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Social media team is knocking it out of the park today

Boomerang CEOs are... not that great, as it turns out. But boards sure do love them! From Liz Hoffman and me, with a fun graphic from Semafor's Rachyl Jones

A great lesson in "strategic" capital. Microsoft might make $150B from their investment in OpenAI but Azure is already probably worth ~$500B, making Azure better is worth a lot more than what they gain from OpenAI. Satya is playing this so well

The 1930s truly was the golden age of sportswriting

major hurdle for the Please Don't Spend $20 Million Against Me I Don't Want to End Up Like Sherrod Brown Act

TSMC, the Taiwanese chips giant of key strategic importance to the US, has big business before the White House. To navigate Washington, the $1 trillion company has sought advice from an unlikely place, Rohan Goswami reports.

BIG NEWS: Phillips 66 $PSX survives shareholder vote against Elliott: 2-2 split, sources tell Semafor. This despite ISS and GL both endorsing Elliott in its first ever US proxy vote. Prelim results released soon.

This is so grim

I like the FT’s level of clarity here:

Explicitly stating an implicit guarantee is a choice. Flashback to Yellen tying herself in knots to avoid stringing those words together back in 2023