The illiberal world order is here: Now that Donald Trump's administration has explicitly rejected the international rules-based institutions and arrangements that America created after World War II, the very idea of an international order is no longer relevant. The world now belongs to illiberal regimes intent on pursuing their own interests. Carl Bildt
The loneliness of America’s model ally: Donald Trump has no desire to play global cop. That is tough on Denmark, a loyal sheriff’s deputy. Economist
US may owe $1 trillion in refunds if SCOTUS cancels Trump tariffs: ARS reports tech industry primed for big refunds if SCOTUS rules against Trump tariffs.
AP: Trump dismisses criticism of Saudi Crown Prince over 2018 killing of journalist Jamal Khashoggi, says ‘things happen.’
Trump says Saudi leader knew nothing of journalist murder, rejecting CIA assessment: WSJ reports Jamal Khashoggi’s grisly murder in a Saudi consulate in Turkey in 2018 led to intense blowback in Washington. The CIA assessed that Saudi Crown Prince Mohammed bin Salman orchestrated the killing.
Trump defends Saudi crown prince over Khashoggi killing: WP reports the president said he did not hold Mohammed bin Salman responsible for the 2018 murder of Post columnist Jamal Khashoggi, despite a US intelligence report assessing the opposite.
DW: Saudi prince calls Khashoggi killing a 'mistake' on US visit
Bloomberg: US plans to approve sale of chips to Saudi AI venture Humain
Chinese agents using LinkedIn to target British MPs: Politico reports MI5 warns lawmakers China’s security ministry is “actively reaching out to individuals in our community” to “collect information and lay the groundwork for long-term relationships.”
Chinese spies targeting MPs with ‘large financial incentives’, MI5 warns: The Times reports MPs are told that Beijing is ‘relentless’ in trying to gain influence over members of the Commons and Lords.
How Chinese spies seek state secrets with LinkedIn ‘headhunters’: MI5’s decision to publicise the online targeting of parliamentary aides sends a clear message to Beijing: we know what you are doing. The Times
The growing problem with China’s unreliable numbers: Beijing’s GDP figures have drawn scrutiny for years but the questions have become more acute. FT
Xi’s university fuels China AI boom with more patents than Harvard or MIT: Tsinghua University has educated the country’s top science and engineering students for decades. Now, it’s at the forefront of the AI revolution. Bloomberg
China and Japan are in a vicious game of chicken over Taiwan: Neither side sees backing down as an option. Economist
From films to flights, Xi tests Japan’s stamina for a fight: Beijing has continued its tirade against Sanae Takaichi after she suggested Tokyo’s support for Taiwan in the event of a Chinese invasion. The Times
Japanese, Chinese diplomats spar over Taiwan row, signaling long standoff: Nikkei reports Tokyo refuses to retract PM comment, pushes back on Beijing warning against Japan travel.
Cutting ties with China is harder than companies expected: As US toymaker Learning Resources tries to wean itself from mainland producers, it’s discovering that it’s easier to move your factory out of China than it is to move China out of your factory. Bloomberg
Germany hopes new data centre can help bring 'digital sovereignty': AFP reports a new mega data centre is slated to rise in a rural stretch of eastern Germany in what backers hope is a starting point for a European AI sector that can compete with the United States and China.
Bloomberg: Macron says Germany, France seek to delay high-risk AI rules
+ Germany and France want to delay by a year provisions of the European Union’s AI Act that would regulate high-risk artificial intelligence systems, according to French President Emmanuel Macron.
+ Macron said it's necessary to use the time to accelerate the innovation agenda, and industry groups and companies have lobbied the EU's executive branch to freeze the rules until standards are adopted.
+ The European Commission will present a "digital omnibus" draft law to simplify data protection regulations and the AI Act, and requirements for high-risk AI systems are set to come into force next August if a delay is not agreed upon.
Europe aimed to set standards for tech rules, now it wants to roll them back: WSJ reports backed by France and Germany, the EU thinks easing back on legislation will boost growth and make the bloc less dependent on US tech.
Macron urges 'European preference' in tech to avoid becoming vassals of US or China: The French President called for Europe to build its own digital solutions and stop relying on American and Chinese tech giants. Le Monde
AFP: As Europe aims for "digital sovereignty", biomedical agentic AI could be the next big field
What NATO’s arms industry is learning from the battlefields of Ukraine: War has long been constrained by the moral and physical boundaries of soldiers. Now humanity is being removed from combat altogether. Toronto Star
TotalEnergies accused of 'complicity in war crimes' in Mozambique: Le Monde reports in the summer of 2021, Mozambican civilians were detained and tortured by soldiers guarding TotalEnergies's gas site. A non-governmental organization is challenging the responsibility of the French multinational company.
Toronto Star: One in five immigrants are leaving Canada. Data reveals these highly skilled newcomers are leading the exodus
Crime and economic woes push South American voters to the right: Reasons why South Americans are electing right-wing candidates this year differ in each country, but they’re all driving the region in the same political direction. BAT
Ecuador votes no to hosting US military base: NYT reports vote on Sunday rejected the expansion of a foreign military presence. It came as the US military’s campaign in waters near Latin America has been roiling the region.
Milei plans new US trip to meet Trump and attend 2026 World Cup draw: BAT reports Argentina’s President Javier Milei planning new trip to United States; He will attend World Cup 2026 draw at Kennedy Center and meet with US President Donald Trump.
A grand bargain with Venezuela: American forces won’t dislodge Maduro, but American diplomacy might. Francisco Rodríguez
Trump Team calls Maduro a ‘cartel’ boss. That word doesn’t mean what you think. Venezuelans coined a figure of speech for the phenomenon of generals corrupted by drug money: “Cartel de los Soles.” Then the United States started talking about it as a literal organization. NYT
Why the real target of Trump’s campaign in Venezuela is Cuba: The US president is amassing firepower in the Caribbean to force Maduro out, but the ultimate goal may be regime change in Havana. Telegraph
Can Venezuela count on any allies to help if the US attacks? American adversaries are unlikely to help President Nicolás Maduro of Venezuela fend off a concerted attack. But they have made toppling him harder. NYT
BBC: Venezuela's Maduro 'ready to talk' as US ramps up pressure
Axios: Senate passes bill to release Epstein files
Senate approves Epstein files bill, sending it to Trump’s desk: Politico reports the legislation passed the Senate by unanimous consent, with no debate.
ST: US House passes measure to force release of Epstein files in 427-1 vote
Congress passes bill to release Epstein files after lengthy fight: WSJ reports the Senate quickly approved the measure after a 427-1 vote in the House. President Trump had said he would sign the bill despite his long-standing objections.
Congress to send bill to Trump forcing disclosure of Jeffrey Epstein files: WP reports the House overcame a months-long impasse, and the Senate moved quickly to dispatch with the issue.
Miami Herald: Epstein turned to academic Noam Chomsky, others to rehab image after Herald investigation
Trump again threatens ABC's broadcast license, this time over Epstein questions: Politico reports Trump’s threat came after questions about whether he would order the files released without congressional consent, as well as those related to the 2018 assassination of a Washington Post columnist.
Trump threatens ABC News in Oval Office meltdown: AFP reports an infuriated Donald Trump threatened a US network's broadcast license Tuesday after its reporter asked questions about his family's business and the Jeffrey Epstein scandal at a high-profile White House event.
‘Quiet, piggy, ’ Trump tells reporter who asked about Epstein files: The Times reports the Bloomberg reporter, thought to be Catherine Lucey, has not commented on the exchange on board Air Force One.
Reuters: Trump approval falls to lowest of his term over prices and Epstein files, Reuters/Ipsos poll finds
CDC links measles outbreaks in multiple states for the first time: NYT reports that if the outbreaks cannot be extinguished by January, the anniversary of the first cases in Texas, the United States will lose what is known as “elimination status” as determined by the World Health Organization.
Trump administration announces steps to dismantle Education Department: NYT reports responsibilities for K-12 and college programs, among others, will be moved to other federal agencies.
Trump administration announces dismantling of parts of the Education Dept. WP reports President Donald Trump signed an executive order in March seeking to close the department, but only Congress has the power to do that.
Under Trump, immigrants are more fearful but determined to stay, poll finds: NYT reports a national survey found that half of all immigrants in the United States say they feel less safe since President Trump took office. Still, many say their future remains bright.
Texas’ new congressional map blocked by court: WSJ reports challengers succeeded in a bid to block the state’s move to add more Republican seats to the House.
Marjorie Taylor Greene’s big MAGA break-up: Defying the president over the Epstein files is her latest bust-up with the Republican Party. Economist
Marjorie Taylor Greene’s rebrand sends a message to MAGA: The Georgia lawmaker is using the Epstein vote to draw a line in the sand between herself and President Trump. Jessica Karl
It’s the cost of living, stupid: The MAGA agenda will only succeed if Americans feel material relief. Bridget Phetasy
Musk is back in politics. Does he want to stay a while? Having struck an uneasy truce with the president, Elon Musk is starting to make political appearances again, and his allies are planning a DOGE reunion party. NYT
Kamala Harris hits campaign trail in Tennessee special election: NYT reports on Tuesday, the former vice president made her first campaign appearance for another Democrat since leaving office.
Why Ford can’t find mechanics: Forget about reshoring manufacturing without more skilled workers. WSJ-Editorial
Bloomberg: US faces winter blackout risks from data centers’ power needs
US backs $1 billion loan to restart the Three Mile Island nuclear plant: WSJ reports Constellation Energy aims to bring the mothballed plant back to life to power a Microsoft AI agreement.
Bloomberg: Constellation gets $1 billion loan to open Three Mile Island nuclear plant
Alphabet-led AI project to shield New Zealand grid from outages: Bloomberg reports a consortium of four utilities serving a quarter of New Zealand will join an Alphabet Inc.-led initiative that uses artificial intelligence to fortify the country’s grid against failures caused by extreme weather or earthquakes.
Why today’s internet is so fragile Bloomberg
Rampant AI demand throws the memory chip market into turmoil: Nikkei reports supply constraints spark warnings of price rises and launch delays for consumer electronics.
Oracle is already underwater on its ‘astonishing’ $300bn OpenAI deal: FT reports AI’s circular economy may have a reverse Midas at the centre.
The AI bubble’s shaky math: Today’s massive and still-growing investments in AI and its accompanying infrastructure could well pay off like the internet did, following the investment boom of the late 1990s. But, for now, the gains from AI look more muted, and the macro downsides larger, than in the case of the dot-com bubble. Carl Benedikt Frey
BBC: Google boss says trillion-dollar AI investment boom has 'elements of irrationality'
Nvidia, Microsoft pour $15 billion into Anthropic for new AI alliance: WSJ reports Anthropic is committing to purchase $30 billion from Microsoft’s cloud-computing business, Azure.
Nvidia, Microsoft invest $15 billion in AI startup Anthropic: AFP reports Nvidia and Microsoft announced Tuesday investments totaling $15 billion in AI startup Anthropic, creator of the Claude chatbot, amid frenzied spending on the technology and growing fears of a bubble.
I invented the AI actress Tilly Norwood. She’s no threat to Hollywood: The UK-based former actress Eline van der Velden on the backlash to her ‘Bafta-optimised’ creation, the benefits of AI, and her plan to make Norwood interactive. The Times
Bloomberg: Google launches new Gemini AI model with interactive answers
+ Alphabet Inc.'s Google debuted an updated version of its artificial intelligence model, Gemini, that executives said represents a "massive jump" in reasoning and coding ability.
+ The new model, Gemini 3, can process text, images, and other media as well as solve complex science and math problems, and has dramatically improved its ability to reason and respond based on that input.
+ Gemini 3 will be available immediately across all of Google's major products, including search, and can answer questions with interactive graphics, and will be used to reply to the hardest queries in Google Search or AI Mode.
Google seeks to shake up chatbot race with new Gemini version: WSJ reports the new model could help the company leverage its built-in advantages of scale and profitability—if it can meet users’ expectations.
AI can empower the financial industry: Detecting subtle patterns in data will help America preserve its hard-won competitive edge. Eric Schmidt + Dimitris Tsementzis
Meta defeats FTC’s antitrust case alleging social-media monopoly: WSJ reports the ruling denies the agency’s attempt to force the Facebook parent to unwind its Instagram and WhatsApp acquisitions.
Meta wins major antitrust case as US judge rules no monopoly: AFP reports a US judge dismissed the federal government's antitrust lawsuit against Meta on Tuesday, ruling that the tech giant's acquisition of Instagram and Whatsapp did not constitute an illegal monopoly in social media.
Meta’s victory opens the way for Silicon Valley to go deal shopping: NYT reports that to avoid regulatory scrutiny, big tech companies had steered clear of buying start-ups outright. Meta’s antitrust win may change that thinking.
Bloomberg is looking for Africa’s standout startups: We want to know about the companies that are designing Africa’s future. Bloomberg
Crypto market sheds $1.2tn as traders shun speculative assets: FT reports Bitcoin drops 28% in six weeks amid concerns about lofty tech valuations and US interest rates.
Why crypto’s spectacular market success is going sour: The industry got everything it wanted. Now it’s sinking. Economist
The stablecoin threat: Far too little attention has been paid to the fact that stablecoins could erode governments' control over money and debt, fundamentally reshaping how modern economies manage inflation, stabilize markets, and finance public spending. By catering to a politically connected industry, the United States is playing with fire. Angus Armstrong + Dennis J. Snower
Anheuser-Busch InBev nears $700 million deal for party punch maker BeatBox: WSJ reports the owner of Michelob Ultra is in talks to buy boxed punch that has gained traction with younger drinkers.
French court says Perrier can keep marketing as 'natural mineral water': AFP reports a French court on Tuesday said Perrier can keep selling its famed sparkling beverage as "natural mineral water", rejecting a case brought by a consumer rights group that said the label was misleading and urged the suspension of sales.
Panera plans to spend millions on better sandwiches and nicer stores: WSJ reports a turnaround strategy for the sandwich-and-salad chain includes improving service and food. “No one likes iceberg,” said Paul Carbone, CEO of Panera Brands.
Bloomberg: The hot new Dubai restaurant run by an AI chef at Woohoo
+ Dubai restaurateur Ahmet Oytun Cakir used ChatGPT for menu inspiration, which led to a bestselling dish and the idea for an all-AI concept restaurant called Woohoo.
+ Woohoo is fronted by "Chef Aiman," a large language model that creates recipes, analyzes ingredients, and generates flavor combinations, with human chefs testing and refining the dishes.
+ The restaurant features a futuristic atmosphere with immersive audio and video experiences, and its menu includes experimental dishes such as the Dinosaur Heart and Molecular Burrata, with prices ranging from $130 to $200 for a four-course meal.
Toyota announces $912m investments in US hybrid vehicle production: Nikkei reports the automaker aims to enhance production capabilities across five factories.
Self-driving taxis are catching on. Are you ready? With the arrival of Amazon’s Zoox robot taxi in San Francisco to compete with Waymo, autonomous services are gaining momentum. But there are pros and cons. NYT
After last week’s stunning landing, here’s what comes next for Blue Origin: “There’s never been such a high demand for launch as there is right now.” ARS
UK plans ban on ticket resale touts in bot-buying era: DW reports modern technologies have made it possible to buy up tickets moments after their release and instantly put them up for resale, often at an egregious mark-up. But the industry argues a ban will fuel the black market.
Did the Louvre robbers want to get caught? They left behind incriminating evidence, but perhaps their bungling was all part of a plan. Gavin Mortimer
The world has hit “peak wine”: Consumption is in secular decline, thanks to demographic and cultural shifts. Economist
Scotland has qualified for the World Cup for the first time in 28 years.
The Times: Pandemonium as Scotland strike late to reach first World Cup in 28 years
What’s it like to compete in the longest US off-road rally with no GPS? Hydrogen and solar power the rally infrastructure, but navigation is low-tech. ARS
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
Caracal Daily | November 18
*** Ross Rant ***
What happens when seven people gather with no agenda
Posted on Saturday, November 15
Seven people.
One Scottish estate.
Zero PowerPoints.
Brigadoon Scotland concluded on Friday at Carphin House in Fife, and I spent the weekend in Edinburgh letting it all settle before flying home Sunday.
The mantra I used when curating this gathering was "Less logic. More magic."
And I can tell you from firsthand experience, there is a specific magic that happens when you gather the right people in the right place with no agenda beyond authentic conversation.
I've organized Brigadoon gatherings in different formats and sizes for years, and I'm still surprised by what emerges when you trust the format: no PowerPoints, no name tags, and Chatham House Rule.
People arrived as strangers and became friends.
They left noticeably smarter, myself included, all while sharing challenges and opportunities in a friendly and welcoming environment.
Getting out of your typical routine is key, even for just a few days.
A fire burning constantly.
Hikes that start the moment you walk out the front door.
The Scottish November light casting a glorious hue across the landscape.
Nooks for reading and strategic planning.
Chef-prepared meals that let someone else make decisions and pamper you.
Nightly conversations that stretched for hours because no one wanted to leave.
All Brigadoon gatherings operate under Chatham House Rule, so what was said and what was shared stays private, but the impact doesn't.
Everyone left different than they arrived, especially me.
Some call these multi-day Brigadoon gatherings anti-conferences, but nothing I have ever attended creates this quality of dialogue and connection.
Nothing else makes you noticeably smarter and more energized in just five days.
I'm already thinking about the next one, and I'm so excited.
-Marc
*** Caracal Daily ***
The world ahead: How 2026 will shape the next decade: This year, President Donald Trump has demolished long-standing norms and upended decades-old institutions at breathtaking speed. The old world order is finished—and in 2026, the contours of what will replace it will emerge. In the week we publish our new edition of The World Ahead, our future-gazing guide to the coming year, our top editors consider what 2026 will reveal about the future of Western liberal democracies, the reshaping of global power structures, the outlook for the world economy, and the impact of new technologies. Economist (Video)
China rapidly expands nuclear test site as Trump revives Cold War tension: WP reports the quiet expansion of Beijing’s remote nuclear complex points to years of preparation for a potential return to Cold War-era weapons testing.
White House memo claims Alibaba is helping Chinese military target US: National security document outlines intelligence on tech support given to PLA ‘operations.’ FT
Europe sees China as a rival. China sees Europe as a has-been: Yet China may be underestimating Europe’s willingness to push back. Economist
Japan shows off warships to Indonesia defense chief with eye on exports: Nikkei reports Koizumi and Sjafrie affirm cooperation on maritime security at 2+2 meeting.
Taiwan plans to spend $3bn to pursue 'AI island' ambitions: Nikkei reports initiative to focus on photonics, quantum computing, and AI robotics.
Taiwan’s amazing economic achievements are yielding alarming strains: It has the world’s most undervalued currency and one of its biggest trade surpluses. Economist
Security Council backs Trump’s plan for postwar Gaza: NYT reports the resolution, which passed with 13 votes in favor and Russia and China abstaining, forms the central plank of the Trump administration’s next steps to implement a lasting peace in Gaza.
In major breakthrough, UN Security Council adopts US peace plan for Gaza: NYT reports the vote, in which Russia and China abstained, provides a legal mandate for the Trump administration’s vision of how to move past the cease-fire and rebuild.
320,000: The UN’s estimate of the number of homes destroyed or damaged in Gaza during the war.
CNN: Trump pulling out all the stops to welcome Saudi crown prince for first White House visit since Khashoggi killing
MBS in DC: Top lawmakers from both parties are trying to schedule a Capitol Hill visit for Saudi Crown Prince Mohammed bin Salman during his upcoming trip to Washington, according to multiple sources.
+ The crown prince will meet with President Donald Trump at the White House later this morning. The president will later host a White House dinner for the Saudi leader.
Trump says he will sell F-35s to Saudi Arabia: Politico reports the president's comments, which could antagonize Israel, come a day before he welcomes Saudi Crown Prince Mohammed bin Salman to the White House.
Trump says US will sell F-35s to Saudis, despite Pentagon concerns: NYT reports the president told reporters in the Oval Office on Monday that he planned to sell the advanced fighter jets to Riyadh.
Trump family and Saudi partner unveil tokenised Maldives resort: FT reports project announced on eve of Saudi Crown Prince’s visit to White House.
Courtroom erupts in cheers as ousted Bangladesh PM sentenced to death: USA Today reports a courtroom in Dhaka erupted in cheers on Monday, November 17, as a special tribunal sentenced Bangladesh’s ousted prime minister, Sheikh Hasina, to death.
The scramble for Europe is just beginning: As the EU struggles to defend its interests, outside powers play divide and rule. Gideon Rachman
Ukraine faces manpower crisis as most recruits flee training, MP says: The fervour of the war’s first volunteers is largely spent, and Kyiv is struggling to plug gaps on the front line as Russia comes close to capturing Pokrovsk. The Times
A huge corruption scandal threatens Ukraine’s government: Volodymyr Zelensky faces his biggest challenge since the invasion. Economist
Poland says rail explosion was ‘unprecedented act of sabotage’: Politico reports Prime Minister Donald Tusk said the goal of the sabotage was to blow up a train and that additional damage had been identified elsewhere on the route.
Polish PM confirms 'act of sabotage' on key Ukraine supply train line: Le Monde reports investigators suspect that the explosion on Sunday on the rail link running from Warsaw to the Polish city of Lublin was committed 'on behalf of a foreign intelligence service,' Poland's National Prosecutor's office said.
France pledges to sell Rafale fighter jets to Ukraine, but funding remains uncertain: Le Monde reports that, as with all letters of intent, the one signed by Emmanuel Macron and Volodymyr Zelensky on Monday was not a formal contract, but simply an official acknowledgment of ongoing negotiations.
Ukraine plans to buy 100 French Rafale jets: FT reports Volodymyr Zelenskyy signs letter of intent to purchase aircraft and other weapons during visit to France.
France wants to build jet fighters for Ukraine. Neither has the cash. WSJ reports French President Emmanuel Macron announced a plan to supply Kyiv with up to 100 Rafale jets and other advanced weaponry.
UK follows Europe and US in crackdown on asylum seekers: WSJ reports moves include threatening visa restrictions on countries that don’t take back failed asylum seekers, something President Trump has done.
Why Britain is embracing ‘negative nation branding’: Prime Minister Keir Starmer, trying to get a grip on a feverish immigration debate, is introducing a hard-line, contentious policy on refugees. NYT
Nearly half of Labour voters want Keir Starmer to step down: Polling for The Times has found that the prime minister’s popularity is waning after a chaotic briefing row and build-up to the budget.
Pope Leo is following in Francis’s footsteps: The new pope refuses to discipline bishops who move against traditionalists. Joseph D’Hippolito
UBS chair talked to Scott Bessent about moving bank to US: FT reports discussions came as Colm Kelleher tries to pressure Swiss government to back down over proposed capital rules.
Number of new foreign students in US falls 17% over visa worries: FT reports Trump’s tough policies against universities lead to sharp fall in international enrolments.
AP: US may have discussions with Maduro as aircraft carrier arrives in Caribbean, Trump says
CNN: Trump hasn’t made decision on striking Venezuela, officials say
Bloomberg: Trump threatens Latin America but leaves US strategy unclear
Trump makes a sharp pivot on Venezuela: The Times reports that as Operation Southern Spear gathers pace in the Caribbean, President Trump has indicated he is willing to speak to the Venezuelan leader.
Trump’s armada off Venezuela’s coast is a hint to President Maduro: The US naval build-up gives the Venezuelan president a choice: do a deal or do a runner. The Times-Editorial
The case for overthrowing Maduro Bret Stephens
If we’re going to do tariffs, let’s do them right: The White House’s chaotic tariff strategy is making everything more expensive. Gretchen Whitmer
Bloomberg: World’s top aluminum producer adds markups as Trump tariffs drive up consumer costs
Epstein files: The House will vote Tuesday on the discharge petition calling on the Justice Department to release the complete Epstein files.
‘He got tired of me winning’: How Thomas Massie outmaneuvered Trump on Epstein: Politico reports the president’s Sunday capitulation handed his biggest GOP foe in Congress a major victory.
+ “I think I’ve just demonstrated I can get something done with the Speaker against me, the President against me, the Vice President against me, and the FBI director against me. If you can get something done in the face of all that, then I think my prospects are pretty good.” -- Rep. Thomas Massie (R-KY)
Trump says he would sign bill to release Epstein files if it reaches his desk: ABC News reports: "I'm all for it," he said in the Oval Office on Monday.
Trump bows to reality in Epstein reversal, beating a rare retreat: NYT reports faced with a mass defection on a bill to demand the release of the Epstein files, the president rushed to avoid an embarrassing loss, suggesting a slip in his iron grip on the GOP.
As Trump looks for distraction on Epstein, Justice Dept. rushes to his aid: NYT reports the department was deployed, in effect, as an arm of the president’s rapid-response operation to help him muscle through a damaging news cycle over Jeffrey Epstein, former and current officials said.
CNN: Elizabeth Warren calls on Harvard to sever ties with Larry Summers after new Jeffrey Epstein emails
The first glimpse of post-Trump MAGA has arrived: With a push from Marjorie Taylor Greene, Donald Trump acquiesces over the Jeffrey Epstein files. Jim Geraghty
Can the American right find its way back? Under the influence of Donald Trump and his MAGA movement, the American right has become unrecognizable to those who remain committed to the values espoused by Ronald Reagan and Margaret Thatcher. The question now is whether the Republican Party can still recover its brand of dignified conservatism. Michael R. Strain
A conservative vision for America after Trump: Can the right find its way back to small government? Sarah Isgur thinks so. NYT
Here's an example of what I call "politics is the art of what's possible": Marjorie Taylor Greene (R-GA) told CNN’s Dana Bash that she wanted to end the “toxic fighting in politics” and regrets her own heated rhetoric. Punchbowl called this "remarkable" and went on to write, "because that’s what MTG’s entire career and public persona was built on."
+ The White House chalks Marjorie Taylor Greene’s newfound persona up to sour grapes that Trump didn’t back her to run for Senate or governor.
Trump to back primary against Indiana Republican who opposes redistricting: Politico reports the White House plans to challenge Republican state Sen. Jim Buck of Kokomo.
Why Curtis Sliwa stayed in the race—and the billionaires who tried to buy him out Time
Why Trump gets away with it: The institutional checks that got the country through Watergate are far weaker now. Clark Hoyt
The Trump era is one of GOP decline Timothy P. Carney
Federal judge blasts potential ‘government misconduct’ in Comey case: WP reports the judge excoriated the Justice Department for its investigation and prosecution of former FBI director James B. Comey, citing a “disturbing pattern of profound investigative missteps” that could threaten the viability of the case.
FAA to lift flight restrictions: WSJ reports a cut in flight traffic implemented last week in response to the government shutdown would end Monday morning.
Bloomberg: US airlines may see weaker holiday traffic amid shutdown fallout
Shut up, or suck up? How CEOs are dealing with Donald Trump: Chief executives are learning to live with a unique commander-in-chief. Economist
The American Petroleum Institute is backing a seven-figure ad campaign featuring real landmen during Paramount+ and CBS broadcasts of "Landman."
The State of AI: The new rules of war: Military commanders hope for a digitally enhanced force, but will autonomous weapons mean they risk losing control? FT
When AI hype meets AI reality: A reckoning in 6 charts: Record capital expenditures and data-center planning run up against the ground truths of physical infrastructure. WSJ
Paul McCartney joins music industry protest against AI with silent track: Guardian reports the former Beatle and artists including Sam Fender, Kate Bush, and Hans Zimmer record silent LP Is This What We Want.
Jeff Bezos creates AI start-up where he will be co-chief executive: Called Project Prometheus, the company is focusing on artificial intelligence for the engineering and manufacturing of computers, automobiles, and spacecraft. NYT
Chatbots are surprisingly effective at debunking conspiracy theories: Turns out many believers do respond positively when presented with the right evidence and arguments. MIT TR
Grok, Elon Musk's AI, spreads far-right falsehoods about 2015 Paris attacks: Le Monde reports a false rumor that acts of torture were committed during the attack on the Bataclan hall venue was revived by the French far right and confirmed by Grok, which invented victim testimonies.
Libellous chatbots could be AI’s next big legal headache: Companies from Google and Meta to OpenAI are getting sued for defamation. Economist
Now tech moguls want to build data centers in outer space: Energy constraints in the artificial-intelligence race are causing tech companies to think out of this world. Tim Higgins
‘I’m nervous’: Klarna founder challenges trillion-dollar spending on AI: OpenAI backer Sebastian Siemiatkowski says tech industry is committing too much money to huge computing infrastructure. FT
How Italy’s mafia uses social media to recruit new blood: TikTok is struggling to contain it. Economist
The global internet is pulling apart: The rise of the national messaging app. NY Mag
Screen-time worries send parents in increasingly desperate directions: Parents are turning to $8,000 ‘detox’ camps to rein in on kids’ tech usage. WP
Amazon joins Big Tech bond rush with $12bn debt sale: FT reports e-commerce giant’s first US bond in three years comes as it cranks up spending on artificial intelligence infrastructure.
Bloomberg: Fear engulfs Bitcoin traders betting on free fall to $80,000
The crypto industry’s $28 billion in ‘dirty money’: As President Trump has championed crypto and the industry has gone mainstream, funds from scammers and other criminal groups have flowed onto major crypto exchanges. NYT
Cryptocurrencies, a fast lane for money laundering: An international journalistic investigation of which Le Monde is a partner highlights the glaring weaknesses in cryptocurrency exchange platforms, used by criminals to launder money. Le Monde
Apple intensifies succession planning for CEO Tim Cook: FT reports the iPhone maker’s board is preparing for its longtime leader to step down as early as next year.
The world’s most-watched YouTube video hasn’t made its creator rich: Company behind ubiquitous song is hampered by ad restrictions on children’s content, wants to raise funds for expansion via an IPO. WSJ
Bloomberg: ‘Baby Shark’ creator Pinkfong set for Seoul debut after popular IPO
The surprising new use for GLP-1s: Alcohol and drug addiction: WP reports some doctors are prescribing weight-loss drugs such as Zepbound and Ozempic to help reduce cravings for illicit drugs and alcohol. But research on the benefits is limited.
J&J buys cancer drugmaker Halda for $3bn in latest biotech deal: FT reports pharma group hopes acquisition will help to offset losses from expiring patents on blockbuster drugs.
China wants electric cars to feed power back to the grid: The world’s largest EV fleet could become a giant battery network if economic and technical hurdles are overcome. ROW
Reuters: Electric vehicle sales are booming in South America — without Tesla
Will superfast, super-expensive electric vehicles catch on? This could be the make-or-break year. Economist
Ford has reached a deal with Amazon to sell certified used cars directly on Amazon's website.
Eat, pay, love: Dining with strangers is China’s new social fix: Algorithm-matched dinners with strangers have proliferated in some of China’s biggest cities, as participants pay to make friends, explore their surroundings, and try to escape the mundanity of daily life. Sixth Tone
Jeff Bezos and Lauren Sánchez Bezos to fund Met Gala: The Times reports New York’s Metropolitan Museum of Art has announced that ‘costume art’ will be the theme of next year’s A-list event.
The NFL has a new comeback king: With a last-gasp victory on Sunday, the Chicago Bears notched a fourth-quarter comeback for the fifth time this season. It’s a remarkable record—but is it sustainable? WSJ
The Kansas City Chiefs are wobbling out of the playoffs: Inconsistent and searching for answers, the Super Bowl perennials lose more ground to Denver as AFC power resets. Jason Gay
6 ski clinics to up your on-mountain game: Multiday clinics offer focused instruction and camaraderie on the slopes and at après-ski. Here, a half dozen that will improve your skills. NYT
Mbappé and PSG trade countersuits worth hundreds of millions: Le Monde reports the captain of France claims his former club mistreated him after he refused to sign a new contract. PSG, in return, claims their former star striker botched a €300 million transfer deal.
Bloomberg: Trump says US is creating priority visa system for World Cup
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
Caracal Daily | November 10
*** Ross Rant ***
OpenAI's federal funding trial balloon reveals structural fragility
Sam Altman rarely miscalculates. His unassuming St. Louis demeanor belies a strategist who understands how to navigate Washington, Silicon Valley, and global capital markets simultaneously. Which makes OpenAI's recent fumble over federal loan guarantees particularly revealing.
When Sarah Friar, OpenAI's chief financial officer, floated the idea of government-backed financing at the WSJ's Tech Live event in California, the swift backlash prompted Altman to engage in damage control. His subsequent insistence that OpenAI neither has nor wants federal guarantees can't erase what the initial request disclosed: a financing model under severe strain.
The CapEx challenge
Three dynamics converge to create OpenAI's precarious cash position:
Margin compression in a CapEx-intensive business. The real story of AI right now is an infrastructure story. Generative AI requires massive computing infrastructure that operates more like a capital-intensive utility than a high-margin software company. Reports suggest OpenAI is burning significant cash, with projections reaching into the hundreds of billions—possibly even $1 trillion—for the infrastructure needed to maintain a competitive advantage. This inversion of the traditional software economics model raises fundamental questions about sustainable profitability.
Market signals of excessive risk—that is, a bubble. When a company valued at potentially $500 billion seeks taxpayer guarantees for private investment, it signals that sophisticated capital markets view the risk-return profile as inadequate. The implicit message is that private financing at market rates would be prohibitively expensive or unavailable at the required scale, suggesting that investors fear these assets may never generate returns commensurate with their investment.
The "too big to fail" gambit. Altman's messaging whiplash—from entertaining federal backing to categorically rejecting it within days—reveals a company testing multiple financing strategies simultaneously. This isn't confidence; it's contingency planning. The pattern suggests OpenAI is attempting to embed itself so deeply in critical infrastructure that U.S. government support becomes inevitable, effectively creating a private-sector moral hazard.
Strategic implications
For corporate decision-makers, board members, and communications professionals, three considerations emerge:
Evaluate AI vendor stability through a credit lens, not just a technology lens. The sustainability of your AI partnerships depends on whether providers can finance infrastructure buildout without extraordinary measures—vendors requiring government intervention to maintain operations present concentration risk.
Prepare for market correction. When industry leaders signal financing stress, it typically precedes broader sectoral repricing. Companies that have heavily invested in AI infrastructure or are dependent on aggressive AI roadmaps should stress-test their assumptions and build contingency plans.
Monitor regulatory capture risk. OpenAI's willingness to pursue federal guarantees demonstrates how quickly the "move fast and break things" mantra can become "too important to let fail." This dynamic creates regulatory and competitive distortions that disadvantage market participants unwilling to pursue similar strategies.
The most sophisticated companies understand that breakthrough technology doesn't exempt you from financial gravity. OpenAI's trial balloon exposed that even AI's most prominent player is discovering this truth.
For executives making multi-year AI investment decisions, that's the signal worth hearing.
—Marc
*** Caracal Daily ***
The new malaise of civilization: When words, truth and reality fall apart: The proliferation of wars, increase in mental health disorders, devaluation of speech, and loss of connection to reality are troubling signs of the tipping point our societies are facing. Nearly a century ago, Freud identified a malaise that resonates with what we are going through today. Nicolas Truong
Trump's attorney concedes: His legal theory would let a president tax foreign cars to combat climate change: Justice Neil Gorsuch got Solicitor General D. John Sauer to admit one "likely" outcome, if the Supreme Court upholds Trump's tariffs. Reason
Trump suggests $2,000 payouts to Americans as he defends tariffs: WSJ reports the president praises benefits of the levies after Supreme Court appears skeptical of his justification for many of them.
Trump’s tariff rebate contradictions: He’s floating a $2,000 rebate to blunt the harm from his border taxes. WSJ-Editorial
US politics are a mystery, Britain’s are a mess: It’s unclear what message Democrats should take from Tuesday’s victories. In the UK, the clear message is that things are about to get worse. Tobin Harshaw
Britain’s new ambassador to France: ‘You all play the game of influence’: Mere weeks into the job, ‘securocrat’ Sir Thomas Drew has positioned Paris’s 18th-century Hôtel de Charost as ‘an informal annex to formal discussions at the Élysée’. It’s no small feat. FT
German far-right activist seeks asylum in US as Trump ties deepen: WP reports social media influencer Naomi Seibt, a supporter of the nationalist AfD party, said she is being persecuted in Germany for her political views.
French lawmakers vote to tax American retirees who freely benefit from social security: Le Monde reports members of the Assemblée Nationale backed an amendment to the social security that would create a 'minimum contribution' on foreign retirees who receive free healthcare.
The rise of 'crypto bros' and neoliberalism in France's business schools: Student societies, blockchain clubs, and crypto and Web3 conferences are bringing together a young generation of fintech fanatics, pushing ideas inspired by radical neoliberalism. Le Monde
Greece deepens US energy ties with first gas exploration deal in 40 years: FT reports ExxonMobil leads drilling agreement targeting reserves in Ionian Sea.
Wealthy Chinese sidestep Singapore for Dubai: FT reports private bankers and advisers report rise in interest in the Gulf as Asian city-state tightens scrutiny of applicants.
The mystery of China’s slumping investment: Its leaders don’t seem concerned. Should they be? Economist
South Korea’s new president is fixing relations with America, Japan, and China: A refreshing burst of pragmatism after a turbulent time. Economist
‘Wolfpack’ and ‘Running Deep’: The battlefield below: The German U-boat force maintained a fearsome reputation. But American submariners fought more effectively. WSJ
‘The Last 600 Meters’ review: The Iraq War’s realities on PBS: A documentary revisits the battles of Fallujah and Najaf in on-the-ground detail. WSJ
Gang violence deepens Haiti's educational crisis: Le Monde reports a lack of electricity, no cafeterias and overcrowded classrooms: Haitian schools have long suffered from structural weaknesses, exacerbated by the proliferation of criminal gangs. More than 1,600 schools have been forced to close across the country, deepening poverty among families.
Alaska’s new mining rush chases something more coveted than gold: Miners are racing to extract antimony, an obscure element used by defense companies, which China cut off as retaliation in the trade war. WSJ
WP: Flight cancellations ‘only going to get worse,’ transportation secretary says
Bloomberg: Duffy warns Thanksgiving holiday travel to slow to a trickle
Bloomberg: Air travel woes grow as Chicago storm adds to shutdown mess
Officials warn of big hit to air travel and GDP as US government shutdown drags on: FT reports Trump administration says flights will slow to a ‘trickle’ with no end in sight to budget impasse.
Bloomberg: US shutdown nears end as Senate Democrats agree to funding deal
Senate closes in on vote on ending government shutdown: WSJ reports a proposal by GOP senators to send money directly to consumers’ health accounts rather than to insurance companies showed signs of breaking a stalemate on negotiations.
Senate moves toward deal to end shutdown, but hurdles remain: WP reports the proposal under discussion doesn’t include more funding for Affordable Care Act subsidies. If a bill passes the Senate, it needs the House’s approval and President Donald Trump’s support.
US senators strike deal in first step to ending government shutdown: FT reports a small group of Democrats joins Republicans in advancing bill to reopen government after record budget impasse.
Democratic defectors relent on shutdown, backing bill to reopen: NYT reports two Democratic negotiators said a group of Senate Democrats was ready to fund the government through January without extending Affordable Care Act subsidies.
Trump says US 'getting close to the shutdown ending': Le Monde reports top Republicans have been working with Democrats to potentially reopen the government into January. Over the course of the 40-day shutdown, Democrats have voted 14 times not to reopen as they demand extension of subsidies for health plans offered under the Affordable Care Act.
Americans see a government that can’t solve their problems: WSJ reports decisive Democratic wins just a year after Trump’s GOP sweep signal voters are impatient for change.
Bloomberg: Data fog intensifying for Fed as shutdown delays US inflation numbers
The trouble with America’s shutdown economy: Gridlock in Washington prevents official data releases. And unofficial ones disagree. Economist
The lessons Democrats need to learn to win again: Continued success depends on properly understanding this week’s victories. Fareed Zakaria
What Mamdani and Martha Stewart tell us about the vibe shift: An election win and a politically incorrect cookbook show that Americans are embracing candour over caution. Jemima Kelly
How New York’s affordability crisis reshaped its politics: Zohran Mamdani’s mayoral upset reflects growing frustration with soaring living costs. FT
American politics is all about affordability now: Democrats are seizing on rising costs to turn Donald Trump’s campaign messaging against him — and it’s working. Bloomberg
Mamdani isn’t the future of the Democrats. This guy is. Binyamin Appelbaum
‘I want to win’: Inside Gavin Newsom’s plan for taking on Trump: Armed with a podcast, a ballot measure and tweets, California’s governor is spoiling for a fight with the president. Bloomberg
This sweary ‘wine mom’ is the Democrats’ answer to Joe Rogan: Former reality TV star from Oklahoma is emerging as one of Left’s most powerful podcasters. Telegraph
Trump’s spin on the economy won’t work Nia-Malika Henderson
Four charts explain why Donald Trump is in trouble: America’s last elections before next year’s midterms have given Democrats hope. Economist
Trump’s MAGA coalition fractures over far-right interview: Heritage Foundation in turmoil after head defends airing of exchange with Holocaust denier Nick Fuentes. FT
Bloomberg: Greg Abbott unveils bid for record fourth term as Texas governor
BBC director general and news chief resign: WSJ reports Tim Davie and Deborah Turness are leaving the news organization following criticism over the editing of remarks by President Trump that were included in a documentary program.
BBC’s top leaders resign over Trump speech editing controversy: WP reports the British broadcaster’s top officials, Tim Davie and Deborah Turness, stepped down amid allegations that a documentary misleadingly edited Trump’s Jan. 6 speech.
Tim Davie quits as BBC chief, taking ‘ultimate responsibility’ for errors: The Times reports the corporation is expected to apologise for broadcasting a doctored clip of a speech by President Trump — who welcomed the resignation.
Two top BBC leaders quit over editing of Trump documentary: NYT reports the abrupt moves followed furor over claims that a documentary had misleadingly edited footage of President Trump’s speech before the Jan. 6 Capitol riot.
Xu Yangtian, Shein’s mysterious founder under fire: China’s fast fashion giant, dealing with outrage in France, was created by a man who is unrecognisable even to his own employees. FT
AI is on its way to something even more remarkable than intelligence Barbara Gail Montero
The AI spending frenzy is so huge that it makes no sense: For $360 billion, the country could fund SNAP benefits for four years. Big Tech spent that much on AI data centers in one year. WP
The boss has a message: Use AI or you’re fired: At companies big and small, employees have feared being replaced by AI. The new threat: Being replaced by someone who knows AI. WSJ
One in six employers expect job cuts from AI in next year: Survey by Chartered Institute of Personnel and Development reveals the extent of the threat to white-collar workers from artificial intelligence. The Times
Voice phishing is AI fraud in real time: Just as we learnt to treat emails with caution, we must now learn to doubt a human-sounding voice. FT
Chatbots are sparking a new era of student surveillance: As US educators embrace AI in the classroom, firms are selling software to flag mentions of self-harm, raising concerns over privacy and control. Bloomberg
OpenAI confronts signs of delusions among ChatGPT users Bloomberg
What happened when small-town America became Data Center, USA: Residents, politicians, and local agencies are making the most of the tech boom, but prosperity comes with costs; ‘What’s going to happen once they stop building?’ WSJ
The AI boom comes to America’s loneliest place: Plans for a 230-mile transmission line threaten Nevada’s wilderness and have united hunters and wildlife groups. FT
Should facial analysis help determine whom companies hire? A new paper suggests a photo can tell a recruiter much about an applicant’s personality. Economist
Meta is earning a fortune on a deluge of fraudulent ads, documents show: Meta projected 10% of its 2024 revenue would come from ads for scams and banned goods, documents seen by Reuters show. And the social media giant internally estimates that its platforms show users 15 billion scam ads a day. Among its responses to suspected rogue marketers: charging them a premium for ads – and issuing reports on ’Scammiest Scammers.’ Reuters
+ Meta's fraud problem: The social media giant projected 10% of its 2024 revenue would come from ads for scams and banned goods, documents seen by Reuters show
+ @mulvihill79: Incredible reporting by @Reuters. Meta makes more money from ad fraud - as much as $16 billion - than all the NFL TV partners put together make on NFL ad sales. Theft on an epic scale.
AP: Denmark’s government aims to ban access to social media for children aged under 15
The men who shaped the internet won’t be able to fix it: Tim Berners-Lee dreamed of a World Wide Web for everyone. Nick Clegg and Meta had different ideas. In new books, both ignore how profit undermined the internet. Bloomberg
Elon Musk has one trillion reasons to finish his robot story: The Tesla chief faces intense competition from rivals like Uber, even in the automaker’s hometown. Tim Higgins
Elon Musk’s $1trn pay deal is a troubling display of corporate capture: He has Tesla and its board wrapped around his finger. Economist
Riding in a Chinese robotaxi is pretty smooth—That’s a problem for Waymo: While US companies dominate their home market, other countries look to China for driverless technology. WSJ
Why commercial space stations are the next frontier: The retirement of the International Space Station ends an era of geopolitical co-operation in orbit. Private operators are racing to fill the gap. The Times
Jamaicans have been turning to solar power. It paid off after the storm. NYT reports people with panels got their power back almost immediately after Hurricane Melissa passed. The “entire neighborhood benefits,” one resident said.
Visa, Mastercard near deal with merchants that would change rewards landscape: WSJ reports the deal under discussion would lower credit-card interchange fees for merchants, but could make it harder for consumers to use rewards cards at the register.
First, grinning Labubu dolls. Now, a TV show and theme parks: Pop Mart, maker of the wildly popular toys, wants to be China’s Disney. Economist
The hidden costs of living alone: In ways both large and small, American society still assumes that the default adult has a partner and that the default household contains multiple people. Joe Pinsker
How the Pompidou took over the world: The Paris institution has closed for a major five-year renovation — but its tentacles span the globe, from Saudi Arabia to South Korea. FT
I tried the track where rich people drive 150 miles an hour to unwind WSJ
The 6-Foot-5 Viking warrior who’s terrorizing European soccer: Even by his own prolific standards, Manchester City’s Erling Haaland is on an unprecedented tear this season, topping the scoring charts despite hardly ever touching the ball. WSJ
The Big Ten, SEC, and the battle over the future of college football: The two athletic conferences effectively rule the sport. But they disagree on critical points about its future. WSJ
Indiana’s perfect season saved by catch of the year Jason Gay
MLB pitchers charged in gambling investigation: WSJ reports Cleveland Guardians pitchers Luis Ortiz and Emmanuel Clase are accused of manipulating pitches for sports betting purposes. Both had already been suspended by the league.
MLB pitchers charged with taking bribes to rig pitches: WP reports Emmanuel Clase and Luis Ortiz are alleged to have thrown certain pitches in exchange for money from bettors. Each could face up to 65 years in prison.
Lando Norris takes grip of title race as Max Verstappen falls short: The Times reports Briton delivers perfect drive in Brazil to open up 24-point gap over McLaren team-mate Oscar Piastri, with Max Verstappen finishing third after starting from pitlane.
WSJ: Former NFL Commissioner Paul Tagliabue dies at 84
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal