Did J.D. Vance Just Make His 2028 Pitch?

Key takeaways

JD Vance's recent speech has increased speculation about his potential run for president in 2028.
California is actively regulating social media features and AI chatbots to protect children, in response to concerns about technology's harmful impacts.
Market observers are closely watching U.S. inflation data and Treasury yields ahead of the Federal Reserve's upcoming decision on interest rates.
Kalshi is expanding its offerings into perpetual futures, allowing around-the-clock leveraged trading on stocks, ETFs, and cryptocurrencies, which carries significant risks.
The Pentagon is investing heavily in AI cloud technology, signaling the military's focus on technological innovation for security purposes.
Adobe's AI products contribute to its growth to one billion active users, but market reactions reflect struggles with revenue growth, highlighting the challenges in the AI business landscape.
The 25th anniversary of 9/11 prompts a nuanced reflection on the ongoing impacts of the global war on terror, including successes, shortcomings, and lessons learned.

Summary

Political Movements and Potential 2028 Presidential Race

This section discusses JD Vance's recent speech at the GOP midterm convention, which has led to speculation about his potential presidential bid in 2028. The episode also touches on President Biden's vice president and how some Republicans are considering alternative candidates like Marco Rubio. The political landscape in the Republican Party remains dynamic, with Vance gaining momentum and others like Rubio keeping options open post diplomacy.

Regulation of Social Media and AI in California

Governor Gavin Newsom has signed multiple bills to regulate kids' social media usage and AI-driven chatbots to address concerns about addiction, privacy, and harmful content. These laws aim to limit features like autoplay and implement parental controls, especially targeting minors. This regulatory push follows Meta's legal settlement over its impact on teenagers, underscoring ongoing concerns about technology's influence on youth.

Market and Financial Developments: CPI and Futures Trading

The episode covers the upcoming U.S. consumer inflation report (CPI), which influences Federal Reserve policy decisions, especially regarding potential rate hikes. Market traders and analysts are closely watching Treasury yields. Additionally, the episode discusses Kalshi's expansion into perpetual futures, allowing 24/7 betting on stocks, ETFs, and cryptocurrencies, highlighting the risks and appeal of leveraged trading products.

U.S. Military Spending on AI and Tech Innovations

The Pentagon is considering a significant loan to AI cloud startup FluidStack as part of its effort to boost national security tech. This loan could be the largest from the Pentagon’s Office of Strategic Capital, emphasizing the military's focus on AI infrastructure and innovation, with an aim to maintain technological edge.

Corporate AI and Market Performance: Adobe’s Growth and Challenges

Adobe reports reaching one billion monthly active users thanks to its AI-powered products, but its stock has declined over 35% year-to-date due to a slowdown in new revenue. The company aims to compete in the rapidly growing AI market by expanding its offerings and user base, although it faces challenges in market sentiment and revenue growth.

25 Years After 9/11: The Global War on Terror Revisited

The episode features a retrospective discussion with national security experts Michael Gordon and David Cloud on the consequences of 9/11, the wars in Afghanistan and Iraq, and their long-term impacts. They analyze the successes and failures, such as the containment of al-Qaeda and the challenges of stabilizing post-war environments. The hosts consider whether U.S. strategies have led to blowback and the opportunity costs of military spending, emphasizing the complex legacy of the global war on terror.

Show notes

A.M. Edition for Sept. 11. The vice president is increasingly looking like a presidential candidate, but some Republicans want Marco Rubio. We wrap up the GOP’s midterm convention with a look at Vance’s prime-time speech. Plus, investors hold their breath before today’s pivotal U.S. inflation report. And we’ll look back on 25 years of the global war on terror with WSJ national security correspondents Michael R. Gordon and David S. Cloud. Luke Vargas hosts.

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