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Today, Explained

The billionaire backlash

14 Nov 2025

Transcription

Chapter 1: What is the main topic discussed in this episode?

0.031 - 22.875 Noel King

Billionaires are everywhere. Just this week, The Guardian reported that Gen Z's hottest job is nannying for billionaires. President Trump pardoned a British billionaire who was convicted of fraud so he can visit his grandbabies in America. A billionaire investor threatened on CNBC to leave New York because housing is too expensive.

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22.955 - 24.377 Unknown

It's super expensive.

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24.457 - 27.469 Noel King

Because of... The unions.

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27.589 - 31.815 Unknown

Other developers have tried to cut deals with the unions, but they rule New York.

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31.896 - 44.495 Noel King

Then he said, Mamdani's going to turn New York into Mumbai. These stories are annoying. We are annoyed with billionaires, but we can't escape them. Or can we? Coming up on Today Explained, the movement to abolish billionaires.

46.258 - 51.947 Billie Eilish

No hate, but yeah, give your money away, shorties. Love you guys. Thank you so much.

51.967 - 52.127

No hate.

54.436 - 103.264 Unknown

We'll see you next time. And the best part? Odoo replaces multiple expensive platforms for a fraction of the cost. That's why over thousands of businesses have made the switch. So why not you? Try Odoo for free at odoo.com. That's O-D-O-O dot com. Support for this show comes from Odoo.

103.925 - 128.069 Unknown

Running a business is hard enough, so why make it harder with a dozen different apps that don't talk to each other? Introducing Odoo. It's the only business software you'll ever need. It's an all-in-one, fully integrated platform that makes your work easier. CRM, accounting, inventory, e-commerce, and more. And the best part? Odoo replaces multiple expensive platforms for a fraction of the cost.

Chapter 2: How is the public perception of billionaires changing?

848.916 - 870.447 Unknown

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870.427 - 894.882 Unknown

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895.013 - 915.267 Unknown

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920.343 - 962.509 Noel King

Thank you so much. When you learn with Udacity, you're not just passively watching videos or reading articles. You're doing practical exercises and projects that prepare you for the job you want. That's why 90% of Udacity graduates, according to Udacity surveyed, say they achieved their enrollment goal. Udacity also just launched a master's degree in AI.

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962.89 - 982.632 Noel King

The tech field is always evolving and you should be too, says Udacity. You can try Udacity risk-free for seven days. You can head to udacity.com slash explained and use the code explained for 40% off your order. Once again, that's udacity.com slash explained for 40% off and make sure you use the promo code explained so they know we sent you.

988.636 - 991.052 Unknown

This is Today Explained.

991.943 - 1013.594 Noel King

Evan Osnos of The New Yorker, good day to you. Recently, as a result of, I don't know, I'm just going to pick a name out of a hat, Zoran Mamdani, we have all been starting to hear about a sort of anti-billionaire sentiment that goes something like this, to keep it short. Abolish billionaires. There shouldn't be billionaires.

1015.136 - 1020.904 Noel King

Talk to me about where this abolish billionaires push comes from and where it begins.

1020.884 - 1044.919 Evan Osnos

Well, as a general idea, this has been around since the Russian Revolution in 1917. But in recent years, it's become much more explicit. It was really around 2019 that we began to hear that idea. This was in the latter moments of the first Trump administration. And Bernie Sanders was running for president.

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