A model built for the world cannot be licensed by a city
A frontier model is trained once and served everywhere. City-by-city validation will not make it safer. It will make it unavailable, or make the rule a formality.
OCTOBER 11, 2026
TopicThe Divide
If Washington will not set the test, New York should
Under oath, four leading AI companies would not put a number on the worst case, and none said it was insured against one. A city of eight million is entitled to ask for proof.
OCTOBER 11, 2026
Let the newcomers in, and examine them
The community banks' lawsuit is framed as a defence of the charter. Its practical effect would be a federal regulator keeping new competitors out of payments.
OCTOBER 11, 2026
A bank charter should come with a bank's obligations
The trust charter was built for custodians. It should not become federal standing for payment companies without deposit insurance, capital rules or community duties.
OCTOBER 11, 2026
One national market beats a map of gaming boards
Sports contracts need rules. But many of the parties asking the Court for state control also profit from the licensed sportsbooks the exchanges compete with.
OCTOBER 11, 2026
A bet does not stop being a bet on an exchange
States built age limits, integrity rules and enforcement staff for sports wagering. Calling the wager a swap should not let a platform walk past all of it.
OCTOBER 11, 2026
Safety by private agreement is a cartel
When the four largest firms in a market agree on how good the product may get, the burden is on them to show why this is not the oldest trick in commerce.
SEPTEMBER 20, 2026
The race is not a law of nature
Competitors coordinating to go slower is exactly what antitrust forbids, and exactly what safety requires. The answer is to change the rule, not to sue the restraint.
SEPTEMBER 20, 2026
A company ballot is not a town hall
The federal proposal rule turned corporate meetings into a venue for campaigns that shareholders never asked to fund. Ownership questions belong in state law.
SEPTEMBER 20, 2026
The ballot is the only lever owners have
A shareholder proposal is the one mechanism by which the people who own a company can put a question to it without buying control. The SEC proposes to remove it.
SEPTEMBER 20, 2026
Somebody has to teach the twenty-three-year-old
Remote work is comfortable for people who already have a network and a reputation. It is a closed door for the person who has neither.
SEPTEMBER 14, 2026
The commute is the part nobody is paying for
A mandate does not create the hours it consumes. It moves them, from the worker's day to the company's, and sends no invoice.
SEPTEMBER 14, 2026
The ticket was always underpriced
For forty years the gap between face value and what people would pay went to brokers. Dynamic pricing is an argument about who collects it.
SEPTEMBER 14, 2026
Dynamic pricing puts a toll booth on affection
A price that rises with how much you want the thing is not a market discovering value. It is a meter attached to devotion.
SEPTEMBER 14, 2026
Savers can be trusted with the choice
The rule compels nobody to hold anything. It removes a litigation risk that was quietly deciding what ordinary savers were permitted to own.
SEPTEMBER 6, 2026
Retirement savings are not a testbed
A safe harbour that protects the fiduciary and not the saver is not prudence. It is paperwork with someone else's retirement attached.
SEPTEMBER 6, 2026
States are right to compete for the data center boom
Compute is the industrial base of the next economy, and the states winning it are doing what smart industrial policy has always done.
AUGUST 17, 2026
Stop writing blank checks to the richest companies on earth
Data center incentives hand public money and public water to trillion-dollar firms while ratepayers cover the grid bill. Communities deserve a better deal.
AUGUST 17, 2026
A wealth tax is a machine for capital destruction
Taxing unrealized paper values would punish the investment that builds companies, misfire on valuation, and raise far less than promised. Europe already ran this experiment.
AUGUST 16, 2026
Tax fortunes, not just paychecks
When the largest fortunes in history compound untouched while wages carry the tax code, a wealth tax isn't radical. It's overdue arithmetic.
AUGUST 16, 2026
Free college is a subsidy in search of a problem
Zero tuition taxes the plumber to underwrite the consultant, hides costs instead of cutting them, and crowds out the vocational paths the economy is starving for.
AUGUST 15, 2026
Public college should cost what public school costs: nothing
We decided a century ago that high school was public infrastructure. The economy moved; the promise didn't. Free public college finishes the thought.
AUGUST 15, 2026