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

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

🧪 Apple revamps interface team as Dye departs and Sorrentino rises.
🏭 TSMC boosts Arizona chip output with strong yields and expansion.
💼 China’s Proya targets global growth after major e-commerce surge.
📉 Goldman pauses CyrusOne bond sale after CME outage disruption.
🚨 Brazil’s fuel-scheme crackdown lifts distributor shares after major seizures.

TECHNOLOGY

• Meta's Zuckerberg Plans Deep Cuts for Metaverse Efforts (Bloomberg)
  ^{_{More: Yahoo Finance}}

  • Meta considers budget reductions up to 30% for the metaverse division, including Quest headsets and Horizon Worlds.

  • Potential layoffs could begin in January as the company shifts priorities toward AI development and revenue generation over virtual reality.

  • Reality Labs has accumulated losses exceeding $70B since early 2021, with limited mainstream adoption achieved.

• Bad Dye Job (Daring Fireball) 

  ^{_{More: MacRumors, 9to5Mac, AppleInsider}}

  • John Gruber argues Dye's departure represents Apple's best personnel news in decades following controversial Liquid Glass redesign launch.

  • Stephen Lemay replaces Dye, bringing career-long interface design expertise versus Dye's primarily visual and brand-focused background from fashion.

  • Apple's design community reportedly celebrated the change with many designers having left the company during Dye's tenure over direction.

• Apple Design Executive Alan Dye Poached by Meta in Major Coup (Bloomberg) 

  _{^{More: TechCrunch, CNBC, Fast Company}}

  • Alan Dye joins Meta on December 31st as Chief Design Officer, leading a new creative studio for hardware and software integration.

  • Dye led Apple's user interface team since 2015, overseeing Vision Pro and Liquid Glass redesign before Meta recruited him.

  • Deputy Billy Sorrentino also departs Apple for Meta, extending the exodus from the company's design team under Dye's leadership.

BUSINESS

• TSMC's Phoenix Fab Begins Production (New York Times) 

  _{^{More: IEEE Spectrum, NPR, Taipei Times}}

  • TSMC's Arizona facility began high-volume production of four-nanometer chips in the fourth quarter of 2024, with yields surpassing Taiwan fabs.

  • The facility represents the largest foreign investment in a US greenfield project at $165B, creating thousands of jobs.

  • Second fab targeting three-nanometer production by 2028, while the third fab broke ground in April 2025 for advanced two-nanometer processes.

• Billionaire Founder Says China's Proya Cosmetics Wants to Be a Global Brand (Bloomberg) 

  ^{_{More: Business of Fashion, Premium Beauty News, Fashion Network}}

  • Proya became China's first beauty company, surpassing 10B yuan in sales last year, with 95% from e-commerce.

  • Founder Hou Juncheng seeks European brand acquisitions and global expansion beyond being merely a Chinese domestic beauty leader.

  • The company outperformed Estée Lauder and L'Oréal with 21% growth despite a slowing Chinese economy and youth unemployment pressures.

• Goldman Halts Bond Sale for Data Center Firm Tied to CME Fiasco (Bloomberg) 

  _{^{More: Fortune, CNBC, Bloomberg}}

  • Goldman Sachs paused CyrusOne's $1.3B mortgage-bond sale after a 10-hour CME outage caused by a cooling system failure.

  • Aurora, Illinois, facility temperatures exceeded 100 degrees Fahrenheit, disrupting trillions of dollars in global derivatives trading last week in November.

  • Private equity-owned CyrusOne added cooling redundancy after a catastrophic failure raised questions about exchange infrastructure contingency planning.

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MARKETS

WORLD

• Brazil Billionaire Joesley Batista Flew to Venezuela to Urge Maduro to Step Down (Bloomberg) 

  _{^{More: Rio Times, Mix Vale, Charter97}}

  • JBS billionaire Batista traveled to Caracas on November 23rd, meeting Maduro days after Trump's phone call urging resignation and transition.

  • Trip positions Brazilian meat magnate as informal mediator between the Trump administration and the Venezuelan regime amid escalating military pressure operations.

  • JBS maintains $2B meat export contracts with Venezuela, facilitated by Minister Diosdado Cabello, despite the humanitarian crisis and sanctions.

• Trump, Sheinbaum to Meet for First Time at World Cup Draw (Bloomberg) 

  _{^{More: South China Morning Post, Global News, Mercury News}}

  • Mexican President Sheinbaum holds a brief Washington meeting on Friday with Trump during the 2026 FIFA World Cup draw ceremony event.

  • Leaders discuss ongoing tariff negotiations addressing autos, steel aluminum while maintaining cooperation on security issues and sovereignty respect.

  • Meeting precedes 2026 CUSMA trade agreement review, with Trump suggesting possible expiration or renegotiation of trilateral North American pact.

• Brazil Fuel Scheme Crackdown Sparks Rally in Distributor Shares (Bloomberg) 

  ^{_{More: Washington Times, Stabroek News}}

  • Vibra Energia and Ultrapar shares surged 18% and 22%, respectively, following the government crackdown on organized crime operations.

  • Authorities seized 1.2 billion reais in assets from a criminal network involving the PCC gang infiltrating the fuel supply chain through money laundering.

  • Investigation revealed adulterated fuel at 300 gas stations plus illegal methanol imports, facilitating tax evasion totaling billions of dollars.

FUTURISM

• Elon Musk's Grok AI Is Doxxing Home Addresses of Everyday People (Futurism) 

  ^{_{More: DNYUZ, Straight Arrow News}}

  • Futurism review found Grok provides accurate residential addresses, phone numbers, and family member information for non-public figures easily.

  • Chatbot frequently returns additional unrequested personal data, including work addresses, emails, and prior residential history, with minimal prompting.

  • OpenAI ChatGPT, Google Gemini, and Anthropic Claude all declined similar requests, citing privacy concerns, contrasting sharply with Grok's behavior.

• Nearby Residents Say Elon Musk's Gigantic Supercomputer Is Making Them Sick (Futurism) 

  ^{_{More: NBC News}}

  • Boxtown, Tennessee, residents report noxious fumes and health issues from xAI's Colossus supercomputer facility, powered by methane generators.

  • Musk's company operates thirty-five gas turbines without proper permits, becoming the top nitrogen oxide emitter in a predominantly Black neighborhood.

  • The second Colossus facility is under construction nearby after Musk purchased the entire power plant, raising concerns about escalating environmental health impacts.

• OpenAI Says ChatGPT's Random Suggestion to Shop at Target Is Not an Ad (Futurism) 

  _{^{More: WebProNews, DNYUZ, The Conversation}}

  • ChatGPT Pro users reported unexpected Target and Peloton shopping suggestions appearing in unrelated conversations, sparking advertisement concerns.

  • OpenAI executives claim suggestions stem from the Apps SDK development feature, not paid advertising, despite timing coinciding with e-commerce expansion.

  • The company faces scrutiny over transparency as it burns billions quarterly while pursuing aggressive shopping integration and agentic commerce features.

CONTENT

• Democracy vs Monarchy: Curtis Yarvin and Alastair Campbell (The Institute of Art and Ideas)

  • Curtis Yarvin outlines his argument that democratic systems generate fragmentation while monarchical structures promote stability and decisive governance.

  • Alastair Campbell counters that democracy enables accountability, collective legitimacy, and institutional safeguards absent in centralized executive rule.

  • Their discussion explores modern political trust erosion and competing visions for restoring effective governance in polarized societies.

• Neuralink Overview, Fall 2025 (Neuralink)

  • Neuralink demonstrates updated implant capabilities enabling faster signal processing, improved reliability, and expanded neural-to-digital communication pathways.

  • The presentation reviews clinical progress with human participants achieving enhanced control accuracy and broader everyday device interactions.

  • Engineers describe long-term goals involving high-bandwidth brain interfaces supporting mobility restoration, cognitive assistance, and advanced neural therapies.

• Ronny Chieng Investigates the Promises of AI: The Most Expensive Circle Jerk Ever (The Daily Show)

  • Ronny Chieng critiques inflated AI industry promises while questioning whether current systems meaningfully improve productivity or everyday experiences.

  • Interviews highlight concerns about corporate hype cycles, opaque model behavior, and the concentration of power among major AI developers.

  • The segment examines public skepticism toward AI adoption, emphasizing regulatory gaps, economic impacts, and uncertain long-term societal benefits.

EXTRAS

• YouTube’s Right-Wing Stars Fuel Boom in Politically Charged Ads (Bloomberg)

  • Conservative YouTube personalities are drawing significant advertiser spending from brands and political organizations seeking targeted reach.

  • Influencer-led campaigns deliver high engagement among politically active audiences and reshape digital advertising strategies.

  • The shift reflects the growing monetization of ideological content outside traditional media ecosystems.

• Newly Released Photos Offer Glimpse Inside Epstein’s Private Island (Time)
  _{^{More: The Guardian, People, Economic Times}}

  • Authorities released over 150 images and videos showing interiors, including a dentist chair and mask-lined rooms.

  • Investigators discovered a chalkboard of terms like “power” and “deception,” prompting further scrutiny of the site.

  • The release stems from court-ordered disclosures fueling renewed public interest in Epstein’s network.

• Microsoft Slashes AI Sales Targets After Sales Teams Miss Quotas (Ars Technica)

  • Microsoft cut expectations for its AI agents after enterprise clients hesitated to adopt unproven automation tools.

  • The company previously promoted agents as transformational systems capable of managing complex workflows across operations.

  • Slow uptake highlights uncertainty about reliability and return on investment for autonomous AI solutions.

AND MORE

• Germany warns Belgium must share risks if the EU uses frozen Russian assets to fund Ukraine.

• Russia says EU seizure of frozen assets could be viewed as justification for war.

• Russia threatens “harshest response” if EU moves to confiscate its frozen assets.

• European Commission proposes new plan to extend Ukraine support into 2026–2027 after US aid ends.

• Global markets dip on a broad crypto sell-off and increased bond market volatility.

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

• Japanese stocks led slight gains as Asian markets steadied after a strong bond auction calm.

• Oil prices rise after new Ukrainian strikes on Russian infrastructure tighten supply fears.

• IMF head to visit China next week as global lender begins fresh review.