In partnership with
Welcome back!
Here’s your must-read news this morning:
I’ve got all the details for you, so let’s dive in.
— Josh
MARKETS
💰 NYC Millionaires Already Fleeing as Mamdani Wins Mayoral Election
(Credit: ABC News/Screenshot)
The Scoop: With Zohran Mamdani's election as New York City's first self-avowed Democratic-socialist mayor, the "Mamdani effect" has accelerated a preemptive exodus of affluent residents to low-tax suburbs, fueling bidding wars and price surges in Westchester, northern New Jersey, and Fairfield County, MPA reports.
The Details:
Brokers report a 15% jump in Westchester pending home sales year-over-year and a 25% rise in showings since midsummer, driven by fears of Mamdani's pledged tax hikes on high earners and aggressive housing reforms.
In Greenwich and Darien, Connecticut, inventory has plunged more than 80% from 2019 levels, with multimillion-dollar listings selling sight-unseen—often 8% to 20% above ask—amid scarce supply and lower mortgage rates.
Agents like those at Compass describe the frenzy as pandemic redux with added political urgency, coining the "Mamdani effect" for Manhattan and Brooklyn buyers securing suburban stability before inauguration in January.
What’s Next: As Mamdani's socialist agenda takes hold, expect sustained suburban demand to widen the urban-rural divide, while other affluent residents will likely relocate to Florida and Texas.
Market Roundup
🏦 Economy
⭐ Editor’s Pick: The Supreme Court will hear oral arguments on whether Trump's invocation of emergency powers to impose broad tariffs on imports constitutes an unconstitutional overreach of executive authority. (CNBC)
Duffy cautioned that a protracted government shutdown risks "mass chaos" in the skies next week as furloughed air traffic controllers face a second missed paycheck. (WEX)
A report reveals that nearly half of non-citizen households with young children rely on SNAP and WIC benefits through their 96% U.S.-born offspring. (BN)
China suspended a 24% additional tariff on U.S. goods for one year starting November 10, while retaining a 10% levy. (INV)
The 11th U.S. Circuit Court of Appeals upheld Florida's 2023 law barring Chinese citizens domiciled in China from buying property. (RTS)
📈 Hot Stock Picks
⭐ Editor’s Pick: Boston Scientific shares, trading at a compelling 18 times forward earnings, merit a buy rating, according to Barron’s. (BAR)
The Global X Data Center & Digital Infrastructure ETF stands out as the premier vehicle for AI infrastructure investors, delivering undiluted exposure to data-center REITs, with a 35% year-to-date surge. (MF)
CleanSpark's pivot from Bitcoin mining to AI data centers, harnessing low-cost power and superior efficiency earns the stock a strong buy rating, according to Seeking Alpha. (SA)
🏢 Industry
⭐ Editor’s Pick: A UPS cargo jet carrying over 200,000 pounds of fuel erupted in a massive fireball upon crashing into a building near Louisville's Muhammad Ali International Airport, killing at least seven. (AP)
Advanced Micro Devices reported robust Q3 2025 results, with revenue surging 18% to $7.7 billion on AI chip demand, net income climbing to $1.4 billion, and EPS of $0.85. (WSJ)
First Brands Group sued founder Patrick James, accusing him of pilfering over $700 million through fraudulent loans and diversions to bankroll a lavish lifestyle. (CRD)
Hooters, rebounding from Chapter 11 bankruptcy, is reverting to its original beachy uniforms under the stewardship of its founders. (FBN)
🛢️ Energy & Commodities
⭐ Editor’s Pick: U.S. liquefied natural gas exports surged to a fourth straight monthly record of 10.1 million metric tons in October, fueled by new production ramps in Louisiana and Texas. (TCS)
The U.S. and Saudi Arabia are set to deepen mining and critical minerals ties under Vision 2030, eyeing $2.5 trillion in untapped reserves. (AN)
First American Nuclear unveiled plans to build the nation's inaugural closed-fuel-cycle nuclear energy park in Indiana. (WRTV)
Bitcoin stands poised to boost U.S. agriculture by hedging against dollar debasement, slashing land prices through tokenized ownership, and streamlining supply chains via blockchain, according to experts. (AGW)
🌕 Crypto
⭐ Editor’s Pick: Polymarket accurately forecasted Democrat Rep. Mikie Sherrill's victory in the New Jersey gubernatorial race and Zohran Mamdani's win for New York City mayor months in advance. (X)
Bitcoin hovers just below the $100,000 while Ether slipped into negative territory for 2025, as a sharp crypto market pullback erases recent gains. (TB)
Gemini, the Winklevoss-founded crypto exchange, is poised to launch prediction-market contracts on its forthcoming platform. (BBG)
The White House staunchly defended Trump's pardon of Binance founder Changpeng Zhao as a rigorous correction to overreach by the "weaponized" Biden DOJ. (CT)
SPONSOR
Find customers on Roku this holiday season
Now through the end of the year is prime streaming time on Roku, with viewers spending 3.5 hours each day streaming content and shopping online. Roku Ads Manager simplifies campaign setup, lets you segment audiences, and provides real-time reporting. And, you can test creative variants and run shoppable ads to drive purchases directly on-screen.
Bonus: we’re gifting you $5K in ad credits when you spend your first $5K on Roku Ads Manager. Just sign up and use code GET5K. Terms apply.
TECH
💻 Inside Elon Musk's Secret Lab For Training Robots
(Credit: Elon Musk/Screenshot)
The Scoop: Tesla is quietly amassing a vast library of human motion data in a secret Palo Alto lab, betting that exhaustive repetition will transform its Optimus humanoid robot from awkward prototype to mass-market product, Business Insider reports.
The Details:
Dozens of data-collection operators, equipped with helmet-mounted cameras and backpacks weighing up to 40 pounds, perform routine tasks—wiping tables, lifting cups, sorting parts—hundreds of times per shift to generate at least four hours of usable footage.
The regimen, guided by detailed manuals and peer oversight, includes everything from toddler puzzles to AI-generated exercises like squatting or dancing; workers face performance reviews and occasional injuries from the physical demands.
Elon Musk has pegged Optimus as Tesla’s future growth engine, forecasting eventual production of one million units a year and claiming the robot could one day account for 80% of the company’s valuation.
What’s Next: As Tesla races to move beyond teleoperated demos and meet ambitious internal targets, the success of this labor-intensive training program will determine whether Optimus becomes a viable business—or remains an expensive science project.
Tech Roundup
🧠 AI
⭐ Editor’s Pick: Researchers unveiled a bio-inspired AI model that integrates sight and sound like the human brain, drawing from insect motion detection to enable natural multimodal perception for next-generation machines. (IE)
OpenAI CEO Sam Altman faced a dramatic subpoena interruption from activist group Stop AI during a fireside chat with Warriors coach Steve Kerr. (SGF)
Amazon sued Perplexity AI, alleging that its Comet AI shopping agent covertly infiltrates customer accounts and masquerades automated queries as human activity. (RTS)
OpenAI rolled out its Sora AI video-generation app on Android in select markets including the U.S. and Canada. (VER)
Pinterest unveiled its AI-powered assistant, a multimodal shopping tool that leverages voice, text, and images for personalized, visually driven recommendations. (DIGC)
🤖 Hardware & Robotics
⭐ Editor’s Pick: Neuralink's head of surgery heralded the imminent integration of Tesla's Optimus robot with brain implants to enable telepathic human-robot control. (FUT)
Xpeng unveiled ambitious plans to test robotaxi models in Guangzhou next year using its in-house Turing chips, alongside a second-generation Iron humanoid robot for deployment as a tour guide. (CNBC)
Oxford University engineers have pioneered air-powered soft robots that autonomously inflate, move, and adapt without electronics. (GO)
A Deloitte report heralds the dawn of the "physical AI" era, where intelligent robots are set to revolutionize manufacturing, logistics, and construction. (RAA)
🚀 Defense & Space
⭐ Editor’s Pick: Trump renominated billionaire entrepreneur Jared Isaacman as NASA administrator, reviving his bid withdrawn over Democrat donations. (SP)
China unveiled a suite of advanced AI-driven military technologies, including autonomous drones and cyber warfare tools, intensifying the global arms race with the U.S. (JP)
The U.S. Space Force is accelerating deployment of advanced jamming weapons to remotely disable Chinese intelligence satellites. (TE)
Swarmbotics AI unveiled FireAnt, an unmanned ground vehicle enabling swarms of lightweight robots to autonomously detect, track, and neutralize heavy armor like tanks. (IE)
💰Venture Capital
⭐ Editor’s Pick: Sequoia Capital announced that Alfred Lin and Pat Grady will succeed Roelof Botha as firm stewards, with Botha staying involved in the storied venture giant that has distributed $52 billion since 2017. (AX)
Customer-engagement platform MoEngage secured $100 million in a Series F round led by Goldman Sachs Alternatives. (TC)
Video Rebirth, founded by former Tencent executive Wei Liu to pioneer "world model" generative platforms for video, secured a $50 million seed round led by Qiming Venture Partners. (BBG)
Semiconductor startup RAAAM Memory Technologies secured a $17.5 million Series A round led by NXP Semiconductors to propel its on-chip memory technology, which slashes area by up to 50%. (YNET)
FREEDOM
📣 Tommy Robinson Acquitted After Refusing to Unlock Phone Under UK Terrorism Act
(Credit: Tommy Robinson/Screentshot)
The Scoop: British Conservative activist Tommy Robinson has been acquitted of terrorism charges on Tuesday after a judge ruled his border stop under Schedule 7 was likely driven by political bias, not legitimate suspicion.
The Details:
Police detained Robinson at the UK border in 2024 while he was en route to Spain, citing vague reasons such as the car not being his, no pre-booked ticket, and evasive answers.
Judge Goozee found no evidence linking questions to terrorism, noted officers’ confusion over their own powers, and couldn’t rule out that Robinson’s protected political beliefs were the principal reason for the stop.
Since the detention wasn’t proven lawful under the Terrorism Act 2000, the demand for his phone PIN was invalid, leading to acquittal without testing his journalism defence.
What’s Next: The ruling may deter casual Schedule 7 stops on high-profile critics, forcing police to justify actions with hard evidence.
Freedom Roundup
🏛️ Policy & Culture
⭐ Editor’s Pick: Billionaire Jeff Yass pledged $100 million to the University of Austin, the self-styled anti-woke alternative to elite campuses, to fund scholarships. (WSJ)
The U.S. government is ramping up supervisory reviews of the nation's largest banks to verify they've abandoned debanking policies. (RTS)
Jeep is sticking with the Cherokee name for its 2026 SUV despite woke outcry, ignoring the Cherokee Nation's plea to retire it. (NW)
That's a wrap! You're officially caught up on all things tech, markets and freedom. Subscribe to CAPITAL below.
Feel free to reply to this email with any questions and/or comments.
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.
