Dec 02, 2025

Email 1:

Subject: Taiwan Caution Amid Coming Thailand Foreign Policy Signposts

Summary: Thailand is clarifying its stance on the recent China-Japan dispute over Taiwan amidst important upcoming foreign policy engagements. The country’s foreign minister is active in navigating shifting US-China relations, addressing issues such as scam networks that affect regional partners. December is seen as a critical month for enhancing Thailand’s diplomatic visibility globally. Foreign Minister Sihasak Phuangketkeow’s recent visit to India highlights Thailand’s diplomatic efforts and its strategic partnerships. Thailand aims to play a diplomatic role in tackling scam-related crimes, a major concern among ASEAN, APEC, and EU partners, with a backlog of about one million scam cases in Thailand alone. The developments have broader regional and global implications for Indo-Pacific geopolitics and economics.

Email 2:

Subject: Need to Know: New study finds these politicians are the best stock pickers

Summary: A new academic study reveals that Congressional leaders outperform their peers by 47 percentage points annually in stock picking after ascending to leadership roles. The study explains this outperformance by leaders’ control over legislative agendas, influence on regulatory activities, and access to corporate executives related to campaign contributions or home state businesses. The leaders’ trades tend to predict positive corporate news within a year, particularly dividend increases rather than negative events. Though the study covers a small sample from 1995 to 2021 and has limitations, the findings are significant. Despite the passage of the Stock Act in 2012 reducing trading transactions, leaders continue to show superior trading returns.

Email 3:

Subject: Axios Pro Rata: Sacks squabbles

Summary: The newsletter covers David Sacks, a venture capitalist and President Trump’s advisor on AI and crypto. It emphasizes that Sacks promotes AI policies he believes will help the US lead globally, while those policies also benefit venture capitalists including himself. Criticism that Sacks is conflicted due to his investments is countered by explaining that it is nearly impossible to be active in venture capital without such ties. Sacks advocates light-touch regulation consistent with Silicon Valley ethos. Also covered is Goldman Sachs’ $2 billion acquisition of Innovator Capital Management, a leader in defined outcome ETFs that limit downside risk. The newsletter further details recent venture capital, private equity deals, mergers, acquisitions, and fundraising activities.

Email 4:

Subject: Money Stuff: OpenAI Will Own Some Users

Summary: The article discusses OpenAI’s evolving business model which includes holding stakes in companies like Thrive Holdings—a private equity roll-up acquiring service firms to transform them with AI. OpenAI may hedge its bets by not only selling AI technology but also owning users through such investments. It explores the concept that AI companies’ competitive edge may come from distribution channels rather than purely superior AI models. The letter also explains continuation funds in private equity, highlighting a risky example involving a portable toilet company where investors may face significant losses. Additionally, it covers miscellaneous topics like URL guessing to access early data leaks, the catastrophe bond market that can incentivize disaster mitigation, Goldman’s acquisition of ETFs specialist Innovator Capital Management, and a cybersecurity lawsuit involving recorded racial slurs at Campbell’s Soup.

Stay Well!