Hello Capitalists,

Here’s everything you need to be following today:

• CBS to buy the Free Press and liberals are furious

• Melania demands responsibility from Tech Titans as AI grows

• Elon’s next pay deal from Tesla is unbelievable

• Guilt tipping is becoming a real problem

• Congressional stock trading could be coming to an end

• Gold hits new all time highs

Today’s markets:

• DOW: 45376.50 (⬇️0.54%) - 🔴

• S&P: 6473.65 (⬇️0.44%) - 🔴

• NASDAQ: 21669.34 (⬇️0.18%) - 🔴

• CBOE VIX Volatility Index: $15.93 (⬆️3.92%) - ⚠️⬆️

CBS to buy The Free Press for $200m and liberals are losing their minds

Liberals erupted in outrage as Paramount’s new CEO David Ellison nears a $200 million deal to buy Bari Weiss’ The Free Press, potentially installing the polarizing journalist in a top CBS News role.

• Weiss’ Controversial Background: Bari Weiss, who left The New York Times in 2020 citing a hostile “illiberal environment,” founded The Free Press, which challenges DEI, gender ideology, and pro-Palestinian narratives.

• Ellison’s Strategic Move: Paramount’s David Ellison, fresh off an $8 billion Skydance merger, aims to revamp struggling CBS News by leveraging Weiss’ anti-woke perspective to boost ratings.

• Mixed CBS Reactions: Some CBS News staff praise Weiss’ critique of legacy media, while others fear her pro-Israel stance could spark internal conflict, especially over Gaza coverage.

• Liberal Social Media Backlash: Critics like Taylor Lorenz and Hasan Piker slammed the move, accusing Weiss of pushing a right-wing and pro-Israel agenda, with some calling CBS News’ shift a credibility risk.

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Melania Trump urges responsible AI growth to tech titans

First Lady Melania Trump speaking to top tech leaders, including Google CEO Sundar Pichai, at the White House Thursday, championed responsible AI growth to shape America’s future, blending innovation with caution.

• Task Force Advances Education: The White House Task Force on AI Education, meeting for the second time, secured over 135 pledges from tech leaders to bolster AI literacy nationwide.

• Presidential AI Challenge Launched: Melania Trump’s August initiative invites K-12 students to use AI for community solutions, culminating in a White House event for winners.

• Be Best Initiative Continues: The First Lady’s advocacy for child online safety, through her Be Best campaign, includes supporting the Take It Down Act against AI-generated explicit imagery.

• Tech Titans Dine Later: President Trump hosted a Rose Garden dinner with tech giants like Mark Zuckerberg and Tim Cook, following the AI meeting, to discuss industry advancements.

Musk’s latest pay deal with Tesla could make him the worlds first Trillionaire

Tesla's board unveiled a staggering $975 billion compensation plan for CEO Elon Musk, potentially making him the world's first trillionaire if shareholders approve and the company hits ambitious milestones by 2035.

• Massive Share Award: The proposed plan grants Musk over 423 million shares, significantly boosting his 13% stake and voting power in Tesla if market cap and operational goals are met.

• Ambitious Performance Targets: Musk must nearly double Tesla’s market cap to $2 trillion for the first award, with final goals including $8.5 trillion and milestones like 20 million vehicles delivered.

• xAI Investment Vote: Shareholders will vote November 6 on Tesla investing in Musk’s AI venture, xAI, raising questions about potential conflicts of interest amid his multiple business ventures.

• Legal Battle Context: The new plan follows a Delaware court ruling voiding Musk’s $56 billion 2018 package, with Tesla’s appeal ongoing and Musk’s political activities impacting the company’s reputation.

Lawmakers are closer than ever to ban Congressional stock trading

Lawmakers are intensifying efforts to ban congressional stock trading, hoping strategic policy tweaks will finally curb conflicts of interest, as bipartisan support grows amid public outcry over ethical concerns.

• Bipartisan Support Grows: A diverse coalition of lawmakers, including Sens. Jon Ossoff and Gary Peters, backs the ban, aiming to restore public trust in Congress.

• Policy Faces Hurdles: Critics argue the ban could unfairly limit lawmakers’ financial freedom, potentially stalling the bill despite recent momentum.

• Public Pressure Mounts: High-profile scandals involving lawmakers’ trades have fueled voter demands for stricter ethics rules in Congress.

• Strategic Compromises Proposed: Supporters are open to adjusting penalties and disclosure rules to navigate political opposition and secure passage.

Watch Related Video:

Asking Wall St. traders “Did you beat Nancy Pelosi’s stock portfolio?”

Americans are done with “Guilt-tipping”

Americans are pushing back against "guilt tipping" at digital checkouts, slashing tip spending by 38% in 2025 as social pressure from screens prompts resentment and calls for fairer wages.

• Tipping Pressure Sparks Backlash: About 20% of Americans tip more due to guilt, but 29% resist, feeling pressured by digital screens, with 37% noting higher suggested tip amounts.

• Economic Factors Curb Tipping: Rising living costs led nearly half of surveyed Americans to reduce tipping, with many believing businesses should pay employees better instead of relying on tips.

• Guilt Tipping Costs Add Up: On average, Americans spend $283 yearly on reluctant tips, averaging $24 monthly, driven by awkwardness or fear of judgment at checkout.

• New Law Offers Relief: The One Big Beautiful Bill Act, effective 2025-2028, allows tipped workers to deduct up to $25,000 in tips from taxable income, covering over 60 jobs.

Gold is surging and this is what is driving it to all time highs

Gold prices soared to a record $3,587 per troy ounce Friday in London, driven by central bank buying and investor fears over U.S. trade wars and Federal Reserve independence concerns.

• Central Banks Boost Demand: Annual net gold purchases by central banks have surpassed 1,000 metric tons since 2022, with 900 tons expected in 2025, doubling the 2016-2021 average.

• Jewelry Demand Plummets: High prices cut gold jewelry demand by 14% to 341 tons in Q2 2025, the lowest since Q3 2020, with China and India leading the decline.

• Retail Investment Shifts: Gold bar purchases rose 10% in 2024, while coin buying fell 31%, with Asia’s high demand driving a 2% net physical investment increase in 2025.

• ETFs Gain Traction: Gold ETFs saw 397 tons of inflows from January to June 2025, the largest first-half gain since 2020, with holdings at 3,615.9 tons by June’s end.