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Here’s your must-read news this morning:

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— Josh

MARKETS

💰 Report: Democrats Panic as Warner Bros. Sale Threatens End to CNN’s Liberal Bias

(Credit: Gage Skidmore)

The Scoop: Democrats and Hollywood unions are scrambling to block a potential Paramount Skydance–Warner Bros. Discovery merger, fearing the deal would put CNN under leadership intent on steering the network away from its longstanding liberal bias.

The Details:

  • The merger would place CNN — currently under Warner Bros. Discovery — inside Paramount Skydance, run by David Ellison.

  • Sources say the Ellisons view CNN not just as a business asset but as an opportunity to reset its editorial direction, alarming Democrats who see the network as a key media stronghold.

  • Bari Weiss, now overseeing CBS News after Paramount’s shake-up, is positioned to extend her influence to CNN if the bid succeeds.

  • Sen. Elizabeth Warren lashed out at the merger as “a terrible deal.”

  • The Writers Guild of America claimed the deal would “be a disaster,” vowing to lobby regulators.

What’s Next: Pressure campaigns, public warnings, and regulatory appeals are likely to accelerate as the Ellisons remain frontrunners in the bidding war — raising the real prospect of a dramatic ideological shift inside one of America’s most influential newsrooms.

Market Roundup

🏦 Economy

  • Editor’s Pick: Kevin Hassett, Trump's National Economic Council director, is emerging as frontrunner for Federal Reserve chair. (BBG)

  • U.S. retail sales rose 0.2% in September, missing expectations, as consumers curbed spending amid waning confidence. (WSJ)

  • Commerce Secretary Howard Lutnick is praised for wielding tariffs as leverage to extract EU concessions on regulatory assaults against U.S. tech giants. (BBD)

  • Deutsche Bank forecasts U.S. economic stabilization in 2026 with 2.4% growth amid Trump tax cuts. (INV)

📈 Hot Stock Picks

  • Editor’s Pick: Centrus Energy is emerging as a pivotal enabler in U.S. advanced nuclear technology, poised for 20% annual growth via centrifuge tech, according to Seeking Alpha. (SA)

  • DoorDash shares, down over 30% from October highs to $195.49, present a compelling entry point with analysts' $276 average target implying 41% upside, according to MarketBeat. (MB)

  • Motley Fool spotlighted five stalwart dividend payers—AbbVie (3% yield), Ares Capital (9.8%), Enbridge (5.6%), Realty Income (5.7%), and Verizon (6.7%)—as decade-long holds. (MF)

  • Morningstar awarded Bronze to T. Rowe Price Blue Chip Growth for its deep research, above-average process and people pillars, and robust 2023-2025 performance. (MS)

🏢 Industry

  • Editor’s Pick: Richard Branson announced the death of his wife, Joan Templeman, 80, hailing her as his "best friend, my rock." (IND)

  • HP plans to eliminate up to 6,000 jobs by 2028 to harvest $1 billion in cost savings. (YF)

  • U.S. homebuilders are slashing prices and rolling out reduced mortgage rates as the affordability gap with existing homes shrinks. (FBN)

  • Medicare secured a 71% discount on Novo Nordisk's Ozempic and Wegovy for elderly patients. (BBG)

🛢️ Energy & Commodities

  • Editor’s Pick: Scientists want to use one of the most dangerous volcanoes in the U.S.—Oregon’s Newberry—to produce energy. (PM)

  • China purchased at least 10 U.S. soybean cargoes worth $300 million since Tuesday. (RTS)

  • Trump administration proposed easing EPA soot regulations and extending coal-ash deadlines to lower energy costs and preserve jobs in coal-dependent regions. (EN)

🌕 Crypto

  • Editor’s Pick: Texas launched its Strategic Bitcoin Reserve with a $5 million purchase of BlackRock's IBIT ETF, marking the first such state-level allocation in the U.S. (BM)

  • Polymarket won CFTC clearance to relaunch in the U.S. as a regulated prediction exchange. (CD)

  • A Nevada federal judge ruled Kalshi falls under state gaming regulations, lifting prior injunction and empowering the Gaming Commission to enforce against the prediction-market platform. (SBD)

  • An armed robber posing as a deliveryman stormed the home of OpenAI CEO Sam Altman's ex-boyfriend Lachy Groom and drained $11 million in crypto holdings in a targeted heist. (NYP)

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TECH

💻 OpenAI Cofounder Ilya Sutskever Warns AI Model Scaling Has Stalled

(Credit: Dwarkesh Patel Podcast/Screenshot)

The Scoop: Ilya Sutskever, OpenAI co-founder and now Chief Scientist of Safe Superintelligence (SSI), resurfaced in a rare podcast interview with Dwarkesh Patel to deliver his sharpest critique yet of the AI industry.

The Details:

  • Sutskever said the era of scaling is ending because current models deliver diminishing returns despite massive compute.

  • Sutskever argued that large models perform well on benchmarks but remain unreliable in real-world use.

  • Sutskever described AI development as “jagged,” noting that systems can improve in one domain while regressing in another.

  • Sutskever said the scaling paradigm monopolized research attention and “sucked all the air out of the room.”

  • He argued that future progress requires discovering a new underlying principle of machine learning, declaring, “It's back to the age of research again.”

What’s Next: SSI now faces a pivotal test: proving it can deliver the scientific breakthrough Sutskever says the rest of the industry has missed. If SSI can demonstrate even a small, repeatable advantage, it could reset the entire AI roadmap.

Tech Roundup

🧠 AI

  • ⭐ Editor’s Pick: Nvidia asserted its GPUs hold a generational edge over Google's AI chips in performance and versatility, dismissing Meta's potential TPU adoption. (CNBC)

  • Researchers unveiled NaviSense, an AI smartphone app that enables visually impaired users to "feel" objects' locations in real time. (TEX)

  • Google's Gemini is eroding ChatGPT's once-dominant product edge with "Dynamic View," an interactive canvas featuring real-time visuals like calculators and toggles, according to tech observer M.G. Siegler. (SPGL)

  • Character.AI launched “Stories,” a new format that allows users to create interactive fiction that features their favorite characters. (TC)

🤖 Hardware & Robotics

  • ⭐ Editor’s Pick: Skyborne Technologies unveiled CODiAQ, a quadruped robot armed with AI-driven grenade launchers and shotguns for autonomous targeting in urban combat. (ELE)

  • Unitree's G1 humanoid robot executed fluid basketball maneuvers like dribbling, passing, and shooting. (IE)

  • Tesla plans to double the company's Austin robotaxi fleet next month. (STW)

  • Uber and WeRide rolled out fully driverless robotaxis on Abu Dhabi's Yas Island in the UAE. (VER)

💰Venture Capital

  • ⭐ Editor’s Pick: Harmonic, the AI math startup co-founded by Robinhood CEO Vlad Tenev, raised $120 million in Series C funding led by Ribbit Capital at a $1.45 billion valuation. (RTS)

  • Startup Clover Security raised $30 million in funding led by Notable Capital and backed by Wiz founders. (CTECH)

  • Cerrion, a developer of AI video agents for real-time detection, secured $18 million Series A funding led by Creandum. (TEU)

  • Cybersecurity startup Vijil, founded by ex-AWS leaders, raises $17 million in Series A funding led by BrightMind Partners. (SW)

FREEDOM

📢 FBI Probes Democrats After Video Telling Troops to Refuse “Illegal Orders”

(Credit: DoW/U.S. Air Force Staff Sgt. Madelyn Keech)

The Scoop: The FBI is seeking interviews with Sen. Mark Kelly (D-AZ) and five other Democratic lawmakers over their appearance in a brazen video urging U.S. service members to reject so-called unlawful orders, CNBC reports.

The Details:

  • The video featured Sen. Mark Kelly, Sen. Elissa Slotkin, and Reps. Jason Crow, Maggie Goodlander, Chris Deluzio, and Chrissy Houlahan encouraging troops to refuse illegal commands.

  • Slotkin said the FBI’s Counterterrorism Division opened an inquiry into the video.

  • Pentagon Chief Pete Hegseth publicly attacked Kelly for improperly displaying his Navy medals, warning he could face a uniform inspection if recalled to service.

  • The Pentagon is investigating Kelly for potential UCMJ violations and says he could be recalled to active duty and court-martialed.

What’s Next: Expect Republicans and national-security hawks to intensify scrutiny of the lawmakers, arguing their video crossed a line by publicly urging troops to defy orders and undermining military discipline.

Freedom Roundup

🏛️ Policy & Culture

  • Editor’s Pick: Australian Senator Pauline Hanson was barred from the Senate until February 2026 for donning a burqa and high heels in protest against Muslim coverings, sparking free speech concerns. (BN)

  • U.S. UN Ambassador Mike Waltz announced over $1 billion in savings through 25% peacekeeping cuts and 15% budget trims, vowing to slash 2,600 bureaucrat jobs. (X)

  • Pentagon plans to sever ties with Scouting America over its "woke" embrace of girls and LGBTQ+ members. (SSBC)

  • Microsoft will not publish an updated version of its annual diversity and inclusion report for 2025. (ESGD)

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DISCLAIMER: The CAPITAL newsletter is for informational purposes only and does not constitute financial, investment, or professional advice. Readers should conduct their own research and consult a qualified financial advisor before making investment decisions. The CAPITAL newsletter and its owner and operator, Josh Caplan, are not liable for any loss or damage resulting from reliance on this information. The CAPITAL newsletter is solely owned and independently operated by Josh Caplan, separate from any employer affiliations.

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