The market gave up on rate cuts, and the American shopper kept trading down without giving up taste. Plus: the teenagers using AI as a therapist and hiding it, two YouTubers who broke Hollywood's math, and FIFA discovering the ceiling on what you'll pay. Good morning.
Good morning. A few things are true this morning that were not true Friday: a drug nearly doubled survival in one of the deadliest cancers we have, Google moved to sell stock for the first time since 2005 to keep up with its AI bill, and the company that makes
Three things happened to the frontier AI businesses in the last 72 hours. Despite still litigating the Pentagon blacklist, Anthropic closed a $65 billion Series H at a $965 billion post-money valuation. The same morning, Claude Opus 4.8 shipped. By midday Anthropic was the most valuable AI startup in
Tuesday's lead is a juxtaposition the trade press is missing: Bumble lost 21 percent of its paying users in a single quarter, and a $17 million horror movie about coercive dating grew 16 percent in its second weekend. Both are pieces of the same story, and the essay
This is the kind of list New Yorkers usually pass along privately.
TLDR: How last week's watch list actually landed, then the full read. The FDA quietly stripped its harshest warning off menopause hormone therapy, your cue to reopen a conversation a flawed 2002 study shut down for two decades. The Dow set a record, Nvidia blew out earnings, Google
Five concentrations this week: the Fed, ChatGPT, the MBA, The Voting Rights ACT, and Everlane. If you are not reading the rest, here is what to leave with. TLDR: Kevin Warsh has been confirmed to run the Fed and your mortgage rate is not dropping. Move idle cash into a
SCOTUS preserved mail access to mifepristone, but Thomas's dissent points towards a path to ending it. The tradwife argument got an Anne Hathaway adaptation and a peer-reviewed paper. The Musk v. Altman trial closed with Microsoft's CEO calling the OpenAI deal "a one-way door."
The line outside Chanel's Rue Cambon store on the morning of March 5 was the kind of line you usually see for a sneaker drop, not a Chanel jacket. The first pieces from Matthieu Blazy's debut collection had landed in stores that day, and editors, clients,
Three macro analysts framed as opposites converge on the same 2026 regime. Here's where.
The most important thing you can do about AI right now is not read more newsletters about it. It's using it every single day. For the work you already do. The reading list below can help you get up to speed, but reading about AI while not using
Inflation plus a few misc. notes Prices are rising faster again. The April inflation report came in hot. Prices were up 3.8% from a year ago, the highest inflation reading since May 2023. Prices also rose 0.6% from March to April alone. That may sound small, but for
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