The three technologies disrupting the global order: The great Austrian economist Joseph Schumpeter argued that you could spot a fundamental economic transition by the arrival of new types of goods, new production methods, and new forms of industrial organization. The spread of cheap drones, phones, and solar checks all of these boxes. Mark Blyth + Daniel Driscoll
Trump’s tariffs are a massive money grab. That’s why they are in trouble. The president has exercised tax and spending powers that belong to Congress. The Supreme Court might be ready to say “enough.” WSJ
Trump’s tariffs may not please the court: The government’s claims in defense of the emergency border taxes don’t stand ‘major questions’ scrutiny. WSJ-Editorial
White House tells Supreme Court it doesn’t care about the tariff money raised: President Donald Trump has repeatedly boasted that the government is making a “fortune.” WP
Why manufacturing’s last boom will be hard to repeat: The industrial golden age in the middle of the last century resulted from a convergence of factors unique to that time. WSJ
China bans foreign AI chips from state-funded data centres, sources say: The Chinese government has issued guidance requiring new data centre projects that have received any state funds to only use domestically-made artificial intelligence chips, two sources familiar with the matter told Reuters.
Inside Gaza, BBC sees total devastation after two years of war: The Gaza of maps and memories is gone, replaced by a monochrome landscape of rubble stretching flat and still for 180 degrees, from Beit Hanoun on one side to Gaza City on the other. BBC
AP: Israeli jets strike southern Lebanon towns, escalating near-daily attacks
Syria: The White House is preparing to deploy the United States military to an air base in the Syrian capital of Damascus to help shore up a potential security pact between Syria and Israel that US President Donald Trump is currently brokering, according to a new report.
AP: Sudan’s paramilitary group agrees on truce proposed by US-led mediator group
Donald Trump steps up military threats against Nigeria over attacks on Christians: Nigerians say claims of religious persecution are false but blame government for inaction over violence. FT
Russia close to its biggest capture of a Ukrainian city since 2023: NYT reports the Kremlin is focusing its fire on Pokrovsk, a gateway to the Donetsk region, which Russia’s president, Vladimir V. Putin, has long coveted.
Russian forces in Ukraine near first major conquest in more than two years: WSJ reports Russia is betting that its military machine will eventually overwhelm its western neighbor, and that battle is playing out in the southeastern Ukrainian city of Pokrovsk.
As Pokrovsk is set to fall, Ukraine must choose to fight or save troops: WP reports Pokrovsk has been a bastion of resistance, and Russia taking it would be a propaganda win, but experts say it is time to withdraw and save lives for future battles.
AFP: With war next door, Poland seeks to train 500,000 volunteers to reinforce defense
+ @sebs_tweets: 2032 will be the 200 year anniversary of the Great Reform Bill - when Britain, on the verge of revolution and collapse, was forced to finally address systemic issues in the way the country was run. I wonder if we are going to see history repeat itself.
Swiss plan to cap population at 10m by halting immigration: The Times reports:‘Our little country’ is being overrun, say the proposal’s advocates — while critics warn of damage to the economy and national security.
Macron is France’s ‘worst’ president. Just ask his old mentor. The French leader is a narcissist who is in denial of reality, argues Alain Minc. Politico
Japan’s Iron Lady: Japan’s first female prime minister, Takaichi Sanae, presents herself as a leader who can be tougher than the men. This, combined with her hawkish views on immigration and defense, suggests that Takaichi will not use her position to help other women crack the glass ceiling. Ian Buruma
China-US deal to ease rare-earth controls hits snag over scope: Nikkei reports regional authorities contradict claims that measures from April will be halted.
American soybean farmers 'cautiously optimistic' after US-China truce: Nikkei reports despite Beijing's removal of tariffs, US crop still costlier than South American grains.
Milei halts decade-long Chinese radio-telescope project in Argentina’s west: BAT reports US-leaning administration of President Javier Milei ends a decade-long scientific cooperation project; Cancellation of the China-Argentina Radio Telescope in San Juan seen as part of foreign policy shift.
Sexual assault of the president exposes Mexico’s endemic machismo: NYT reports President Claudia Sheinbaum was groped on the street this week, in an episode that set off a national conversation about what has and has not changed since Mexico elected its first female leader.
Russia ramps up rhetoric over US threats to Venezuela: A senior offical has suggested deploying hypersonic missiles to support President Maduro’s regime, as the Kremlin warns Washington over it’s naval build-up. The Times
WP: Senate readies war powers vote to oppose Trump’s Venezuela threats
CNN: Trump admin tells Congress it currently lacks legal justification to strike Venezuela
Trump has the legal power to bomb drug boats: But Congress can stop it by constitutional means—namely by employing the power of the purse. Nicholas B. Creel
+ Three-quarters of Americans oppose presidential use of military force overseas without approval from Congress, according to a new poll conducted by the Institute for Global Affairs at the Eurasia Group. That includes some 94 percent of Democrats and half of Republicans.
Nobel Peace Prize winner: US escalation is ‘only way’ to free Venezuela: Opposition leader María Corina Machado talks about life in hiding, the fight for democracy, and unconventional regime change. Bloomberg
America’s plans for a Golden Dome are dangerously obscure: Without clarity, the missile shield risks becoming a costly, destabilising white elephant. Economist
Flight-cancellation plans prompt scramble across travel industry: WSJ reports US transportation officials revealed plans to cut air traffic at 40 airports by as much as 10% starting Friday.'
Nation’s busiest airports face FAA’s cut in flights, initial list shows: WP reports the preliminary list of flight reductions will affect 40 high-traffic airports. The Trump administration says the order is aimed at easing pressure on air traffic controllers as the government shutdown drags on.
Trump administration must fully fund SNAP benefits for November, judge rules: WSJ reports the order directs the government to deliver the money by Friday for federal food-assistance benefits that have been delayed by the shutdown.
Senate considers revised plan to end government shutdown: WSJ reports apparent progress toward resolving the impasse comes as airport woes grow.
Bloomberg: Lilly, Novo to lower obesity drug prices in deal with Trump
Congressional Budget Office believed to be hacked by foreign actor: WP reports the nonpartisan office makes economic projections for lawmakers and evaluates legislation for how much it would add or subtract from the national debt. The breach potentially exposes key financial data.
BBC: Nancy Pelosi announces retirement after decades in US Congress
Guardian: ‘Iconic, heroic, trailblazing’: Democrats praise Pelosi’s work after she announces plan to retire
Former House Speaker Nancy Pelosi to retire from Congress: Democratic lawmaker won’t run for re-election for her House seat representing San Francisco. WSJ
Pelosi plans to retire in 2027 after 39 years in Congress: NYT reports Representative Nancy Pelosi, the only female House speaker, said she will not run for re-election. She wielded immense power and became a Democratic icon, while she was demonized by conservatives.
Nancy Pelosi is an American political giant John A. Lawrence
Spanberger’s unlikely journey from the CIA to VA’s first female governor: The former House member ran a centrist campaign focused on affordability, health care, and education, providing a potential road map for other Democrats. WP
Democrats take the night: The party swept the three big races, notched major ballot initiatives, and even broke a state GOP supermajority in Mississippi. There’s a message here for Donald Trump and Republicans. Kimberley A. Strassel
How Gavin Newsom struck the year’s heaviest blow against Trump Ed Kilgore
Trump’s GOP is losing independents: The 2025 election results spell doom for Republicans in 2026 if they don’t get serious about the economy. Matthew Continetti
Ranking the 2028 Democratic presidential contenders: There already are a few standouts among Democrats’ potential 2028 candidates, but the long road to the next presidential contest features plenty of dark horses. WP
Stefanik to launch campaign to challenge Gov. Hochul in New York: NYT reports Elise Stefanik, a Republican congresswoman, is a leading ally of President Trump who has gone to great lengths to criticize Ms. Hochul and Mayor-elect Zohran Mamdani.
America’s future is being sacrificed for short-term “wins”: Despite a tumultuous year, markets continue to bet on American liquidity and growth. But while the outlook looks promising, the United States is systematically trading strategic advantages for tactical gains, and the costs are accumulating in ways that won’t become apparent until it’s too late. Ian Bremmer
Holiday spending will surpass $1 trillion this year and set a record despite consumer caution, according to a forecast by the National Retail Federation. Consumers plan to spend nearly $900 per person on average this year, while retail sales are expected to increase in a range of 3.7% to 4.2% from a year earlier, according to the group.
A pill is raising hope for one of the deadliest cancers. WP reports the question is how fast patients should get it. Revolution Medicines received an unconventional FDA fast-track designation for its experimental drug based on early clinical trial results.
Bloomberg: Sweetgreen sells robotics unit to Wonder for $186 million
Airbnb issued a better-than-expected outlook for the holiday quarter, citing strong demand as US travelers used its "reserve now, pay later" feature to book trips in advance.
Bloomberg: Washington Post says it was impacted by Oracle product breach
The age of anti-social media is here: The social-media era is over. What’s coming will be much worse. Damon Beres
How AI and social media contribute to ‘brain rot’: AI search tools, chatbots, and social media are associated with lower cognitive performance, studies say. What to do? NYT
AI pioneers claim human-level general intelligence is already here: Tech leaders say systems now rival human intelligence in key tasks, further fuelling the superintelligence debate. FT
Are AI therapy chatbots safe to use? Psychologists and technologists see them as the future of therapy. The Food and Drug Administration is exploring whether to regulate them as medical devices. NYT
These AI power users are impressing bosses and leaving co-workers in the dust: Rank-and-file employees are jockeying to become leading adopters of artificial intelligence. WSJ
Don’t blame AI for your job woes: The white-collar chill has more to do with the economy than with tech. Economist
Who’s right about AI: Economists or technologists? Forecasting the impact of artificial intelligence has become fraught, with evangelists pitched against sceptics. John Thornhill
OpenAI Chief Executive Officer Sam Altman pushed back at the idea that the company would seek federal guarantees to reduce the risk of its AI infrastructure spending spree, one day after a top executive at the ChatGPT maker suggested there may be a role for the government to help finance the technology.
OpenAI CEO says US shouldn’t bail out AI companies: WSJ reports comments come after OpenAI’s CFO discussed the role of government in potentially backstopping industry growth, at the WSJ Tech Live conference.
OpenAI races to quell concerns over its finances: NYT reports the AI company faced pushback after a top executive raised the idea of government aid, amid concerns that the AI industry is headed toward a dangerous bubble.
+ @pmddomingos: Sam Altman's core competencies are manipulating investors and manipulating tech nerds.
What the US government can do to help win the AI race: Michael Kratsios on how the Trump administration views the government’s role in promoting AI—and where regulation fits into that vision. WSJ
IBM to cut thousands of workers amid AI boom: NYT reports the technology supplier said it was shifting its focus to higher-growth businesses, including AI consulting and software.
Bloomberg: IBM to cut thousands of roles in focus on software growth
Zuckerberg, Chan charity pivots from social causes to AI cures for diseases: WP reports that, after backing away from its criminal justice, education, and affordable housing programs, the Chan Zuckerberg Initiative said it will aim to prevent and cure diseases by capitalizing on advances in artificial intelligence.
Bloomberg: Global AI bubble burst may aid flows into Indian equities
AI wants our water: While much of the AI debate focuses on its economic potential, its expanding physical footprint tells a different story. The machines driving this revolution depend on a resource far older – and far more contested – than data or electricity. Friederike Rohde + Paz Peña
Bloomberg: UK grid overwhelmed by data-center requests for connections
British Airways has signed a deal with SpaceX to make Starlink internet available to every passenger at no cost, starting in 2026.
Taco Bell customers can now pay with Venmo.
Ford considers scrapping electric version of F-150 truck: WSJ reports once hyped as a ‘smartphone that can tow,’ production of the money-losing EV pickup may be shut down for good.
Tesla shareholders approve Elon Musk's $1 trillion pay package: WSJ reports the new package, which includes 12 chunks of stock, could give Musk control over as much as 25% of Tesla if he hits a series of milestones.
Elon Musk wins $1 trillion pay package tying him to Tesla for a decade: WP reports in an era of skyrocketing CEO pay, the award is unprecedented. The deal sets up Elon Musk to become the world’s first trillionaire.
Orvis, an outdoor retailer that’s been in business for 169 years, is closing dozens of stores as it deals with economic pressures caused by tariffs. The company says it will close 31 locations, along with five outlet stores by early 2026, Fox Business reports.
WP: Peloton recalls 833,000 bikes due to a risk of broken seats
ESPN + Penn Entertainment are ending their sports betting partnership.
Dallas Cowboys’ Marshawn Kneeland dies in apparent suicide after police chase: WSJ reports the second-year defensive end was found dead from an apparent self-inflicted gunshot wound, officials said. He was 24 years old.
The dark arts behind the NFL’s record-shattering kicking season: This offseason, the NFL made a small tweak to the rules governing so-called “K-Balls.” It’s led to a year of supercharged kicking. WSJ
Toronto Star: Prince Harry apologizes to Canada for wearing Dodgers hat during World Series
Hamilton dismisses Ferrari exit claims: AFP reports Lewis Hamilton on Thursday dismissed claims that he may not be racing for Ferrari beyond next year after a hugely disappointing 2025 season following his move from Mercedes.
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
Caracal Daily | November 7
