Computers have outplayed humans in chess and Go for decades. But poker was long considered unhackable. The game requires not just crunching numbers, but creativity and complex strategy. That only started to change about 10 years ago, when a new generation of unbeatable poker bots began to appear online. 

The makers of the technology remained in the shadows, so Bloomberg’s Kit Chellel set out to find them. On today’s Big Take podcast, he joins David Gura to share the story of how a group of Russian students invented the world’s best online poker bots and what that means for the multi-billion-dollar industry.

Read more: The Russian Bot Army That Conquered Online Poker

Computers have outplayed humans in chess and Go for decades. But poker was long considered unhackable. The game requires not just crunching numbers, but creativity and complex strategy. That only started to change about 10 years ago, when a new generation of unbeatable poker bots began to appear online.  The makers of the technology remained in the shadows, so Bloomberg’s Kit Chellel set out to find them. On today’s Big Take podcast, he joins David Gura to share the story of how a group of Russian students invented the world’s best online poker bots and what that means for the multi-billion-dollar industry.
Read more: <a href="The%20Russian%20Bot%20Army%20That%20Conquered%20Online%20Poker">The Russian Bot Army That Conquered Online Poker</a>

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

Big Take

The Genius Minds Behind the World’s Best Poker Bots

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/fb6b7192-2bdd-405a-99bc-b1f10116df2d/transcript

American consumers disputed nearly 30% more credit card transactions in 2025 than they did just four years earlier. Some of those “chargebacks” are legitimate issues or outright scams. But increasingly, many are what Bloomberg Businessweek reporter Amanda Mull says is friendly fraud — transaction disputes that aren’t completely honest or the retailer’s fault.

On today’s Big Take podcast, Mull joins host Sarah Holder to discuss the sharp rise in chargebacks, and the consequences of this trend for retailers, banks and consumers.

Read more: Credit Card Holders Are Using ‘Friendly Fraud’ to Get Back at Retailers

We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.

Hosted by Sarah Holder; Produced by Julia Press; Reported by Amanda Mull; Edited by Naomi Shavin.

Fact-checking by Laura Newcombe; Engineering by Sean Carter.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

American consumers disputed nearly 30% more credit card transactions in 2025 than they did just four years earlier. Some of those &ldquo;chargebacks&rdquo; are legitimate issues or outright scams. But increasingly, many are what Bloomberg Businessweek reporter Amanda Mull says is friendly fraud &mdash; transaction disputes that aren&rsquo;t completely honest or the retailer&rsquo;s fault.
On today&rsquo;s Big Take podcast, Mull joins host Sarah Holder to discuss the sharp rise in chargebacks, and the consequences of this trend for retailers, banks and consumers.
Read more: <a href="https://www.bloomberg.com/news/articles/2026-07-13/credit-card-holders-are-using-friendly-fraud-to-get-back-at-retailers?srnd=homepage-americas">Credit Card Holders Are Using &lsquo;Friendly Fraud&rsquo; to Get Back at Retailers</a>
We have a special Bloomberg subscription offer for podcast listeners at <a href="https://www.bloomberg.com/subscriptions/podcasts">Bloomberg.com/podcastoffer.</a>
Hosted by Sarah Holder; Produced by Julia Press; Reported by Amanda Mull; Edited by Naomi Shavin.
Fact-checking by Laura Newcombe; Engineering by Sean Carter.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

One Weird Trick to Get Your Credit Card Charge Reversed? Fraud.

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/501ec796-7e02-4eb3-9bce-b49101130e7f/transcript

After the pandemic-era run on medical gloves, the US government set a plan in motion to reshore manufacturing. Roughly six years and almost $1 billion later, America is once again facing potential shortages ofmedical gloves because of supply chain disruptions stemming from the war in Iran.

On today’s Big Take podcast, host Sarah Holder and health care industry reporter Anna Edney break down why US efforts to make American medical gloves have largely failed, what it says about reshoring manufacturing writ large and where the industry goes from here. 

Read more: Almost $1 Billion Later, the US Still Can’t Make a Medical Glove

We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.

Hosted by Sarah Holder; Produced by Laura Newcombe and Rachael Lewis-Krisky; Reported by Anna Edney; Edited by Naomi Shavin. Fact-checking by Victor Swezey; Engineering by Sean Carter. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

After the pandemic-era run on medical gloves, the US government set a plan in motion to reshore manufacturing. Roughly six years and almost $1 billion later, America is once again facing potential shortages of medical gloves because of supply chain disruptions stemming from the war in Iran.
On today&rsquo;s Big Take podcast, host Sarah Holder and health care industry reporter Anna Edney break down why US efforts to make American medical gloves have largely failed, what it says about reshoring manufacturing writ large and where the industry goes from here.&nbsp;
Read more:&nbsp;<a href="https://www.bloomberg.com/news/features/2026-07-07/why-it-s-so-difficult-to-produce-100-american-made-medical-gloves">Almost $1 Billion Later, the US Still Can&rsquo;t Make a Medical Glove</a>
We have a special Bloomberg subscription offer for podcast listeners at&nbsp;<a href="https://www.bloomberg.com/subscriptions/podcasts">Bloomberg.com/podcastoffer.</a>
Hosted by Sarah Holder; Produced by Laura Newcombe and Rachael Lewis-Krisky; Reported by Anna Edney; Edited by Naomi Shavin. Fact-checking by Victor Swezey; Engineering by Sean Carter. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

Almost $1 Billion Later, the US Still Can’t Manufacture Medical Gloves

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/679ed492-c438-435c-8333-b490015923e6/transcript

How did Tether — the largest stablecoin issuer in the world — go from fighting stablecoin regulation to supporting the Genius Act? That’s the subject of a new Bloomberg News investigation into how Trump insiders helped to loosen safeguards and shape the process that led to the law in ways that benefitted the company.

On today’s Big Take podcast, Bloomberg’s Anthony Cormier and David Kocieniewski detail their reporting for host Sarah Holder, including how US Commerce Secretary Howard Lutnick, according to court filings, ‘managed to kill’ less favorable legislation before taking office, and how former White House aide Bo Hines defended a provision Tether wanted – before going to work for the company.

Read more: How Tether Benefited as Trump Insiders Shaped First US Crypto Law

Further listening: Meet Tether, The Most Powerful Crypto Firm You’ve Never Heard Of

We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.

Hosted by Sarah Holder; Produced by David Fox; Reported by Anthony Cormier, David Kocieniewski and Annie Massa; Edited by Aaron Edwards, Tracey Samuelson.

Fact-checking by Rachael Lewis-Krisky; Engineering by Emma Munger, Alex Sugiura.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

How did Tether &mdash; the largest stablecoin issuer in the world &mdash; go from fighting stablecoin regulation to supporting the Genius Act? That&rsquo;s the subject of a new Bloomberg News investigation into how Trump insiders helped to loosen safeguards and shape the process that led to the law in ways that benefitted the company.
On today&rsquo;s Big Take podcast, Bloomberg&rsquo;s Anthony Cormier and David Kocieniewski detail their reporting for host Sarah Holder, including how US Commerce Secretary Howard Lutnick, according to court filings, &lsquo;managed to kill&rsquo; less favorable legislation before taking office, and how former White House aide Bo Hines defended a provision Tether wanted &ndash; before going to work for the company.
Read more: <a href="https://www.bloomberg.com/features/2026-howard-lutnick-bo-hines-trump-tether-crypto-law/">How Tether Benefited as Trump Insiders Shaped First US Crypto Law</a>
Further listening: <a href="https://podcasts.apple.com/us/podcast/big-take/id1578096201?i=1000760323601">Meet Tether, The Most Powerful Crypto Firm You&rsquo;ve Never Heard Of</a>
We have a special Bloomberg subscription offer for podcast listeners at&nbsp;<a href="https://www.bloomberg.com/subscriptions/podcasts">Bloomberg.com/podcastoffer.</a>
Hosted by Sarah Holder; Produced by David Fox; Reported by Anthony Cormier, David Kocieniewski and Annie Massa; Edited by Aaron Edwards, Tracey Samuelson.
Fact-checking by Rachael Lewis-Krisky; Engineering by Emma Munger, Alex Sugiura.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

The Trump Insiders Who Shaped Crypto Law

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/01ed200d-d9bc-433b-94e9-b48f014ee4f7/transcript

The Genius Minds Behind the World’s Best Poker Bots

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