NBC Paris Olympic Opening in IMAX, U.S. Chips Act pumps Billions into manufacturing, and Adam Neumann wants to buy back WeWork - #21

Welcome to Episode 21 of the irl Media NEWS Podcast. I'm your host Chris Thompson, and today we discuss how NBC is showing the Paris Olympic Opening Ceremonies in IMAX theaters, the U.S. Chips Act is pumping billions to chip manufacturing in America, Social Media companies are distancing their platforms from politics, Adam Neumann is trying to buy back WeWork, and the world's largest private plane is built for royalty literally.

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Chris Thompson
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Transcript

Welcome to Episode 21 of the irl Media NEWS Podcast. I'm your host Chris Thompson, and today we discuss how NBC is showing the Paris Olympic Opening Ceremonies in IMAX theaters, the U.S. Chips Act is pumping billions to chip manufacturing in America, Social Media companies are distancing their platforms from politics, Adam Neumann is trying to buy back WeWork, and the world's largest private plane is built for royalty literally.

All that and more in today's episode of the irl Media NEWS Podcast. Let’s get into it.

Business

The U.S. is making a big bet on America’s chip industry. The Biden administration has brokered a deal with Intel, funneling a whopping $8.5 billion in direct funding and $11 billion in loans towards computer chip plants across four key states: Arizona, Ohio, New Mexico, and Oregon.

This move underscores the administration’s push to bolster domestic chip production, a move seen as crucial for national security and economic stability. With the U.S. currently producing zero of the most advanced AI chips, Commerce Secretary Gina Raimondo spoke about how urgent the need is to invest in advanced semiconductor manufacturing in the U.S., saying “We can’t just design chips. We have to make them in America.”

The Intel investment is not just about creating jobs; it’s also about geopolitics. Lawmakers have expressed concerns about China’s dominance in chip production, with the majority of advanced chips originating from Taiwan. The bipartisan CHIPS and Science Act, passed in 2022 with Biden’s backing, aims to reduce dependency on Asian-made chips, mitigating risks to the U.S. economy.

The impact of this investment is expected to be significant. Intel CEO Pat Gelsinger sees it as a pivotal moment, likening the CHIPS Act to the most critical industrial policy since World War II. The funding is projected to create 30,000 jobs in manufacturing and construction, a boon for states like New York and Ohio.

This deal is also a reflection on the broader economic priorities in the U.S.. The Biden administration has emphasized workforce training and affordable childcare as key components of agreements with companies like Intel. This signals a broader commitment to inclusive growth, ensuring that economic benefits reach communities across the nation.

This investment isn’t just about chips - it’s about shaping the future of American industry and securing its place on the global stage. From manufacturing to geopolitics to social policy, this deal touches on a multitude of issues critical to the nation’s economic prosperity.

And in the high-stakes game of global competition, every chip counts.

Social Media

So that company behind Instagram, Facebook, and WhatsApp, otherwise known to the world as Meta, has made a big move.

They're putting the brakes on political content.

Reactions to this are all over the map. Some folks are saying it's about time, but others are worried. They're concerned this could stifle important conversations about social and political issues.

Creators, in particular, are feeling the heat. They're wondering how these changes will affect their reach and engagement, especially if they rely on Instagram to discuss these topics.

This decision really brings into focus the ongoing debate about how much control social media companies should have over what we see and talk about online.

As a new content creator who “tries” to be as active as I can in the conversations on social media, I know how hard it is to walk the fine line between covering the business behind the news and not wading too deep into politics. That said, I’m divided on what role social media companies should play in policing their platforms and filter political news.

I couldn’t be more laissez faire when it comes to the government’s involvement in business, so I’ll stick to my values and what my moral compass is telling me is right when I post my content to social media.

Entertainment

For the upcoming Paris Olympics NBC Sports has announced it plans to broadcast the opening ceremony on the larger than life IMAX screens, marking it the first major network to offer such an immersive viewing experience of the Olympics.

This decision by NBC Sports reflects a growing trend in sports broadcasting to enhance the viewer experience through cutting-edge technology.

By leveraging IMAX technology, NBC aims to attract viewers who crave a more immersive and cinematic experience, potentially expanding the reach of Olympic coverage beyond traditional television audiences.

I feel like this innovative approach will not just make for a better viewing experience, but also serve as a new viewing opportunity for sports fans in  the ongoing evolution of sports broadcasting in the digital age.

Real Estate

In what can only be described as a plot twist worthy of a soap opera, former WeWork CEO Adam Neumann has thrown his hat back into the ring with a bid of $500 million dollars to reclaim the throne of the company he once co-founded.

Because, you know, once you've been ousted in a blaze of glory, why not try to stage a comeback?

Adam Neumann's audacious move comes after his dramatic exit from WeWork back in 2019, when the company's IPO dreams went up in flames faster than you can say "overvalued."

But hey, who needs a successful IPO when you can just come back and buy the whole darn company, right?

Now, you might think that after all the legal battles and public scrutiny that followed his departure, Adam Neumann would want to lay low for a while, right?

Nope!

Adam Neumann is back and apparently ready to reclaim his self proclaimed rightful place at the helm of the co-working behemoth WeWork.

Of course, Neumann's bid is already facing some skepticism. I mean, why would anyone question the leadership abilities of a guy whose tenure at WeWork was practically a masterclass in corporate chaos and how not to go about an IPO?

As Adam Neumann tries to convince current stakeholders that he's the right man to lead WeWork into the future, one can't help but wonder: Is this just the latest episode in the ongoing soap opera that is the WeWork saga? Or is Adam Neumann actually serious about redeeming himself and turning the company around?

Either way, it's clear that the WeWork rollercoaster is far from over. So buckle up, folks, because it looks like we're in for another wild Adam Neumann ride.

Airplanes

So there's this new private jet, but it’s not just a normal private plane; we're talking about the world's largest private plane, and if you have to ask how much it costs then you can’t afford it.

It's got everything you'd expect from a flying palace: bedrooms, lounges, even a dining room. 

And did I mention the Turkish bath? Yeah, it's got that too. 

The interior is like something out of a billionaire's dreams, with top-notch materials and high-tech gadgets everywhere you look. Basically, it's luxury on steroids, redefining the whole idea of flying in style for those who've got the cash to spare. 

So if you’ve ever wondered what it's like to live like royalty in the sky, this jet pretty much sums it up, except don’t even think of ever flying on the world's largest private plane unless you are royalty!

That's it for our show today. We really appreciate you sticking around to the end. 

If you don’t want to miss an episode please consider subscribing and following us wherever you get your podcasts from, so we can continue to bring you the business behind the news. 

I’m your host Chris Thompson, and this has been an irl Media NEWS Podcast.