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   DealBook: My interviews with Brian Armstrong, Larry Fink and Mary Barra
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             December 17, 2025
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          Good afternoon. Andrew here.
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          At the 2025 DealBook Summit, I sat down with two of the most important C.E.O.s in today’s shifting investment landscape: Larry Fink of BlackRock and Brian Armstrong of Coinbase. I also had a fascinating conversation with one of the top leaders in the auto industry, Mary Barra, the C.E.O. of G.M. Below, we have some highlights from those two conversations.
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          Over the coming days, we’ll be sending you emails with excerpts and takeaways from all of the interviews and task force panels at this year’s DealBook Summit. You can also watch all of them on
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          YouTube
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          or listen to them as
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          podcasts
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          .
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          (Was this newsletter forwarded to you?
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             Brian Armstrong, the C.E.O. of Coinbase, and Larry Fink, the C.E.O. of BlackRock, at the DealBook Summit.
            </span>
            <span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em">
             Karsten Moran for The New York Times
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        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          What Brian Armstrong and Larry Fink said at the DealBook Summit
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Brian Armstrong co-founded Coinbase in 2012, and today it is the largest cryptocurrency exchange in the United States. Larry Fink co-founded BlackRock in 1988, and today it’s the world’s largest asset manager, overseeing $13.5 trillion.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          During an interview at the DealBook Summit, the chief executives discussed
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          what’s next for crypto and the broader outlook for investors
         </a>
         <span>
          in a rapidly shifting market.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The below highlight from the conversation has been condensed and edited for clarity.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Andrew:
         </span>
         <span>
          You historically over the years did not agree with each other, at all, about this world of crypto. You [Brian] obviously were a proponent from the beginning. Larry, you were, though, on the other end of it. You famously in 2017 called crypto an index for money laundering.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Larry Fink:
         </span>
         <span>
          And thieves.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Andrew:
         </span>
         <span>
          And thieves. Money laundering and thieves. You now have the biggest Bitcoin E.T.F. So what happened here?
         </span>
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          WATCH:
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Brian Armstrong and Larry Fink Are Not Worried About Another Crypto Winter
         </a>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          LISTEN:
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          The Leaders of Coinbase and BlackRock Discuss Their Optimistic Vision for the Future of Crypto
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        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Fink:
         </span>
         <span>
          You’ve got to evolve and change. During Covid, when we had a little more time on our hands, I took it upon myself to visit and talk to a lot of people who are advocates of it. I wanted to understand, What am I missing? So around 2021, 2022, I began to evolve those views. And those statements were not about crypto; those statements were specifically about Bitcoin. But I see a big, large use case for Bitcoin, and I still do today. I have very strong views, but that doesn’t mean I’m not wrong. But by having strong views, you have to test yourself and ask yourself. And you know, in my role I see thousands of clients a year, and we have these conversations. And this is a very glaring public example of a big shift in my opinion.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Andrew:
         </span>
         <span>
          How much do you think folks in the legacy industry either didn’t get it, want to promote it or want to be part of it because they were scared?
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Brian Armstrong:
         </span>
         <span>
          This is the classic innovator’s dilemma, right? Any time you have a new technology, everybody who’s an incumbent has to decide, Do we want to embrace it or do we want to fight against it? And in some of these larger organizations, it’s kind of funny actually because there’ll be a part of the organization, like their lobbying team in D.C. — it’s actually fighting against it. But the innovation arm of the company is actually embracing it. And for many of the largest banks now, we’re actually powering pilots with them doing stablecoins and custody and trading and these kinds of things. I think it’s like any company; you have to embrace change and be on the frontier. It’s not unique to crypto.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Andrew:
         </span>
         <span>
          Is there any chance in your mind at all that Warren Buffett is right? He and Charlie Munger used to call it rat poison and say: “Eventually it’ll go to zero. It just might take a while.”
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Fink:
         </span>
         <span>
          But they’re talking specifically about Bitcoin.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Sorkin:
         </span>
         <span>
          They’re talking about Bitcoin. But you offer a Bitcoin E.T.F., so you can speak to this.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Armstrong:
         </span>
         <span>
          I don’t think that that’s going to happen at this point. There’s something that happens from a psychology point of view as we all age, and we grew up in a certain environment and we’re shaped by the experiences we had. For Charlie and Warren, they grew up in an environment of American pre-eminence, and the dollar was everything, and how dare you question it. And we’re in a world now where democracies are trying to figure out how to curb deficit spending, and Bitcoin is kind of this new digital gold. People are going to it in times of uncertainty.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Andrew:
         </span>
         <span>
          How much of it is a function of money being spent? So you were behind the political movement that really pushed a lot of this. You spent about $50 million in corporate donations in the 2024 cycle. The crypto industry spent about $130 million.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Armstrong:
         </span>
         <span>
          Our mission is to increase economic freedom in the world, and I prefer to do that just with our products and integrating crypto into the traditional financial system. But it turns out, over time, that a big way we can accomplish our mission is actually holding bad government accountable, right? So if there’s 52 million Americans who have used crypto, and they want to see clear rules on the books to protect consumers, I think in the last administration we saw that our representatives in government were not actually fulfilling those values that the American people had.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Fink:
         </span>
         <span>
          What is the purpose of Bitcoin? Then we get into stablecoin. The $13.5 trillion that BlackRock managed on behalf of our clients, it’s basically managing hope. That’s all it is. Why would anybody invest in a 30-year outcome unless you’re hopeful in 30 years you’re going to have the compounding effect? Bitcoin is an asset of fear. And when you’re less fearful, like when we had a trade agreement with China, you saw a shift downward. So you own Bitcoin because you’re frightened of your physical security. You own it because you’re frightened of your financial security.
         </span>
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           <h3 style="color:#000;font:700 17px/25px arial,sans-serif;margin:5px 0 30px 0;letter-spacing:.2px">
            <span>
             MORE FROM THE INTERVIEW
            </span>
           </h3>
          </td>
         </tbody>
        </table>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
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            <img alt="Andrew Ross Sorkin, Brian Armstrong and Larry Fink sit in white chair on a stage. Behind them is a blue background that reads “DealBook Summit” and “The New York Times.”" class="css-xsf469" height="333" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2025%252F12%252F16%252Fmultimedia%252F16db-fink-armstrong-1-gqhb%252F16db-fink-armstrong-1-gqhb-jumbo.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3NjYwMDE2NDIuMjM2NzcxM30:1vVxhS:Fre6aaJFiRtrRmMr8IBcDsqWsQLL4KRaqOGJhfqmyMY" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:0;line-height:0" width="500"/>
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              Michael M. Santiago/Getty Images
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               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Fink warned that Bitcoin was still heavily influenced by “
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                leveraged players
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                .” He was alluding to billions of dollars in borrowing by crypto traders seeking to pump up their bets this year. That leverage contributed to Bitcoin’s recent price crash, which accelerated as those leveraged bets were liquidated by crypto exchanges.
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               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Armstrong said he hoped to soon see a Senate vote on
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               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                crypto market structure legislation
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                , which is a priority for Coinbase. The bill that is pending in Congress, known as the Clarity Act, would effectively lock in the policy wins the crypto industry has secured during the Trump administration. It would make it much more difficult for future regulators to crack down on crypto firms.
               </span>
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               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                The conversation turned to stablecoins (digital currencies that maintain a price of $1), which have been a buzzy topic in the crypto and finance worlds this year. Armstrong said
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                banks were exploring ways to use stablecoins
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                — as many have expected to do since Congress passed the Genius Act this year. That legislation created a regulatory framework for stablecoins and essentially gave a seal of government approval to the products.
               </span>
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              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Fink was very enthusiastic about “
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                tokenization
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                ,” or creating cryptocurrencies that represent shares in public companies. There’s a major push in the crypto world to offer these sorts of products in the United States now that the regulatory climate is friendlier to the industry.
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              </li>
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            <img alt="" class="css-xsf469" height="333" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2025%252F12%252F16%252Fmultimedia%252F16DB-Barra-pqvt%252F16DB-Barra-pqvt-jumbo.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3NjYwMDE2NDIuMjM2OTE2M30:1vVxhS:2Jlaq8nd6T3674tNQNEPLeEAn8RaB9yuy-MZbm3D2do" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:0;line-height:0" width="500"/>
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            <span class="css-1wuwhda" style="width:83%;max-width:500px;display:inline-block;text-align:left">
             <span class="css-1hnedf7" style="color:#666;font:normal 12px georgia,serif">
              Mary Barra, the C.E.O. of General Motors, at the DealBook Summit.
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             <span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em;padding-left:5px">
              David Dee Delgado/Getty Images for The New York Times
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        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          What Mary Barra said at the DealBook Summit
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Mary Barra, the C.E.O. of General Motors, has been navigating the Trump administration’s tariffs and a slowdown in U.S. electric vehicle sales. The company also recently refocused its autonomous-driving initiative, Cruise, from self-driving taxis to fully autonomous vehicles for private owners.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          At the DealBook Summit, Barra discussed that decision and the company’s plans with electric vehicles. The below highlight from the conversation has been condensed and edited for clarity.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Andrew:
         </span>
         <span>
          I wanted to ask you about autonomy because Cruise was an early investment, and I know a lot of the technology from Cruise is going to end up in a lot of your vehicles, but it’s not something you were pursuing in the same way as before. And I want to understand what you think the lessons of Cruise were for you, because I think you had very big ambitions in that space.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Barra:
         </span>
         <span>
          I think any transformative technology, and as we talk about artificial intelligence, autonomous driving, is one of the ultimate applications that I still strongly believe in. Our investment in Cruise that we made in 2016 — if you remember, at that time we thought by 2019 we would have autonomy. Frankly, we still don’t have it yet where you can drive anywhere under any condition. We said it was one of the most challenging technologies to develop of this generation. But I think there’s been tremendous progress and technology has changed greatly during that time.
         </span>
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        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          WATCH:
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Why G.M.’s Chief Executive Remains Bullish on E.V.s
         </a>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          LISTEN:
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Mary Barra Says Her Company Will Continue Investing in Fuel Efficiency
         </a>
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        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          There’s tremendous learnings and assets and people that we still have from it, so I look at that investment as foundational to where we are now, and I think we’ve learned a lot. And I’m very excited; we just announced, about a month or six weeks ago, that we plan to have highway L4 capability starting with the Escalade IQ in 2028. With the researchers from G.M., combined with Cruise, combined with the simulation capability they developed and we’re continuing to use, is phenomenal.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          So as we look at that and go into the future, now with Sterling Anderson who joined from Aurora, I think we’re well positioned. But we did, to your point, make the decision to focus on personal autonomous vehicles because that’s our business today. As this evolved, we looked at, Do we really want to be in that business where we’re competing with buses and cabs, etc.? And we said, No, our core business is personal vehicles.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Andrew:
         </span>
         <span>
          Do you think there will be a personal-vehicle business, and there will be an autonomy-fleet business? And it’s going to be separate?
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Barra:
         </span>
         <span>
          I do think they can be separate. We’re focused on personal autonomy. In this area, everyone’s talking to everyone. Or at least I would say that G.M. is talking to a lot of these different companies. What we realize is there are significant differences between personal autonomy and some of the transitions and what you need to do, than there are from a robotaxi fleet. And that’s why we decided to focus on personal.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Andrew:
         </span>
         <span>
          The C.E.O. of Ford said it is very hard to find skilled labor in America today. Where do you think we really are on that? And is skilled labor required? Do we have enough of it? And if we don’t, are robots ultimately going to do it?
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Barra:
         </span>
         <span>
          Well, my dad was a die maker, so he was what would be considered a blue-collar worker and he was one of people I look up to very much in this world. I wish we didn’t have a negative view of people, whether they’re plumbers, electricians, die makers, because I think that craft, because it is a craft — the capability is incredible. So I agree with Jim on those issues. I think that we do need to celebrate people who choose those fields. They’re very important. And I think as you look in an A.I. world, they’re going to be really good jobs.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          From a G.M. perspective, in the last five years, we’ve invested over $250 million in apprentice programs alone. So training electricians and millwrights and pipe fitters that work in our facilities. We also work with the military. As people come out of serving the country, putting them into programs so they can be dealer technicians, because there is a shortage of them right now. I think, as a country, we need to have much more respect for the people who choose those career paths because they’re important to this country and they’re hard-working.
         </span>
        </p>
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           <h3 style="color:#000;font:700 17px/25px arial,sans-serif;margin:5px 0 30px 0;letter-spacing:.2px">
            <span>
             MORE FROM THE INTERVIEW
            </span>
           </h3>
          </td>
         </tbody>
        </table>
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            <img alt="Mary Barra on a white chair against a blue background." class="css-xsf469" height="333" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2025%252F12%252F16%252Fmultimedia%252F16DB-barra-2-tjkc%252F16DB-barra-2-tjkc-jumbo.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3NjYwMDE2NDIuMjM3MDc4NH0:1vVxhS:qCqDZTOEguY9Ay0obpfm6qB3aqqaMFNskooay70CrYc" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:0;line-height:0" width="500"/>
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            <span class="css-1wuwhda" style="width:83%;max-width:500px;display:inline-block;text-align:right">
             <span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em;padding-left:0">
              Michael M. Santiago/Getty Images
             </span>
            </span>
           </td>
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        <div style="margin:0 auto;max-width:600px;width:100%">
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             <ul class="css-1dtd48z" style="color:#000;font:20px georgia,serif;text-align:left;padding-left:50px;list-style-type:square;margin-bottom:10px">
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Barra said General Motors
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                would continue to improve the fuel efficiency and emissions of its cars and trucks
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                even if federal standards are weakened. The Trump administration announced later that day that it was
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                gutting fuel economy standards
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                .
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                In theory, the weakened standards would make it easier for companies like G.M. to sell big S.U.V.s and trucks, which are usually the most profitable. But Barra also has to be mindful that competitors like Toyota will continue to emphasize fuel economy as a selling point. And automakers that become too dependent on big guzzlers could be in trouble if oil prices spike again.
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Barra tacitly endorsed an effort by Mr. Trump to take away California’s right to establish its own stricter clean air standards, which other states
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                have emulated
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                , or plan to. “I’m always going to advocate for
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                one national standard
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                and making sure regulatory requirements don’t get in front of the consumer,” she said.
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Barra said G.M. could compete with emerging Chinese automakers on styling, safety and performance but
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                acknowledged U.S. automakers couldn’t compete with them on cost
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                .
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                She also said that G.M. would continue to invest in electric vehicles, which are growing quickly in China and Europe. Ultimately, she added, people should buy E.V.s on their merits, not because of government incentives that the Trump administration has taken away. “
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                People choose an E.V. because it’s a better performance vehicle and it fits their life
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                ,” she said.
               </span>
              </li>
             </ul>
            </td>
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        </div>
        <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="width:100%">
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            <h2 class="css-hjhb8p" style="letter-spacing:.4px;font:700 17px/25px arial,sans-serif;color:#000;margin:0;padding:0">
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               <td class="css-5i4540" style="display:inline-block;width:291px;max-width:291px;vertical-align:top">
                <a class="css-sdwaa1" style="-webkit-text-decoration:underline;color:#000;text-decoration:none;display:block">
                 <img alt="Article Image" class="css-7y77sk" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2025%252F12%252F03%252Fmultimedia%252F03dealbook-summit-takeaways-top-gvmh%252F03dealbook-summit-takeaways-top-gvmh-square640.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3NjYwMDE2NDIuMjM3MjMzOX0:1vVxhS:sGu7R1eNuLNAkhcC1LE99wamPHeYjT1rwCVLawstnxQ" style="width:291px;box-sizing:border-box;vertical-align:top" width="291"/>
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                  Karsten Moran for The New York Times
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                </a>
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                  5 Takeaways From the 2025 DealBook Summit
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                 <p class="css-1bi319l" style="color:#333;font:17px/22.5px georgia,serif;margin:0;margin-bottom:10px">
                  President Trump’s economic policies and artificial intelligence were among the central topics at the gathering of business and political leaders.
                 </p>
                 <p style="color:#000;font:600 13px/18px arial,sans-serif;margin:0;letter-spacing:.2px">
                  By Kailyn Rhone, Brian O’Keefe and Bernhard Warner
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