Business / Fortune ·
Grok Bot is growing fast—but Elon Musk says its costs are ‘unsustainably high’ compared to revenue
SpaceX's AI bot has reached 800,000 paid weekly users, but Musk admits the cost of serving them is high relative to revenue.
Business
VCs, funding, deals, markets and the economy behind tech.
Business / Fortune ·
AI is on the ballot. Data centers are a major political issue in the midterms. But the implications of today’s vote for AI go much further
A Democratic-controlled Congress could mean more regulation and more scrutiny for AI companies, while experts are also watching to see if AI plays a role in election misinformation.
Business / Fortune ·
What’s at stake as Nebraska voters decide whether to legalize online sports betting in the midterms
Sports betting in Nebraska can support its property tax fund—or leave Nebraskans with empty wallets.
Business / Fortune ·
A Democratic Congress could curb the Iran war but not Trump’s tariffs, former ambassador says
The former U.S. ambassador to Vietnam, speaking in Ho Chi Minh City on election day, says tariff power "rests with the executive."
Business / Fortune ·
Montana voters take on Citizens United with a ballot initiative to strip corporations and nonprofits of their political spending power
Supporters say states can redefine corporate powers without violating the First Amendment, while critics say the Supreme Court won't buy it
Business / Fortune ·
Hobby Lobby’s founder called wealth ‘a curse.’ His family spent millions chasing biblical artifacts
In The Gospel According to Hobby Lobby, Michael Blanding traces how the Green family has steered craft-store profits into courts, classrooms and a $500 million museum.
Business / Fortune ·
Millionaire Walmart chair Greg Penner adds soccer club Valencia CF to his investments—he already owns NFL’s Denver Broncos and part of a baseball team
Chairman Greg Penner and his wife Carrie, the granddaughter of Walmart founder Sam Walton, also have stakes in American football and baseball teams.
Business / Fortune ·
Minecraft billionaire who beat Beyoncé and Jay-Z to a Beverly Hills mansion is selling—just as California votes on a billionaire tax
Persson’s agent says he rarely spends time in Los Angeles anymore. The listing lands just as Californians decide on a wealth tax that has already pushed Larry Page, Sergey Brin, and Travis Kalanick out of the state.
Business / Fortune ·
Inside the public bank initiatives on the ballot in Berkeley and San Francisco
Two Bay Area cities vote Tuesday on measures that could lead to new government-owned banks.
Business / Fortune ·
Jeff Bezos used one simple question to decide whether to quit Wall Street and start Amazon: What will I regret when I’m 80?
Now worth $357 billion, Jeff Bezos once created a “regret minimization framework” to decide whether to quit his cushy hedge fund job to create Amazon.
Business / Fortune ·
North Korea used LinkedIn, fake job interviews to trick Binance engineer in $6.3 billion hack
The hackers posed as recruiters, convincing a Binance employee to download a fake "assignment" as part of a broader and sophisticated campaign.
Business / Fortune ·
Despite the tensions of war, ex-Barclays CEO Bob Diamond is long Gulf. Here’s why
The former CEO of Barclays is in Bahrain to announce that the U.K.-based advisory firm, Panmure Liberum, is opening its first regional office in the kingdom
Business / Fortune ·
McKinsey Global Institute: Climate adaptation could need $1.2 trillion a year by 2050. $690 billion of it is stuck
Adaptation pays three to one. Why isn’t it funded?
Business / Fortune ·
AI agents are deciding who captures the value. Shoppers, workers and voters should have a say
Agentic AI reopens who gets what from an exchange.
Business / Fortune ·
Who pays for AI’s $2.6 trillion build-out? Look to corporate budgets
BCG estimates companies would cover $1.8 trillion a year by 2030.
Business / Crunchbase News ·
China’s Largest Startup Deal Ever Lifts Global Venture Funding To $59B In October
Global venture funding in October totaled $59 billion, a 45% jump from a year earlier, per Crunchbase data, in large part due to a record-setting $15.9 billion funding round for China’s DeepSeek.
Business / Fortune ·
Current price of oil as of November 3, 2026
When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.
Business / Fortune ·
Wall Street is bracing for a fresh wave of tariffs, Iran action (and potentially a government shutdown) after the midterms
"Does the Republican Party divide over MAGA-related issues, and does President Trump escalate hostilities in the Gulf War with wider economic consequences at home and abroad?"
Business / Fortune ·
We have the most powerful technology in history, and we’re using it to stop hiring young people
Point AI at the grid, water and health costs instead.
Business / Fortune ·
Anthropic’s third quarter results mean IPO math and history are not on its side, analysts say
A lot has to go right for investors to earn an above-market return even if Anthropic prices well below the $1.5 trillion to $2 trillion it is seeking
Business / Fortune ·
China and Russia have hypersonic missiles. This $13 billion startup wants the U.S. to catch up
In 2022, Bryon Hargis, Andrew Kreitz, and Sean Pitt—all previously SpaceX executives—cofounded Castelion to help close America’s hypersonics gap. The company’s now valued at $13 billion.
Business / Fortune ·
What Apple CEO John Ternus isn’t talking about: “The biggest risk to the Apple ecosystem”
Everything you need to know before you reach the office this morning.
Business / Fortune ·
HPE’s CEO says his company has ‘zero exposure’ to AI’s financing web
Also: All the news and watercooler chat from Fortune.
Business / Fortune ·
Transamerica Institute’s CEO warns of a retirement ‘perfect storm’ as even affluent Americans fall short of the $2.6 million goal
Uncertainty about the future of Social Security, persistent inflation, competing financial priorities, and the threat of job disruptions are all making it harder for Americans to save for retirement.