🌊 Sam Altman's Infinite Money Glitch

I guess it’s We The 72 now? 😔

As you may know, the name of our deep-dive newsletter is We The 66 after the 66% of Americans who don’t trust the news. Well, thanks to a new Gallup survey, it seems we may have to rename it “We The 72.” Indeed, trust in the news media just fell to a new low, with just 28% expressing a “great deal” or “fair amount” of trust in it. Five years ago, for context, that number was 40%.

For more context, roughly 20% of Americans say they’ve seen a ghost. So for all the self-congratulatory journalists in legacy media reading this, more Americans say they’ve encountered the paranormal than reliable reporting. Not great, Bob!

–Max and Max

KEY STORY

Paramount Buys The Free Press

Paramount announced Monday it acquired The Free Press, the digital media startup founded by Bari Weiss, and appointed Weiss as editor-in-chief of CBS News

• CBS News has struggled with executive turnover in recent years, cycling through five presidents in five years, and has consistently placed third behind ABC and NBC in viewership ratings

• On Monday, Paramount revealed it acquired The Free Press for approximately $150M in cash and stock, placing Weiss in charge of editorial decisions at CBS News

• Paramount CEO David Ellison said the combination would create “one of the most trusted destinations for news in this country,” targeting the 70% of Americans who identify as center-left to center-right

Dig Deeper

• The Free Press, which has grown to 1.5M readers, including over 170,000 paying subscribers, will continue operating independently within Paramount

• The appointment comes after significant upheaval at CBS News, including Paramount's $16M settlement with President Trump over a “60 Minutes” interview and the recent departures of two top executives

• Some CBS News employees view the move as taking the network in a more conservative or opinionated direction, while others see it as necessary innovation for a struggling broadcast news division

KEY STORY

OpenAI Inks Another Massive Deal

OpenAI announced Monday that it signed a multi-billion-dollar agreement with chipmaker AMD to power its artificial intelligence infrastructure

• Two weeks ago, OpenAI announced a $100B partnership with Nvidia, the dominant supplier of AI chips. AMD has positioned itself as an alternative to Nvidia, whose chips have powered most AI development but remain expensive and in short supply

• On Monday, OpenAI committed to purchasing AMD chips with a total power consumption of 6 gigawatts over several years, starting with AMD’s MI450 chip in the second half of 2026

• AMD granted OpenAI warrants to purchase up to 160M shares at one cent per share, potentially giving OpenAI a 10% stake in the chipmaker

Dig Deeper 

• OpenAI executives estimated that 1 gigawatt of capacity costs about $50B to build, with roughly two-thirds spent on chips and supporting infrastructure

• The company previously announced plans with Oracle and SoftBank to spend more than $400B on US data centers, and it committed to purchasing $300B in computing power from Oracle over five years

• AMD shares surged more than 33% in pre-market trading on Monday following the announcement

KEY STORY

VA Candidate’s Violent Texts Leaked

Virginia Democratic AG candidate Jay Jones faced bipartisan condemnation after text messages surfaced of him suggesting a Republican lawmaker be shot

• In August 2022, Jones texted Republican House Delegate Carrie Coyner about then-House Speaker Todd Gilbert, writing, “Three people, two bullets. Gilbert, Hitler and Pol Pot,” before adding, “Gilbert gets two bullets to the head”

• Jones apologized the day the messages became public, stating the texts made him “sick to my stomach” and that he was “embarrassed, ashamed, and sorry,” while also accusing his Republican opponent of planting the story through pro-Trump media organizations

• President Trump, VP JD Vance, and House Speaker Mike Johnson (R-LA) all called for Jones to exit the race

Dig Deeper

• A Democratic gubernatorial candidate condemned the messages, saying she spoke with Jones about her “disgust” and made clear he must take full responsibility. A Republican gubernatorial candidate called the texts “wholly disqualifying” and called for Jones to drop out

• The controversy emerged as Virginia's attorney general race entered its final weeks, with early voting underway and more than 280,000 residents having cast ballots as of October 1

QUOTE OF THE DAY

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KEY STORY

Israel, Hamas Begin Indirect Talks

Israeli and Hamas delegations began indirect negotiations in Egypt on Monday over a US-backed peace plan aimed at ending the two-year war in Gaza

• President Trump unveiled a 20-point peace plan last week after meeting with Arab and Islamic leaders at the UN and with Israeli PM Netanyahu at the White House. Both Israel and Hamas endorsed the overall principles of the plan, marking the closest the two sides have come to ending the fighting since the war began

• Egyptian and Qatari mediators held shuttle meetings with separate Israeli and Hamas delegations in the Egyptian city of Sharm el-Sheikh, as the two sides did not meet face-to-face

• Trump posted on social media that he wanted the first phase completed within the week and urged all parties to "move fast"

Dig Deeper

• Major obstacles remained despite both sides endorsing the plan’s general principles. Hamas sought guarantees that Israel would fully withdraw from Gaza after hostages were released, fearing Israeli forces would remain once the group lost its leverage

• The plan’s 72-hour timeline for releasing all hostages appeared logistically difficult, particularly for recovering the bodies of deceased hostages from various locations across Gaza

• Multiple Palestinians in Gaza urged Hamas to accept the deal despite its perceived shortcomings. One displaced mother living in a tent camp told The Wall Street Journal she was upset the plan lacked a timeline for Israeli withdrawal, but hoped Hamas would accept it “so the bloodshed stops”

RUNDOWN
Some Quick Stories for the Office

⚖️ The Supreme Court declined to hear Ghislaine Maxwell's appeal of her criminal conviction, effectively ending her legal challenges to her 20-year prison sentence.

💂 Illinois officials sued Monday to block President Trump from deploying National Guard forces to Chicago, escalating a nationwide confrontation between the administration and Democratic-led states.

🏈 Former NFL quarterback and Fox Sports analyst Mark Sanchez faces felony battery charges following a violent altercation outside an Indianapolis hotel early Saturday morning. The incident left Sanchez hospitalized with stab wounds and a 69-year-old truck driver with severe facial injuries.

🔥 A fire at the beachfront home of South Carolina circuit court judge Diane Goodstein is under investigation by state law enforcement. The Saturday blaze sent three family members to the hospital, including her husband, a former state senator, though Goodstein was walking her dogs at the time.

🇫🇷 France’s fifth prime minister in under two years, Sébastien Lecornu, resigned after only 26 days in office following fierce criticism of his cabinet across the National Assembly.

What does Roca Nation think?

🍿 Yesterday’s Question: Last week’s answers were so great that we ask again: What was the highlight of your weekend?

🗞️ Today’s Question: Have you heard of The Free Press? What’s your take on them?

Reply to this email with your response!

POPCORN
Some Quick Stories for Happy Hour

👮 Barbie Dream DUI: A Canadian man was arrested after driving a pink children’s Barbie Jeep down a busy road while over the legal alcohol limit.

🍵 Gumbo Guardian: A Florida restaurant cook saved a regular customer’s life after noticing the elderly man hadn't shown up for his daily 11AM cup of gumbo in over a week.

🥇 Gold Again: Turkish shooter Yusuf Dikec, who became an internet sensation at the Paris 2024 Olympics for his minimalist shooting style, led Turkey’s national team to three gold medals at the European Champions League of Air Weapons in Istanbul.

🐠 Ancient Fish Tale: A 4-centimeter fish fossil discovered in Alberta is rewriting the evolutionary history of otophysans, a supergroup that today includes catfish, carp, and tetras and accounts for two-thirds of all freshwater species.

🪙 Liquid Assets: More than 1,000 silver and gold coins from a 1715 Spanish treasure fleet have been discovered off Florida’s aptly named “Treasure Coast,” with an estimated value of $1M.

ROCA WRAP
From Slave to Congressman

Robert Smalls

An enslaved ship pilot freed himself and his family by commandeering a Confederate warship and sailing it to Union forces during the Civil War.

Robert Smalls was born enslaved in Beaufort, SC, in 1839. At age 12, his enslaver sent him to Charleston to work as a laborer, where his love of the sea led him to the docks. He worked his way up to become a wheelman – essentially a helmsman, though enslaved people weren't permitted that title – gaining intimate knowledge of Charleston Harbor’s waterways.

By May 1862, he had spent months piloting the CSS Planter, a Confederate transport ship, throughout the harbor and along the coast, memorizing Confederate signal codes and defensive positions. The ship’s three white officers routinely spent nights ashore, leaving Smalls and the enslaved crew aboard. Smalls hatched a plan to steal the ship, free his family, and deliver valuable Confederate military assets to Union forces blockading the harbor.

In the early hours of May 13, 1862, Smalls put on the captain’s uniform and sailed the Planter past five Confederate forts, giving correct whistle signals at each checkpoint, sailing all the way past Fort Sumter. Once beyond cannon range, Smalls hoisted a white bedsheet his wife had brought and steered toward Union ships. He surrendered the Planter along with its weapons, ammunition, Confederate code books, and a map showing mine locations in Charleston Harbor.

Smalls became an instant celebrity in the North, with newspapers celebrating his daring feat. Congress awarded him and his crew prize money for capturing the vessel, with Smalls receiving $1,500. He went on to serve the Union throughout the war, piloting multiple ships and participating in 17 major battles. In December 1863, when the Planter came under Confederate fire near Secessionville, the white captain fled to the coal bunker. Smalls took command and piloted the ship to safety, earning promotion to acting captain.

After the war, Smalls returned to Beaufort and purchased his former enslaver’s house. He became a founder of South Carolina's Republican Party and won election to the state legislature, where he authored legislation creating the state’s first free and compulsory public school system. He later served five terms in the US House of Representatives during Reconstruction. Smalls remained politically active until his death in 1915. He was the last Republican to represent South Carolina’s 5th congressional district until 2010 – nearly a century later.

From enslaved wheelman to US Congressman, Smalls proved that courage and intelligence could break even the heaviest chains.

EDITOR’S NOTE
Final Thoughts

Speaking of We The 66, check out this morning’s We The 66 piece on the two unconventional Senate candidates who could save the Democratic Party. So far we’ve received a ton of positive feedback from our We The 66 readers, so we figured we’d highlight for those of you who haven’t made the jump.

Hope you all have a wonderful day. Loved hearing about your weekend highlights once again. Such a diverse and fascinating community.

–Max and Max