David Rubenstein, a product of the old bipartisan D.C., made his fortune in private equity. He’s been spending it on “patriotic philanthropy” and institutions like the Kennedy Center, where Trump fired him as chairman. Now he wonders if the center can hold.

• SOURCES:
  • David Rubenstein, co-founder and co-chairman of the Carlyle Group, principal owner of the Baltimore Orioles.

• RESOURCES:
  • Inside the Owner's Box: Conversations on Power and Leadership in Sports, by David M. Rubenstein (2026).
  • The American Experiment: Dialogues on a Dream, by David M. Rubenstein (2021).
  • The American Story: Conversations With Master Historians, by David M. Rubenstein (2019).
  • Moneyball: The Art of Winning an Unfair Game, by Michael Lewis (2003).

• EXTRAS:
  • "The Merger You Never Knew You Wanted," by Freakonomics Radio (2025).
  • "The Secret Life of a C.E.O.," series by Freakonomics Radio (2018).
  • "Extra: David Rubenstein Full Interview," by Freakonomics Radio (2018).
  • "The Longest Long Shot," by Freakonomics Radio (2016).

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Podcasting started as a niche-nerd pursuit. Now it’s a $9 billion industry. Is that a lot? The strange economics of this thing we do.

• SOURCES:
  • Jim Bankoff, chairman and C.E.O. of Vox Media.
  • Ben Davis, head of digital at WME.
  • Will Page, former chief economist at Spotify and author of Pivot.
  • Jenna Weiss-Berman, head of Paper Kite Audio and executive producer of Good Hang with Amy Poehler.
  • Jeanine Wright, co-founder and C.E.O. of Liquid Studios (Inception Point AI).

• RESOURCES:
  • "U.S. AI infrastructure buildout is surpassing every prior investment in American history," by Cris Tolomia (Quartz, 2026).
  • "The AMP Accords," (Alliance for Measurement in Podcasting, 2026).
  • "Owl & Co: Global Podcast Economy Grew 23% To $9.2 Billion In 2025." (Inside Radio, 2026).
  • "James Murdoch to Buy New York Magazine, Other Vox Assets for Around $300 Million," by Isabella Simonetti and Jessica Toonkel (The Wall Street Journal, 2026).
  • "Patreon Says Podcasters Earned $629 Million in 2025, Up 33%, as Platform's Biggest Content Category Keeps Growing," by Todd Spangler (Variety, 2026).

• EXTRAS:
  • "How to Think About A.I.," series by Freakonomics Radio (2023).
  • "How Spotify Saved the Music Industry (But Not Necessarily Musicians)," by Freakonomics Radio (2019).
  • "Our 100th Episode!" by Freakonomics Radio (2012).

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An economist calls America’s beef industry a “miracle.” An antitrust scholar calls it “broken.” Maybe they’re both right?

• SOURCES:
  • Austin Frerick, agriculture antitrust expert, fellow at Yale University, author of Barons: Money, Power, and the Corruption of America's Food Industry.
  • Robert Hodgen, C.E.O. of King Ranch.
  • Roger Horowitz, food historian, director of the Center for the History of Business, Technology, and Society at the Hagley Museum and Library.
  • Derrell Peel, Charles Breedlove Professorship of Agribusiness in the department of agricultural economics at Oklahoma State University.

• RESOURCES:
  • "The hamburger story," by Derrell Peel (Beef, 2026).
  • "Trump is letting in 300,000 tons of beef duty-free. Don’t expect cheaper burgers," by Elisabeth Buchwald (CNN, 2026).
  • "DOJ Probes Soaring Beef Prices at Eight Major Stores Including Walmart," by Hugh Cameron (Newsweek, 2026).
  • "Takeaways from the Pause on Foreign Corrupt Practices Act Enforcement," by Brendan Quigley, Bridget Moore, Kyle Clark, and Baker Botts (Harvard Law School, 2025).
  • "Tyson and Leviathan: USDA Rulemaking and the PSA Harm to Competition Requirement," by Spencer James Parts (University of Chicago Business Review, 2022).
  • "Average Price: All Uncooked Ground Beef (Cost per Pound/453.6 Grams) in U.S. City Average," (Federal Reserve Bank of St. Louis).

• EXTRAS:
  • "An Economics Lesson from a Talking Pencil (Update)," by Freakonomics Radio (2025).
  • "The Future of Meat," by Freakonomics Radio (2019).

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