In February, Glauber Contessoto invested his life savings in dogecoin, a cryptocurrency that started as a joke. But his gains are for real. He now owns more than $800,000 in dogecoin. Marketplace’s Matt Levin chats with Contessoto about the HODL — or “hold on for dear life” — mentality that keeps him and other investors in the crypto game despite incredible volatility. Also on today’s program: Why exports surged in October, what’s behind the battle for speedy grocery deliveries and the transition away from fossil fuels takes center stage at the World Petroleum Congress.
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How this investor became the “slumdoge millionaire”

Every weekday, host Kai Ryssdal helps you make sense of the day’s business and economic news — no econ degree or finance background required. “Marketplace” takes you beyond the numbers, bringing you context. Our team of reporters all over the world speak with CEOs, policymakers and regular people just trying to get by.

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Warehouses and cargo-moving companies spent a few weeks in limbo after the Baltimore bridge collapse. Now, they’re working hard to reroute goods that usually went through the city’s port, with some truckers driving far and wide to pick up freight redirected to other cities. In this episode, how one cargo transportation company is adjusting. Plus, who will hurt the most from a cap on credit card fees, what economic data the Fed is keeping an eye on this week, and why desk phones are disappearing.

Keep on truckin’

People with certain federal student loans have until Tuesday to consolidate them and qualify for debt cancellation. The Department of Education is reviewing over 40 million loan accounts and issuing credit for past payments that previously didn’t count toward forgiveness. Also in this episode: a look at the latest inflation reading, Americans’ savings habits and pop-up coworking spaces.

A looming deadline for student loan forgiveness

Gross domestic product grew by 1.6% in the first quarter, slower than expected after the six-quarter steak of 2% growth or more. How will the Federal Reserve respond to this data when making its next interest rate decision? Also in this episode: The new deep-water channel helping cargo ships leave the Port of Baltimore, protecting trade secrets with noncompete agreements, and the struggling pneumatic tube business gets a boost from the cannabis industry.

GDP grows more slowly than expected

Today, President Joe Biden took a decisive step by signing a bill that could ban TikTok in the U.S. unless its Chinese owner, ByteDance, divests from the company within nine months. This move echoes a long history of limiting foreign ownership of communications companies, dating back to the founding of this country. Also in this episode: Boeing’s financial woes, the NBA’s media bidding war and New England’s free college frenzy.

Clock starts on TikTok ban

Expand, slow down, contract and recover. Businesses tend to make decisions based on what stage of the business cycle the economy’s in. The problem is, that doesn’t work so well anymore. We’ll get into it. Also: The hot U.S. dollar causes trouble overseas, college grad unemployment is up, and what other food programs can learn from WIC.

How this investor became the “slumdoge millionaire”

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