‘I’m a Piece of Sh--’ Jensen Last Hours, Dutch Millionaires Tax, German Dentists €1B Bill

Nov 13, 2026 · Summarized Nov 13, 2026

Listen in Apple Podcasts Pocket Casts Castro

Key takeaways

Nvidia’s board must replace a founder whose personal relationships and alleged conduct have created a leadership vacuum, while export-control and chip-smuggling investigations add pressure before the next earnings call.
Anthropic’s heavily oversubscribed IPO could be historic in size, but Bloomberg warned that its first trading day may be unusually volatile and could affect the wider market.
European governments are pursuing tougher Russia sanctions and trying to include Europe more directly in Ukraine negotiations, while Russia’s economy slows under war-related strain.
The Dutch wealth-tax bill could shift taxation toward assets but may also collapse the governing coalition because a coalition partner opposes it.
The Berlin dentists’ pension scandal illustrates how a compulsory retirement fund’s move into direct investments and loans left contributors facing potentially severe losses.

Summary

Nvidia loses Jensen Huang as investigations widen

Nvidia’s board gave no specific reason for Jensen Huang’s resignation and did not quote him; CFO Colette Kress became interim CEO while directors began a broad internal and external search. US prosecutors are examining Alice Huang, the woman suspected of spying for China and reported to have had an affair with Huang, including whether linked entities helped smuggle Nvidia technology. Congress is also questioning Commerce Secretary Howard Lutnick over export-control failures. Bloomberg reported that Huang appeared “broken and shattered” in his final days, calling himself “a piece of SH--” and repeatedly saying, “whatever” and “I don’t care.”

Anthropic IPO draws six times the available orders

Anthropic’s IPO has reportedly attracted about six times as many orders as shares available. The offering and a private placement could raise as much as $64.4 billion and $26 billion respectively, potentially making it larger than SpaceX’s listing and the biggest listing ever. Bloomberg’s Mark Cranfield warned that the first trading day could be extremely volatile: a flat close would be the best investors might reasonably hope for, while poor market conditions could allow Anthropic to drag down the broader market.

Chinese AI model blamed for French refrigerator hacks

US Treasury Secretary Scott Bessent said a Chinese AI model was used in cyberattacks that disabled refrigerators at roughly 700 French supermarkets and affected public blood banks. He argued the technology lacked adequate safety measures. France’s foreign minister had instead blamed Iran’s Islamic Revolutionary Guard, while supermarkets in Belgium, Ireland, Sweden, Finland, and Estonia also reported attacks on cooling systems.

Zelensky says Europeans will join the next Russia talks

Ukrainian President Volodymyr Zelensky said his meeting with US envoys Steve Witkoff and Jared Kushner in Dublin produced progress, including a prisoner exchange and agreement to include Europeans in the next peace-talk meeting. He said Europe would have a voice because “the war is in Europe.” The meeting followed the envoys’ talks with Vladimir Putin in Moscow, but Russia and Ukraine remain divided over territory and security guarantees.

EU prepares more than 100 new Russia sanctions

The European Union is expected to approve over 100 additional sanctions targeting Russian banks, energy companies, and oil tankers, following alleged Russian-linked hybrid attacks including cyberattacks and arson. Bloomberg also reported that Russian subsidiaries of foreign companies seized by the Kremlin are spending billions of rubles to support the war. Despite that spending, third-quarter growth is estimated at only 0.9%; Ukrainian strikes are damaging industrial capacity and limiting the central bank’s ability to cut rates.

Britain seeks a less disruptive post-Brexit arrangement

UK Prime Minister Andy Burnham said late-night negotiations with the EU could produce the kind of Brexit many voters thought they were choosing in 2016, rather than the harder version delivered in 2019. Britain wants to remove paperwork affecting plant and animal products crossing the border. The EU is pressing for easier movement of students between the UK and continental Europe.

Dutch wealth tax threatens the governing coalition

The Netherlands’ centre-left coalition narrowly passed legislation shifting taxation from income toward wealth-related measures, but the Conservative People’s Party threatened to leave the coalition if the bill became law. That could bring down the government. The most controversial provision would tax annual returns on assets above €60,000 at 38.5%, among the highest rates in the euro area, while the bill also targets inheritance-tax avoidance.

Markets turn cautious as tech stocks and Bitcoin fall

The market tone was described as cautious and range-bound. Asia’s earlier technology-led gains faded, with the Hang Seng Tech Index down 3%; US sovereign yields remained above 5% ahead of producer-price data, and Federal Reserve Governor Williams said inflation was still too high. Bitcoin fell below $69,000 for the first time since August, while Brent crude rose 0.3% to $96.14 after gaining 3.3% the previous day.

Berlin dentists face a pension shortfall after risky investments

Berlin’s VZB pension fund expected to hold €2.2 billion in 2023 but now reportedly has only about €850 million after abandoning conservative investing for direct company stakes and loans. A retired dentist investigating a disputed €10,000 payment recruited a finance expert; within four to six weeks they identified numerous failed deals and initially estimated €500 million missing. Dentists must contribute about €1,600 monthly, and fund insiders estimate a 40-year-old dentist could lose 70% of accumulated savings. The former fund chief, who owns a Ferrari and substantial property, denies wrongdoing; the fund has sued him and others.

Show notes

Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) While Nvidia’s board hunts for someone to permanently replace founder and chief executive officer Jensen Huang, it’s counting on Colette Kress — the company’s chief financial officer of 13 years and a longtime technology executive — to steady the ship.

(2) At the end, Jensen Huang looked broken and shattered, his legendary energy depleted. After weeks spent denying the allegations of infidelity and fighting to remain in his job as Nvidia Corp.’s chief executive officer, his surrender late Wednesday night was unconditional.

(3) Anthropic’s initial public offering has drawn about six times the orders for the shares available, according to people familiar with the matter, as interest increases for potentially the biggest first-time share sale ever.

(4) A Chinese artificial intelligence model was used in recent hacks that disabled refrigerators in French supermarkets, US Treasury Secretary Scott Bessent said on Thursday.

(5) Ukrainian President Volodymyr Zelenskyy said progress had been made during a meeting with US envoys in Ireland, hailing a prisoner swap deal and a decision to include Europeans in the next round of peace talks with Russia.

(6) The European Union is set to approve over a hundred new sanctions on Russia targeting banks, energy firms and tankers illegally moving Russia’s oil, according to people familiar with the matter.

(7) The lower house of the Dutch parliament passed a left-leaning bill that would increase the tax burden on the wealthy, and risks toppling Prime Minister Rob Jetten’s coalition.

(8) Thousands of Berlin’s dentists trusted a pension fund. The story of its €1.2 billion downfall includes risky investments, a Ferrari and a luxury yacht.

Podcast Conversation: How Much Is That Leather Jacket Worth Now?

See omnystudio.com/listener for privacy information.

Follow this show on AudioBrevity and new episodes get summarized for you. Create a free account