Good Morning! Meta and Blue Owl struck the largest private-capital deal ever, a $30 billion financing to build an AI data-center campus in rural Louisiana. Gucci owner Kering sold its beauty division to L’Oréal for $4.7 billion

Moody’s says both the banking system and private-credit markets remain sound despite rising concern over bad loans. Gold posting its biggest weekly gain since 2020. Goldman is chasing a bigger piece of the AI-infrastructure financing boom, and Walmart’s employee raises, once criticized by Wall Street, are finally paying off.

Plus: Bankers are grumbling about cramped workspaces inside Jamie Dimon’s $3 billion HQ, AI boom is raising residential rents in San Francisco, and New Yorkers are losing one of their favorite public bathrooms.

The dollar’s purchasing power has rapidly eroded over the years. Find out what Meanwhile is doing to not only preserve your wealth, but grow it.

SQUEEZ OF THE DAY

The Great Robinhood Rebrand

In 2022, Robinhood looked like it had flopped. The meme-stock era had collapsed, its IPO had bombed, and the app that once defined the retail trading boom had become a cautionary tale of the low-interest-rate era, one that inflated questionable companies and embodied Silicon Valley greed.

Three years later, the company is quietly in the middle of one of Wall Street’s greatest comebacks. Robinhood shares have climbed almost 500% since Election Day, the stock joined the S&P 500, and CEO Vlad Tenev is now one of the 500 richest people in the world.

Robinhood’s comeback isn’t fueled by meme stocks or crypto hype this time. Robinhood is repositioning itself from a trading app to a full-service wealth platform, betting heavily on 401(k)s, high-yield savings, and retirement accounts.

The goal is to keep its young customer base as they get older and richer, turning small traders into lifelong clients. Average account balances are still only around $10,000, but Robinhood wants to manage their first paycheck, their first 401(k), and eventually their family wealth.

Tenev’s next frontier is even younger. Robinhood has thrown its support behind a Trump-backed plan to give every child born after July 4, 2026, a $1,000 tax-advantaged investment account. The policy is meant to boost savings rates and financial literacy, but for Robinhood, it is also a generational land grab. As Tenev put it, “Our best shot at getting them is at the beginning.”

Takeaway: It is a remarkable turnaround for a company that just two years ago was accused of turning investing into gambling. The app that fueled the GameStop frenzy is now pitching stability and retirement security, and its stock has boomed as investors predict the company will align with Trump’s market-friendly agenda.

Robinhood built the rails for a generation that would rather swipe than dial a broker, and now it is using those rails to grow from a trading app into an institution.

PRESENTED BY MEANWHILE

Life Insurance That Preserves (and Grows) Your Wealth

Every dollar today buys just 3 % of what it did a century ago. That’s why your savings account isn’t saving; it’s slowly bleeding value to inflation.

Meanwhile offers a life insurance policy denominated entirely in Bitcoin (premiums, reserves, and payouts in BTC) designed to preserve purchasing power rather than erode it.

• What it does: Meanwhile is the world’s first fully regulated Bitcoin‑denominated life insurer, licensed in Bermuda.

• Why it matters: While inflation has erased over 96 % of the dollar’s value since 1915, Bitcoin holds potential to maintain value across generations.

• The benefit: Meanwhile enables Bitcoin holders to protect their family’s future and savings in BTC, insulating them from fiat‑currency decay.

Protect your legacy in an asset that isn’t losing value every year.

HEADLINES

Top Reads

• Meta, Blue Owl seal $30 billion private capital deal for AI (BB)

• Private capital powers a $70 billion global data-center surge (BB)

• Moody’s says U.S. banking system and private credit markets remain sound (CNBC)

• Kering sells beauty division to L’Oreal in $4.7 billion deal (BB)

• Gold and silver hit all-time highs amid credit fears and U.S., China tensions (BB)

• Gold has biggest weekly gain since 2020 as metal goes parabolic (YF)

• Goldman chases bigger share of the AI infrastructure financing boom (WSJ)

• Walmart's boom years started with raises Wall Street decried (WSJ)

• Jamie Dimon wants everyone in the office. Is a $3B building the answer? (WSJ)

• Bezos’ Amazon stake dips below 10% for the first time as sell-off streak continues (NYP)

• Europe’s private equity giants tumble as U.S. bank-lending fears spread (CNBC)

• Smucker faces lawsuit over Trader Joe’s Uncrustables copycat claims (AP)

• Jefferies was 'defrauded’ by First Brands, says chief executive (FT)

• As secondhand luxury soars, authentication becomes a new gold standard (CNBC)

• Private credit billionaire Lawrence Golub says direct lending “isn’t in a bubble” (Forbes)

• Oracle stock sinks 7% as AI conference fails to win over skeptics (CNBC)

• Warren Buffett's master class on the problem with gold (CNBC)

• Blackstone says Wall Street is complacent about AI disruption (FT)

• New Yorkers are losing their favorite bathroom: REI (WSJ)

• AI boom raises residential rents in San Francisco (LI)

CAPITAL PULSE

Markets Rundown

Market Update

• Stocks reversed early losses to close mostly higher, recovering from a sharp premarket selloff tied to regional-bank worries.

• Fifth Third Bancorp helped ease concerns after posting better-than-expected results, leading a rebound in the regional-bank index.

• President Trump signaled a softer stance on China, calling current tariffs “not sustainable” and confirming a meeting with President Xi later this month.

• Consumer staples led gains, while utilities lagged.

• The 10-year Treasury yield rebounded to 4%, gold prices pulled back from record highs, and the dollar strengthened.

Economic Data Highlights

• Regional-bank stress remains in focus after Zions and Western Alliance disclosed sizable loan write-downs tied to fraudulent borrowers.

• Credit conditions outside small banks remain stable, with five of eight major banks beating earnings expectations.

• Default rates remain low, and banks are well-capitalized, suggesting recent losses may be isolated.

• Broader markets continue to price in Fed rate cuts, with expectations for two more moves this year to cushion economic uncertainty.

Reported Earnings

• American Express (AXP) – Results reflected solid consumer spending and stable credit performance.

• Schlumberger (SLB) – Reported strong oilfield-services demand despite weaker crude prices.

• Ally Financial (ALLY) – Results were mixed, as higher auto-loan provisions offset growth in originations.

Earnings Today

• AGNC Investment Corp. (AGNC) – Watch for updates on mortgage spreads and book-value performance amid rate volatility.

Movers & Shakers

• (+) Truist ($TFC) +4% after the bank announced strong Q3 earnings.

• (–) Oracle ($ORCL) -7% after Nvidia’s Jensen Huang warned that useful quantum computing is still decades out.

• (–) Hims & Hers Health ($HIMS) -16% after an $11M insider stock sale.

Prediction Markets

• ~50% think Bitcoin will hit $150K before June 2026

• Trade on real-world events with Kalshi. Use code OWS to get a $10 bonus when you trade $10.

Private Dealmaking

• Deel, a payroll and HR platform, raised $300 million

• Veradermics, a hair-loss biotech, raised $150 million

• Ecorobotix, a maker of smart pesticide spraying systems, raised $150 million

• General Intuition, an AI lab using gaming content for training, raised $134 million

• Adcytherix, a developer of antibody-drug conjugates, raised $114 million

• Peptilogics, a developer of treatments for medical device infections, raised $78 million

For more PE, VC & M&A deals, subscribe to our Buysiders newsletter.

NEIGHBORHOOD WATCH

Real Estate Digest

Need help with real estate? Our official partner, Nest Seekers International, can help you buy, sell, rent, or invest, anywhere in the world. Get in touch here.

The 30-year fixed mortgage rate edged lower again this week, holding relatively steady in recent weeks. The dip has sparked a rise in refinance activity as homeowners take advantage of better rates. Combined with growing housing inventory and slower price gains, the market is becoming increasingly favorable for prospective buyers.

Latest News

• What Can Sellers Expect From the Market for the Remainder of 2025

• Squeezing Builders Isn’t the Way to Lower Housing Costs

• Major Real Estate Developers Are Fast Becoming Power Brokers

• These Are the Most Expensive Zip Codes in the US

New Listings

• 2171 Ridge Dr Los Angeles, CA : 4 Bed / 4 Bath – $3.2M

• 29610 Ojén Ojén, Málaga 29610, Spain: 5 Bed /  5 Bath - $4.1M

• 1420 S Miami Ave Apt: 2602 Miami, FL : 2 Bed /  3 Bath - $2.9M

• 251 W 14th St Apt: 6A New York, NY : 2 Bed / 2.5 Bath - $3.5M 

• 180 Front St Apt: 17E Brooklyn, NY:  3 Bed / 3 Bath – $3.25M

BOOK OF THE DAY

How They Get You

Description: A sharp, engaging field guide through the many hidden traps in modern consumer life, loyalty programs, automatic renewals, late fees, gift-cards with expiry, sneaky supermarket pricing, and how you can recognize and resist them. Kohler uses working knowledge of household finance to equip the reader with clearer choices and stronger boundaries around their money. 

Book Length: 320 pages
Release Date: November 11, 2025  

Ideal For: Anyone who has ever wondered why their bank account doesn’t seem to match their lifestyle; adults, professionals, or anyone trying to tame the credit card jungle and household budget chaos into real clarity and control.

“From loyalty schemes to late fees, gift cards to sneaky supermarkets… this is the ultimate handbook to understanding how the game is played — and how you don’t have to lose every single time.”

DAILY VISUAL

Half of Meals Now Eaten Out

PRESENTED BY VANTA

Manage Third-Party Risk Proactively and Automatically

A robust vendor management program isn’t just required by compliance frameworks like SOC 2 and ISO 27001, it’s also a critical part of a holistic trust management strategy for fintechs.

Implementing a vendor management program, however, has become more complex and challenging with the proliferation of SaaS tools and shadow IT. And many overstretched security teams are being asked to do more with less.

Vanta offers fintechs a single platform to manage growing vendor risk; meaning faster, more efficient security reviews at every stage.

Download this guide to learn:

• Insights from other leaders on how to proactively manage third-party vendor risk

• Tips on dealing with challenges like limited resources and repetitive manual processes

• How security teams can enable the business to move quickly instead of being inadvertent gatekeepers

DAILY ACUMEN

Adaptive Intelligence

Intelligence is not knowledge; it is adaptability.

Markets evolve, industries shift, rules change.

The smartest people are those who update fast.

They do not cling to the old model; they rebuild their assumptions daily.

Darwin called it survival of the fittest, but really it is survival of the flexible.

The faster you can learn, unlearn, and relearn, the longer your edge lasts.

Adaptation is the ultimate alpha.

ENLIGHTENMENT

Short Squeez Picks

• How to coach yourself through complex problems

• 6 red flags narcissists use to manipulate you during an argument

• 5 types of overthinking

• How to improve your VO2 Max

• When to ask your boss for advice to get promoted

MEME-A-PALOOZA

Memes of the Day

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