It’s Veterans Day. Anthropic prices a trillion-dollar IPO, one wire costs a New Jersey town $26 million, and the fastest ocean liner ever built sinks today. Plus, MLK’s lost draft in a desk drawer, Voyager 1’s light-day milestone, and a 100-calorie Starbucks holiday order.
Yesterday’s most clicked link: David Beckham’s 4 habits for feeling good at 80
TOP STORIES
AI’s Big Test
Anthropic set a price range of $70 to $78 a share for its IPO, valuing the Claude maker at up to $1.4 trillion. Up to 20% of the shares could go to regular investors, versus the usual 5% to 10%.
The range sits well below the $2 trillion it reportedly targeted two months ago, after a rough stretch for AI stocks. Nvidia and Google are each buying $10 billion of its stock at the IPO price.
Nvidia itself is wobbling: its shares fell 5.5% Tuesday, a second straight drop, as CEO Jensen Huang faces fallout from an affair with a suspected Chinese spy.
$26 Million Wire
A small New Jersey town lost about $26 million in a fraudulent wire transfer, money meant to buy land for affordable housing. Cranbury’s mayor disclosed the Sept. 28 theft last Friday, more than five weeks later.
Investigators have frozen about $17.3 million, leaving roughly $8.7 million missing, and the town’s insurance covers $5 million. At a packed meeting moved to the library, residents demanded firings. The police chief said he chose to delay the news.
The same scam targets home buyers at closing: Americans reported about $3 billion in email payment scams last year. The FBI’s standing advice is to confirm any large wire by phone, using a number you already have.
Final Voyage
The SS United States, the fastest ocean liner ever built, will be sunk this afternoon about 25 miles off Destin, Florida. At 990 feet, it becomes the world’s largest artificial reef.
Its 1952 maiden crossing took three days, 10 hours and 40 minutes, a record no passenger liner has beaten. The design was kept so secret she was built out of public view, and four presidents sailed aboard.
Okaloosa County bought the hull as a reef big enough to draw divers and anglers, then moved the sinking up a day to dodge high winds.
TOGETHER WITH LMNT
The Free LMNT Sampler You Won’t Find Anywhere Else
Four flavors: Citrus, Raspberry, Watermelon and Orange Salt. Find your favorite, or split it with a friend. It’s free with any LMNT order through our link, for new and returning customers, and it adds itself to your cart. Every stick has 1,000 mg of sodium and zero sugar. Don’t love it? LMNT refunds you, no questions asked.
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GET 1% BETTER
What a Navy SEAL Hung on His Door
In 2007, Navy SEAL Jason Redman was shot eight times in Iraq. At the naval hospital in Bethesda, he taped a sign to his door: anyone coming in with sadness or sorrow shouldn’t bother, because this was a room of “fun, optimism, and intense rapid regrowth.”
His rule now:
No bad days. Most of what we call a bad day is a schedule disruption.
Real bad days leave scars. Physical, mental or financial ones that don’t heal by Friday.
Woke up today? Then it’s still a good day, and you can deal with whatever comes.
Try it once: call today’s next annoyance a schedule disruption, out loud.
How to Explain the Market in 30 Seconds
Somebody’s going to ask you why the market has been so jumpy. You don’t need a chart, a ticker app or an opinion on the Fed. You just need three sentences:
“Companies are spending so much on AI that investors got scared.”
“Inflation is rising.”
“The war in Iran is flipping global markets.”
Say it, take a sip, and change the subject before anyone asks about your 401(k).
BUSINESS & MARKETS
▼ S&P 500
7,520.93 −0.38%
▼ Nasdaq
25,065.88 −0.74%
▼ Bitcoin
$73,696.50 −0.59%
*Stock prices as of Tuesday’s close. Bitcoin as of 5:06 a.m. ET; change is over the past 24 hours.
▲ China’s trade surplus topped $1 trillion through October, the fastest it has ever hit that mark
How it first crossed $1 trillion last year →
▲ The Children’s Place filed for bankruptcy with about 500 stores, and store-closing sales have started
It plans to sell itself by year’s end →
▲ Amazon’s Ring launched a $250 indoor drone camera that flies room to room to check your home
Ring first promised a home drone in 2020 →
TOGETHER WITH COCOJUNE
A Yogurt Bar for the Guest Who Skips Dairy
Somebody at your holiday brunch is going to skip dairy. Give them a bowl that doesn’t taste like the backup plan.
Cocojune is a creamy, plant-based yogurt made with organic coconuts and probiotic cultures. Set out a big bowl with sliced pears, apples, cinnamon and granola, and let everyone build their own. On a busy weekday, it works straight from the container or blended into a smoothie.
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THE OTHER 99%
▲ Zelensky said Ukraine and Russia are weighing a 1,000-for-1,000 prisoner swap after U.S.-mediated talks in Abu Dhabi
Day two turns to land and security →
▲ The House voted 211-204 to send impeachment articles against Defense Secretary Pete Hegseth back to committee
Read the eight articles →
▲ MLK’s handwritten “I Have a Dream” draft sat in an aide’s desk drawer for decades
It could fetch $10 million at auction →
▲ Voyager 1 hits one light-day from Earth Nov. 18, 16 billion miles away after 49 years
See where both Voyagers are now →
▲ Stanford researchers used AI to find a natural molecule that cut food intake up to 50% in animals
The study behind the find →
FUN LINKS
What vets wish civilians understood SURVEY →
Best U.S. cities for veterans, mapped MAP →
Edgar Wright’s new action short for Apple Pay VIDEO →
He lost 54 pounds at 46 in six months ARTICLE →
Two AirDoctor air purifiers for $479 PARTNER* →
4-week strength plan with one dumbbell WORKOUT →
Hot honey Brussels sprouts RECIPE →
Johnny Depp’s wild Ebenezer marketing stunt POST →
The 100-calorie Starbucks holiday order VIDEO →
Every Soup Nazi soup, with recipes RECIPES →
Why 1% Better?
Kaizen: getting a little better every day compounds. Our newsletter aims to help you get a little smarter every morning. We’re inspired by great lifelong learners like Da Vinci and Ben Franklin, who lived by that idea. You’ll see touches of their old journals in our design.
A THOUGHT FOR TODAY
“As if you could kill time without injuring eternity.”
HENRY DAVID THOREAU · WALDEN, 1854
LEONARDO WROTE BACKWARDS. TRY A MIRROR.
