Nov 11, 2025 5 min read Daily Rundown

⛵ Buffett’s Last Letter

Plus: Meta’s $600B Dream, OpenAI Wants Credits

Good Morning, Early Adopters!

Warren Buffett ends his journey with a letter about grace and legacy — a lesson in how capital learns to die well.

FINALE

Buffett’s Last Letter: When Capital Learns to Die Well

👀 What’s the move: Warren Buffett’s final letter closes the longest-running case study in modern capitalism. After six decades of compounding wealth and reputation, he’s cashing out—not to consume, but to transfer. His $1.3B donation and quiet exit signal a rare kind of exit liquidity: moral succession.

💡 Why it’s not boring: This isn’t nostalgia; it’s the endgame of capital done right. Buffett shows that the true maturity of capitalism isn’t infinite growth, but graceful inheritance: when capital stops hoarding and starts teaching. In a world obsessed with AI scaling and billionaire legacies, Buffett models a different algorithm—wealth that decays into wisdom. The empire doesn’t crumble; it composts.

⛵ Key takeaway: Capital’s final act isn’t domination; it’s transmission. When money learns to die well, value finally lives on.

TOGETHER WITH TRAE

The Best AI Coding tool TRAE is going to officially release SOLO Mode on November 12th. TRAE SOLO is defined as "The Responsive Coding Agent" and completely FREE to use for everyone!

TRAE (The Real Al Engineer) is the most price-competitive coding agent. It provides two ways for you to build with AI. IDE mode preserves your existing workflow when you need to maintain hands-on control, while SOLO mode lets AI take the lead to drive the entire development processes.

SOLO Mode: SOLO is the only coding agent with a comprehensive GUI, bringing autonomous coding to an interactive visual workspace. You can simply delegate tasks and watch SOLO ship complete software solutions using the right context and tools.
IDE Mode: agentic coding assistant with comprehensive IDE features, real-time AI assistance, and smart code completions.

🧠 Why it matters: SOLO isn’t just another AI assistant — it’s the first Responsive Coding Agent, introducing a new development paradigm where agents build, debug, and deploy while you orchestrate the vision.

👉 Try TRAE SOLO free on November 12 and experience the future of agentic software engineering.

RAINCHECK

Meta’s $600B AI Infrastructure Plan Is a Patriot-Branded IOU

👀 What’s the move: Meta just announced a $600 billion “U.S. infrastructure and jobs” initiative — a number so vast it makes OpenAI’s Stargate look frugal. The only concrete piece so far is the Hyperion data center in Louisiana, financed through a sale-leaseback deal with Blue Owl Capital. Under that structure, Blue Owl owns 80% of the project and puts up most of the capital, while Meta retains 20% and rents the facility long-term. The rest, roughly $570–580 billion of the “plan,” exists only as talking points. No filings, no blueprints, no capex breakdown.

💡 Why it’s not boring: Meta isn’t building America’s AI backbone; it’s floating a financial mirage. The company’s annual capex hovers around $70 billion; to hit $600 billion by 2028, it would need to triple that every year. Instead, it’s outsourcing ownership, renting capacity, and calling it “investment.” This isn’t national renewal; it’s a cleverly packaged IOU wrapped in flag-colored branding.

⛵ Key takeaway: When your “infrastructure plan” belongs 80% to your lender and 100% to your imagination, it’s not innovation; it’s leverage with a PR department.

Altman Swears It’s About Taxes, Not Bailouts

👀 What’s the move: Sam Altman just doubled down on lobbying the U.S. government to expand the Chips Act tax credit — not for fabs, but for AI servers, datacenters, and grid hardware. In plain English: OpenAI wants the same manufacturing perks Intel and TSMC get, but for its trillion-dollar compute buildout. He insists it’s “super different than loan guarantees,” distancing himself from last week’s market-spooking bailout rumors.

💡 Why it’s not boring: This feels less like policy nuance and more like financial choreography. The line between “tax credit” and “government backstop” blurs fast when you’re planning $1.4 trillion in compute spend. By wrapping national competitiveness into tax language, Altman can court state support without the stigma of a bailout. It’s fiscal diplomacy disguised as industrial policy.

⛵ Key takeaway: He says “no guarantees,” but if you squint, the tax code is just the new bailout form.

STARTUP SPOT

🧠 Scribe
“AI that documents what you do.”
Captures on-screen workflows to auto-generate step-by-step guides, SOPs, and process maps—now using AI to flag where automation saves the most time.
→ Founded 2019 by Jennifer Smith and Aaron Podolny; hit $1.3B valuation with $75M Series C (2025); used by 5M+ users and 94% of the Fortune 500.

🚲 Rad Power Bikes
“E-bikes built for real life.”
Seattle-based e-bike maker known for rugged, affordable models like RadWagon and RadRunner, blending utility design with connected tech.
→ Founded 2007 by Mike Radenbaugh; raised $329M, once valued at $1.65B; now facing possible shutdown by Jan 2026 amid funding crunch—testing the limits of D2C hardware scale-ups.

🚗 Vay
“Driving autonomy the human way.”
Lets electric cars drive to customers remotely via trained tele-drivers, bridging the gap between ride-hailing and self-driving.
→ Founded 2018 by Thomas von der Ohe (ex-Zoox) with Fabrizio Scelsi and Bogdan Djukic; operates in Las Vegas; backed by Grab, Coatue, Atomico, Kinnevik with up to $410M funding to scale remote-driven mobility.

BAY AREA MEMOS

The DOJ approved Google’s $32 billion acquisition of Wiz, cementing its leadership in cloud-native security and marking Alphabet’s largest deal to date.
AI workflow company Scribe raises $75M at a $1.3B valuation to launch Scribe Optimize, a platform that shows where AI and automation actually pay off.
E-bike maker Rad Power faces a January 2026 shutdown without new funding, underscoring the broader collapse of the E-bike boom.
German remote driving startup Vay secures up to $410M from Grab to scale its U.S. operations and explore tech synergies in Southeast Asia.
Majestic Labs launches with $100M to build memory-dense AI servers offering up to 128TB RAM to boost large model training and inference efficiency.

TOGETHER WITH US

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