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

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

⚡ Meta aims to enter electricity trading to support future power demands.
🔒 Snap intros bank-linked age verification ahead of Australia’s teen social media ban.
📉 Crypto crash is reducing the wealth of the Trump family and their followers.
🏛️ Byju’s founder plans to appeal the U.S. court order demanding $1B payment.
🚗 Nexperia chip crisis disrupts global auto supply chains once again.

TECHNOLOGY

• Meta aims to enter electricity trading to support future power demands (TechCrunch)
  ^{_{More: Bloomberg, Financial Post}}

  • Meta seeks federal approval to trade electricity, helping secure long-term energy for expanding data centers.

  • Approval would let Meta commit to new power plant purchases while reselling excess electricity to mitigate risk.

  • Meta says expanding power supply is too slow, with huge energy needs requiring multiple new gas plants.

• Snap introduces bank-linked age verification tool ahead of Australia’s teen social media ban (Reuters)
  ^{_{More: The Economic Times, Investing.com}}

  • Snap will let Australian users verify they are over 16 using bank-linked ConnectID or selfie-based k-ID tools.

  • Australia’s under-16 social media ban pushes platforms to comply or face major fines for noncompliance.

  • ConnectID sends only a yes/no age confirmation, aiming to protect minors without exposing sensitive financial data.

• iOS 27 expected to bring performance improvements and new AI features (MacRumors)
  ^{_{More: Yahoo!, Engadget}}

  • iOS 27 will prioritize quality and underlying performance, similar to the Mac OS X Snow Leopard approach.

  • New AI features will be added, extending artificial intelligence capabilities to more Apple apps.

  • Apple Health+ subscription will offer personalized health recommendations, debuting alongside the first iOS 27 beta releases next year.

BUSINESS

• Crypto crash is reducing the wealth of the Trump family and their followers (Bloomberg)
  ^{_{More: The Business Times, The Straits Times}}

  • The Trump family’s crypto ventures, including memecoin and Bitcoin mining, have lost substantial value since August.

  • The broader digital asset sell-off has erased over $1 trillion, significantly impacting followers and retail investors.

  • Despite losses, Eric Trump urges investors to embrace volatility and see dips as buying opportunities.

• Byju’s founder plans to appeal the U.S. court order demanding $1B payment (TechCrunch)
  ^{_{More: Yahoo!, MSN, Business Standard}}

  • Byju Raveendran denies wrongdoing and plans to appeal a U.S. ruling ordering him to pay over $1 billion.

  • The court issued a default judgment after finding repeated noncompliance, evasive responses, and ignored sanctions.

  • His legal team argues the judgment lacked a fair opportunity for defense and overlooked key financial facts.

• BHP abandons final attempt to acquire Anglo American mining company (Reuters)
  ^{_{More: Investing.com, MSN, Bloomberg}}

  • BHP pulled back from pursuing Anglo American takeover just before major shareholder votes on merger.

  • The company cited the strategic merit of the deal but remains confident in its organic growth strategy.

  • Anglo shares have risen significantly this year; BHP stock increased slightly after the withdrawal announcement.

MARKETS

WORLD

• South Korea sees cooperation potential with Taiwan regarding U.S. semiconductor tariff policies (Reuters)
  ^{_{More: Yahoo!, U.S. News}}

  • South Korea says cooperation with Taiwan could help both countries secure more favorable U.S. semiconductor tariff treatment.

  • Seoul recently finalized a trade deal reducing U.S. tariffs, while Taiwan’s negotiations continue and may influence future terms.

  • U.S. may delay planned chip tariffs, while Korean semiconductor exports to America surged due to rising AI chip demand.

• Singapore’s October inflation rises for the second consecutive month, exceeding economists’ forecasts (CNBC)
  ^{_{More: NST, CNA}}

  • Singapore’s consumer prices increased 1.2% in October, surpassing analyst expectations and September’s 0.7% rise.

  • Core inflation also climbed to 1.2%, showing broader price pressures beyond housing and transport costs.

  • Economic growth upgraded to 4% amid strong third-quarter GDP, though exports and trade face mixed performance.

• Nexperia chip crisis disrupts global auto supply chains once again (Reuters)
  ^{_{More: Yahoo!, The Economic Times}}

  • Nexperia’s Chinese factory became a global bottleneck, forcing automakers to cut production unexpectedly.

  • Automakers failed to prepare for geopolitical risks, exposing vulnerabilities in low-tech chip supply chains.

  • The Dutch government reversed Nexperia's takeover, signaling a possible resolution amid China’s control over critical components.

FUTURISM

• Alibaba’s Qwen app launches successfully, aiming to compete with ChatGPT globally (Bloomberg)
  ^{_{More: The Business Times, MSN}}

  • The Qwen app attracted over 10 million downloads in its first week following Alibaba’s relaunch efforts.

  • Alibaba shares rose more than 5% in Hong Kong after reporting rapid adoption of Qwen.

  • The company plans to integrate AI features into e-commerce platforms, positioning Qwen as a fully functioning AI agent.

• Waymo gains approval to expand autonomous operations across the Bay Area and SoCal (TechCrunch)
  ^{_{More: NBC, CBS, Engadget}}

  • California regulators approved Waymo to test and deploy autonomous vehicles across expanded Bay Area and Southern California regions.

  • New permissions include East Bay, North Bay, Sacramento, and a stretch from Santa Clarita down to San Diego.

  • Waymo plans further expansion, including San Diego service by mid-2026, and launches across multiple major U.S. cities.

• Increasing numbers of companies are adopting passwordless authentication for enhanced security (CNBC)
  ^{_{More: SC World, Tech Buzz}}

  • Passwordless authentication eliminates traditional passwords, using biometrics, hardware tokens, or mobile push notifications for verification.

  • Survey shows 92% of CISOs have implemented or plan to implement passwordless systems, up from 70% last year.

  • Companies cite improved employee productivity and better user experience as the main reasons for adopting passwordless authentication.

• Great AI agents start with great prompts*

  • New ElevenLabs guide walks devs through the frameworks, structure, and evaluation methods that make conversational agents reliable, secure, and context-aware.

  • Learn how to build and iterate on prompts that deliver real-world results, fast.

  • Download The Prompt Engineering Guide and start building smarter voice AI systems today.

CONTENT

• Rachel Lockett shares guide on tough conversations, trust-building, and designing a fulfilling life (Lenny's Podcast)

  • Rachel Lockett discusses coaching frameworks, emotional intelligence, and strategies for handling difficult conversations effectively.

  • She explains methods to prevent burnout, strengthen co-founder relationships, and design a more energizing career path.

  • The episode highlights AI’s expanding role in leadership development and tools for clearer company-wide talent decisions.

• Vlad Tenev discusses expanding ownership access and reshaping the future of investing (a16z)

  • Vlad Tenev describes Robinhood’s rule-breaking rise, meme-stock fallout, and efforts to rebuild trust after GameStop.

  • He outlines plans to tokenize private shares, expand retail access, and create prediction markets functioning as truth tools.

  • The discussion explores Robinhood’s ambition to capture massive wealth transfers and redefine participation in modern financial systems.

• J.P. Morgan’s Michael Cembalest discusses navigating risks surrounding a potential AI bubble (The Prof G Pod)

  • Michael Cembalest explains J.P. Morgan’s view of a possible AI bubble and expected correction severity.

  • He discusses preparing for a potential profit-taking spark and outlines major investment risks heading into 2026.

  • The conversation covers market fragility, concentrated tech dependence, asset allocation choices, and broader economic uncertainties.

EXTRAS

• Why now is the best time to invest in climate tech (TechCrunch)
  ^{_{More: Yahoo!, AInvest}}

  • Despite assumptions of a climate tech downturn, new IEA findings indicate stronger momentum and an improved global emissions outlook.

  • The IEA’s worst-case emissions scenario today matches its 2014 best-case projection, reflecting major expectation shifts.

  • Current trajectories show emissions leveling or declining by 2040, though still insufficient for achieving net-zero targets by 2050.

• Tim Cook expected to remain Apple CEO at least through mid-2026 (MacRumors)
  ^{_{More: Yahoo!, Times Now}}

  • Reports suggesting Tim Cook’s imminent departure are considered premature, with no internal signs of resignation.

  • Bloomberg’s Mark Gurman says a CEO change before mid-2026 is highly unlikely at Apple.

  • John Ternus is widely seen as the probable successor whenever Cook eventually steps down.

• X’s new About This Account feature is gaining attention and usage (TechCrunch)
  ^{_{More: Yahoo!, The Verge}}

  • The feature reveals account details, including join date, app source, and geographic location, though data may be inaccurate.

  • Many right-wing “America First” accounts appear based outside the U.S., sparking surprise and online debate.

  • X acknowledges errors for older accounts, promising updates to improve accuracy and secure platform integrity.

AND MORE

• Here are the best Black Friday deals discovered so far this year.

• Right-wing YouTube creators drive growth in politically charged ad campaigns.

• This app can immediately boost your Windows PC’s performance and efficiency.

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

• Thailand considers stricter gold-trade regulations following recent baht fluctuations.

• Beehiiv’s CEO says newsletter saturation is not a major concern.

• Berrettini, Cobolli lead Italy past Spain for third straight Davis Cup title.

• ChatGPT convinced users they were special, which families claim ended tragically.