Episodes

  • The fight for a legendary shipwreck's treasure

    The fight for a legendary shipwreck's treasure
    Feb 7 2025
    The San Jose was a marvel of 17th century technology. The Spanish galleon weighed more than a thousand tons, was made of wood reinforced with iron, and featured three masts and 64 cannons. In its cargo were gold, silver, silk and porcelain. But in 1708, it sank after a battle with an English ship near what is now Colombia.

    For centuries, the shipwreck was the stuff of legends, until 2015 when underwater investigators found what they believed to be the San Jose's wreckage. The treasure on board this ship could be worth billions of dollars. But who owns it? Today on the show, four groups stake their claims to the wreck of the San Jose. Those claims reveal a lot about who has a say over the bottom of the sea and how we can begin to untangle the complicated legacy of colonialism.

    This episode of Planet Money was hosted by Erika Beras and Mary Childs. It was produced by Sam Yellowhorse Kesler with reporting help from Willa Rubin and edited by Keith Romer. It was fact-checked by Sierra Juarez and engineered by Neil Rauch with help from Robert Rodriguez. Alex Goldmark is Planet Money's executive producer.

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    23 mins
  • How the scratch off lottery changed America

    How the scratch off lottery changed America
    Feb 5 2025
    Americans spend more on scratch lottery tickets per year than on pizza. More than all Coca-Cola products. Yet the scratch ticket as a consumer item has only existed for fifty years. Not so long ago, the idea of an instant lottery, of gambling with a little sheet of paper, was strange. Scary, even.

    So, how did scratch lotteries go from an idea that states wanted nothing to do with, to a commonplace item? It started in a small, super-liberal, once-puritanical state: Massachusetts. Adults there now spend – on average – $1,037 every year on lottery tickets – mostly scratch tickets. On today's episode, a collaboration with GBH's podcast Scratch & Win, we hear the story of... the scratch-off lottery ticket!

    This episode was hosted by Ian Coss and Kenny Malone. Scratch & Win from GBH is produced by Isabel Hibbard and edited by Lacy Roberts. The executive producer is Devin Maverick Robins. Our version of the podcast was produced by James Sneed. It was edited by Alex Goldmark, engineered by Valentina Rodríguez Sánchez, and fact-checked by Sierra Juarez. Alex Goldmark is Planet Money's executive producer.

    Help support     Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

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    30 mins
  • How DeepSeek changed the market's mind

    How DeepSeek changed the market's mind
    Feb 1 2025
    On Monday, the stock market went into a tizzy over a new AI model from Chinese company DeepSeek. It seemed to be just as powerful as many of its American competitors, but its makers claimed to have made it far more cheaply, using far less computing power than similar AI apps like ChatGPT, Claude, or Gemini. In one day, hundreds of billions of dollars were wiped off the valuations of companies related to AI.

    This week, investors seemed suddenly to change their minds about what our AI future would look like and which companies will (or won't) profit from it. Will we really need all those high-end computer chips, after all? What about power plants to provide electricity for all the energy-hungry AI data centers?

    On today's show – how DeepSeek might have changed the economics of artificial intelligence forever.

    This episode was produced by Willa Rubin with an assist from James Sneed. It was edited by Keith Romer and engineered by Neil Tevault. Research help from Sierra Juarez. Alex Goldmark is Planet Money's executive producer.

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    27 mins
  • Re-imagining the energy grid ... through batteries (Two Indicators)

    Re-imagining the energy grid ... through batteries (Two Indicators)
    Jan 29 2025
    When it comes to solar and wind power, renewable energy has always had a caveat: it can only run when the wind blows or the sun shines.

    The idea of a battery was floated around to make renewables available 24/7. For years, it existed as an expensive, little-used technology. Then in 2021, it took off.

    In this episode, we explore how this new energy market works in two states: California and Texas.

    In California, there is now enough grid-scale battery storage to power millions of homes — at least for a few hours — and it's growing fast. What does this success mean for the grid, and how did the state support it?

    Then, we visit Texas, whose approach is more free-market rodeo. The state has the second-most battery storage capacity in the U.S. And in Texas, their system was recently put to the test. So, can these large-scale batteries can help prevent blackouts?

    These two stories come from our sister show The Indicator, which recently reported a series about the electric battery market.

    Today's show was hosted by Cooper Katz McKim, Darian Woods and Wailin Wong. The original Indicator episodes were produced by Cooper Katz McKim and Corey Bridges, and edited by Kate Concannon. It was fact-checked by Sierra Juarez and engineered by Jimmy Keeley and Neil Tevault. Alex Goldmark is Planet Money's executive producer.

    Help support     Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

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    18 mins
  • The "chilling effect" of deportations

    The "chilling effect" of deportations
    Jan 25 2025
    After being sworn into office, President Trump signed a whole host of executive actions and orders that affirm his campaign promise to crack down on immigration.

    Trump's border czar has said Chicago is at the top of the list of places to be targeted. The city is expecting immigration raids, detentions and deportations. In the Little Village neighborhood, where the majority of residents are Mexican or of Mexican descent, people are on edge as they await what's next.

    Beyond the many people personally affected, past research suggests everyone could feel the impacts of mass deportation.

    On this episode of Planet Money we visit Little Village to see how the new administration is already having an impact. And then, we hear from an economist who looks to a recent chapter in mass deportation for insight into what the future could hold.

    Today's episode was hosted by Erika Beras and Amanda Aronczyk. It was produced by Willa Rubin with an assist from Emma Peaslee. It was edited by Kenny Malone, engineered by Cena Loffredo and fact-checked by Sierra Juarez. Alex Goldmark is our executive producer.

    Help support     Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

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    23 mins
  • After the fires

    After the fires
    Jan 23 2025
    The fires in Los Angeles are almost out. Residents are starting to trickle back into their burned-out neighborhoods. When they get to their houses, they face a series of almost impossible questions: Do we want to live here amongst all this destruction? And if we do, how do we even start?

    Today, we meet a father and son from Altadena who are confronting those choices. We pass through the National Guard checkpoints and enter the burn zone, where we see for ourselves all the challenges waiting for residents who want to rebuild. And we talk with an insurance adjuster about how the industry tries to value people's homes — and all of their possessions — after they have been reduced to rubble.

    For more on the California wildfires, check out our newsletter. We spoke with an economist who survived Oakland's wildfires in 1991 and has big ideas for how to rescue California from its insurance doom spiral.

    This episode of     Planet Money was hosted by Sarah Gonzalez and Nick Fountain. It was produced by James Sneed and edited by Keith Romer. It was fact-checked by Sierra Juarez and engineered by Neil Tevault with help from Gilly Moon. Alex Goldmark is Planet Money's executive producer.

    Help support     Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

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    25 mins
  • Tariffs, grocery prices and other listener questions

    Tariffs, grocery prices and other listener questions
    Jan 17 2025
    Donald Trump is just about to begin his second presidency. And it may be safe to say that every single person in America has at least one question about what's to come in the next four years.

    So, we thought we'd try to answer your questions — as best we can — about the economics of a second Trump term. Is now the time to shop for new tech? Can Trump actually bring down grocery and oil prices? And, does the president have the power to get rid of NPR?

    This episode of Planet Money was hosted by Amanda Aronczyk. It was produced by Emma Peaslee and edited by Meg Cramer. It was engineered by Neil Tevault and fact-checked by Sierra Juarez. Alex Goldmark is Planet Money's executive producer.

    Help support     Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

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    28 mins
  • The Land of the Duty Free (classic)

    The Land of the Duty Free (classic)
    Jan 15 2025
    (Note: This episode originally ran in 2018.)

    Is it really cheaper to shop at an airport Duty Free store? And why are so many of them alike?

    In the 1940s, if you were flying from New York City to London or Paris you would find yourself making a pit stop for fuel on the western coast of Ireland. The Shannon airport at the time wasn't much to look at, but the passengers arriving there were movie stars and celebrities, basically the super rich. And the people of Shannon realized pretty quickly that they needed to upgrade the local amenities for their wealthy clientele. They hired a man named Brendan O'Regan to make it happen. Being the quick-thinking entrepreneur that he was, O'Regan convinced the Irish government to create a tax loophole. And thus, duty free stores were born.

    Today on the show, we follow the surprising origin of duty free, and try to answer the question: Are they really saving you any money?

    Help support     Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

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    20 mins