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

In today’s edition, we are tackling the following:

💡 OpenAI launches GPT-5.2, beating professionals at spreadsheets and coding
🌎 U.S. seizes Venezuelan oil tanker amid pressure campaign
🌐 World debuts encrypted chat super app with crypto payments
📈 Kalshi launches tokenized event contracts on Solana
🏦 AI startup Serval hits one billion dollar valuation

TECHNOLOGY

• Trump Signs Executive Order Blocking State AI Laws (NBC News) 

  ^{_{More: CNN, CNBC, NPR}}

  • The order directs agencies to challenge state AI regulations, creating a single federal framework.

  • Critics warn this could allow tech companies to evade accountability and undermine state consumer protections.

  • The Justice Department will establish an AI Litigation Task Force to preempt state laws.

• OpenAI Launches GPT-5.2, Most Capable Model Yet for Professional Work (TechCrunch) 

  ^{_{More: CNBC, Axios, VentureBeat}}

  • Released following code red response to Google Gemini, the model excels at spreadsheets and coding.

  • GPT-5.2 beats industry professionals on 70% of knowledge work tasks in benchmark testing.

  • Available in three versions targeting speed, reasoning depth, and maximum accuracy for complex tasks.

• World Launches Super App With Encrypted Chat and Crypto Payments (TechCrunch) 

  ^{_{More: Crypto News, Dataconomy}}

  • Sam Altman’s biometric identity project adds Venmo-like crypto features and Signal-level encrypted messaging capability.

  • Users can receive paychecks directly into virtual bank accounts and convert funds into cryptocurrency.

  • Blue message bubbles indicate verified humans, while gray bubbles indicate unverified users for trust purposes.

BUSINESS

• Kalshi Launches Tokenized Event Contracts on Solana to Challenge Polymarket (CoinDesk) 

  ^{_{More: CCN, Stocktwits}}

  • The regulated prediction market now offers blockchain-based tokens through the integration of the Jupiter and DFlow protocols.

  • The move aims to tap billions in crypto liquidity as prediction market volume hits twenty-eight billion.

  • Tokenization provides traders with anonymity while maintaining Kalshi’s federally regulated settlement infrastructure and compliance.

• AI Startup Serval Reaches $1 Billion Valuation After Sequoia-Led Series B (Reuters) 

  ^{_{More: Benzinga, Pulse 2.0}}

  • The IT automation startup raised $75 million just three months after its previous funding round.

  • Serval has grown revenue by 500% since August, automating over half of tickets.

  • The platform uses natural language processing to build automations through what the CEO calls vibe coding.

• Epic Games CEO Tim Sweeney on Apple Court Victory (The Verge) 

  ^{_{More: AppleInsider, PC Gamer}}

  • Appeals court ruling shuts down Apple’s theory that it can charge arbitrary junk fees.

  • Sweeney says he cannot imagine a justification for percentage-based developer revenue fees going forward.

  • Epic has spent approximately $1 billion fighting Apple and Google since the 2020 lawsuit.

MARKETS

WORLD

• US Seizes Venezuelan Oil Tanker in Escalating Pressure Campaign (NBC News) 

  ^{_{More: CNN, CBS News, Bloomberg}}

  • Coast Guard-led operation seized The Skipper tanker carrying sanctioned oil supporting terrorist organizations.

  • Trump confirmed the largest-ever tanker seizure, stating the U.S. will keep the oil cargo.

  • Venezuela denounced the action as blatant theft and international piracy amid escalating regional tensions.

• Banco Master Collapse Exposes Weaknesses at Brazilian State Lender (Bloomberg) 

  ^{_{More: Rio Times, Bloomberg (Collapse)}}

  • Banco Master’s liquidation revealed that Banco de Brasilia purchased $12 billion in fraudulent loan portfolios.

  • Police describe forged documents and schemes to make bad assets appear solid to regulators.

  • The Central Bank ordered the liquidation after arresting the CEO at the airport, attempting to flee the country.

• U.S. Imposes Fresh Sanctions on Maduro’s Network and Six Tankers (Bloomberg) 

  _{^{More: Xinhua}}

  • The Treasury Department targeted four Venezuelan individuals and six oil shipping companies in coordinated action.

  • Sanctions aim to disrupt illicit networks funding the Maduro regime and drug trafficking operations.

  • Action follows tanker seizure as the Trump administration intensifies economic pressure on the Venezuelan government.

FUTURISM

• Microsoft’s Mustafa Suleyman: AI Is Already Superhuman (Bloomberg) _{^{More: Bloomberg Video, Bitcoin, Ethereum News}}

  • Microsoft AI chief pledges to halt superintelligence development if it threatens human safety or control.

  • Suleyman says Microsoft now has the right to develop general AI after the revised OpenAI agreement.

  • He predicts the next five to ten years will see systems setting their own goals.

• AI Company 2wai’s Dead Grandma Chatbot Sparks Ethical Firestorm (Futurism) 

  ^{_{More: Newsweek, Independent, Movieguide}}

  • Disney star’s startup creates AI avatars of deceased relatives using just three minutes of footage.

  • CEO admits controversial ad was designed to spark debate following Friend hardware company’s playbook.

  • Critics call it digital necromancy that commodifies grief while ethical concerns mount over consent.

• Time Magazine’s Unclosable AI Chatbot Blocks Its Own Headlines (Futurism) 

  _{^{More: Columbia Journalism Review}}

  • The TimeAI agent remains fixed at the bottom of the screen, with no close button, obscuring articles.

  • Built with Scale AI using seven hundred fifty thousand archived articles from the magazine’s history.

  • The editor hopes users will spend hours with the agent despite blocking the featured Person of the Year content.

CONTENT

• The Bull Case for 2026 — ft. Tom Lee (Prof G Markets)

  • Tom Lee of Fundstrat explains why easing financial conditions and earnings growth set the stage for a strong 2026.

  • He shares views on Bitcoin, crypto market cycles, and how institutional adoption could shape future asset allocation.

  • Lee discusses AI adoption at Fundstrat and highlights undervalued sectors he believes are mispriced today.

• Why the next AI frontier is phone calls, with Beside CEO Maxime Germain (Access)

  • Besides, CEO Maxime Germain argues voice calls represent the next major frontier for applied artificial intelligence.

  • He explains how AI can analyze conversations, automate follow-ups, and unlock operational insights for businesses.

  • Hosts explore implications for frontline work, customer service, and the future of human-computer interaction.

• Australia Kicks Kids Off Social Media + Is the AI Water Issue Fake? + Hard Fork Wrapped (Hard Fork)

  • Kevin Roose and Casey Newton unpack Australia’s move to restrict social media access for children under sixteen.

  • They examine claims about AI’s water usage, separating environmental concerns from exaggerated or misleading narratives.

  • The episode rounds up the week’s tech news and connects policy debates to broader platform and industry shifts.

EXTRAS

• Top Banks Bet on Argentine Farming Boom With Milei Cutting Taxes (Bloomberg) 

  ^{_{More: TradingView}}

  • Santander and Galicia expand Nera venture, projecting one point five billion in farm credit.

  • President Milei reduced export tariffs on soybeans from 33% to 24%.

  • New credit lines target crop growers and major input providers, such as Syngenta and Corteva.

• New Finance Chief Vows to Axe Bolivia’s Ultra-Cheap Fuel Policy (Bloomberg) 

  _{^{More: Rio Times, Americas Quarterly}}

  • Finance Minister Espinoza plans to eliminate subsidies that cost 6% of GDP next year.

  • Bolivia spent $2 billion on fuel subsidies in 2025, draining treasury reserves.

  • Cheap gasoline at fifty-three cents per liter enables six hundred million in annual smuggling.

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AND MORE

• Iraq’s former president, Barham Salih, has been appointed the next U.N. refugee chief, effective January 1.

• Thailand and Cambodia agree to cease all shooting, announced by U.S. President Trump.

• European Union leaders push to use €210 billion frozen Russian assets to aid Ukraine.

• U.S. Central Command to host Doha conference on Gaza stabilization force plans on December 16.

• More than 12 million people in Myanmar face acute hunger as violence persists.

• EU draft plan seeks to weaken environmental reporting requirements for industries.

• Reading these letters will give you a look inside the minds of some of the greatest leaders of our time.*

• The Reuters Institute Digital News Report shows rising global news avoidance and challenges to trust.

• Ukraine war dialogue includes U.S. proposals for troop withdrawal and economic zone creation.