said TikTok could resolve national security concerns over its Chinese ownership. He discussed the company’s plans to move the data of U.S. users to cloud infrastructure owned by the American company Oracle. Chew, TikTok’s C.E.O., also said it was still too early to make a big investment in the Metaverse. Watch the video here.
Andy Jassy addressed labor and layoffs. The Amazon chief executive said uncertainty in the economy had led to the decision to lay off what could end up being more than 10,000 corporate and technology workers. He also indicated that Amazon would challenge the March election in Staten Island in which employees voted to form the first union at an Amazon warehouse in the United States. Watch the video here.
Reed Hastings expressed love for Elon Musk and Wordle. Hastings, a co-C.E.O. of Netflix, called Musk “the most brave and creative person on the planet” and said he regretted not acquiring Wordle. Hastings also said Netflix was late in offering an ad-supported subscription tier. Watch the video here.
Ben Affleck made the case for a creator-led studio. The actor’s new movie studio aims to give Hollywood stars, directors, editors and other creative people a share of the profits — and more control in the work. Watch the video here.
Priscilla Sims Brown explained how finance could help combat gun violence. She is the president and chief executive of Amalgamated Bank, which played a key role in creating a new merchant category code for gun sales that makes it easier to identify illegal activity. Watch the video here.
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