Welcome back to your daily memorandum talking tech, business, AI, markets, and more. 🗞️

In today’s edition we are tackling the following:

⚖️ Seven lawsuits claim ChatGPT caused user suicides and breakdowns.
🏗️ Meta invests $600B in AI data center expansion.
🎮 Texas sues Roblox for child safety violations.
🤖 Moonshot’s Kimi K2 outperforms GPT-5 in reasoning.
💸 Study finds 25% of Polymarket trading was artificial.

TECHNOLOGY

• Alibaba-backed Moonshot releases new AI model Kimi K2 Thinking (CNBC) 
  _{^{More: VentureBeat, Silicon Republic, AIM}}

  • Moonshot's Kimi K2 Thinking outperforms GPT-5 and Claude Sonnet on key reasoning benchmarks including coding tasks.

  • The model cost $4.6 million to train and autonomously selects 200 to 300 tools for tasks.

  • Open-source release uses mixture-of-experts architecture with one trillion parameters and 32 billion active per inference.

• Meta plans $600 billion US spend as AI data centers expand (Reuters)
  _{^{More: Engadget, Bloomberg via MarketScreener}}

  • Meta will invest $600 billion in U.S. infrastructure over three years, focusing on AI data centers.

  • The company targets achieving superintelligence, where machines surpass human cognitive abilities, through aggressive capacity building.

  • Meta recently secured $27 billion financing for its Louisiana data center, its largest project globally.

• Nintendo Store app launches on iOS and Android (MacRumors) 
  _{^{More: Nintendo Life, 9to5Mac, Android Authority}}

  • Nintendo launched Store app globally on November 5 for browsing games, consoles, accessories and merchandise.

  • Users can review complete play activity for Switch, Switch 2, 3DS and Wii U consoles.

  • App enables sale notifications for wishlisted items and event check-ins for rewards but redirects purchases to browser

BUSINESS

• Lawsuits Blame ChatGPT for Suicides and Harmful Delusions (New York Times) 
  _{^{More: TechCrunch, Futurism, Daily Gazette}}

  • Seven lawsuits filed Thursday accuse ChatGPT of contributing to four suicides and three mental breakdowns.

  • Complaints allege GPT-4o was dangerously sycophantic and psychologically manipulative, with 25 percent average artificial trading inflating volumes.

  • OpenAI data shows 0.15 percent of weekly users discuss suicide, representing over one million people weekly.

• Texas sues Roblox for 'putting paedophiles and profits' over safety (BBC) 
  _{^{More: TechCrunch, Texas Tribune, Yahoo}}

  • Texas Attorney General Ken Paxton sued Roblox Thursday, alleging the platform deceives parents about safety risks.

  • The lawsuit claims Roblox became a breeding ground for predators, joining Kentucky and Louisiana lawsuits.

  • Roblox has 151.5 million daily users, with 40 percent under age 13 in 2024.

• Polymarket Volume Inflated by 'Artificial' Activity, Study Finds (Bloomberg) 
  _{^{More: Fortune, Cointelegraph, CryptoNews}}

  • Columbia University study found 25 percent of Polymarket trading volume was artificial wash trading activity.

  • Sports markets showed 45 percent artificial volume, while crypto markets had only 3 percent manipulation.

  • Wash trading peaked at 60 percent in December 2024 before declining to 20 percent in October.

MARKETS

WORLD

• Multiple explosions shake a mosque in an Indonesian high school and injure 55 (AP News) 
  _{^{More: NPR, CNN, Al Jazeera}}

  • Explosions during Friday prayers at Jakarta high school mosque injured 55 students, mostly from glass shards.

  • Police identified 17-year-old student as suspect; toy weapons found with writings referencing white supremacist slogans.

  • Incident occurred at SMA 27 state school within navy compound in northern Jakarta's Kelapa Gading neighborhood.

• Louvre heist suspect is social media star and former museum security guard, reports say (The Guardian) 
  _{^{More: Irish Times, ARTnews, Global News}}

  • Abdoulaye N., 39, known as Doudou Cross Bitume online, arrested for $102 million Louvre heist.

  • Suspect worked as security guard at Pompidou Centre and has 15 prior criminal offenses.

  • Museum's video surveillance system password was reportedly just ‘Louvre’ at time of October robbery.

• FAA orders flight reductions at 40 major airports amid government shutdown (NPR) 
  _{^{More: CNN, Washington Post, CBS News}}

  • FAA ordered airlines to cut flights by 10 percent at 40 major airports starting Friday.

  • Air traffic controllers working without pay for over a month amid longest government shutdown in history.

  • About 800 flights canceled Friday with potential escalation to 15-20 percent cuts if shutdown continues.

• Dive into the 100 Greatest Business Books Database*

  • We've curated an exhaustive database of the top 100 business books of all time, as voted by legends like Steve Jobs, Warren Buffet, Jeff Bezos, and more.

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FUTURISM

• SoftBank is back, and the AI hype cycle is eating itself (TechCrunch) 
  ^{_{More: TechCrunch, WebProNews}}

  • SoftBank and OpenAI launched 50-50 joint venture selling Crystal Intelligence enterprise AI tools in Japan.

  • SoftBank is first customer of its own joint venture, raising questions about circular AI investment economics.

  • Deal highlights concerns about whether AI mega-deals create real economic value or just recirculate money.

• Kim Kardashian says ChatGPT is her 'frenemy' (TechCrunch) 
  _{^{More: Hollywood Reporter, Fox News, Above the Law}}

  • Kardashian told Vanity Fair she used ChatGPT for legal advice and failed exams after receiving wrong answers.

  • She attempts to appeal to ChatGPT's emotions, though the AI has no feelings or emotional capacity.

  • Kardashian studies law through California apprenticeship program and recently took the bar exam awaiting results.

• Sam Altman says he doesn't want the government to bail out OpenAI if it fails (TechCrunch) 
  _{^{More: CNN Business, Bloomberg, NBC News}}

  • Altman clarified OpenAI doesn't want government guarantees for data centers after CFO suggested federal backstop support.

  • Trump's AI czar David Sacks stated there will be no federal bailout for AI companies.

  • OpenAI expects $20 billion annualized revenue this year against $1.4 trillion infrastructure commitments over eight years.

CONTENT

• How Startups Can Win the Talent War (Y Combinator)

  • Juicebox CEO David Paffenholz and YC’s Harj Taggar explain how early-stage founders can recruit top talent through storytelling.

  • They emphasize selling your vision before assessing skills, crafting outreach that converts, and competing with Big Tech offers.

  • The session highlights hiring as a sales process, from sourcing engineers to closing fast and building long-term team alignment.

• I Own 38 Businesses. Here’s What Actually Makes Money (My First Million)

  • Andrew Wilkinson breaks down lessons from building and buying 38 companies across SaaS, real estate, agencies, and content creation.

  • He and Shaan Puri discuss business models that thrive in 2026, from local services to fund management and marketplaces.

  • The conversation contrasts failure, resilience, and why simplicity and focus consistently outperform flashy growth strategies.

• Amjad Masad & Adam D’Angelo: How Far Are We From AGI? (a16z)

  • Replit’s Amjad Masad and Quora’s Adam D’Angelo debate whether AGI is imminent or still limited by brute-force scaling.

  • They explore automation’s impact on entry-level jobs, coding agents, and the rise of independent ‘sovereign individuals.’

  • The discussion reveals deep divisions over consciousness, expertise, and the surprising sophistication of multi-agent workflows.

EXTRAS

• Trump Media stock slump deepens as election bump erased, losses mount (Bloomberg) 
  _{^{More: Invezz, Fast Company}}

  • Trump Media reported $973,000 in Q3 revenue, down 3.8 percent year-over-year with $55 million net loss.

  • Stock fell 70 percent from January high, down to $12.70 despite Trump's second term inauguration.

  • Company holds $1.5 billion in crypto assets adding volatility while legal costs and revenue decline deepen losses.

• Wendy's is closing hundreds of restaurants (CNN Business) 
  _{^{More: PRNewswire, Fast Company}}

  • Wendy's closing 200 to 350 underperforming US locations through 2026 as part of turnaround plan.

  • US same-store sales declined 4.7 percent while competitors posted positive earnings with better deals and marketing.

  • Company beat Q3 earnings expectations with adjusted EPS of 24 cents versus 20 cents forecast despite closures.

• US consumer sentiment near 3-year low as government shutdown fuels anxiety (CNN Business) 
  _{^{More: Bloomberg, CNBC, Spokesman}}

  • University of Michigan consumer sentiment index fell to 50.3 in November from 53.6 in October.

  • Reading marks lowest level since June 2022 as government shutdown exceeds one month duration.

  • Decline widespread across age, income and political affiliation except consumers with largest stock holdings who saw sentiment rise.

AND MORE

• Markets hover amid data drought and U.S. government shutdown dragging economic signals.

• Global stock indexes tumble this week on fears of AI bubble and weak jobs data.

• Roko’s Basilisk skips the buzz words and cuts straight to what moves markets, products, and careers. Read it over coffee, sound brilliant on your next call.*

• UK justice minister orders tougher release checks after convicted offender escapes custody.

• China faces persistent deflation and export weakness even as tech-industry push continues.

• UK house prices rose fastest since January, despite broader economic jitters.

• Brazil’s forthcoming climate summit challenged by new oil-drilling plan undermining rainforest commitments.

• Japan’s convenience-store challengers ramp up discount format as consumer pressure mounts.

• U.S. utilities warn of financial strain as autumn storms boost costs and trim profit forecasts.