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How to get through the Strait of Hormuz

The United States has been at war with Iran since February 28th. And for a month and a half, Iran’s main leverage over the U.S. has been their control over the Strait of Hormuz — a key global shipping route. Iran has attacked ships that try to pass without approval. And recently they’ve insinuated that one part of the Strait — the part near Oman — is not safe. Which means that captains had to go right by Iran’s shores to get through the Strait … effectively creating a chokepoint for the global economy. 

On today’s show, a source inside Iran tells us how ships had been getting through the strait, and how the tollbooth Iran set up works. And we ask: What does this all mean for the global economy? 

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This episode of Planet Money was hosted by Nick Fountain. It was produced by James Sneed. It was edited by Jess Jiang, fact-checked by Sierra Juarez, and engineered by Kwesi Lee. Alex Goldmark is Planet Money’s executive producer.

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Ferrari

Ferrari is the pinnacle of luxury scarcity — across its entire 79-year history, the company has sold just 330,000 cars at an average price today of $500,000. For context, Hermès sells that many Birkins and Kellys roughly every 2 years, and Rolex moves that many watches every 3 months. And yet this ultimate luxury product also lives under the same roof with a widely beloved professional sports team… one with 400 million rabid fans from all walks of life who live and die by the Scuderia’s performance every F1 race weekend! How is it possible that these two seemingly contradictory customer bases can coexist within the same company? And far from destroying each other’s value, only reinforce it? The answer, it turns out, is a beautiful, bloody, tragic and romantic opera that spans two families and three generations — and just might be one of the best tales we’ve ever told on Acquired. Buckle up for the story of Ferrari.

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00:00:00 Start
00:01:08 Intro
00:06:11 Enzo Ferrari’s Early Life & Tragedies (1898-1919)
00:12:39 Scuderia Ferrari: Enzo’s Racing Dream (1920-1933)
00:25:08 The Prancing Horse & Ferrari’s Branding
00:35:41 First Ferrari Road Cars & Le Mans Victory (1947-1949)
00:51:31 F1 & The Tragedies of Enzo’s Life (1950s)
01:14:03 Ford vs. Ferrari: The Le Mans Rivalry (1963-1966)
01:21:24 Enzo Sells 50% to Fiat (1969)
01:29:10 Luca di Montezemolo’s Return to F1 Glory (1971-1976)
01:52:40 Ferrari’s “Pepsi Challenge” and how Luca rescued the company (1991)
02:27:41 Post-IPO Ferrari: New Models & Growth (2015-Present)
02:48:24 The FUV Purosangue & Model Range
03:07:16 Ferrari Luce: The EV Future with Jony Ive
03:12:37 Ferrari Today by the Numbers
03:29:39 Analysis
03:50:04 Carve-Outs + Thank Yous

‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.

885: Bless This Mess

At a time when the U.S. government is trying to make American history tidier, we try to learn from the mess. Including the untold, messy story of Paul and Essie Robeson.

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  • Prologue: Guest Host Emanuele Berry talks to Nichole Hill about the Black movie characters Nichole was curious about as a child. (7 minutes)
  • Act One: A giant of the Harlem Renaissance, Paul Robeson was the most famous American of his day. Until he wasn’t. Nichole Hill tells the messy, complicated story of Paul and his wife, Essie Robeson. (38 minutes)
  • Act Two: In 1865, a formerly enslaved man named Jourdan Anderson received a letter from his former enslaver, asking Jourdan to return to the plantation and work. Actor Laurence Fishburne reads Jourdan’s response. 

Transcripts are available at thisamericanlife.org

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BOOKstore Economics

How do bookstores choose the books they stock, and how does that affect what customers read? It may not seem like it, but every shelf in a bookstore is a highly valuable and contested piece of commercial real estate. And for every new book that a bookstore decides to stock, there are thousands of others that did not make the cut. So how do bookstores make those decisions? And how will the Planet Money book fare under the discerning eyes of the booksellers, the final gatekeepers in the long gauntlet of the publishing industry?

Today on the show: the third episode in our series. Planet Money sets out to actually sell a book. We burrow behind the bookstore shelves to learn the secret codes that publishers use to try to convince booksellers to carry the book, from little mom and pops to airport juggernauts. There will be corporate intelligence networks, bargain bin shenanigans, and a giant industrial saw chewing up books by the thousands. Call it Pulp Non-fiction.

Related:

Fisher Nash’s Substack
– Episode 1: Inside a BOOK auction
– Episode 2: Our BOOK vs. the global supply chain 
– Episode 4: How to make a BOOK into a bestseller
– Series: Planet Money makes a book

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This episode was produced by Willa Rubin with help from Emma Peaslee. It was edited by Jess Jiang, fact-checked by Sierra Juarez, and engineered by Robert Rodriguez. Alex Goldmark is our executive producer. 

Music: NPR Source Audio – “A Peculiar Investigation,” “Round Round,” and “Neighbourhood Watcher.”

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The hidden forces shaping your choices

Every day, we make countless choices—but are these decisions guided by desire or design? This hour, TED speakers on what shapes the food we eat, how we power our homes, and how we communicate. Guests include food systems expert Sarah Lake, infrastructure engineer Deb Chachra, cross-cultural psychologist Michele Gelfand, urban planner Jeff Speck, and Tempe resident Ignacio Delgadillo. Original broadcast date: May 2, 2025

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A pro-worker experiment in private equity

Live event info and tickets here. 

If your company got bought by a private equity firm, how would you feel? Maybe a little nervous? You might find yourself wondering if there will be layoffs.

And you’d be right to worry about that. Research shows that while private equity ownership can boost a company’s productivity, it does generally result in job cuts. 

But one private equity executive is trying to do things a different way – giving workers equity, little cuts of ownership in their own companies. To see if doing so can improve outcomes overall. 

On today’s show, private equity is not widely beloved for its societal costs – job losses, product degradation, worsening inequality. And this one guy at this one firm can’t solve all of his industry’s ills. But for the past 15 years, he’s been running a large-scale, real-world experiment to see if giving workers ownership can fit into the big bad world of PE. And maybe lead to more … equity. 

Recommended Listening/Reading:

What Do Private Equity Firms Actually Do?
The risk of private equity in your 401(k)
Here’s what happens when private equity buys homes in your neighborhood (newsletter)
JScrewed 

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This episode was hosted by Mary Childs and Wailin Wong. It was produced by Sam Yellowhorse Kesler. It was edited by Jess Jiang with an assist from Marianne McCune, fact-checked by Sierra Juarez, engineered by Cena Loffredo with help from Jimmy Keeley. Alex Goldmark is Planet Money’s executive producer. 

Music: Universal Production Music – “Make Me Want You,” “Baby I Surrender,” and “Bye Bye Bye”

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Reese’s heir vs. chocolate skimpflation

Live event info and tickets here. 

When ingredient costs skyrocket, companies have three basic options: They can raise their prices (a sort of product-specific inflation), shrink the size of the products (often called “shrinkflation”), or, sometimes, find more creative ways to reduce costs by degrading the quality of their products – which our very own Greg Rosalsky has dubbed as  “skimpflation.” The latest alleged culprit? Hershey’s.

The Hershey Company is using ingredients in some of their Reese’s candies that — legally — they cannot call milk chocolate or peanut butter. This has infuriated Brad Reese, a grandson of H.B. Reese, the inventor of the Reese’s Peanut Butter Cup. 

On today’s show, why chocolate makers might be skimping on chocolate and peanut butter, what else might explain these ingredients, and how Brad Reese has launched a skimp-shaming campaign to get Hershey’s to go back to using classic Reese’s ingredients.

And – EXCLUSIVE – you’ll hear Planet Money break some big news to third-generation peanut butter cup scion Brad Reese.

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This episode was hosted by Greg Rosalsky and Sarah Gonzalez. It was produced by James Sneed. It was edited by Kenny Malone, fact-checked by Sierra Juarez, and engineered by Cena Loffredo. Alex Goldmark is Planet Money’s executive producer.

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Could AI help us, not replace us?

The time has come for humanity to make a choice: Will we build AI to replace humans or enhance them? This hour, the “humanistic AI” philosophy, a test case, and a glimpse into the future of work.

Guests include Siri co-creator Tom Gruber, CENTURY Tech CEO Priya Lakhani and Robinhood CEO Vlad Tenev.

TED Radio Hour+ listeners now get access to bonus episodes, with more ideas from TED speakers and deeper conversations with Manoush. By signing up for Plus, you directly support our work and public media, so all your episodes (like this one!) come to you without sponsor breaks. Learn more at plus.npr.org/ted.

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Dark times for Cuba’s economic experiment

Live event info and tickets here. 

For more than 60 years, Cuba has survived on two seemingly contradictory economic strategies: leaning on friendly communist and socialist countries, and flirting with capitalism. And right now it seems the US is making both strategies impossible.

Since January, the U.S. has been preventing almost all oil from reaching the island. Doctors can’t get to the hospitals where they work, many buses aren’t running, trucks can’t deliver food and medicine where they’re needed. And there have been frequent blackouts. On more than one occasion over the last few weeks, the entire country has lacked power. 

It’s hard for people to even talk on the phone because they can’t always charge them or get cell service. So we asked them to send us voice notes describing this moment in Cuba’s history. 

We also wanted to know: How did Cuba get here? On today’s episode: a brief history of Cuba’s communist-capitalist experiment. 

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This show was hosted by Erika Beras and Nick Fountain. It was produced by Luis Gallo. It was edited by Marianne McCune. It was fact-checked by Sierra Juarez and engineered by Robert Rodriguez. Alex Goldmark is Planet Money’s executive producer.  

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884: The Idiot

M. Gessen returns to our show with a true-crime story that takes place entirely within their own family. This story comes to us from the producers at Serial Productions—who invented the true-crime podcast more than a decade ago—and from The New York Times.

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  • Act One: M Gessen tells Ira Glass about the surprising events that prompted them to begin reporting on their own family for their new podcast, The Idiot. They play the first episode of the series. (14 minutes)
  • Act Two: Ira Glass and M Gessen continue to talk through the story of M’s cousin, Allen Gessen. They play more clips from the podcast, and we finally hear about the big, shocking thing that snapped their family apart. (20 minutes)
  • Act Three: M Gessen tells Ira Glass about Allen’s trial, and we hear a recording of his conversation with the undercover agent. (21 minutes)

Transcripts are available at thisamericanlife.org

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