Feb 7, 2025, 6:43 AM ETInterview, Podcast, Other

It could happen to you: introducing “Scam Inc”

Investigation Origins: The podcast series Scam Inc. was launched after correspondent Su Lin Wong investigated the collapse of a rural Kansas bank, where the CEO lost $47 million to a sophisticated crypto investment scam.
Industry Scale: The online scam industry is now a multi-billion dollar enterprise rivaling the global drug trade, with operations stretching from Southeast Asia to the Isle of Man.
Psychological Tactics: Scammers specifically target human vulnerabilities, loneliness, and lack of support systems; the investigation revealed that even skeptics are at risk due to the sophistication of the manipulation.
Coercion and Violence: Operations in countries like the Philippines involve violent coercion, including torture facilities where victims who fail to meet quotas are punished publicly to intimidate others.
AI Threats: The rise of AI has enabled voice cloning using as little as 15 seconds of audio, prompting the adoption of family code words to verify identity during calls.
Geographic Spread: Scam networks have infiltrated diverse regions including the Middle East, Africa, South America, and Europe, moving beyond traditional Asian hubs.
Content Access: Scam Inc. is available on major podcast platforms, with the first three episodes free and subsequent episodes behind a subscriber paywall.

Tariff Whiplash: The administration initially threatened 25% tariffs on imports from Canada and Mexico (covering roughly $1.4 trillion in trade), causing immediate stock market declines and currency devaluation, before pausing them for 30 days on Monday.
Aggression Levels: President Trump is implementing tariffs more rapidly and aggressively than in his first term; previously, it took years to cover $380 billion, whereas this administration has targeted nearly 40% of US total imports without a confirmed Trade Representative.
Protectionist Intent: The President is described as a "true believer" in tariffs, viewing them not just as leverage but as a mechanism to revitalize US manufacturing and generate federal revenue to cut other taxes.
Concession Outcomes: The primary concessions extracted from Canada and Mexico involved reiterating existing policies on border security and drug interdiction, which critics likened to "getting a packet of gum" after threatening a "suicide vest."
Market Uncertainty: Despite the pause, businesses have delayed investment and hiring plans due to the instability of US trade policy, which economists argue causes more economic harm than the tariffs themselves.
Future Targets: Potential next steps include tariffs on the European Union and semiconductors from Taiwan, with a long-term goal of establishing a universal across-the-board tariff.

New Tournament Format: Magnus Carlsen and partner Tim Cross launched the "Freestyle Chess Grand Slam Tour," a rebranded event designed to inject the glamour of Formula One into chess.
Location Strategy: The tour utilizes high-profile venues including luxury resorts, yachts, and skyscrapers in cities like Berlin, Singapore, Delhi, and New York.
Broadcast Innovation: To engage non-fans, broadcasts feature dual streams: one for experts using technical jargon and another for laypeople with jargon-free commentary.
Viewer Analytics: New broadcasting elements include on-screen heart rate monitors for players and a "win probability" bar showing real-time engine evaluation of the game state.
Game Mechanics: The tour uses "Chess 960" (renamed Freestyle Chess), where the starting positions of non-pawn pieces are randomized (960 possibilities) to prevent rote memorization of opening moves.
Strategic Goal: By removing the advantage of computer-prepared openings, the format forces players to rely on intuition, aiming to make the opening phase more dramatic and less predictable.
Star Power: The initiative leverages Carlsen's mainstream celebrity status, drawing comparisons to Tiger Woods' influence on golf to attract a wider audience beyond traditional chess enthusiasts.