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   Daily 2025-10-21
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               Tue, Oct 21 | 3:13 read time
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                          S&amp;P 500
                         </td>
                         <td style="font-size:12px;color:#16B166;font-weight:500;font-family:Trispace,monospace;width:30%;vertical-align:baseline;padding:10px 0 0 0">
                          1.07% ▲
                         </td>
                         <td style="font-size:12px;width:30%;vertical-align:baseline;text-align:right;padding:10px 0 0 0;font-family:Trispace,monospace">
                          6,735
                         </td>
                        </tr>
                        <tr>
                         <td style="font-size:12px;font-weight:700;width:40%;vertical-align:baseline;padding:10px 0 0 0">
                          GOLD
                         </td>
                         <td style="font-size:12px;color:#16B166;font-weight:500;font-family:Trispace,monospace;width:30%;vertical-align:baseline;padding:10px 0 0 0">
                          3.63% ▲
                         </td>
                         <td style="font-size:12px;width:30%;vertical-align:baseline;text-align:right;padding:10px 0 0 0;font-family:Trispace,monospace">
                          $4,366
                         </td>
                        </tr>
                        <tr>
                         <td style="font-size:12px;font-weight:700;width:40%;vertical-align:baseline;padding:10px 0 0 0">
                          BITCOIN*
                         </td>
                         <td style="font-size:12px;color:#16B166;font-weight:500;font-family:Trispace,monospace;width:30%;vertical-align:baseline;padding:10px 0 0 0">
                          2.19% ▲
                         </td>
                         <td style="font-size:12px;width:30%;vertical-align:baseline;text-align:right;padding:10px 0 0 0;font-family:Trispace,monospace">
                          $111,054
                         </td>
                        </tr>
                        <tr>
                         <td colspan="3" style="font-size:10px;font-family:Trispace,monospace;color:#7F879C;padding:0">
                          *24-hour change
                         </td>
                        </tr>
                       </tbody>
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                          FTSE 100
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                          0.52% ▲
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                         <td style="font-size:12px;width:30%;vertical-align:baseline;text-align:right;padding:10px 0 0 0;font-family:Trispace,monospace">
                          9,404
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                          BRENT OIL
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                         <td style="font-size:12px;color:#EA3459;font-weight:500;font-family:Trispace,monospace;width:30%;vertical-align:baseline;padding:10px 0 0 0">
                          0.52% ▼
                         </td>
                         <td style="font-size:12px;width:30%;vertical-align:baseline;text-align:right;padding:10px 0 0 0;font-family:Trispace,monospace">
                          $60.97
                         </td>
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                          US BONDS*
                         </td>
                         <td style="font-size:12px;color:#16B166;font-weight:500;font-family:Trispace,monospace;width:30%;vertical-align:baseline;padding:10px 0 0 0">
                          0.04% ▼
                         </td>
                         <td style="font-size:12px;width:30%;vertical-align:baseline;text-align:right;padding:10px 0 0 0;font-family:Trispace,monospace">
                          3.98%
                         </td>
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                          *10-year government yield
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                  WALL STREET FEAR GAUGE INDEX 
(
                  <a style="font-weight:400;font-family:Trispace,monospace">
                   VIX
                  </a>
                  )
                 </div>
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                 <img alt="Wall Street Fear Gauge Index" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Ffinimize-img.imgix.net%252Fhttps%253A%252F%252Fimages.bannerbear.com%252Fdirect%252F7Q4rjJzQn7vZo8qPOx%252Frequests%252F000%252F110%252F238%252F649%252FaMBJ5DWdLYPP9RmkYXRNjrp4Z%252F5eca1e5f7c130145f0fa858fb5f34e07c38432d5.png%253Ffit%253Dclip%2526h%253DNone%2526ixlib%253Dpython-3.1.2%2526w%253D768%2526s%253D82cf970032da8822b53f9225e9a3ef06/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZmaW5pbWl6ZS1pbSIsInRpbWUiOjE3NjEwMzM5OTUuMzY0NDg3Mn0:1vB7O7:ct5Vn1KApwh0KfNWET5tMON0JOsCthoIvmdGIfR4gZA" style="border:0;display:block;outline:none;text-decoration:none;height:auto;width:100%;font-size:13px;" width="580"/>
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                       <p data-block-key="10zqs">
                        👋
                        <b>
                         Welcome to your new Daily Brief.
                        </b>
                        We've kept the bits you love and added some shiny new stuff to help you stay informed and invest
smarter. Reply to this email to tell us what you think (ideally thoughts on this newsletter, but we'll listen regardless.)
                       </p>
                       <p data-block-key="4ot0k">
                       </p>
                       <p data-block-key="1mo7b">
                        🟢 Bitcoin miners swapped shovels for AI – and investors respected the hustle
                       </p>
                       <p data-block-key="8ffu2">
                        🟡 China’s economy stayed close to target last quarter, but the government’s five-year plan could still go either way
                       </p>
                       <p data-block-key="8hoev">
                        ➕ The startup making food from thin air
                       </p>
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                        <b>
                         👇 Keep reading to find out more
                        </b>
                       </p>
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                      <a target="_blank">
                       <img alt="Mining Their Own Business" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Ffinimize-img.imgix.net%252Fhttps%253A%252F%252Fchivas-assets.s3-eu-west-1.amazonaws.com%252Fstatic%252Fimages%252FEditorial-201025-BitcoinMiners_1.original.jpg%253Ffit%253Dcrop%2526h%253D600%2526ixlib%253Dpython-3.1.2%2526w%253D1200%2526s%253D93e7fb8a75ba13aab8ffbed4802e30aa/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZmaW5pbWl6ZS1pbSIsInRpbWUiOjE3NjEwMzM5OTUuMzY0NjM1fQ:1vB7O7:6G1DCgOSEOx5_I92-NfJceJUV7kA-n0GXTCTSvNcZxI" style="border:0;display:block;outline:none;text-decoration:none;height:auto;width:100%;font-size:13px;" width="600"/>
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                 <td align="left" style="font-size:0px;padding:10px 25px;padding-right:0;padding-left:0;word-break:break-word;">
                  <div style="font-family:Inter,sans-serif;font-size:14px;line-height:1.5;text-align:left;color:#000000;">
                   <p data-block-key="xhw2t">
                    <b>
                     What’s going on here?
                    </b>
                   </p>
                   <p data-block-key="8gj4p">
                    Bitcoin miners found a new way to strike gold – so now, a fund tracking them is up over 150% this year, trumping bitcoin’s 14% rally.
                   </p>
                   <p data-block-key="1756j">
                    <b>
                     What does this
mean?
                    </b>
                   </p>
                   <p data-block-key="3quch">
                    Bitcoin miners run massive data centers filled with specialized computers, solving complex puzzles to earn crypto. But this spring, the “halving” event – which cuts the rate of bitcoin production by 50% – sliced into their profit margins. Combine that with rising energy costs and increasingly difficult puzzles, and the whole operation became unsustainable for many firms.
                   </p>
                   <p data-block-key="7lqoi">
                    So instead, major miners – including
                    <b>
                     Cipher
                    </b>
                    ,
                    <b>
                     Bitdeer
                    </b>
                    , and
                    <b>
                     IREN
                    </b>
                    – are renting their data centers out to AI companies.
                   </p>
                   <p data-block-key="fhuov">
                    ▶ So far, so good. They’re making much more money this way, without using any extra energy. And besides their regular revenue, Cipher has bagged a $3 billion decade-long partnership with Fluidstack while IREN’s raised $1 billion to invest in Nvidia chips and other infrastructure.
                   </p>
                   <p data-block-key="64k1f">
                    <b>
                     Why should I care?
                    </b>
                   </p>
                   <p data-block-key="ccbio">
                    <b>
                     <i>
                      For
markets:
                     </i>
                    </b>
                    <i>
                     Facts, not feelings.
                    </i>
                   </p>
                   <p data-block-key="4629l">
                    Bitcoin may have broken records this year – but traders have been drawn in by crypto-friendly regulation, rather than signs of wider adoption. That means the rally’s future hinges on optimism, not fundamental figures.
                   </p>
                   <p data-block-key="4ore1">
                    ▶ In contrast, companies known for bitcoin mining are backed up by real revenue and valuable assets. No wonder some investors are choosing to back physical infrastructure firms
like these, instead of the cryptocurrencies themselves.
                   </p>
                   <p data-block-key="280sa">
                    <b>
                     <i>
                      The bigger picture:
                     </i>
                    </b>
                    <i>
                     Talk about a power play.
                    </i>
                   </p>
                   <p data-block-key="9kjr7">
                    IREN shows how this pivot works in practice. The former bitcoin miner will soon boast more than two gigawatts of power capacity (enough to run a small city)
                    <i>
                     and
                    </i>
                    access to Nvidia’s chips – both scarce and sought-after assets. The company expects AI to bring in $125 million in quarterly revenue early next
year, which could rise to $20 billion annually at full capacity. So long as demand for AI computing power keeps growing faster than supply, IREN could be in the money.
                   </p>
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                         Lighter On Costs And Making Food From Air: Why Solar Foods Has Investors
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                       <p data-block-key="pr7ai">
                        A couple of months ago, I did a deep dive into
                        <a>
                         Solar Foods
                        </a>
                        – a Finnish food-tech company that’s working to create a brand-new protein category.
                       </p>
                       <p data-block-key="1qttq">
                        The firm is still young, but its growth and profit potential
                        <a>
                         could be huge
                        </a>
                        if it can successfully execute.
                       </p>
                       <p data-block-key="lc6v">
                        Key to its expansion is “Factory 02” – a production plant that’s set to be the
                        <a>
                         food-from-thin-air startup’s
                        </a>
                        first large-scale site.
                       </p>
                       <p data-block-key="e7ri7">
                        And just last week, Solar Foods
                        <a>
                         delivered
                        </a>
                        an important update on its plans for that facility.
                       </p>
                       <p data-block-key="en5mc">
                        That’s today’s Insight:
                        <a>
                         why Solar Foods has investors seeing green
                        </a>
                        .
                       </p>
                       <p data-block-key="96af5">
                        <a>
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                          Read or listen to the Insight here
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                      <a target="_blank">
                       <img alt="Surf Air Mobility" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Ffinimize-img.imgix.net%252Fhttps%253A%252F%252Fchivas-assets.s3-eu-west-1.amazonaws.com%252Fstatic%252Fimages%252FFINIMIZE_1000x500px_2.original.png%253Ffit%253Dclip%2526h%253DNone%2526ixlib%253Dpython-3.1.2%2526w%253D768%2526s%253D05e4b260ab734c5c579a0d90016ee321/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZmaW5pbWl6ZS1pbSIsInRpbWUiOjE3NjEwMzM5OTUuMzY1MTYzNn0:1vB7O7:m-IKNTTZoogvY-GUSw2j3Eh_ULHaCYPzWd6h0DUk9No" style="border:0;display:block;outline:none;text-decoration:none;height:auto;width:100%;font-size:13px;" width="600"/>
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                   <h4 data-block-key="bepsg">
                    <b>
                     Welcome to the future of flight...
                    </b>
                   </h4>
                   <p data-block-key="53nm2">
                    Surf Air Mobility (NYSE:
                    <a>
                     $SRFM
                    </a>
                    ) is already one of America’s biggest commuter airlines, making over
$100 million in revenue and flying over 320,000 passengers a year.
                   </p>
                   <p data-block-key="1pf0u">
                    And earlier this year, they unveiled the flagship products of their
                    <a>
                     AI-enabled software, called SurfOS
                    </a>
                    , and powered by Palantir Technologies.
                   </p>
                   <p data-block-key="8m853">
                    Put simply, SurfOS is being designed to unlock greater efficiency, reliability, and
                    <a>
                     profitability across
the air mobility industry
                    </a>
                    by reducing manual work, improving operations, and connecting every stakeholder through a single intelligent platform.
                   </p>
                   <p data-block-key="aldu7">
                    Put even more simply, Surf Air Mobility has set out to
                    <a>
                     completely disrupt the air mobility market
                    </a>
                    .
                   </p>
                   <p data-block-key="1dqu1">
                    Find out more about
                    <a>
                     Surf Air Mobility
                    </a>
                    and the
                    <a>
                     future of air travel
                    </a>
                    .
                   </p>
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                   Please see important disclosures below*
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                     👀
                    </span>
                    <span style="font-style:italic">
                     Today's headlines
                    </span>
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                     Sum It Up
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                  <div style="font-family:Inter,sans-serif;font-size:14px;line-height:1.5;text-align:left;color:#000000;">
                   <p data-block-key="uja0g">
                    <b>
                     What’s going on here?
                    </b>
                   </p>
                   <p data-block-key="9e9po">
                    China’s economy grew 4.8% last quarter versus last year – its weakest showing in 12 months – but round up here, carry the one there, and officials say the annual 5% target is still within
reach.
                   </p>
                   <p data-block-key="1acha">
                    <b>
                     What does this mean?
                    </b>
                   </p>
                   <p data-block-key="6iejd">
                    Chinese factories were whirring away last quarter – in fact, production was up 6.5% this September from last. However, the rest of the country wasn’t feeling quite as industrial. Everyday shoppers spent the least in nearly a year. And the building industry tightened purse strings too, with investment in housing, manufacturing, and infrastructure falling for the first time since 2020.
                   </p>
                   <p data-block-key="8q891">
                    <b>
                     Why should I care?
                    </b>
                   </p>
                   <p data-block-key="cfqdq">
                    <b>
                     <i>
                      For markets:
                     </i>
                    </b>
                    <i>
                     Everyone needs a five-year plan.
                    </i>
                   </p>
                   <p data-block-key="8g2p9">
                    China’s worked hard to keep the economy
                    <i>
                     close
                    </i>
                    to the track. The government’s focused on bolstering industries, handing provinces an additional $70 billion worth of funding to pay off debt and fund projects. And this week, officials will plan the next five years of financial support.
                   </p>
                   <p data-block-key="6obk6">
                    ▶
Option one: stick to the tried-and-tested tactic of supporting businesses. Those companies will then make stuff and sell it to the rest of the world, leaning into international trade far more than local demand.
                   </p>
                   <p data-block-key="8muoq">
                    ▶ Option two: use policies and pledges to get consumers spending money. After all, China’s household spending makes up a far smaller share of the economy than in, say, the US, Europe, or Japan. Change that, and China wouldn’t be as reliant on international
trade – and, in turn, friendly tariff policies.
                   </p>
                   <p data-block-key="44njt">
                    <b>
                     <i>
                      Zooming out:
                     </i>
                    </b>
                    <i>
                     Make more, make less.
                    </i>
                   </p>
                   <p data-block-key="ecous">
                    China’s industries are already fiercely competitive – and with shoppers keeping their money in the bank, businesses need to bring prices even lower to stand a chance of making a sale. To make up for smaller profit margins, those companies produce even more wares – which only makes the problem worse. China calls this
“involution”, where industries work harder by the year just to stand still.
                   </p>
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         <table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="width:100%;">
          <tbody>
           <tr>
            <td style="border-top:2px solid #204CE9;direction:ltr;font-size:0px;padding:20px 0;padding-bottom:0;padding-top:8px;text-align:center;">
             <!--[if mso | IE]>
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              <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="vertical-align:top;" width="100%">
               <tbody>
                <tr>
                 <td align="left" style="font-size:0px;padding:10px 25px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0px;word-break:break-word;">
                  <div style="font-family:Inter,sans-serif;font-size:14px;font-weight:bold;line-height:1.5;text-align:left;text-transform:uppercase;color:#030303;">
                   <mj-raw>
                    <span style="font-style:normal">
                     🖋️
                    </span>
                    <span style="font-style:italic">
                     Quote
of the day
                    </span>
                   </mj-raw>
                  </div>
                 </td>
                </tr>
               </tbody>
              </table>
             </div>
             <!--[if mso | IE]>
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<![endif]-->
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</td></tr><tr><td class="" width="600px">
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<![endif]-->
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          <tbody>
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            <td style="direction:ltr;font-size:0px;padding:20px 0;padding-bottom:32px;padding-top:8px;text-align:center;">
             <!--[if mso | IE]>
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              <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="vertical-align:top;" width="100%">
               <tbody>
                <tr>
                 <td align="left" style="font-size:0px;padding:10px 25px;padding-right:0;padding-left:0;word-break:break-word;">
                  <div style="font-family:Inter,sans-serif;font-size:14px;line-height:1.5;text-align:left;color:#000000;">
                   <strong>
                    "Money does not make you happy but it quiets the nerves."
                   </strong>
                   — Sean O'Casey (an Irish dramatist and memoirist)
                  </div>
                 </td>
                </tr>
               </tbody>
              </table>
             </div>
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     </tbody>
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   </div>
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</td></tr></table>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="" role="presentation" style="width:600px;" width="600"><tr><td style="line-height:0px;font-size:0px;mso-line-height-rule:exactly;">
<![endif]-->
   <div style="margin:0px auto;max-width:600px;">
    <table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="width:100%;">
     <tbody>
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       <td style="direction:ltr;font-size:0px;padding:0;padding-bottom:24px;text-align:center;">
        <!--[if mso | IE]>
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<![endif]-->
        <div style="margin:0px auto;max-width:600px;">
         <table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="width:100%;">
          <tbody>
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             <!--[if mso | IE]>
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              <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="vertical-align:top;" width="100%">
               <tbody>
                <tr>
                 <td align="left" style="font-size:0px;padding:10px 25px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0px;word-break:break-word;">
                  <div style="font-family:Inter,sans-serif;font-size:14px;font-weight:bold;line-height:1.5;text-align:left;text-transform:uppercase;color:#030303;">
                   <mj-raw>
                    <span style="font-style:italic">
                     Introducing Meanwhile
                    </span>
                   </mj-raw>
                  </div>
                 </td>
                </tr>
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              </table>
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</td></tr><tr><td class="" width="600px">
<table align="center" border="0" cellpadding="0" cellspacing="0" class="" role="presentation" style="width:600px;" width="600"><tr><td style="line-height:0px;font-size:0px;mso-line-height-rule:exactly;">
<![endif]-->
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         <table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="width:100%;">
          <tbody>
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            <td style="direction:ltr;font-size:0px;padding:20px 0;padding-bottom:32px;padding-top:8px;text-align:center;">
             <!--[if mso | IE]>
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               <tbody>
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                 <td align="center" style="font-size:0px;padding:0;padding-bottom:16px;word-break:break-word;">
                  <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;border-spacing:0px;">
                   <tbody>
                    <tr>
                     <td style="width:600px;">
                      <a target="_blank">
                       <img alt="Meanwhile at Modern Investor Summit" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Ffinimize-img.imgix.net%252Fhttps%253A%252F%252Fchivas-assets.s3-eu-west-1.amazonaws.com%252Fstatic%252Fimages%252FMIS25-SpeakerAnnouncement-email-1000x500-meanwh.original.png%253Ffit%253Dclip%2526h%253DNone%2526ixlib%253Dpython-3.1.2%2526w%253D768%2526s%253D0bac91c9d5a046626bf50b85b5b714db/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZmaW5pbWl6ZS1pbSIsInRpbWUiOjE3NjEwMzM5OTUuMzY1NDA0OH0:1vB7O7:wx3Px4nII4JRibnfDvDrfM3Y4X5M2Rgi2EfJ_hBXuj0" style="border:0;display:block;outline:none;text-decoration:none;height:auto;width:100%;font-size:13px;" width="600"/>
                      </a>
                     </td>
                    </tr>
                   </tbody>
                  </table>
                 </td>
                </tr>
                <tr>
                 <td align="left" style="font-size:0px;padding:0;padding-right:0;padding-bottom:0;padding-left:0;word-break:break-word;">
                  <div style="font-family:Inter,sans-serif;font-size:14px;line-height:1.5;text-align:left;color:#000000;">
                   <p data-block-key="ps0yc">
                    <b>
                     What do bitcoin and life insurance have in common?
                    </b>
                    <br/>
                   </p>
                   <p data-block-key="fjf89">
                    Very little… Except that together, they could help secure your family’s financial future
                    <br/>
                   </p>
                   <p data-block-key="3ms6t">
                    <a>
                     Meanwhile
                    </a>
                    has brought these two worlds together, creating the first life insurance policies entirely denominated in bitcoin. So now, you can
                    <a>
                     protect and grow long-term wealth
                    </a>
                    while staying fully within the bitcoin economy.
                    <br/>
                   </p>
                   <p data-block-key="dplug">
                    That first-of-its-kind model just earned
Meanwhile
                    <a>
                     $82 million in new funding
                    </a>
                    from some of the biggest names in finance and crypto – led by Bain Capital Crypto and Haun Ventures, with early backing from OpenAI’s Sam Altman.
                    <br/>
                   </p>
                   <p data-block-key="16ppv">
                    Come and meet the founder behind it all: Meanwhile CEO
                    <b>
                     Zac Townsend
                    </b>
                    will be speaking at our
                    <a>
                     <b>
                      Modern Investor Summit
                     </b>
                    </a>
                    this December.
                    <br/>
                   </p>
                  </div>
                 </td>
                </tr>
               </tbody>
              </table>
             </div>
             <!--[if mso | IE]>
</td></tr></table>
<![endif]-->
            </td>
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          </tbody>
         </table>
        </div>
        <!--[if mso | IE]>
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</td></tr></table>
<![endif]-->
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      </tr>
     </tbody>
    </table>
   </div>
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</td></tr></table>
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<![endif]-->
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    <table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="width:100%;">
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       <td style="direction:ltr;font-size:0px;padding:0;padding-bottom:24px;text-align:center;">
        <!--[if mso | IE]>
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<![endif]-->
        <div style="margin:0px auto;max-width:600px;">
         <table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="width:100%;">
          <tbody>
           <tr>
            <td style="border-top:2px solid #204CE9;direction:ltr;font-size:0px;padding:20px 0;padding-bottom:0;padding-top:8px;text-align:center;">
             <!--[if mso | IE]>
<table role="presentation" border="0" cellpadding="0" cellspacing="0"><tr><td class="" style="vertical-align:top;width:600px;">
<![endif]-->
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              <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="vertical-align:top;" width="100%">
               <tbody>
                <tr>
                 <td align="left" style="font-size:0px;padding:10px 25px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0px;word-break:break-word;">
                  <div style="font-family:Inter,sans-serif;font-size:14px;font-weight:bold;line-height:1.5;text-align:left;text-transform:uppercase;color:#030303;">
                   <mj-raw>
                    <span style="font-style:normal">
                     🎯
                    </span>
                    <span style="font-style:italic">
                     On Our
Radar
                    </span>
                   </mj-raw>
                  </div>
                 </td>
                </tr>
               </tbody>
              </table>
             </div>
             <!--[if mso | IE]>
</td></tr></table>
<![endif]-->
            </td>
           </tr>
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         </table>
        </div>
        <!--[if mso | IE]>
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</td></tr><tr><td class="" width="600px">
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<![endif]-->
        <div style="margin:0px auto;max-width:600px;">
         <table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="width:100%;">
          <tbody>
           <tr>
            <td style="direction:ltr;font-size:0px;padding:20px 0;padding-bottom:32px;padding-top:8px;text-align:center;">
             <!--[if mso | IE]>
<table role="presentation" border="0" cellpadding="0" cellspacing="0"><tr><td class="" style="vertical-align:top;width:600px;">
<![endif]-->
             <div class="mj-column-per-100 mj-outlook-group-fix" style="font-size:0px;text-align:left;direction:ltr;display:inline-block;vertical-align:top;width:100%;">
              <table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%">
               <tbody>
                <tr>
                 <td style="vertical-align:top;padding:0;">
                  <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="" width="100%">
                   <tbody>
                    <tr>
                     <td align="left" style="font-size:0px;padding:0;padding-right:0;padding-bottom:0;padding-left:0;word-break:break-word;">
                      <div style="font-family:Inter,sans-serif;font-size:14px;line-height:1.5;text-align:left;color:#000000;">
                       <p data-block-key="aaghi">
                        1.
                        <b>
                         AI could save the world from… AI.
                        </b>
                        Claude could
                        <a>
                         stop the rest of the bots from building nukes
                        </a>
                        .
                       </p>
                       <p data-block-key="6te1l">
                        2.
                        <b>
                         News is in: you’re old.
                        </b>
                        Here’s why “
                        <a>
                         six seven
                        </a>
                        ” might have sent you into a spiral.
                       </p>
                       <p data-block-key="an2vf">
                        3.
                        <b>
                         Glassware’s gone all wonky.
                        </b>
                        Straight lines are out,
                        <a>
                         melting tableware is in
                        </a>
                        .
                       </p>
                      </div>
                     </td>
                    </tr>
                   </tbody>
                  </table>
                 </td>
                </tr>
               </tbody>
              </table>
             </div>
             <!--[if mso | IE]>
</td></tr></table>
<![endif]-->
            </td>
           </tr>
          </tbody>
         </table>
        </div>
        <!--[if mso | IE]>
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</td></tr></table>
<![endif]-->
       </td>
      </tr>
     </tbody>
    </table>
   </div>
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<table align="center" border="0" cellpadding="0" cellspacing="0" class="" role="presentation" style="width:600px;" width="600"><tr><td style="line-height:0px;font-size:0px;mso-line-height-rule:exactly;">
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    <table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="width:100%;">
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        <!--[if mso | IE]>
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<![endif]-->
        <div style="margin:0px auto;max-width:600px;">
         <table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="width:100%;">
          <tbody>
           <tr>
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             <!--[if mso | IE]>
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<![endif]-->
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              <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="vertical-align:top;" width="100%">
               <tbody>
                <tr>
                 <td align="left" style="font-size:0px;padding:10px 25px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0px;word-break:break-word;">
                  <div style="font-family:Inter,sans-serif;font-size:14px;font-weight:bold;line-height:1.5;text-align:left;text-transform:uppercase;color:#030303;">
                   <mj-raw>
                    <span style="font-style:italic">
                     SPONSORED BY COINGECKO API
                    </span>
                   </mj-raw>
                  </div>
                 </td>
                </tr>
               </tbody>
              </table>
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             <!--[if mso | IE]>
</td></tr></table>
<![endif]-->
            </td>
           </tr>
          </tbody>
         </table>
        </div>
        <!--[if mso | IE]>
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</td></tr><tr><td class="" width="600px">
<table align="center" border="0" cellpadding="0" cellspacing="0" class="" role="presentation" style="width:600px;" width="600"><tr><td style="line-height:0px;font-size:0px;mso-line-height-rule:exactly;">
<![endif]-->
        <div style="margin:0px auto;max-width:600px;">
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                    <tr>
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                      <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;border-spacing:0px;">
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                         <td style="width:600px;">
                          <a target="_blank">
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                  <div style="font-family:Inter,sans-serif;font-size:14px;font-weight:bold;line-height:1.5;text-align:left;text-transform:uppercase;color:#030303;">
                   <mj-raw>
                    <span style="font-style:italic">
                     🎙 Finimize Live
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                   </mj-raw>
                  </div>
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                          <a target="_blank">
                           <img alt="Modern Investor Summit" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Ffinimize-img.imgix.net%252Fhttps%253A%252F%252Fchivas-assets.s3-eu-west-1.amazonaws.com%252Fstatic%252Fimages%252FMIS25-CompetitionAnnouncement-email-1000x500-V4.original_2QwO00s.png%253Ffit%253Dclip%2526h%253DNone%2526ixlib%253Dpython-3.1.2%2526w%253D768%2526s%253Da61d81a2c28c29b9fca2a6c1081664f5/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZmaW5pbWl6ZS1pbSIsInRpbWUiOjE3NjEwMzM5OTUuMzY1NzI1OH0:1vB7O7:Y6sYea_Ucod6g2m8wAHFWnprc9pCC-E_shG3qKsxku4" style="border:0;display:block;outline:none;text-decoration:none;height:auto;width:100%;font-size:13px;" width="600"/>
                          </a>
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          <tbody>
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            <td align="left" style="font-size:0px;padding:10px 25px;padding-right:0;padding-left:0;word-break:break-word;">
             <div style="font-family:Inter,sans-serif;font-size:14px;line-height:1.5;text-align:left;color:#000000;">
              Stay classy,
              <mj-raw>
               Sarah
              </mj-raw>
              😉 This issue of the Daily Brief was curated by
              <a style="color:inherit;font-weight:inherit">
               Theodora
              </a>
              ,
              <a style="color:inherit;font-weight:inherit">
               Russell
              </a>
              , and
              <a style="color:inherit;font-weight:inherit">
               Naomi
              </a>
              .
Got an idea? A question?
              <a>
               Get in touch
              </a>
              .
             </div>
            </td>
           </tr>
          </tbody>
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          <tbody>
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            <td align="left" style="font-size:0px;padding:10px 25px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0px;word-break:break-word;">
             <div style="font-family:Inter,sans-serif;font-size:14px;font-weight:bold;line-height:1.5;text-align:left;text-transform:uppercase;color:#030303;">
              <mj-raw>
               <span style="font-style:normal">
                💌
               </span>
               <span style="font-style:italic">
                THAT
WAS GREAT FOR US... HOW WAS IT FOR YOU?
               </span>
              </mj-raw>
             </div>
            </td>
           </tr>
          </tbody>
         </table>
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        <!--[if mso | IE]>
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         <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="vertical-align:top;" width="100%">
          <tbody>
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            <td align="center" style="font-size:0px;padding:12px 5px;word-break:break-word;">
             <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:separate;width:100%;line-height:100%;">
              <tbody>
               <tr>
                <td align="center" bgcolor="#f8f9ff" role="presentation" style="border:none;border-radius:4px;cursor:auto;mso-padding-alt:10px 25px;background:#f8f9ff;" valign="middle">
                 <a style="display:inline-block;background:#f8f9ff;color:#030303;font-family:Inter,sans-serif;font-size:13px;font-weight:normal;line-height:120%;margin:0;text-decoration:none;text-transform:none;padding:10px 25px;mso-padding-alt:0px;border-radius:4px;" target="_blank">
                  <span aria-hidden="true" role="img">
                   🔥
                  </span>
                  Hot
stuff
                 </a>
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         <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="vertical-align:top;" width="100%">
          <tbody>
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             <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:separate;width:100%;line-height:100%;">
              <tbody>
               <tr>
                <td align="center" bgcolor="#f8f9ff" role="presentation" style="border:none;border-radius:4px;cursor:auto;mso-padding-alt:10px 25px;background:#f8f9ff;" valign="middle">
                 <a style="display:inline-block;background:#f8f9ff;color:#030303;font-family:Inter,sans-serif;font-size:13px;font-weight:normal;line-height:120%;margin:0;text-decoration:none;text-transform:none;padding:10px 25px;mso-padding-alt:0px;border-radius:4px;" target="_blank">
                  <span aria-hidden="true" role="img">
                   👍
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                  Just
alright
                 </a>
                </td>
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              </tbody>
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            </td>
           </tr>
          </tbody>
         </table>
        </div>
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         <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="vertical-align:top;" width="100%">
          <tbody>
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             <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:separate;width:100%;line-height:100%;">
              <tbody>
               <tr>
                <td align="center" bgcolor="#f8f9ff" role="presentation" style="border:none;border-radius:4px;cursor:auto;mso-padding-alt:10px 25px;background:#f8f9ff;" valign="middle">
                 <a style="display:inline-block;background:#f8f9ff;color:#030303;font-family:Inter,sans-serif;font-size:13px;font-weight:normal;line-height:120%;margin:0;text-decoration:none;text-transform:none;padding:10px 25px;mso-padding-alt:0px;border-radius:4px;" target="_blank">
                  <span aria-hidden="true" role="img">
                   😒
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                  ...Meh
                 </a>
                </td>
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            </td>
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    <table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="background:#f8f9ff;background-color:#f8f9ff;width:100%;">
     <tbody>
      <tr>
       <td style="direction:ltr;font-size:0px;padding:20px 0;text-align:center;">
        <!--[if mso | IE]>
<table role="presentation" border="0" cellpadding="0" cellspacing="0"><tr><td class="" style="vertical-align:top;width:600px;">
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         <table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%">
          <tbody>
           <tr>
            <td style="vertical-align:top;padding-right:16px;padding-left:16px;">
             <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="" width="100%">
              <tbody>
               <tr>
                <td align="left" style="font-size:0px;padding:0;padding-right:0;padding-bottom:0;padding-left:0;word-break:break-word;">
                 <div style="font-family:Inter,sans-serif;font-size:10px;line-height:1.5;text-align:left;color:#5E6984;">
                  <p data-block-key="vd1so">
                   <b>
                    *Surf Air Mobility’s Disclosures
                   </b>
                  </p>
                  <p data-block-key="18qlp">
                   Pursuant to an agreement between the Issuer’s Agency of Record and (Finimize),
(Finimize) has been hired for a period beginning on 09/05/2025 and ending on 12/16/2025 to publicly disseminate information about (SRFM:US) via digital communications.
                  </p>
                  <p data-block-key="1hq0n">
                   Under this agreement, (Finimize) has been paid $40,000 USD (“Funds”). To date, including under the previously described agreement, (Finimize) has been paid $40,000 USD (“Funds”).
                  </p>
                  <p data-block-key="610ri">
                   These Funds were part of the funds that (Finimize) received from the Issuer’s Agency of Record
as approved by the Issuer.. (Finimize) does not own securities or stock in the Issuer directly or indirectly.
                  </p>
                 </div>
                </td>
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             <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;border-spacing:0px;">
              <tbody>
               <tr>
                <td style="width:140px;">
                 <a target="_blank">
                  <img alt="Finimize logo" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Ffinimize-img.imgix.net%252Fhttps%253A%252F%252Fchivas-assets.s3.eu-west-1.amazonaws.com%252Fstatic%252Fdaily-email%252Ffinimize-logo-outline.png%253Fixlib%253Dpython-3.1.2%2526s%253D5a5a7586391632ac0a5d5037142fa1ca/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZmaW5pbWl6ZS1pbSIsInRpbWUiOjE3NjEwMzM5OTUuMzY1ODQ4OH0:1vB7O7:VGeSJjK4w1yh1H5N1n5qbWAo4ChOtgTKiWX-pUy6bgE" style="border:0;display:block;outline:none;text-decoration:none;height:auto;width:100%;font-size:13px;" width="140"/>
                 </a>
                </td>
               </tr>
              </tbody>
             </table>
            </td>
           </tr>
          </tbody>
         </table>
        </div>
        <!--[if mso | IE]>
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       </td>
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       <td style="direction:ltr;font-size:0px;padding:20px 0;padding-top:2px;text-align:center;">
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                 <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-radius:3px;width:24px;">
                  <tbody>
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                    <td style="font-size:0;height:24px;vertical-align:middle;width:24px;">
                     <a target="_blank">
                      <img alt="Instagram logo" height="24" src="https://inboxflows.com/_/image/https%253A%252F%252Ffinimize-img.imgix.net%252Fhttps%253A%252F%252Fchivas-assets.s3-eu-west-1.amazonaws.com%252Fstatic%252Fdaily-email%252Finstagram-logo.png%253Fixlib%253Dpython-3.1.2%2526s%253Db929d8c0c006277ac82c03b9a850aa0d/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZmaW5pbWl6ZS1pbSIsInRpbWUiOjE3NjEwMzM5OTUuMzY1OTYyM30:1vB7O7:wugFGEH_TZ7son_aePxWFyBKwtacmaETUlMtMB0luHY" style="border-radius:3px;display:block;" width="24"/>
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