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DealBook: What to expect at today’s DealBook Summit
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December 3, 2025
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Good morning. Andrew here.
</span>
<span>
Today is the day: The DealBook Summit begins in a couple of hours. We have an exciting lineup of newsmakers who will discuss the most critical issues of the moment. Please follow along. More below. (Was this newsletter forwarded to you?
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Sign up here.
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)
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<img alt="Andrew Ross Sorkin of The New York Times interviewing Jeff Bezos, the founder of Amazon, at the 2024 DealBook Summit." class="css-3vswge" height="400" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2025%252F12%252F03%252Fmultimedia%252F03db-summit-nl-hzfm%252F03db-summit-nl-hzfm-jumbo.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3NjQ3NjAxNzkuMjg3Nzc3NH0:1vQkjr:qNC3Ze_D2dwngnvPns1beopZszOgtwHSiA7o8RgXDbE" style="width:100%;height:auto;display:block;padding-top:10px;padding-bottom:8px" width="600"/>
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<span style="color:#666;font:normal 14px georgia,serif">
Leaders in politics, business and culture will gather in New York for the DealBook Summit today to speak with The Times’s Andrew Ross Sorkin. He interviewed Jeff Bezos of Amazon at last year’s event.
</span>
<span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em">
Jeenah Moon for The New York Times
</span>
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<h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
<span>
The lineup for DealBook Summit 2025
</span>
</h2>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
Today, DealBook will be live at our
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
annual summit
</a>
<span>
in New York.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
Andrew will kick things off around 9 a.m. Eastern, and the first conversation will get underway shortly after. The DealBook team and reporters from The Times will be reporting live from the conference.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
Even if you are not with us, you can
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
follow along on the New York Times home page
</a>
<span>
beginning around 8:30 a.m. Eastern.
</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">
Here are the speakers in order of appearance (the conversations that will be streamed live on NYTimes.com are noted in parentheses):
</span>
</p>
<div style="margin:0 auto;max-width:600px;width:100%">
<table>
<tbody>
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<td style="padding:0 0 5px">
<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;font-weight:700;font-family:arial,sans-serif;color:#000">
Scott Bessent,
</span>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
U.S. Treasury secretary (livestream)
</span>
</li>
<li style="margin:0 0 10px 0;line-height:27.5px">
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle;font-weight:700;font-family:arial,sans-serif;color:#000">
Brian Armstrong,
</span>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
C.E.O. of Coinbase, and
</span>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle;font-weight:700;font-family:arial,sans-serif;color:#000">
Larry Fink,
</span>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
chairman and C.E.O. of BlackRock
</span>
</li>
<li style="margin:0 0 10px 0;line-height:27.5px">
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle;font-weight:700;font-family:arial,sans-serif;color:#000">
Mary Barra,
</span>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
chair and C.E.O. of G.M.
</span>
</li>
<li style="margin:0 0 10px 0;line-height:27.5px">
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle;font-weight:700;font-family:arial,sans-serif;color:#000">
Lai Ching-te
</span>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
, president of Taiwan
</span>
</li>
<li style="margin:0 0 10px 0;line-height:27.5px">
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle;font-weight:700;font-family:arial,sans-serif;color:#000">
Alex Karp,
</span>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
co-founder and C.E.O. of Palantir
</span>
</li>
<li style="margin:0 0 10px 0;line-height:27.5px">
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle;font-weight:700;font-family:arial,sans-serif;color:#000">
Dario Amodei,
</span>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
co-founder and C.E.O. of Anthropic
</span>
</li>
<li style="margin:0 0 10px 0;line-height:27.5px">
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle;font-weight:700;font-family:arial,sans-serif;color:#000">
Halle Berry,
</span>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
founder of Respin, filmmaker and advocate
</span>
</li>
<li style="margin:0 0 10px 0;line-height:27.5px">
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle;font-weight:700;font-family:arial,sans-serif;color:#000">
Jimmy Donaldson,
</span>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
a.k.a. MrBeast, creator, entrepreneur and philanthropist; and
</span>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle;font-weight:700;font-family:arial,sans-serif;color:#000">
Jeff Housenbold,
</span>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
C.E.O. of Beast Industries
</span>
</li>
<li style="margin:0 0 10px 0;line-height:27.5px">
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle;font-weight:700;font-family:arial,sans-serif;color:#000">
Gavin Newsom,
</span>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
governor of California (livestream)
</span>
</li>
<li style="margin:0 0 10px 0;line-height:27.5px">
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle;font-weight:700;font-family:arial,sans-serif;color:#000">
Erika Kirk,
</span>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
C.E.O. and board chair of Turning Point USA (livestream)
</span>
</li>
</ul>
</td>
</tr>
</tbody>
</table>
</div>
<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">
What to watch:
</span>
<span>
The buzz, fears and questions around artificial intelligence and the gargantuan investments being made to commercialize it; the future of the Fed and central bank independence; how President Trump’s tariffs are affecting business, inflation and global trade; America’s affordability crunch and its impact on politics; the future of electric vehicles in Trump’s America; social media’s effect on society; the future of philanthropy; trade wars; the West’s relationship with China, and China’s relationship with its neighbors — these topics and more will be covered by Andrew as he interviews some of the biggest newsmakers in business, politics and culture.
</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">
There will be plenty of questions about an uncertain future.
</span>
<span>
Does the blockbuster A.I. stock rally have more room to run? Or do the sky-high valuations of A.I. companies portend a bubble in the making? The Trump administration has been actively cutting deals with chief executives, in some cases taking stakes in companies. Does this signal a new era of American capitalism in which the state — and not the market — helps pick the winners and losers? Speaking of which, is free-market capitalism on life support?
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
Looking elsewhere, as we head into the midterm elections, how are the Republican and Democratic parties changing? Will new waves of populism transform American politics?
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
(More on what to expect below.)
</span>
</p>
<table border="0" cellpadding="0" cellspacing="0" style="width:100%">
<tbody>
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<h3 style="color:#000;font:700 17px/25px arial,sans-serif;margin:5px 0 30px 0;letter-spacing:.2px">
<span>
HERE’S WHAT’S HAPPENING
</span>
</h3>
</td>
</tbody>
</table>
<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">
President Trump seems closer to a Fed chair decision.
</span>
<span>
The
</span>
<span style="font-weight:700;font-family:arial,sans-serif;color:#000">
</span>
<span>
White House reportedly
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
canceled interviews
</a>
<span>
for candidates thought to be finalists for the chair of the central bank, according to The Wall Street Journal, and the president said his search had
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
narrowed “down to one.”
</a>
<span>
Fed watchers and bettors on prediction markets have focused on Kevin Hassett, a top White House economic adviser, as the front-runner.
</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">
Could Anthropic beat OpenAI to the I.P.O. market?
</span>
<span>
Anthropic has chosen the law firm Wilson Sonsini to start work on what could be one of the
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
largest I.P.O.s ever
</a>
<span>
, and the I.P.O. move could come as soon as next year, The Financial Times reports. The artificial intelligence start-up has also reportedly discussed a potential listing with major investment banks. Focus on public offerings from the two loss-making leaders in the A.I. boom has intensified since
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
OpenAI restructured
</a>
<span>
in October to become a for-profit business.
</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">
Harvard and the Trump family are hit by a crypto “winter.”
</span>
<span>
During the third quarter, Harvard raised its investment in a Bitcoin-focused exchange-traded fund, effectively amassing a nearly
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
half-billion-dollar bet
</a>
<span>
on the digital asset, according to The Journal. The cryptocurrency’s price has tumbled more than 20 percent since its October peak. And yesterday the shares of American Bitcoin, a Bitcoin mining company
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
backed by Donald Trump Jr. and Eric Trump
</a>
<span>
,
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
plunged by almost 40 percent
</a>
<span>
. The sell-off, which began in the fall, has erased more than $1 billion of the Trump family’s wealth, according to Bloomberg.
</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">
Elon Musk’s charitable organization has become much bigger.
</span>
<span>
The Musk Foundation has
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
grown to more than $14 billion
</a>
<span>
, as of its 2024 tax filings, making it one of the largest philanthropies in the U.S. But it failed to give away the minimum amount required by law for the fourth year in a row, The Times reports. A majority of the donations it did make went to a nonprofit group in Texas led by the billionaire’s top aide.
</span>
</p>
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<h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
<span>
Some things we’d like to cover with the speakers
</span>
</h2>
<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">
DARIO AMODEI, CO-FOUNDER AND C.E.O. OF ANTHROPIC
</span>
</p>
<div style="margin:0 auto;max-width:600px;width:100%">
<table>
<tbody>
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<td style="padding:0 0 5px">
<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">
When will the economics of A.I. begin to pay off? Should we worry that the technology could become a job-killer, or is that fear overblown?
</span>
</li>
</ul>
</td>
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BRIAN ARMSTRONG, C.E.O. OF COINBASE
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Are we heading into another crypto winter? Do you think the recent market volatility will make it harder for key crypto legislation, some of which your company
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has lobbied for
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, to be ratified by Congress?
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LARRY FINK, CHAIRMAN AND C.E.O. OF BLACKROCK
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Over the past two years, your firm has become one of the biggest players in the crypto market, with a big roster of financial products geared toward mainstream investors. What advice do you give these investors about this notoriously volatile asset?
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MARY BARRA, CHAIR AND C.E.O. OF GENERAL MOTORS
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Will President Trump’s trade war transform the automotive industry? And will electric vehicles become niche?
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SCOTT BESSENT, U.S. TREASURY SECRETARY
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Will the next Fed chair confer with the White House on interest rates policy? On trade — consumers face an
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average effective tariff rate of nearly 17 percent
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on imports, according to the Budget Lab at Yale. Do you consider that rate too high, too low, about right?
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LAI CHING-TE, PRESIDENT OF TAIWAN
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Your economy is highly dependent on the manufacturing of chips, a product at the heart of East-West trade war negotiations. Can the global tug of war over semiconductors be amicably resolved?
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JIMMY DONALDSON, A.K.A. MrBeast, CREATOR, ENTREPRENEUR AND PHILANTHROPIST
</span>
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; and
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JEFF HOUSENBOLD, C.E.O. OF BEAST INDUSTRIES
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Your social media savvy has given you a prominent voice in the worlds of media, pop culture, philanthropy and so much more. What’s your next move?
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ALEX KARP, CO-FOUNDER AND C.E.O. OF PALANTIR
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Palantir is a major government contractor, and its market capitalization has soared since Inauguration Day, attracting the attention of short sellers, including Michael Burry. What are they missing about the A.I. boom?
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GAVIN NEWSOM, GOVERNOR OF CALIFORNIA
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You haven’t yet declared whether you’re running for president in 2028. And yet many political pundits say you’re the clear front-runner in the Democratic Party. What would it take for you, or your party, to win the White House?
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ERIKA KIRK, C.E.O. AND BOARD CHAIR OF TURNING POINT USA
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Turning Point USA has become one of the Republican Party’s most potent get-out-the-vote operations. You’ve only been in charge for a few months. Are you up for the task, coming into a crucial midterm elections cycle?
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DealBook: What to expect at today’s DealBook Summit
Also, here’s the lineup.View in browser|nytimes.comDecember 3, 2025Good morning. Andrew here. Tod...