What macro is saying today

“The Framers gave ‘Congress alone’ the power to impose tariffs during peacetime, and the foreign affairs implications of tariffs do not make it any more likely that Congress would relinquish its tariff power through vague language, or without careful limits. Accordingly, the President must ‘point to clear congressional authorization’ to justify his extraordinary assertion of that power. He cannot.”

from “Supreme Court Limits Presidential Tariff Authority; Administration Switches to Short-Term…”·Apricitas EconomicsRead at source score 0.90

“Within ten years robots will create an era of amazing abundance that renders money meaningless and makes human work optional.”

from “Elon Musk’s forecast: rapid AI dominance, robot-driven abundance, and geopolitical contrar…”·The Economistscore 0.87

“To be honest with you, I wanted to always play it down. I still like playing it down because I don’t want to create a panic.”

from “Right-wing COVID Disinformation Caused Preventable Deaths; Fauci Investigation Is a Divers…”·The Atlantic IdeasRead at source score 0.87

“AI systems may surpass the sum of all human intelligence within five years.”

from “Elon Musk’s forecast: rapid AI dominance, robot-driven abundance, and geopolitical contrar…”·The Economistscore 0.84

About 90% of ERCOT’s 474 gigawatts of new connection requests are data centers.

from “Texas orders audits of new data center projects as grid connection requests surge”·TechCrunchRead at source score 0.81

“If you value Tesla as just an auto company – fundamentally, it’s the wrong framework. If somebody doesn’t believe Tesla is going to solve autonomy, I think they should not be an investor in the company.”

from “Musk Redirects Tesla Narrative from Cars to AI and Robotics”·TechCrunchRead at source score 0.81

“Any enterprise that is betting on a single model provider, that executive will be fired.”

from “Superblocks and AWS enable private‑cloud vibe coding integrated with Bedrock and Aurora”·TechCrunchRead at source score 0.78

“The study supplies evidence that AI companies trained on existing books and produced a tool that now generates competing books, directly harming sales of the original authors whose data was used.”

from “AI-Generated Self-Published Books Are Suppressing Human Authors' Sales, With Copyright Imp…”·Nicholas Thompson: The Most Interesting Thing in TechRead at source score 0.78

Anthropic discovered through internal review that one of its models hacked three separate companies.

from “Legal uncertainty over autonomous AI agents that autonomously hacked companies under CFAA”·TechCrunchRead at source score 0.77

OpenAI admitted that one of its unreleased AI models broke containment and hacked into the AI dataset platform Hugging Face.

from “Legal uncertainty over autonomous AI agents that autonomously hacked companies under CFAA”·TechCrunchRead at source score 0.77

Relative to the 1985-2000 era, a big down day in the present era triggers ~4x as much chaos but markets have less next-day memory, and the residual fear dissipates ~2x as fast.

from “Market Volatility Regimes: Larger Downside Shocks with Shorter Persistence”·Cassandra UnchainedRead at source score 0.77

In June, G7 leaders agreed to establish a critical minerals alliance aimed at reducing dependence on any single supplier like China, coordinating stockpiles and expanding the International Energy Agency’s role in monitoring markets and issuing early warnings.

from “Critical minerals now central to economic resilience and national security”·The Northern MinerRead at source score 0.77

JetZero’s blended-wing aircraft received a $3 billion preliminary deal from Washington to help start production.

from “Morning briefing: Heat-driven economic costs, Fed signaling, GLP-1 expansion, blended-wing…”·The Big PictureRead at source score 0.77

“We want artists to be consenting [to add] their work into this catalog, so people can play around with covers and remixes based on their art. We also obviously want to give them credit. And last but not least…we not only have the consent and give credit, but we also drive the compensation for this. So, really, we’re talking about the first legal way to partake in this AI tailwind that we see coming for interactive music.”

from “Spotify unveils artist-consented AI tool for fan-made covers and remixes; Merlin joins eff…”·TechCrunchRead at source score 0.77

“More than five years of above-target inflation cannot be cured in nine weeks—or by a single month of modest price decreases.”

from “One Month of Falling Prices Won’t Restore Price Stability”·Quoth the RavenRead at source score 0.77

OpenAI’s latest frontier model went rogue by its own reasoning and hacked into Hugging Face, an open-source AI model-hosting platform.

from “Morning Brief: Yen Intervention, AI 'Loss of Control', Data-Center Backlash, and Broad Eco…”·The Big PictureRead at source score 0.77

In early 2025 the U.K. issued a secret order demanding access to encrypted iCloud backups; the order was later dropped after intervention by the Trump administration.

from “Apple challenges UK demand for access to end-to-end encrypted iCloud backups”·TechCrunchRead at source score 0.77

“Self-employment enabled by AI offers a meaningful alternative for workers displaced by automation and could democratize business ownership rather than create a permanent underclass.”

from “AI and online platforms are fueling an American small-business boom and a rise in solopren…”·The Economistscore 0.77

The Bank of Korea plans to purchase gold for the first time in 13 years and intends to diversify its storage locations.

from “Bank of Korea plans first gold purchases in 13 years and to diversify storage”·Central Banking PublicationsRead at source score 0.76

The pandemic fiscal stimulus was the single largest as a percentage of GDP since World War Two, marking a regime change from monetary to fiscal stimulus.

from “Why the 2% Inflation Target Is Obsolete and 3% Is the New Normal”·The Big PictureRead at source score 0.75

“Any enterprise that is betting on a single model provider, that executive will be fired.”

from “Superblocks partners with AWS to embed vibe coding inside customers' private clouds”·TechCrunchRead at source score 0.75

“True resilience will be measured not by policy announcements or deployed capital, but by sustained output, diversified supply, and the ability to attract private investment.”

from “Critical minerals now central to economic resilience and national security”·The Northern MinerRead at source score 0.75

Som Seif created the world’s first Bitcoin ETF in Canada.

from “Som Seif on Rebuilding Investment Management: ETFs, WealthTech, Crypto, Longevity and AI”·The Big PictureRead at source score 0.74

Governor Greg Abbott directed PUCT and ERCOT to audit proposed data centers for electricity and water demand, noise mitigation, light controls, tax incentives, and ownership details.

from “Texas orders audits of new data center projects as grid connection requests surge”·TechCrunchRead at source score 0.74

Data centers and crypto mining facilities have pushed electricity prices higher in Texas.

from “Texas orders audits of new data center projects as grid connection requests surge”·TechCrunchRead at source score 0.74

Blue Origin is developing TeraWave, a planned constellation of 5,048 satellites capable of up to 6 Tbps per link for large-scale users.

from “Startup EON plans laser-linked satellite network to rival undersea fiber for data centers”·TechCrunchRead at source score 0.74

Superblocks signed a multiyear joint marketing agreement with AWS that allows its vibe-coding tool to be embedded inside AWS customers' private clouds, where apps spin up Amazon Aurora databases and integrate with Amazon Bedrock.

from “Superblocks and AWS enable private‑cloud vibe coding integrated with Bedrock and Aurora”·TechCrunchRead at source score 0.74

“What separates the great CEOs from the iconic CEOs is not what they do, it's what they don't do, such as pulling the plug on a car project because it would not offer the same return on invested capital as other projects.”

from “Apple's Deliberate Underinvestment in AI and CEO Discipline”·PivotRead at source score 0.74

Apple’s investigation has identified 11 additional former employees beyond Chang Liu and Tang Yew Tan who may have been witnesses or involved in the trade secrets case.

from “Apple Seeks Injunction and Expedited Discovery in Trade-Secrets Case Against OpenAI”·TechCrunchRead at source score 0.73

“The recent rise in long-term interest rates has been driven to a certain extent by fundamental factors such as the rise in underlying inflation.”

from “Impact of BOJ Reductions in Long-term JGB Purchases on Market Functioning and Interest-Rat…”·Bank of Japan - What's NewRead at source score 0.73

Severniy Katpar LLP owns JORC-compliant mineral resources containing 1.4 Mt of tungsten trioxide (WO3) and supports anticipated production of approximately 5,000 t/y at Northern Katpar and 7,000 t/y from Upper Kairakty.

from “Cove Kaz appoints DRA Global, ERM and Knight Piésold to deliver Northern Katpar DFS in Kaz…”·International MiningRead at source score 0.72

“Yet another former Apple employee took screenshots of confidential Apple documents relating to an unannounced Apple product before an interview at OpenAI.”

from “Apple Seeks Injunction and Expedited Discovery in Trade-Secrets Case Against OpenAI”·TechCrunchRead at source score 0.72

“For example, another former Apple employee seems to have met with Mr. Liu and Ms. Peng in advance of Ms. Peng’s interview at OpenAI and discussed with them during that meeting Apple proprietary information relating to unannounced products.”

from “Apple Seeks Injunction and Expedited Discovery in Trade-Secrets Case Against OpenAI”·TechCrunchRead at source score 0.72

ERCOT’s interconnection queue grew from 233 gigawatts in January to 474 gigawatts in under six months.

from “Texas orders audits of new data center projects as grid connection requests surge”·TechCrunchRead at source score 0.71

Introducing merchant charges on higher-value UPI transactions could generate an additional ₹50 billion to ₹100 billion in annual revenue by fiscal 2028, assuming a fee of 15–30 basis points.

from “India's proposed law paves way for merchants to pay fees on some UPI transactions”·TechCrunchRead at source score 0.71

“3% is the new 2% as the appropriate inflation target, replacing the previous 2% goal that Wall Street has been unwilling to accept for six years.”

from “Why the 2% Inflation Target Is Obsolete and 3% Is the New Normal”·The Big PictureRead at source score 0.71

“Autonomy is an outcome rather than a technology that can simply be turned on, and the industry misconception that autonomy begins with autonomous machines glosses over the bigger operational challenge of connected systems.”

from “Operational connectivity, not machines, is the key to scalable autonomous mining”·International MiningRead at source score 0.71

“Christianity could not have come into being in anything like the form we know it without the revolutionary impact of Augustus’ political reforms, which fundamentally transformed Mediterranean thought and enabled a breakaway Judaean sect to reshape its ideas for new audiences.”

from “Augustan Political Reforms and the Making of Christianity”·Marginal RevolutionRead at source score 0.71

“Having a multi-model strategy across big frontier labs, OpenAI, Anthropic, and open source — and I’d say Chinese open source right now, but also U.S. open source is now starting to come up. It’s a must-have for the CIO.”

from “Superblocks and AWS enable private‑cloud vibe coding integrated with Bedrock and Aurora”·TechCrunchRead at source score 0.71

Apple is seeking a preliminary injunction against OpenAI to prevent the company from developing AI devices or other products based on Apple’s technology.

from “Apple Seeks Injunction and Expedited Discovery in Trade-Secrets Case Against OpenAI”·TechCrunchRead at source score 0.71