On The Deals Shaping Our Economy
OpenAI's $1.5T Gamble Amid "Lying" Claims
OpenAI is committing to an eye-watering $1.5 trillion in computing deals—including a new $38 billion pact with Amazon—while explosive deposition transcripts reveal the internal chaos that led to Sam Altman's ouster.
The spending spree: The "lossmaking start-up" is racing to secure computing power, signing massive deals with AWS, Nvidia, Oracle, Google, and others.
The 7-year, $38 billion AWS deal lessens its dependence on Microsoft and provides immediate access to Nvidia chips.
This comes as the company lost a staggering $12 billion in the last quarter alone.
CEO Sam Altman is betting big, projecting $100 billion in revenue by 2027 and planning to add energy capacity "equal to that of a nuclear power plant each week" from 2030.
The ouster, explained: A deposition from co-founder Ilya Sutskever in the Musk v. Altman lawsuit reveals the board's rationale for firing Altman.
Sutskever sent a memo to independent directors (via disappearing email) recommending Altman's termination.
He believed Altman showed a "consistent pattern of lying, undermining his execs, and pitting his execs against one another."
"I felt that, had he become aware of these discussions, he would just find a way to make them disappear."
Yes, but: Sutskever now admits the board's process was "rushed" and that he relied heavily on secondhand information from Mira Murati, which he did not independently verify.
He also confirmed a post-ouster proposal for OpenAI to merge with Anthropic, which he was "very unhappy about" but other board members, especially Helen Toner, were "a lot more supportive" of.
The bottom line: OpenAI is placing one of history's largest financial bets on AI dominance, all while navigating the fallout of a boardroom coup built on secondhand claims.
SCOTUS Weighs Fate of Trump's "Tariff Switch"
The Supreme Court is hearing arguments this week in what Donald Trump calls "the most important case ever," which will decide if his use of emergency powers to impose tariffs is constitutional.
The big picture: The case challenges Trump's use of the International Emergency Economic Powers Act (IEEPA) to wage his trade wars. A loss could curb his presidential power, jeopardize $50 billion in 2025 tariff revenue, and "destroy the Oval Office 'tariff switch.'"
Businesses are pushing back hard. About 40 legal briefs from groups like the U.S. Chamber of Commerce argue the "irreparable harms already suffered" are delaying investment.
Trump's lawyers argue that stripping this authority would "thrust America back to the brink of economic catastrophe."
"It is practically what the American Revolution was fought over: the principle that taxation is not legitimate unless it is adopted by the representatives of the people."
What's next: The ruling will determine whether using "emergency powers to bypass Congress becomes a tool of routine governance."
🇿🇦 South Africa's Data Agency in "Crisis"
Statistics South Africa (Stats SA), the country's national statistics agency, is facing a severe "cash crunch" that threatens the credibility of vital government data.
Why it matters: The underfunding is undermining Stats SA's ability to produce reliable data on everything from GDP and inflation to labor and poverty stats—data the government and businesses depend on.
Go deeper:
The Statistics Council, a 25-member panel that signs off on national stats, said the underfunding has "now reached a crisis point."
The agency is struggling with high vacancy rates. In the 2024/25 financial year, it had over 700 vacancies but its budget only allowed it to advertise seven.
The economic data branch (which produces GDP and CPI) is in a "vulnerable position" due to losing experienced staff, leading to data delays.
For household surveys, the "out-of-scope rate" has exceeded 20%, which "significantly compromises the quality" of the stats.
"The council firmly believes that if Stats SA's financial position is not addressed as a matter of urgency, it will not be able to fulfil its pivotal role..."
Prior Poll Results:
Looking ahead 10 years, which skill set will be the most critical differentiator for a successful career in finance?
🟩🟩🟩🟩🟩🟩 A) Technical Execution: (The "Workhorse") Deep expertise in building and executing complex financial models. (36.8%)
🟨🟨🟨⬜️⬜️⬜️ B) AI Oversight & Interpretation: (The "Managing Analyst") The ability to audit, test, and interpret AI-generated outputs. (21.1%)
🟨🟨⬜️⬜️⬜️⬜️ C) Strategic Communication: (The "Showhorse") Elite storytelling, client management, and human judgment. (15.8%)
🟨🟨🟨🟨⬜️⬜️ D) The AI Integrator: (The "Architect") The strategic vision to redesign workflows and talent structures around AI capabilities. (26.3%)