Musk’s bombshell warning to advertisers and other summit highlights

“Is that clear?”

Andreas here. Yes, I was surprised by what Elon Musk said at the DealBook Summit on Wednesday – you can tell by the moment from our conversation where he left me temporarily speechless. But I would encourage everyone to watch the entire interview because we covered so much more than that.

At Wednesday’s DealBook Summit, few could have predicted what Elon Musk — whose SpaceX, Tesla and X are among the most consequential and high-profile companies in the world — would say. And the famously talkative billionaire did what he did.

Yes, there was a moment when Musk used profane language to denounce companies that had suspended advertising on X after endorsing an anti-Semitic conspiracy theory. (He did try to clear the air, saying he didn’t mean to support bigots. “I’m very sorry” if he had encouraged them, he said.)

But during the 90-minute conversation, Musk touched on much more, including what makes him tick, his fears about artificial intelligence and more.

• “Don’t advertise.” Musk accused advertisers of trying to “blackmail” him over his comments. (Bob Iger, Disney’s CEO, had previously said that the association with you’re in trouble, the public.” Linda YaccarinoThe CEO of X, who Musk hired to win back advertisers (and who attended the summit), later posted a more conciliatory message.

• “Do you want the best car, or don’t you want the best car?” Whether people love Musk or hate him, the mogul boasted about the capabilities of Tesla vehicles and SpaceX rockets.

• “A Philosophy of Curiosity.” Pressed by what drives him, Musk became contemplative and spoke at length about a troubled childhood and how he struggled with an existential crisis he first felt at age 12. His answer: Make sure humanity reaches the stars and settles other planets, hence his work at RuimteX. “If you are a civilization with one planet,” he said, “something will happen to that planet and you will die.”

• “I’m quite concerned that they have discovered a dangerous element of AI.” Asked about the recent leadership change at OpenAI, which he co-founded before leaving in 2019, Musk said he was concerned about the speed at which it had boosted innovation. He predicted that in less than three years, technology could reach the point where it could solve problems like the human brain – so-called artificial general intelligence. (Jensen Huang, the CEO of AI chipmaker Nvidia, estimated that this milestone would take at least a decade.)

• “I don’t think I would vote for it [President] Biden.” Musk, who has become politically conservative in recent years, criticized the president for snubring Tesla in the company’s green energy initiatives despite its leadership in electric vehicles. The billionaire also said that liberals these days tend to embrace censorship, anathema to the self-proclaimed “absolutist” freedom of expression. But when asked whether he would then vote for Donald Trump, Biden’s likely Republican opponent, Musk demurred, saying only: “This is definitely a tough choice.”

Watch the entire interviewand everything the othershere… and read the full coverage here.

HERE’S WHAT’S HAPPENING

Henry Kissinger dies at age 100. One of America’s most powerful diplomats in recent history, he helped reshape the world order during the Cold War, including by normalizing U.S. relations with China, brokering détente with the Soviet Union, and negotiating the end of the war in Vietnam. Kissinger was alternately praised for his achievements and excoriated for an approach that abandoned American values ​​when deemed necessary.

The UAW unveils its plan to organize non-union automakers. The United Automobile Workers union said it is seeking potential union recruits from more than a dozen companies, including Tesla, Toyota and Volkswagen, which together employ more than 150,000 workers. In addition, GM will make cuts at its Cruise subsidiary after halting operations there due to safety concerns about its autonomous vehicles.

Disney adds two directors as activist investor circle. James Gorman, the outgoing CEO of Morgan Stanley, and Jeremy Darroch, the former head of British media company Sky, are joining Disney’s board ahead of an expected fight with financier Nelson Peltz. Disney said Gorman would help with CEO succession planning, a concern of Peltz.

Kamala Harris: “If I had listened to the polls, I would never have run for my first or second office, and here I am as vice president.”

The deputy director conceded that the White House had “work to do” to convince voters before next year’s election that Bidenomics works for them, but dismissed polls showing the Biden-Harris ticket trailing Trump in swing states. Harris pointed to the strong labor market and economic growth that outpaced most trading partners. Revised GDP figures released on Wednesday showed the US economy was growing Last quarter 5.2 percent — but she noted that persistently high inflation was weighing on American families. She also hit back at concerns about Biden’s age.

Jamie Dimon: “If you are a very liberal Democrat, I urge you to help Nikki Haley too. Give them a choice on the Republican side that might be better than Trump’s.”

CEO of JPMorgan Chase expressed his appreciation for Haley, the Republican presidential candidate who has risen in the polls in recent weeks. When asked about the two frontrunners, Biden and Trump, Dimon remarked, “Oh god,” prompting an awkward laugh from the audience. He also addressed the politics surrounding so-called ESG investing, vowing to “pull back” on Texas’ efforts in 2021 to limit the state’s activities with financial companies that embrace environmental, social and governance policies.

Tsai Ing-wen: “My thought is that this may not be the time to consider a major invasion of Taiwan.”

Taiwanese president The chances of China invading the island anytime soon were downplayed, saying Beijing was focusing on domestic economic and political issues. “I think the Chinese leadership is overwhelmed by the internal challenges right now,” she said. Tsai also addressed the chip war, saying U.S. efforts to strengthen the semiconductor sector would not harm Taiwan’s leading position in the sector.

Jensen Huang: “We are somewhere between ten and twenty years away from supply chain independence.”

The Nvidia chief said the United States would remain dependent on overseas suppliers, especially Taiwan, for some key chip components for years to come, even as billions were poured into domestic production of this vital computing equipment.

Bob Iger: “I didn’t say they were for sale.”

The Disney CEO spoke about the challenge facing the media giant, from streaming to politics and activist investors. But Iger denied he would sell the company’s traditional television assets such as the ABC network after suggesting he would consider doing so in July. He also addressed the company’s recent box office woes, which some critics attributed to audiences growing tired of superhero sequels. He defended making the films, but added that “there has to be a good reason to make them.”

David Zaslav: “The disruption of this company right now is harder and faster than we could ever have imagined.”

The CEO of Warner Bros. Discovery was behind the unpopular actions he has taken at the media company, including a shake-up at CNN, firing his friends, shelving productions like the movie “Batgirl” for tax write-offs, and months of battling Hollywood writers and – actors in two of the industry’s longest strikes.

Isaac Herzog: “To change the equation in the Middle East and change the divisions and horizons in the Middle East toward a vision of peace, we must uproot this terror machine..”

The president of Israel defended the country’s military response to the October 7 Hamas attack that left thousands dead in Gaza. He argued that eradicating organizations like Hamas and Hezbollah would make the world a safer place.

Lina Khan: “I think success for us looks like making sure the public knows the FTC is in their corner and fighting for them against illegal trade.”

The FTC Chairman, an outspoken proponent of a more assertive approach to antitrust enforcement, said the agency must be willing to take more risks — even if it means losing business — if it wants to fulfill its mission to level the playing field for businesses and consumers in America. . Her critics have pointed to recent legal losses, including a legal challenge to Microsoft’s acquisition of Activision Blizzard, as a sign that her approach wasn’t working.

Kevin McCarthy: “The House is like having breakfast at a truck stop.”

The Republican from California and former Speaker of the House of Representatives, who was removed from office in October, has not yet decided whether he will run for re-election, adding that it will be “a gut feeling.” (The deadline for submitting the necessary paperwork is December 8.) McCarthy discussed the tension among members of his own party and the likely presidential rematch between Biden and Trump. He offered only lukewarm support for Trump.

Jay Monahan: “I came home and to my wife’s surprise I said, ‘Honey, I need help.’”

The PGA Tour Commissioner gave his first in-depth public explanation of his mental health struggles following the group’s controversial decision to strike a preliminary deal with Saudi-backed rival LIV Golf this year. He also doubled down on his position that finding an agreement was necessary for the sport, noting that he would meet next week with Yasir al-Rumayyan, head of the Saudi sovereign wealth fund.

Shonda Rhimes: “I don’t watch TV, and I know that sounds crazy.”

The productive one producer and writer behind hits like “Grey’s Anatomy” and “Bridgerton,” said that taping even great shows could “contaminate” her own work, and that she has watched and read a lot of documentaries. Rhimes also commented on the Writer’s Guild of America strike (she is both a writer and CEO of Shondaland, a production company). It “wasn’t complicated at all,” she said, adding, “I consider myself a writer first and foremost.”

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