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

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

📱 Samsung launches Galaxy Z TriFold, its new triple-fold phone.
🔥 Amazon’s Trainium3 chip boosts performance and improves Nvidia compatibility.
📉 Mexico’s political risk climbs amid violence, stagnation, and rising tensions.
⚡ Europe cuts emissions but faces soaring electricity cost,s hurting industry.
🧪 Poetic prompts successfully jailbreak leading AI models, exposing vulnerabilities.

TECHNOLOGY

• ChatGPT to Start Showing Ads, OpenAI Confirms (The Independent)
    _{^{More: TechRadar}}

  • OpenAI prepares advertising rollout as engagement flattens and revenue growth slows across major product lines.

  • Leadership positions ads as a strategic bridge toward broader monetization and future consumer-focused offerings.

  • Analysts warn ads could undermine trust if targeting systems reshape user expectations or product behavior.

• Amazon Releases an Impressive New AI Chip and Teases a Nvidia-Friendly Roadmap (TechCrunch) 
  _{^{More: The Register, AWS Official, DCD}}

  • Amazon launched Trainium3 UltraServer with 3-nanometer chips delivering four times faster performance than the previous generation.

  • The system can link thousands of servers, providing up to one million chips simultaneously while being 40% more energy efficient.

  • Trainium4, already in development, will support Nvidia's NVLink Fusion, allowing interoperability with Nvidia GPUs for enhanced performance.

• OpenAI CEO Declares 'Code Red' to Combat Threats to ChatGPT, Delays Ads Effort (The Information) 
  _{^{More: Fox Business, Bloomberg, Search Engine Journal}}

  • Sam Altman announced an internal code red, prioritizing ChatGPT improvements while postponing advertising and other initiatives.

  • OpenAI faces mounting competitive pressure as Google's Gemini reached 650M monthly users from 450M earlier.

  • The company will hold daily calls for those enhancing ChatGPT and plans a new reasoning model next week.

BUSINESS

• Samsung's Next Salvo Against Apple: A Triple-Folding Smartphone (WSJ) 
  _{^{More: CNBC, GSMArena, TechRadar}}

  • Galaxy Z TriFold features a 10-inch display when fully unfolded and a 6.5-inch cover screen measuring 3.9mm at the thinnest point.

  • The device launches in South Korea on December 12 at $2,450 with US availability planned for Q1 2026.

  • Samsung positions this as a multi-fold pilot to reinforce technology leadership ahead of Apple's expected foldable entry.

• Strategy Cuts Outlook, Establishes $1.44 Billion Reserve Amid Bitcoin Selloff (WSJ) 
  _{^{More: Decrypt, Bitcoin Magazine, CoinDesk}}

  • Strategy established $1.44 billion cash reserve to cover dividends and debt obligations amid Bitcoin price volatility.

  • The company revised year-end Bitcoin price expectations from $150,000 down to $85,000-$110,000 range for 2025 guidance.

  • Strategy holds 650,000 Bitcoin, representing 3.1% of total supply, but may sell if market-adjusted NAV drops below one.

• Avoid the $100k visa headache—go borderless*

  • U.S. companies are sidestepping new H-1B costs by hiring remote LATAM talent. Same time zones, fluent English, no red tape.

  • The H-1B Talent Crunch 2025 report reveals how forward-thinking teams scale faster and cut hiring costs by 70%.

  • Get real insights from leaders building distributed teams that deliver—without the visa stress.

MARKETS

WORLD

• Trump Pardons Ex-Honduras Leader Convicted of Drug Trafficking (Bloomberg) 
  _{^{More: CNN, CBS News, Axios}}

  • President Trump granted a full pardon to Juan Orlando Hernández, who was serving a 45-year sentence for drug trafficking.

  • Hernández was convicted of conspiring to import over 400 tons of cocaine into the United States during his presidency.

  • The pardon came ahead of the Honduran election, tied to Trump backing a conservative candidate with conditional U.S. support.

• Mexico Political Risk Hits Peru Level as Sheinbaum Support Sags (Bloomberg) 
  _{^{More: Atlantic Council, Al Jazeera, Mexico News Daily}}

  • Mexico's political risk escalated to levels comparable with Peru as citizens express frustration over cartel violence and a stagnant economy.

  • President Sheinbaum's approval faces mounting challenges amid diplomatic tensions with Peru over asylum decisions.

  • The assessment reflects growing concerns about economic policy uncertainty and institutional weakening under Mexican administration.

• Europe's Green Energy Rush Slashed Emissions—and Crippled the Economy (WSJ) 
  _{^{More: Euronews, Bruegel, CEPA}}

  • Europe's aggressive push to eliminate fossil fuels reduced emissions but brought dramatically higher electricity costs, hobbling industry.

  • The continent faces achieving only 25% electrification by 2030, far short of 32% needed to meet climate commitments.

  • High energy prices are deterring household adoption of clean technologies and undermining European industrial competitiveness significantly.

FUTURISM

• Poems Can Trick AI Into Helping You Make a Nuclear Weapon (Wired) _{^{More: Futurism, The Week, PC Gamer}}

  • European researchers discovered adversarial poetry successfully jailbreaks major AI models with success rates up to 90%.

  • Poetic prompts bypass safety features in ChatGPT Claude and other models, revealing nuclear weapons malware.

  • The technique exploits how AI processes unpredictable low-probability word sequences characteristic of poetry versus standard prose.

• OpenAI Preparing to Stuff Ads Into ChatGPT (Futurism) 

  _{^{More: BleepingComputer, MacRumors, TechRadar}}

  • An engineer discovered code in ChatGPT Android beta referencing ad features, including search ads carousel and bazaar content.

  • OpenAI has been hiring advertising talent from Google and Meta while posting ad-related job listings on LinkedIn.

  • The company faces pressure to demonstrate profitability as spending continues ballooning past what subscriptions alone can support.

CONTENT

• How Much BIGGER Can China’s Trade Surplus Get? | Prof G

  • The episode analyzes China’s expanding trade surplus and structural forces driving persistent export dominance despite slowing domestic demand.

  • Discussion highlights weak consumer spending, industrial overcapacity, and policy frameworks that constrain imports while amplifying global market reach.

  • Broader implications include mounting geopolitical strain as China’s surplus reshapes competitive dynamics and intensifies pressure on trading partners.

• How Silicon Valley Infiltrated the White House | Prof G Markets

  • The hosts examine how leading tech executives gained unprecedented access to the White House, signaling deeper political entanglement.

  • Conversation explores incentives behind Silicon Valley’s Washington engagement and how policy alignment could privilege dominant digital platforms.

  • The episode warns that merging corporate ambitions with state influence may erode democratic safeguards and distort market competition.

• Apple gadgets, ranked | The Vergecast

  • The team debates standout Apple devices across product lines, weighing performance, cultural impact, longevity, and category-defining innovation.

  • Hosts compare strengths and shortcomings among flagship phones, tablets, laptops, and wearables to determine overall hierarchy.

  • Final rankings reflect consensus on how design quality, ecosystem integration, and market relevance shape Apple’s most influential hardware.

EXTRAS

• Europe's Green Energy Rush Slashed Emissions—and Crippled the Economy (WSJ) 
  _{^{More: Bloomberg, Reuters, Euronews}}

  • Europe achieved the world's steepest emissions drop of 30% since 2,005 compared to the US's 17% decline.

  • European Union industrial electricity costs roughly twice US levels and 50% higher than in China, threatening industrial competitiveness.

  • Europe moved to replace fossil fuels rapidly before alternatives are fully operational, cutting a major energy source prematurely.

• Australia's Second Quarter Raising Third Fund Targeting $2.6 Billion Opportunity (WSJ) 
  _{^{More: Capital Brief, Business News Australia, Startup Daily}}

  • Sydney-based SecondQuarter Ventures is raising its third fund, targeting an estimated four billion dollars in private market liquidity demand.

  • The firm already secured early commitments from Australian superannuation funds and investors.

  • Portfolio includes stakes in major Australian startups, including Canva, valued at forty-two billion dollars in a secondary share sale.

• Santander to Sell Stake in Polish Subsidiary for Around $473 Million After Erste Group Deal (WSJ) 
  _{^{More: Bloomberg, Reuters}}

  • Santander completed accelerated placement, selling 3.5 eight million shares, representing a 3.5% stake.

  • The transaction leaves Santander with a 1.7% stake after the May agreement, selling 49% to Erste Group Bank.

  • The sale is priced at 482 zlotys per share, representing a 5.5% discount to Monday's closing price.

AND MORE

• OECD says global economic growth remains resilient, despite tariff risks.

• Online travel platform Klook delays planned US listing until early 2026.

• Reuters NEXT summit set to feature global leaders, including top UN officials, in New York.

• Global markets begin December unsettled as manufacturing data weakens and yields rise.

• European police shut down a crypto-mixing service allegedly laundering €1.3 billion.

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

• Data-center energy demand projected to jump nearly 300% by 2035 amid growing AI infrastructure.

• Indian miner Vedanta’s demerger plan faces government objection, delaying restructuring.

• Multilateral lenders pledge about $6 billion to accelerate Africa’s electrification push.