Quote of the Day
"(T)he power of the billionaires is often exaggerated relative to the power of the millionaires who have money and votes..."
(Alex Tabarrok)
Crypto
- Trump Media ($DJT) bought a bunch of Bitcoin. It now has $1 billion in convertible debt coming due. (giftarticle.ft.com)
- Stablecoins are seeing rapid adoption in Latin America. (bloomberg.com)
- How Lugano, Switzerland became a crypto hub. (giftarticle.ft.com)
Anthropic
- Anthropic's ($ANT) S-1 is dominated by risk factors. (nytimes.com)
- It's easy to forget the Anthropic IPO is coming, fast. (cnbc.com)
Nvidia
- The Megaspeed story was building for over a year. (nytimes.com)
- On the face of it, Nvidia's ($NVDA) board looked independent, but in practice not so much. (ft.com)
- How China found a backdoor to Nvidia ($NVDA) chips. (wsj.com)
- Nvidia ($NVDA) was untouchable, until it wasn't. (semafor.com)
Spying
- Jensen Huang isn't the only executive targeted by Chinese intelligence. (sfstandard.com)
- A look at the scale of China's spying operations. (wsj.com)
- Intelligence agencies have used romantic entrapment for a long time. (nytimes.com)
- Why honeypot schemes work. (cnbc.com)
Stay in touch
- Work in wealth management? Sign up for our exclusive Talking Wealth newsletter. (talkingwealthpod.com)
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
Policy
- Pete Hegseth operates with the support of the President. (danieldrezner.substack.com)
- The government is engaging in 'refoulement by proxy' by evading court orders and international law. (nytimes.com)
- What Congress can do to wrest tariff control back from the President. (edgyoptimist.substack.com)
- How The No Surprises Act backfired when it comes to health care costs. (theatlantic.com)
- A look at New Mexico's experiment with universal child care. (npr.org)
- The U.S. has succeeded...in bringing measles back. (npr.org)
Economy
- Is AI driving new business formation? (apollo.com)
- How permitting affects shelter inflation. (thesounding.substack.com)
- Has monetary policy become more effective over time? (libertystreeteconomics.newyorkfed.org)
- The economic schedule for the coming week. (economicweekly.substack.com)
Earlier on Abnormal Returns
- Top clicks this week on Abnormal Returns. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (abnormalreturns.com)
