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Anthropic executives are meeting with investors this week, ahead of next week’s expected IPO. Here’s one thing investors should ask: How concerned should they be about the Long-Term Benefit Trust, a secretive group that has the power to appoint and remove a majority of Anthropic’s board? Their job is to ensure the company is run in a way that balances the financial interests of shareholders with Anthropic’s mission to develop advanced AI “for the long-term benefit of humanity.” What a balancing act! And who controls the trust? It turns out that the trustees—who include a former Fed chair, a health policy wonk, and a physics professor at Harvard University—pick future trustees. (There’s a vacancy for a fifth trustee, by the way, and it pays $400,000 a year!) In other words, it’s a closed club, which seems to give those four an extraordinary amount of power. But things are not exactly what they seem. A big restriction on the trust’s power essentially defangs it. The trust appoints and can in theory remove four of Anthropic’s seven directors. In reality, it can only remove three of those four unilaterally. A committee of Anthropic’s board, which includes Anthropic co-founder Daniela Amodei, has to approve the trust’s removal of the fourth board member. If the board committee opposes the director’s removal, Anthropic’s employees get involved and have to approve it. As Amodei and other company co-founders essentially pick three of the seven board members, the co-founders could counter any effort by the trust to replace a majority of the board. The board committee also has a role if the trustees want to remove one of their members. Anthropic says in its filing that “these procedural requirements are intended to promote collaboration between the Trustees and our leadership in identifying and sourcing candidates” for the board and the trust. The rules “do not give our board of directors the substantive ability to limit the LTBT’s freedom to elect directors of its choosing.” It’s hard to take that statement seriously, given that it’s precisely what the requirements do. The point is that it’s the founders rather than the LTBT who control the company. For investors, that’s probably good news, given how aggressively Anthropic competes and given its success in overtaking OpenAI. Of course, as AI models become more sophisticated and more powerful, a clash over its risks to society seems likely. Don’t be surprised if one day a huge fight breaks out between the trust and the board reminiscent of OpenAI’s 2023 brawl over the short-lived removal of CEO Sam Altman. When that happens, expect the founders to prevail.

“A Tesla Flying Car? I Don’t Know, Man” #Auto Future https://www.wired.com/story/tesla-flying-car-faa/?utm_medium=social&utm_source=bluesky&utm_campaign=aud-dev&utm_content=437a6fdfc0a80b328ee6b6faa7a37d30

Has any other penis caused this much capital destruction before?? https://www.forbes.com/sites/siladityaray/2026/11/12/nvidia-shares-plunge-as-board-reportedly-prepares-to-oust-ceo-jensen-huang/

Waymo confirms it will split (https://techcrunch.com/2026/11/04/waymo-confirms-its-shaking-up-its-uber-relationship-in-january-2028/ ) with Uber in January 2028. #Auto Future

Spot on. Once you see it handle unmarked construction zones and unexpected detours in real-time, it's really hard to go back to basic lane-keep assist. #Auto Future https://medium.com/@joe_62117/buying-a-car-without-fsd-is-buying-a-flip-phone-4f83db16d6f0

In Apple’s first earnings under new chief executive John Ternus, the company reported sales growth slowed in its fiscal fourth quarter. Total revenue for the September quarter was $114.5 billion, up from 12% from the previous year, its slowest sales growth for the year. The iPhone business remained strong, advancing 17% to $57.6 billion. The iPad and wearables segments declined 10% and 8%, respectively. The services business continued to stagnate, growing slightly less than 10% to $32 billion in September sales. That was the slowest quarterly growth for services—which includes iCloud subscriptions, App Store and Apple TV, among others—in more than three years. Apple said it projects services growth of between 8% and 9% for the current quarter that ends in December. Apple said it expects total sales to grow between 7% and 10% for the current first quarter, showing a continued cooldown. Apple was trading down nearly 3% in after-hours trading. https://www.theinformation.com/briefings/apple-sales-cool?rc=gzsl71

Fireworks, a startup that helps developers run and train open-source models, in the last week has told some of its large customers including Harvey of a recent, more serious hack to its systems, according to two people with knowledge of the breach. The hack exposed data from some Fireworks customers, the company said Monday. Now some of Fireworks’ customers, who spend millions of dollars on its services per year, are considering switching to other providers, one of the people said. The incident highlights the increased security risks companies face, as AI-powered breaches become more common. https://www.theinformation.com/articles/new-fireworks-hack-threatens-1-billion-business?utm_campaign=%5BREBRAND%5D+RTSU+-+Aut&utm_content=1109&utm_medium=email&utm_source=cio&utm_term=129&rc=gzsl71