Episodes

  • The Binance hack: how $6.3 billion left an exchange

    The Binance hack: how $6.3 billion left an exchange
    2 Nov 2026
    Binance, the world's largest crypto exchange, says about 6.3 billion dollars was taken from its wallets on 29 October, most of it in about twenty minutes. We explain how hot wallets and signing keys work, why the theft happened, and why only some of the money could be frozen. Sources: TRM Labs blog (30 Oct 2026); Al Jazeera (30 Oct 2026); RTE (30 Oct 2026). These are secondary reports: Binance has not published a root cause, attribution to North Korea is an assessment by analysts, and withdrawal status may have changed. Explanation only, not investment advice. Narrated by an AI-generated version of Mittal Shah's voice.
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    5 min
  • Anthropic's listing: what the risk factors say

    Anthropic's listing: what the risk factors say
    1 Nov 2026
    Anthropic has filed publicly to list its shares on the Nasdaq. Its paperwork shows about 16 billion dollars of revenue and about 80 billion dollars of losses in the first half of 2026, mostly a non-cash accounting entry. We explain why, and what the company says could go wrong. Related earlier episode: Big AI spending, when does it pay back? (https://darshanhshah.github.io/shah-spectrum-podcast/episodes/shah-spectrum-007-ai-spending.mp3). Sources: Fortune, 26 Oct 2026; Motley Fool, 29 Oct 2026; Forbes, 29 Oct 2026; tastytrade, updated 26 Oct 2026; Tech Insider, 26 Oct 2026; TechPowerUp. The figures come from press coverage of the filing, not the filing itself, and the listing is not confirmed. Anthropic makes Claude, the AI assistant used to help prepare this show. Explanation only, not investment advice. Narrated by an AI-generated version of Mittal Shah's voice.
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    5 min
  • RBI squeezes rupee liquidity: what it means for India

    RBI squeezes rupee liquidity: what it means for India
    29 Oct 2026
    The RBI is defending the rupee by making cash scarce, not only by selling dollars. We explain the higher cash reserve requirement, why bank liquidity has shrunk, and why borrowing at home is getting costlier. Related earlier episodes: forex reserves (https://darshanhshah.github.io/shah-spectrum-podcast/episodes/shah-spectrum-003-forex-reserves.mp3) and FPI outflows (https://darshanhshah.github.io/shah-spectrum-podcast/episodes/shah-spectrum-005-fpi-outflows.mp3). Sources: RBI notification of 9 Oct 2026; Business Standard (Bloomberg) 28 Oct 2026; Elets BFSI 28 Oct 2026; SCC Online 9 Oct 2026. The liquidity figure is a Bloomberg Economics estimate, and the RBI has not stated its aim; prices and rates change daily. Explanation only, not investment advice. Narrated by an AI-generated version of Mittal Shah's voice.
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    4 min
  • Hormuz and oil: what it means for India

    Hormuz and oil: what it means for India
    29 Oct 2026
    The Strait of Hormuz has been disrupted since 28 February, and oil is still above 100 dollars a barrel. We explain why the strait matters, what Iran and the US each want before it fully reopens, and what it means for India's import bill. Sources: US Energy Information Administration, Today in Energy (16 Jun 2025); Reuters via BusinessDay (27 Oct 2026); DiscoveryAlert (28 Oct 2026); Down To Earth (26 Aug 2026); Free Press Journal (27 Aug 2026). Iran's conditions come from Iranian media and the US response is unpublished; prices change daily. Explanation only, not investment advice. Narrated by an AI-generated version of Mittal Shah's voice.
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    4 min
  • Southeast Asia's haze: what it costs

    Southeast Asia's haze: what it costs
    27 Oct 2026
    Smoke from Indonesia's fires has again reached Malaysia, Singapore and beyond. We explain what is burning, how smoke turns into a cost for schools, workplaces and hospitals, and why the question of who pays is still mostly unanswered. Sources: Copernicus/EU Space image of the day (20 Oct 2026); Down To Earth (21 Oct 2026); Eco-Business (16 Oct 2026). Cost figures are early estimates and burned-area figures are from one unconfirmed satellite analysis. Explanation only, not investment advice. Narrated by an AI-generated version of Mittal Shah's voice.
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    5 min
  • Big AI spending: when does it pay back?

    Big AI spending: when does it pay back?
    25 Oct 2026
    Microsoft, Alphabet, Amazon and Meta are spending hundreds of billions of dollars on computers for artificial intelligence. We explain why, what the cloud growth numbers show, and what would count as the money paying back. Sources: Meta Q2 2026 results release, SEC filing (Exhibit 99.1); Alphabet and Amazon Q2 2026 earnings call transcripts (Amazon call 7 Aug 2026); UpperEdge cloud growth summary (13 Aug 2026); Schwab market commentary (23 Oct 2026). Figures are company statements and plans, which can change. Explanation only, not investment advice. Narrated by an AI-generated version of Mittal Shah's voice.
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    4 min
  • Tesla and SpaceX are studying a merger

    Tesla and SpaceX are studying a merger
    23 Oct 2026
    Tesla and SpaceX have each set up a committee of independent directors to look at a possible merger. We explain what was said on SpaceX's earnings call, why Elon Musk says AI is the reason, and why control and a high shareholder vote make this far from simple. No deal, price or timetable has been announced. Sources: Axios (20 Oct 2026), Gizmodo, CBS News, Euronews (22 Oct 2026), Electrek (19 Oct 2026); company filings not opened. Explanation only, not investment advice. Narrated by an AI-generated version of Mittal Shah's voice.
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    4 min
  • Foreign investors and Indian shares

    Foreign investors and Indian shares
    22 Oct 2026
    Foreign investors have sold about 3.1 lakh crore rupees of Indian shares in 2026 so far, nearly double last year. We explain who they are, why they are selling, and what it means for India. Sources: Swarajya (18 Oct 2026), Angel One (12 Oct 2026), AIR News (11 Oct 2026), Tribune India (21 Jul 2026). Figures as reported from depository data. Explanation only, not investment advice. Narrated by an AI-generated version of Mittal Shah's voice.
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    4 min