Hello Capitalists,

Here is everything you should be following today:

• Target misses the mark with another woke self own

• Trump ‘s privately funded Ballroom begins construction

• Wall Street suddenly realizes theres a private credit bubble

• Cracker Barrel CEO finally tries to explain woke rebrand disaster

• Meta dumps billions in to a new data center while firing workers

Today’s markets + assets:

• 🔴 DOW: 46669.09 (⬇️ 0.54%)

• 🔴 S&P: 6688.36 (⬇️ 0.70%)

• 🔴 NASDAQ: 22660.98 (⬇️ 1.28%)

• ⚠️🔴CBOE VIX Volatility Index: 17.89 (⬇️ 1.87%)

• 🔴 Gold: $4,079.3 (⬇️ 0.74%)

• ✅ Silver: $48.03 (⬆️ 0.74%)

• 🔴 Bitcoin: $108160 (⬇️ .12%)

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Fall Fashion with a side of Communism

Retail giant Target has sparked outrage after slipping Karl Marx’s anti-capitalist manifesto “Capital” into Instagram ads for women’s fall scarves and boots, targeting urban female shoppers amid the chain’s desperate bid to ditch its “woke” image following a crippling 2023 boycott.

• Ad Carousel Shock: Instagram feeds unexpectedly featured Marx’s “Capital” paperback amid women’s items like gray scarves, faux-leather skirts, and gold-buckled boots, puzzling a non-shopper viewer.

• Irony of Promotion: The anti-capitalist text, likening bosses to vampires and urging revolution, is being sold by the retailer via personalized Roundel ads using user demographics.

• Boycott Backlash Echoes: Target’s 2023 Pride collection caused uproar with its LGBTQ+ gear and “tuck-friendly” swimsuits targeted at children.

• Ongoing Retail Woes: Nine stores shuttered in 2023 over theft issues in blue cities; shares plunged 7% this summer after naming insider CEO, heightening culture war risks.

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Construction begins on Trump’s privately-funded White House Ballroom

President Donald Trump launched a $250 million privately funded White House ballroom renovation Monday, demolishing East Wing space to host grand events easing centuries-old limitations without a dime from taxpayers.

• YouTube Settlement Fuels Project: Google’s $24.5 million payout from a legal battle with Trump allocates $22 million directly to the ballroom, marking a major tech infusion amid ongoing antitrust scrutiny.

• Corporate Giants Pledge Millions: Lockheed Martin has committed over $10 million, Blackstone’s CEO Stephen A. Schwarzman is also expected to be contributions, and firms like Microsoft, Amazon, and Coinbase are also thought to be on the list of donors.

• Exclusive Donor Dinner Hosted: Last week, Trump feted representatives from Alphabet, Booz Allen Hamilton, and others at the White House, blending philanthropy with potential naming rights for “The Donald J. Trump Ballroom.”

• Historical Preservation Assured: Chief architect James McCrery and builder Clark Construction vow to safeguard the site’s legacy, extending the East Room into a 90,000-square-foot venue for future presidents’ use.

Wall Street is starting to wake up to the massive private credit bubble they created

U.S. banks have ballooned loans to private credit firms to nearly $300 billion—10.4% of their total lending—prompting Moody’s on Oct. 22 to warn of surging risks for smaller lenders amid weakening underwriting standards and recent regional bank fraud scandals.

Loans Triple in Decade: Bank exposure to non-depository financial institutions hit 10.4% of total loans, up from 3.6% a decade ago, driven by aggressive post-2016 expansion outpacing all other lending.

Private Equity Ties Deepen: An additional $285 billion in loans to private equity funds as of June 2025, plus $340 billion in “unutilized commitments,” amplifying banks’ overall vulnerability to this sector.

Smaller Banks in Crosshairs: Moody’s flags heightened dangers for regional lenders if credit checks loosen, potentially straining the broader financial system amid volatile private credit dynamics.

Fraud Flags Dismissed Broadly: Recent woes at Zions Bancorp and others have been deemed isolated by analysts, with top executives downplaying systemic threats in private lending despite investor jitters.

Cracker Barrel CEO FINALLY breaks cover to discuss her woke rebrand disaster

Cracker Barrel’s CEO Julie Masino defended the abrupt reversal of a controversial logo overhaul Tuesday, admitting poor communication alienated loyal customers amid a stock plunge and President Donald Trump’s scathing Truth Social rebuke of the chain’s heritage betrayal.

• Backlash Ignites Swift Reversal: Intense customer outrage over ditching the iconic “Uncle Herschel” illustration forced the company to scrap the modern redesign just one week after its mid-August 2025 debut.

• Billboard Visibility Sparks Change: Masino explained the update was aimed solely at enhancing highway signage legibility, insisting it was never ideologically driven but part of long-term transformation efforts.

• Activist Investor Targets Leadership: Sardar Biglari, holding 2.9% stake, launched a fresh proxy battle last month, blasting executives for eroding shareholder value and betraying the brand’s rustic roots.

• Heritage Elements Persist: Despite the U-turn, Uncle Herschel endures on menus, road signs, and country store displays, underscoring Cracker Barrel’s commitment to its “family” traditions amid ongoing remodels.

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Meta dumps billions into planned data center while firing employees

In a bold move to fuel its AI ambitions, Meta Platforms has teamed up with Blue Owl Capital on a $27 billion joint venture to build the massive Hyperion data center in rural Louisiana, announced Monday, providing crucial speed and flexibility amid fierce competition with rivals like OpenAI.

• Joint Venture Structure: Meta retains 20% stake in the Hyperion project, overseeing construction and management, while Blue Owl owns 80% and injects $7 billion cash infusion.

• Financial Windfall Details: The deal delivers Meta a $3 billion one-time payout, easing capital strain from escalating AI investments against Alphabet and OpenAI.

• Scale and Location: Spanning 1,700 football fields in Richland Parish, Louisiana, the facility demands double New Orleans’ peak electricity requirements, underscoring rural site’s power demands.

• Timeline and Rivals: Construction is targeting a 2030 completion date and mirrors OpenAI’s $500B Stargate facility in Texas and Google’s $15B India hub in the global AI arms race.

In a fresh round of cost-slashing, Meta Platforms is eliminating about 600 positions within its AI research division, the latest move in the tech giant’s ongoing efforts to streamline operations amid fierce competition in artificial intelligence.

• Targeting Fundamental AI Team: The cuts specifically hit Meta’s Fundamental AI Research (FAIR) unit, focusing on long-term AI innovations rather than immediate product development.

• Efficiency as Core Driver: Executives cited the need to boost operational efficiency and eliminate redundancies, building on a company-wide restructuring initiated earlier this year.

• Prior Layoff Momentum: This follows Meta’s May elimination of 5,000 roles across various business units, signaling continued workforce optimization in a post-pandemic hiring surge reversal.

• Investment Shift Ahead: Despite reductions, Meta plans to ramp up AI hiring in product-focused areas, aiming to accelerate deployment of generative AI tools like it’s Llama models.

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