Anthropic and SpaceX get charitable

SPEAKER_1 (0:00)

Running a business is hard enough, so why make it harder with a dozen different apps that don't talk to each other? Introducing Odoo, the only business software you'll ever need. It's an all-in-one, fully integrated platform that makes your work easier, from CRM, accounting, inventory, e-commerce and more. And the best part, Odoo replaces multiple expensive platforms for a fraction of the cost. This is why over thousands of businesses have made the switch, so why not you?

Try Odoo for free at odoo.com. That's odoo.com.

SPEAKER_2 (0:30)

Programming is supported by Stoll Reeves, a leading US corporate and litigation law firm providing sophisticated business clients high-quality legal services with offices in seven states and Washington, DC.

Stoll Reeves is a nationally recognized leader in project finance and natural resources industries. From deals and disputes to compliance and counseling, clients turn to Stoll Reeves for their most complex business challenges. Learn more at stoll.com.

Kimberly Adams (1:01)

Tech companies are promising big giveaways, but for whose benefit? And why corporate brands outside the music industry are releasing their own albums?

From Marketplace in Washington, I'm Kimberly Adams. We're expecting quarterly earnings from big tech firms this week, but some are already making news in other ways. Anthropic announced on Sunday that the company would donate 5% of its shares to go into a new public benefit fund. And just after Anthropic's announcement, Elon Musk said he's going to give shares of SpaceX to every kid in the United States next year. Marketplace's Samantha Fields has more.

Samantha Fields (1:38)

A share of SpaceX is currently worth about $150. So if Elon Musk does give one to every kid in America, Ray Madoff at Boston College Law School says he'd be giving away roughly $10 billion worth of stock.

Ray Madoff (1:53)

If he does it through a charitable vehicle, his donation could save him taxes equal to about $7 billion.

Samantha Fields (2:02)

Plus, there's good PR. So she says Musk and SpaceX would ultimately benefit more from this than anyone who gets one share.

Ray Madoff (2:11)

What's this $150 worth of SpaceX stock going to really do for anybody? Nothing.

Samantha Fields (2:17)

With Anthropic's Public Benefit Fund, Stephen Dean at Boston University School of Law says, it's hard to know whether or how anyone will benefit.

Stephen Dean (2:26)

You got to read the fine print.

Samantha Fields (2:27)

The fact that Anthropic is setting up a limited liability company and not a non-profit foundation means it won't actually be required to give any money away.

Stephen Dean (2:37)

Even foundations are only required to give away 5 percent of their assets every year, and so this would be not required to do anything at all.

Samantha Fields (2:45)

In fact, Dean says Anthropic could take all the money back at some point if it chose. I'm Samantha Fields for Marketplace.

SPEAKER_1 (3:08)

Running a business is hard enough, so why make it harder with a dozen different apps that don't talk to each other? Introducing Odoo, the only business software you'll ever need. It's an all-in-one, fully integrated platform that makes your work easier, from CRM, accounting, inventory, e-commerce and more. And the best part, Odoo replaces multiple expensive platforms for a fraction of the cost. This is why over thousands of businesses have made the switch. So why not you?

Try Odoo for free at odoo.com. That's odoo.com.

SPEAKER_7 (3:39)

Vantage score, the modern credit score used by 3,700 institutions, including 9 of the top 10 banks. Using over 400% more data than legacy credit scores and built with trended and alternative data, Vantage score is more predictive, scoring 33 million more consumers than conventional credit scores. Now accepted by Fannie Mae and Freddie Mac for conforming mortgages, Vantage score 4 safely unlocks approximately 2.7 million new mortgages and up to $1 trillion in new loans. Better credit score, better data, better mortgage decisions. Vantage score.com.

Kimberly Adams (4:15)

Elf Beauty has released their second album. And yes, you heard that right. The Cosmetic Company has an album of original music titled Mirror Mix.

And Elf isn't the only corporate brand branching into music. Fast food chain Wendy's released an album. The company, known for the Frosty, dropped songs to listen to in a Wendy's parking lot, featuring several pop, punk and emo artists. Even California-based Blue Bottle Coffee also released a contemporary jazz record on vinyl. To explain what these brands are trying to get at, we're joined by Dan Runcie, CEO at Trapital. Dan, great to have you back on the program.

Dan Runcie (5:00)

Kimberly, thanks for having me.

Kimberly Adams (5:02)

Dan, I wanna start by playing one of the songs off an album from Wendy's. Here is My Frosty's Funeral from vocalist Cat Leon and The Holy Wars.