Jamie Dimon’s 2008 Crisis Playbook

FINANCE
Jamie Dimon’s 2008 Crisis Playbook

JPMorgan CEO Jamie Dimon was one of the few banking leaders who saw the 2008 financial crisis coming and prepared his bank accordingly. On a recent podcast, he shared how his risk management approach and stress testsensured JPMorgan was ready when the market collapsed.

One of the most intense moments came on March 13, 2008, when Bear Stearns CEO Alan Schwartz called Dimon at 9 p.m., saying, “I need $30 billion tonight, or we’ll go bankrupt in Asia by morning.” Dimon immediately summoned hundreds of JPMorgan staff back to the office to analyze Bear Stearns’ finances and decide if they could step in. Within 48 hours, JPMorgan bought Bear Stearns, preventing wider market fallout.

Dimon credits his preparation to lessons from past recessions, emphasizing capital discipline, liquidity, and leadership under pressure. “When the crisis hit, we were ready,” he said, highlighting his team’s ability to make rapid battlefield decisions under extreme stress.

FINANCE
Musk Battles OpenAI Over Profit Shift

Elon Musk’s legal battle with OpenAI continued in court Tuesday, as a federal judge weighed his request to block OpenAI’s transition into a for-profit entity. U.S. District Judge Yvonne Gonzalez Rogers said Musk’s claim of “irreparable harm” was a “stretch”, but she also expressed concerns about OpenAI’s ties to Microsoft.

Musk, an early OpenAI investor, filed the lawsuit in 2023, arguing that the company violated its nonprofit mission. His lawyers claim that OpenAI’s leadership, including CEO Sam Altman, broke its founding agreement by prioritizing profit over public benefit.

Judge Gonzalez Rogers also questioned Microsoft’s influence, noting that two board members, including LinkedIn co-founder Reid Hoffman, have Microsoft ties. She expressed skepticism about a non-voting Microsoft board observerbeing truly uninvolved in decision-making.

While the judge has not yet ruled on Musk’s injunction, she allowed the case to proceed. A trial is expected no earlier than 2026, with Meta and other tech companies also challenging OpenAI’s restructuring.

NUCLEAR ENERGY
Trump Backs Nuclear Energy Expansion

Nuclear energy is poised for a major resurgence, with strong backing from President Donald Trump’s administration, according to Yuri Khodjamirian, CIO at Tema ETFs. While the sector is gaining momentum, he cautions that nuclear projects take time, with new technology approvals typically requiring a decade. However, Trump’s support may accelerate adoption.

Tema ETFs is focusing on proven nuclear firms like BWX Technologies, which builds military nuclear reactors, and small modular reactors (SMRs)—a promising new technology that generates low-carbon electricity with smaller infrastructure requirements.

Trump’s pro-energy stance was reinforced by the Senate’s confirmation of Chris Wright as Energy Secretary, a nuclear advocate who previously served on Oklo’s board.

Khodjamirian also highlighted global AI tensions, as China’s DeepSeek AI model faces regulatory pushback from Italy, France, South Korea, and Taiwan over security concerns. He believes this will reshape global digital bordersand influence how the U.S. responds to China’s AI advancements.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.