From the Desk

Musk vs Altman is in trial in Oakland. A Musk win could unwind OpenAI’s for-profit arm and shake Microsoft’s $10B+ stake. An Altman win clears the runway for an OpenAI IPO.

Spirit Airlines is winding down after 34 years. A failed bailout, a fuel shock from the Iran conflict, and a model that finally ran out of room ended the yellow planes for good.

The VIX sits under 20 in early May 2026, but a prolonged US-Iran war that pushes crude toward $200 a barrel could send volatility back to crisis-era levels.

Alphabet’s Q1 2026 net income hit $62.6B, but more than half came from unrealized gains on SpaceX and Anthropic. The world’s biggest ad company is starting to look a lot like a VC.

Allbirds ditches sneakers for GPUs, rebranding as NewBird AI and igniting a retail frenzy that sent $BIRD up as much as 876% intraday.

SEC officially approves major overhaul of day trading regulations, ending the Pattern Day Trader rule.

Fresh assault on already-battered software stocks as Anthropic prepares to unveil Opus 4.7 and a new AI-powered design tool.

Anthropic's decision to withhold its latest frontier model underscores the growing systemic risk that advanced AI poses to financial infrastructure.

In his final months as CEO, Buffett’s only new stock purchase was a newspaper.

If you bought CRISPR Therapeutics stock in 2021, you were told you were buying the future of medicine.

The events in Puerto Vallarta following the reported killing of El Mencho.

The Court ruled that the president cannot use a 1977 emergency powers law to impose sweeping tariffs.

From Super Bowl halftime bets to Venezuela and Israel, Polymarket has become one of the easiest ways to profit from insider information.

The companies that sell you toothpaste and frozen chicken are dramatically outperforming the companies building the future.

Ray Dalio published a sweeping essay on the state of global economics. Here are the key takeaways.

Google’s parent company just did something that even most governments won’t do.

Trump wants to cap credit card interest rates at 10%. Bill Ackman pushed back and got buried.

From AMD-OpenAI to Grindr, 2025 saw a flood of perfectly-timed options sweeps and pre-news flows.

Two Japanese finance professors published a paper claiming overnight returns predict next-day reversals.

If a U.S. move on Greenland triggered Article 5 in reverse, how far could the VIX actually spike?

Nike has endured a painful multiyear drawdown that remains hard to fathom for such an iconic brand.

Zohran Mamdani’s mayoral win revives a provocative thought experiment: what if society capped personal wealth at $1 billion?

A Chinese invasion of Taiwan would be a bigger shock than Ukraine. Here’s why the VIX could reach 60–80+.

Markets despise uncertainty. And midterm elections inject plenty of it into the financial system.

At age 95, Warren Buffett steps down as CEO of Berkshire Hathaway after 60 years.

Stanley Druckenmiller lost $3 billion in the dot-com bubble and delivered one of the most powerful quotes in investing history.

The man who famously called the 2008 financial crisis just shut down his hedge fund.

Mike Green dropped a blunt assessment of Meta Platforms and its fight for survival in the AI race.

Traders call natural gas the “widow maker” because of how often it destroys well-reasoned strategies. Here’s how NG earned its fearsome reputation.

Economists have a terrible track record predicting recessions, yet investors keep bleeding money on crash bets that never pay off.