Why It’s So Hard to Buy One of the Country’s Top-Selling Cars Right Now
· Summarized
Key takeaways
- Meta faces a $25 billion liability in New Mexico for data privacy and misinformation issues but remains financially robust with record revenue.
- A critical vulnerability in PHP, discovered with the help of AI, has exposed up to 70% of the world's websites to cyber risks, highlighting both AI's benefits and dangers in cybersecurity.
- Toyota's supply chain delays for the 2026 RAV4 hybrid threaten its top-selling status due to factory overhaul delays and high demand for the outgoing model.
- U.S. markets responded positively to SpaceX’s revenue forecast and potential Tesla merger, amid ongoing political and geopolitical tensions.
- The Supreme Court upheld the continuation of hormone treatments for transgender prisoners, signaling a legal stance on gender-related healthcare rights.
- Musk’s decision to cap Starlink speeds in Ukraine has strained relations with Kyiv and raised questions in Congress about his influence over military technology.
- Bipartisan lawmakers are demanding Musk testify under oath, worried about his unilateral power over critical military-aid technology affecting Ukraine’s defense.
Summary
Meta Faces Large Legal Verdict and Continues to Seek Capital
The episode opens with a report on Meta, which was ordered by a New Mexico judge to pay $25 billion after a jury found the social media giant liable for deceiving users about data privacy, hate speech, misinformation, and mishandling Cambridge Analytica data. Meta's legal officer expressed confidence in overturning this verdict on appeal. Despite the legal ruling, Meta announced record third-quarter revenue of over $64 billion, surpassing analyst expectations. The company also plans to raise capital by creating a new class of non-voting stock, set to take effect in January, to fund its AI development efforts, with a planned expenditure of up to $145 billion this year.
Critical Security Flaw in PHP and the Role of AI in Cybersecurity Risks
The episode highlights an exclusive report on a critical security vulnerability in PHP, a software that powers up to 70% of websites worldwide. This bug could allow hackers to seize control of affected systems, risking data theft and cyber attacks. As experts rush to patch the vulnerability, many websites are being taken offline preemptively, partly due to AI tools aiding security researchers in discovering this severe bug. One researcher described this as the most dangerous AI-discovered vulnerability so far, illustrating how AI can both aid security efforts and also pose potential threats by enabling hackers to exploit weaknesses before they are fixed.
Toyota's Supply Chain Issues Threaten RAV4's Dominance
The report examines Toyota’s flagship SUV, the RAV4, which is the best-selling vehicle in the U.S. and the top-selling SUV overall. The new 2026 model, however, faces supply shortages because Toyota delayed the factory overhaul needed to produce the new hybrid-only version, sticking with the previous generation to meet ongoing demand for the outgoing 2025 model. This results in limited availability and high demand for the older model, with sales down 30% this year due to supply constraints. The supply issues threaten Toyota’s position as it aims to surpass General Motors in U.S. sales, with competitors like Honda’s CR-V benefiting from RAV4’s scarcity.
Market Movements and Political Developments
U.S. stock markets rose after SpaceX exceeded revenue forecasts and hinted at a potential merger with Tesla, with Tesla’s shares up over 3% and SpaceX’s nearly 8%. The NASDAQ index gained over 1%, while bond markets showed mixed signals—US Treasury yields remained steady, but French yields hit a 24-year high amid political turmoil. In Washington, the Supreme Court ruled in favor of maintaining hormone treatments for transgender prisoners, and amid the upcoming midterm elections, Trump’s super PAC raised around $25 million and spent over $237 million on key races. Political storylines also included Elon Musk’s contentious decision to cap Starlink speeds for Ukraine’s military, which is strain ing the relationship between the U.S. and Ukraine. Bipartisan lawmakers called for Musk’s testimony, with some expressing concern over his unilateral power to affect international defense efforts, while Musk posted dismissive comments about mainstream media on social media.
Starlink Controversy and Ukraine’s Defensive Capabilities
A major segment discusses Elon Musk’s decision to implement a speed cap on the military version of Starlink, supplied by SpaceX to Ukraine. The restriction limits drone speeds to over 100 miles per hour, impairing Ukraine’s ability to conduct high-speed drone strikes against Russian targets and defend against missile attacks. Ukrainian officials are displeased, accusing Musk of meddling and suggesting that Russia propaganda influenced his decision. Though Ukraine is not publicly criticizing Musk, behind the scenes negotiations are ongoing, with the Ukrainian government seeking to restore full functionality. Meanwhile, Musk’s political influence and the strategic dependency of Ukraine on Starlink’s technology are raising concerns in Congress, with some lawmakers calling for investigations and hearings to scrutinize Musk’s control over crucial military technology.
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Show notes
P.M. Edition for Oct. 21. Toyota’s RAV4 had long been the most popular SUV in the U.S. But now, as autos reporter Chris Otts discusses, production decisions from the Japanese carmaker undermined that leader status. Plus, Journal Ukraine bureau chief Marcus Walker fills us in on what’s happening on the battlefield. And security researchers, with the help of AI, discovered a vulnerability that puts up to 70% of the world’s websites at risk. Alex Ossola hosts.
Correction: The Honda CR-V has become America's best-selling vehicle that isn’t a pickup truck, and the country’s most popular SUV, in 2026. An earlier version of this podcast incorrectly said that the Toyota RAV4 still holds that status, but it lost it this year. (Corrected on Oct. 22)
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