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Sydney Morning Herald
2 days ago
- Entertainment
- Sydney Morning Herald
Why Mountainhead's ‘tech bro' satire rings eerily true
Four obscenely wealthy men, standing on a white mountain top, faces lit with snow glare. One uncaps a bright red lipstick and begins to perform what is clearly a long-standing ritual: writing their net worth on their bare chests. The wealthiest, Venis, is actually the richest man in the world, 'the king of cash, the marquis of Moolah, the North Star of net worth'. He seems to be a hybrid of Elon Musk and Mark Zuckerberg (though, at $US220 billion – 340 billion Australian dollars – he's not quite as wealthy as them) and is crowned with golden laurels. The second, Randall, played by Steve Carell, 'the Grand Old Duke of dough', with $US63 billion, is given a captain's hat. The third, Jeff, on $US59 billion, a sailor's hat. The fourth, Hugo (Jason Schwartzman), hangs a ladle around his neck to symbolise his nickname, 'Soups' for 'Soup Kitchen', as he is the poorest of the group. And when I say poor, I mean 521 million US dollars. Struggletown. Misery, and certainly, as his character showed, deep insecurity. Mountainhead is satire, but director Jesse Armstrong, the creator of the brilliant Succession, knows how to write rich people. As Venis walks through snow-laden trees with Carell, he grins and yells: 'It's so beautiful you could f*** it.' These men, Armstrong says, are notable for 'supreme confidence in their analytical abilities' and 'arrogance'. I kept thinking throughout about how tech analyst and podcaster Kara Swisher says the term tech bro is short for 'technically broken'. Amoral, self-concerned and making decisions about things they have no expertise in – how often we fall prey to the false idea that because someone makes a lot of money, they know about all other things, like how to run the world without destroying it. 'Do you believe in other people?' Venis asks Randall, who replies: 'I think one needs to.'
The Age
2 days ago
- Entertainment
- The Age
Why Mountainhead's ‘tech bro' satire rings eerily true
Four obscenely wealthy men, standing on a white mountain top, faces lit with snow glare. One uncaps a bright red lipstick and begins to perform what is clearly a long-standing ritual: writing their net worth on their bare chests. The wealthiest, Venis, is actually the richest man in the world, 'the king of cash, the marquis of Moolah, the North Star of net worth'. He seems to be a hybrid of Elon Musk and Mark Zuckerberg (though, at $US220 billion – 340 billion Australian dollars – he's not quite as wealthy as them) and is crowned with golden laurels. The second, Randall, played by Steve Carell, 'the Grand Old Duke of dough', with $US63 billion, is given a captain's hat. The third, Jeff, on $US59 billion, a sailor's hat. The fourth, Hugo (Jason Schwartzman), hangs a ladle around his neck to symbolise his nickname, 'Soups' for 'Soup Kitchen', as he is the poorest of the group. And when I say poor, I mean 521 million US dollars. Struggletown. Misery, and certainly, as his character showed, deep insecurity. Mountainhead is satire, but director Jesse Armstrong, the creator of the brilliant Succession, knows how to write rich people. As Venis walks through snow-laden trees with Carell, he grins and yells: 'It's so beautiful you could f*** it.' These men, Armstrong says, are notable for 'supreme confidence in their analytical abilities' and 'arrogance'. I kept thinking throughout about how tech analyst and podcaster Kara Swisher says the term tech bro is short for 'technically broken'. Amoral, self-concerned and making decisions about things they have no expertise in – how often we fall prey to the false idea that because someone makes a lot of money, they know about all other things, like how to run the world without destroying it. 'Do you believe in other people?' Venis asks Randall, who replies: 'I think one needs to.'
The Age
12-05-2025
- Business
- The Age
The investors who spent $232 million to win a dinner with Trump
Other holders in the top 25 included companies based in Singapore and Hong Kong. After Trump won the presidency, Sun said he invested a total of $US75 million into the family's new cryptocurrency venture, World Liberty Financial. In addition to being the single-largest known investor, Sun also became an advisor to the project. In February, the US Securities and Exchange Commission said it paused its 2023 fraud case against Sun, citing public interest. The SEC declined to comment. Coming in last place, at number 220 on the leaderboard on was an anonymous wallet simply known as 'ces,' which held about $US59,000 worth of time-weighted coins. The terms and conditions of the event noted that Trump may not attend and it could be 'cancelled for any reason.' In January, the Trump Organisation announced that the president's investments, assets and business interests would be held in a trust managed by his children and he would play no role in day-to-day operations or decision-making. The family named a prominent attorney, William Burck, as an ethics advisor to 'avoid any perceived conflicts of interest.' On April 24, the Trump Organisation subsequently fired Burck, citing his representation of Harvard University in its funding battle with the Trump administration. The company has not named a replacement. Burck did not offer comment. The White House and the Trump Organisation did not respond to requests for comment. In an earlier response to Reuters regarding criticisms by Democratic lawmakers that the meme coin dinner poses conflicts of interest, White House Deputy Press Secretary Anna Kelly said: 'President Trump's assets are in a trust managed by his children. There are no conflicts of interest.' The current market value of all $USTRUMP coins is $US2.74 billion. A company controlled by the Trump family and a second firm together hold 80% of the remaining supply of the meme coins, which are advertised with an image of the president raising his fist in reference to his July assassination attempt. So far, the entities behind the Trump coin have earned $US320.19 million in fees, including at least $US1.35 million after the dinner announcement, according to blockchain analytics firm Chainalysis. Some government ethics experts say the $USTRUMP meme coin allows anonymous foreign individuals to personally purchase access to Trump, triggering a volley of complaints from Democratic lawmakers to the US Securities and Exchange Commission. Connecticut Democratic Senator Richard Blumenthal, ranking member of the Senate's Permanent Subcommittee on Investigations, has opened an inquiry into whether Trump's crypto enterprises violate government ethics requirements. Both Connecticut Democratic Senator Chris Murphy and Oregon Democratic Senator Jeff Merkley have each introduced bills aimed at ending the ability of presidents and members of Congress to profit off crypto assets. California Democratic Congressman Sam Liccardo introduced companion legislation in the US House. 'The Trump meme coin is the single most corrupt act ever committed by a president,' said Senator Murphy in a statement to Reuters on Friday. 'Donald Trump is essentially posting his Venmo for any billionaire CEO or foreign oligarch to cash in some favours by secretly sending him millions of dollars.' Of particular concern, the lawmakers say, is the way Trump has moved to curb crypto enforcement and ease regulation at the same time as his family stands to benefit financially from the sector. In April, the DOJ dismantled its crypto enforcement unit. A spokesperson for the DOJ told Reuters: 'This Department of Justice will continue to prosecute those who victimise digital asset investors or those who use digital assets in furtherance of crimes.' Since the $USTRUMP meme coin launch three days before the president's inauguration, returns have favoured large investors. More than 60 large wallets have profited close to $US1.5 billion, with $US48 million in profits occurring after the April dinner announcement, according to reviews by Inca Digital and crypto analytics tracker Bubblemaps as of May 8. At least two of the largest investors in the $USTRUMP contest have made profits in excess of $US10 million each, Inca Digital found, while 15 investors have made more than $US1 million. Meanwhile, about 600,000 other wallets have lost $US3.87 billion so far, with $US117 million of losses occurring after Trump announced the dinner on social media, Inca and Bubblemaps found. The purchases were of coins that have already been issued, meaning Trump's family collected relatively small amounts of fees. One of those is Kali, a 27-year-old in Hawaii who plans luxury vacations for high net worth individuals and asked that her last name not be used due to fear of being harassed by others in the crypto industry. She said she spent about $US10,000 on the coin, at an average of $US15 per coin. Loading In the days leading up to the contest, as the coin's price began to climb again, she was holding her breath and hoping to break even by the time the contest ends today. The $USTRUMP meme coin is part of the Trump family's growing array of crypto ventures including the trading platform World Liberty Financial, Trump Media & Technology Group's new crypto ETFs, a crypto mining operation, American Bitcoin, and a stablecoin pegged to the US dollar called USD1.
Sydney Morning Herald
12-05-2025
- Business
- Sydney Morning Herald
The investors who spent $232 million to win a dinner with Trump
Other holders in the top 25 included companies based in Singapore and Hong Kong. After Trump won the presidency, Sun said he invested a total of $US75 million into the family's new cryptocurrency venture, World Liberty Financial. In addition to being the single-largest known investor, Sun also became an advisor to the project. In February, the US Securities and Exchange Commission said it paused its 2023 fraud case against Sun, citing public interest. The SEC declined to comment. Coming in last place, at number 220 on the leaderboard on was an anonymous wallet simply known as 'ces,' which held about $US59,000 worth of time-weighted coins. The terms and conditions of the event noted that Trump may not attend and it could be 'cancelled for any reason.' In January, the Trump Organisation announced that the president's investments, assets and business interests would be held in a trust managed by his children and he would play no role in day-to-day operations or decision-making. The family named a prominent attorney, William Burck, as an ethics advisor to 'avoid any perceived conflicts of interest.' On April 24, the Trump Organisation subsequently fired Burck, citing his representation of Harvard University in its funding battle with the Trump administration. The company has not named a replacement. Burck did not offer comment. The White House and the Trump Organisation did not respond to requests for comment. In an earlier response to Reuters regarding criticisms by Democratic lawmakers that the meme coin dinner poses conflicts of interest, White House Deputy Press Secretary Anna Kelly said: 'President Trump's assets are in a trust managed by his children. There are no conflicts of interest.' The current market value of all $USTRUMP coins is $US2.74 billion. A company controlled by the Trump family and a second firm together hold 80% of the remaining supply of the meme coins, which are advertised with an image of the president raising his fist in reference to his July assassination attempt. So far, the entities behind the Trump coin have earned $US320.19 million in fees, including at least $US1.35 million after the dinner announcement, according to blockchain analytics firm Chainalysis. Some government ethics experts say the $USTRUMP meme coin allows anonymous foreign individuals to personally purchase access to Trump, triggering a volley of complaints from Democratic lawmakers to the US Securities and Exchange Commission. Connecticut Democratic Senator Richard Blumenthal, ranking member of the Senate's Permanent Subcommittee on Investigations, has opened an inquiry into whether Trump's crypto enterprises violate government ethics requirements. Both Connecticut Democratic Senator Chris Murphy and Oregon Democratic Senator Jeff Merkley have each introduced bills aimed at ending the ability of presidents and members of Congress to profit off crypto assets. California Democratic Congressman Sam Liccardo introduced companion legislation in the US House. 'The Trump meme coin is the single most corrupt act ever committed by a president,' said Senator Murphy in a statement to Reuters on Friday. 'Donald Trump is essentially posting his Venmo for any billionaire CEO or foreign oligarch to cash in some favours by secretly sending him millions of dollars.' Of particular concern, the lawmakers say, is the way Trump has moved to curb crypto enforcement and ease regulation at the same time as his family stands to benefit financially from the sector. In April, the DOJ dismantled its crypto enforcement unit. A spokesperson for the DOJ told Reuters: 'This Department of Justice will continue to prosecute those who victimise digital asset investors or those who use digital assets in furtherance of crimes.' Since the $USTRUMP meme coin launch three days before the president's inauguration, returns have favoured large investors. More than 60 large wallets have profited close to $US1.5 billion, with $US48 million in profits occurring after the April dinner announcement, according to reviews by Inca Digital and crypto analytics tracker Bubblemaps as of May 8. At least two of the largest investors in the $USTRUMP contest have made profits in excess of $US10 million each, Inca Digital found, while 15 investors have made more than $US1 million. Meanwhile, about 600,000 other wallets have lost $US3.87 billion so far, with $US117 million of losses occurring after Trump announced the dinner on social media, Inca and Bubblemaps found. The purchases were of coins that have already been issued, meaning Trump's family collected relatively small amounts of fees. One of those is Kali, a 27-year-old in Hawaii who plans luxury vacations for high net worth individuals and asked that her last name not be used due to fear of being harassed by others in the crypto industry. She said she spent about $US10,000 on the coin, at an average of $US15 per coin. Loading In the days leading up to the contest, as the coin's price began to climb again, she was holding her breath and hoping to break even by the time the contest ends today. The $USTRUMP meme coin is part of the Trump family's growing array of crypto ventures including the trading platform World Liberty Financial, Trump Media & Technology Group's new crypto ETFs, a crypto mining operation, American Bitcoin, and a stablecoin pegged to the US dollar called USD1.
AU Financial Review
28-04-2025
- Automotive
- AU Financial Review
Jeff Bezos-backed start-up launches $30,000, US-made electric pickup
Austin | A Jeff Bezos-backed start-up aims to appeal to American car buyers' patriotism and wallets. Slate Auto plans to debut a small, electric-powered, American-made pickup for less than $US20,000 ($31,310) with federal subsidies. The bare bones, two-seater truck is designed to make a splash in a market where demand for electric vehicles has softened. The lessening demand is due in part to high prices that data group Cox Automotive estimates averaged $US59,205 in March, 25 per cent more than a petrol vehicle.
