Citadel Swoops In to Save Situational Awareness
Slate · L · trust 13/100
Citadel bails out Leopold Aschenbrenner’s tanking hedge fund, the crack spread is growing, and nobody wants the SEC to kill quarterly reports.
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This week: Situational Awareness—an A.I.-forward hedge fund led by a former wunderkind and OpenAI employee—was tanking fast until a rival fund stepped in. Felix Salmon , Elizabeth Spiers , and Emily Peck explain the series of events that led to Citadel swooping in to buy the bulk of assets held by 25-year-old Leopold Aschenbrenner’s investment firm. Then, it’s time to talk about the “crack spread”—aka the reason we aren’t seeing relief at the gas stations despite steadying oil prices. And finally, the hosts discuss the backlash to the SEC’s proposal to do away with its quarterly report requirement.
In the Slate Plus episode: Is Cheaper Gas Worth Your Time?
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Podcast production by Jessamine Molli and Cheyna Roth.
A cost-benefit analysis of detouring for a lower price per gallon.
A weekly roundup of the most important stories from the worlds of business and finance, hosted by Felix Salmon, Emily Peck, and Elizabeth Spiers.
Emily Peck is the co-host of Slate Money and a markets correspondent for Axios.
Felix Salmon is a host of the Slate Money podcast .
Elizabeth Spiers is Slate’s Pay Dirt columnist. She was the founding editor of Gawker and the former editor in chief of the New York Observer. Prior to Gawker, she was a financial analyst.
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