Good morning readers. In a move that's bound to leave a trail of dropped jaws in boardrooms and smoke circles alike, Snoop Dogg has decided to give his lungs a breather from marijuana. This revelation is quite the surprise for the rapper known for his deep-rooted love for weed, which even led him to smoke in the White House. Remember, this is the guy who once had a full-time blunt roller and took 81 smoke breaks daily. Talk about a high-profile change.

Let’s jump into today’s storylines.

In today’s digest:

• Investors try and get Sam Altman back as CEO

• Headline Hustle: Javier Milei is Argentina’s new president, Meta breaks up Responsible AI team, advertisers retreat from X

• Miss Universe’s progressive pivot

• The Week Ahead: What to Expect

• Pulse Points: What’s Trending

TECHNOLOGY

OpenAI’s investors: “We want Altman back”

Sam Altman's sudden departure from OpenAI's helm has sent shockwaves through the tech world, with Microsoft and Thrive Capital—the company's primary financial muscle and second-largest shareholder, respectively—scrambling to rectify the situation. They're not just bystanders; they're influential figures advocating for a leadership reversal. But Altman isn't just walking back in; he's calling for a new board and governance overhaul, pointing to the heart of the conflict: a tug-of-war between the existing governance model and his strategic vision.

The Altman aftershock

The repercussions of Altman's ouster have rippled through OpenAI, sparking protests and high-profile resignations like that of co-founder Greg Brockman. This internal conflict highlights a gap within the organization over its trajectory and leadership, reflecting the broader tension between OpenAI's rapid commercial push and its foundational ethos. The unique governance framework—a nonprofit board with a controlling stake over a profit-driven arm—has only added fuel to the fire, emphasizing the intricacies of managing transformative tech within unconventional structures.

Big picture: This leadership shake-up has put critical financing deals on shaky ground and nudged corporate clients towards the exit, underscoring the ripple effect of such a high-stakes situation. Beyond the immediate financial turbulence, this saga raises a red flag over the delicate balance of commercial ambition against the responsible development of AI. The potential reinstallation of Altman, subject to a governance revamp, could mark a pivotal shift in OpenAI's strategic direction and ideology. How this saga ends could very well shape the future of AI research and its governance.

Headline Hustle

🇦🇷 Javier Milei becomes Argentina’s new president. Javier Milei, the 53-year-old libertarian congressman with the iconic Wolverine sideburns, has swept into the Argentine presidency with a stunning 56% vote, upending the status quo. This victory marks a seismic shift from populist governance to Milei's radical free-market mantra, signaling an end to Argentina's era of high inflation and deepening poverty. His promises? Adopting the U.S. dollar, dissolving the central bank, and leaning towards U.S.-centric trade policies. Yet, Milei's path won't be a cakewalk. He faces a divided nation and a congress teeming with opposition, ready to challenge his anarcho-capitalist dreams.

🤖 Meta breaks up its Responsible AI team. Meta's Responsible AI team is now disbanded, with members shuffled into new roles focusing on the AI product line and infrastructure. Despite this shake-up, which follows a reportedly previous thinning of the RAI ranks, Meta insists responsible AI remains a priority. Their commitment to AI's safety and ethics still stands—or so says the company's rep, even as the RAI team's dissolution raises eyebrows amidst global calls for stringent AI regulation. With governments scrambling to set AI boundaries, Meta's move could be a chess piece in a much larger game of tech strategy.

💻️ Advertisers retreat from X over hate speech row. In a night-time tweet-storm, Elon Musk, the tech mogul turned social media CTO, threatened "thermonuclear" legal action against Media Matters and its affiliates for what he sees as a "fraudulent attack" on his platform, X. This comes after advertisers hit pause on spending following a Media Matters report showing their ads alongside pro-Nazi content, a situation exacerbated by Musk's own controversial tweets, which even the White House labeled as a promotion of "antisemitic and racist hate." Musk's response? Promoting a premium ad-free X and calling out "oppressor" advertisers. Amidst the furor, X's spokesperson accused Media Matters of contriving the offending ad placements.

RETAIL

Miss Universe's New Era: Glitz, Glamour, and Growing Pains

Miss Universe is strutting into a new era, and the spotlight's on Jakkaphong Jakrajutatip, the trans trailblazer and Thai media titan shaking up the sash-and-tiara world. With her trademark flair and sharp business sense, she's vowed to give the fading pageant a glam makeover. But behind the sequins, there's trouble brewing: JKN Global Group, the pageant's parent company, hit a financial snag, missing a loan payment and seeking a rescue plan. And with the sudden adieu of Paula Shugart, the pageant's long-serving president, you can say it's been a rocky start for the reign of inclusivity.

Beauty rebranded

Jakrajutatip isn't just about the flash; she's bringing substance to the stage. Breaking down barriers, she's thrown open the doors to mothers and married women, sending a clear signal: inclusivity is the new sexy. But old habits die hard. The pageant, still shaking off shadows from its Trump-era controversies and grappling with the swimsuit event debate, is treading a tightrope between tradition and progressive values. It's a balancing act that mirrors the broader societal shifts around gender norms and women's roles.

The road ahead? CEO Amy Emmerich’s vision suggests a savvy blend of old and new. Think sponsorships, experiential elements, all while keeping an eye on the pageant's essence. This isn’t just a beauty contest; it’s a brand evolution story. As Miss Universe struts onto the global stage, it faces the tricky task of staying true to its roots while strutting into a world that's rapidly redefining beauty and empowerment. It’s a high-stakes catwalk, and the world is watching. Will Miss Universe dazzle or stumble? Only time will tell.

WEEK AHEAD

What to expect

• In the US, the pre-Christmas holiday season kicks off with Thanksgiving and Black Friday, with President Biden hoping for a boost in consumer spending.

• A dwindling number of companies, including Nvidia and Best Buy, are set to announce their earnings as the season closes.

• A series of economic updates are due, including G7 PMI data and inflation reports from Japan and Canada, with no change expected in China's loan prime rate.

• The ECB and the US Federal Reserve will release minutes from their monetary policy meetings.

• The 60^th anniversary of President John F. Kennedy's assassination, CS Lewis's death, and the first broadcast of "Doctor Who" will be commemorated on Wednesday.

SNIPPETS

Pulse Points

• Israel and Hamas are nearing an international agreement to cease hostilities and release about 240 hostages, amidst concerns over the civilian impact of Israel's incursion into Gaza.

• SpaceX's massive Starship rocket's second test flight surpassed its previous effort, despite an early conclusion due to the vehicle's explosion.

• Former U.S. First Lady Rosalynn Carter, a significant adviser to her husband, President Jimmy Carter, has passed away at 96 in Plains, Georgia, as reported by the Carter Center.

• Novak Djokovic claimed his seventh ATP Finals title by dominantly defeating local favorite Jannik Sinner, achieving another milestone in his illustrious career.

• You could owe 0% capital gains tax for cryptocurrency in 2023. Here’s what crypto investors need to know.

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