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Plus: No more digital nomads.
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Wednesday, November 19, 2025
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Spencer Platt/Getty Images
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<span style="font-size:16px;color:#000000;font-family:Helvetica Neue,Helvetica,Arial,sans-serif;background-color:#FFFFFF">
Good morning, Quartz readers! It’s Shannon Carroll with the Daily Brief. Today, markets go queasy as Nvidia steps onto center stage, the nomad crowd finds that the open road is full of speed bumps, a three-way AI pact starts rearranging everyone else’s chessboard, and
Meta survives a courtroom un-friending.
<span class="ql-cursor">
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<span style="font-size:18px;color:#168DD9">
HERE'S WHAT YOU NEED TO KNOW
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<strong style="font-size:16px;color:#000000;font-family:Helvetica
Neue,Helvetica,Arial,sans-serif;background-color:#FFFFFF">
Google’s CEO braces for an AI comedown.
</strong>
<span style="font-size:16px;color:#000000;font-family:Helvetica Neue,Helvetica,Arial,sans-serif;background-color:#FFFFFF">
Sundar Pichai said no company would escape an AI-investment correction, even while arguing that AI will ultimately prove as transformative
</span>
<a data-linktext="as the early internet." data-linktype="Normal" style="color:#168DD9;font-size:16px;font-family:Helvetica Neue,Helvetica,Arial,sans-serif;background-color:#FFF;text-decoration:none;" target="_blank">
as the early internet.
</a>
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<div>
<strong style="font-size:16px;color:#000000;font-family:Helvetica Neue,Helvetica,Arial,sans-serif;background-color:#FFFFFF">
Three AI giants stitched their futures together.
</strong>
<span style="font-size:16px;color:#000000;font-family:Helvetica Neue,Helvetica,Arial,sans-serif;background-color:#FFFFFF">
Nvidia, Microsoft, and Anthropic agreed to a multibillion-dollar loop of chips, cloud capacity, and model development that ties each company’s roadmap
</span>
<a data-linktext="to the other two." data-linktype="Normal" style="color:#168DD9;font-size:16px;font-family:Helvetica
Neue,Helvetica,Arial,sans-serif;background-color:#FFF;text-decoration:none;" target="_blank">
to the other two.
</a>
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</span>
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<div>
<strong style="font-size:16px;color:#000000;font-family:Helvetica Neue,Helvetica,Arial,sans-serif;background-color:#FFFFFF">
Meta dodges a breakup threat.
</strong>
<span style="font-size:16px;color:#000000;font-family:Helvetica Neue,Helvetica,Arial,sans-serif;background-color:#FFFFFF">
A judge ruled
that the FTC failed to prove Meta still holds social-networking monopoly power, especially once TikTok and YouTube are included, leaving
</span>
<a data-linktext="Instagram and WhatsApp
in-house." data-linktype="Normal" style="color:#168DD9;font-size:16px;font-family:Helvetica Neue,Helvetica,Arial,sans-serif;background-color:#FFF;text-decoration:none;" target="_blank">
Instagram and WhatsApp in-house.
</a>
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</span>
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<div>
<strong style="font-size:16px;color:#000000;font-family:Helvetica
Neue,Helvetica,Arial,sans-serif;background-color:#FFFFFF">
The U.S. housing market hits pause.
</strong>
<span style="font-size:16px;color:#000000;font-family:Helvetica Neue,Helvetica,Arial,sans-serif;background-color:#FFFFFF">
Home Depot’s earnings show a mood marked by uneven corrections, mixed regional price trends, and consumers who want to move but remain unconvinced that
</span>
<a data-linktext="this is the right moment." data-linktype="Normal" style="color:#168DD9;font-size:16px;font-family:Helvetica Neue,Helvetica,Arial,sans-serif;background-color:#FFF;text-decoration:none;" target="_blank">
this is the right moment.
</a>
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Wall Street spent Tuesday morning trading like someone inching toward a cliff they’re pretty sure is real. Stocks slipped on both sides of the Pacific — Japan down, South Korea down, Europe in matching shades of red — and the U.S. followed suit. The S&P 500 closed down 0.8%, teeing up what could be its longest losing streak since August, while the Dow and Nasdaq joined the slide. Underneath the red ink sits one source of collective heartburn: Nvidia reports earnings Wednesday, and its $4.6 trillion valuation has
become the unofficial stress test for the entire AI trade.
</span>
</div>
<div>
<br/>
</div>
<div>
<span style="font-size: 16px">
That mood is wobbling. Nvidia shares dipped roughly 2.8% Tuesday as investors braced for a quarter so consequential that one analyst said there has “rarely been more riding on an individual set of results.” JPMorgan’s Daniel Pinto added fuel, warning an AI correction would drag the rest of the S&P with it. Among the bubble whispers, the global red ink, and a tech sector suddenly blinking hard, the trade that once felt
unstoppable now feels like it has a heartbeat — and not a resting one.
</span>
</div>
<div>
<br/>
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<div>
<span style="font-size: 16px">
The Fed isn’t calming anyone down. A backlog of delayed economic data, including September’s still-missing jobs report, is finally set to drop, and any hint of heat could weaken the case for a December rate cut. Chair Jerome Powell already cast doubt by saying a cut is “far from” guaranteed; Boston Fed President Susan Collins echoed the caution. Only Governor Christopher Waller is leaning the other way, citing a
weakening labor market. Traders heard the split: Odds of a December cut sank to 47% on Tuesday, down more than 10 points from last week. It seems like by the end of the day, the only thing rising was everyone’s pulse.
</span>
<a data-linktext="Quartz’s Alex
Daniel has more on the market that’s trying to chip away at its nerves." data-linktype="Normal" style="color:#168DD9;font-size:16px;text-decoration:none;" target="_blank">
Quartz’s Alex Daniel has more on the market that’s trying to chip away at its nerves.
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The digital-nomad fantasy always sold itself as modern adulthood’s cheat code — outrun rent, stash your life in a carry-on, and let Wi-Fi be your only landlord. But the scaffolding under that dream is wobbling. Pandemic-era remote norms are fading, algorithm tweaks are gutting the online cottage industries that once funded perpetual motion, and AI is muscling into the jobs that once kept the whole operation alive.
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Now, the forces running the table are pulling
in the same direction. Employers that once shrugged at far-flung staff are tightening the radius for everything from mentoring to managerial comfort. Fully remote listings have dwindled into a sliver, and the SEO-powered microbusiness boom has hit a wall as search shifts toward AI-generated answers. Even countries that built glossy “nomad visa” programs are adding friction — tax forms here, insurance mandates there, a growing insistence that anyone sticking around should behave like an actual resident, not a 90-day
ghost.
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The digital-nomad script is getting a rewrite. A few destinations — Albania, Vietnam, Uruguay, Thailand, Mexico, etc. — still make the math work, but the playbook is shifting toward longer stays, real residencies, and fewer roulette spins at the border. What used to look like a loophole now resembles an administrative hobby, complete with forms, fees, and patience. And beneath the lifestyle churn sits a quieter truth: The retreat from flexibility lands hardest on workers who
relied on it, not the Instagram crowd. The next chapter of remote life favors intention over improvisation, and choosing a home base instead of outrunning one.
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<a data-linktext="Quartz’s Catherine Baab has more on the open-road mindset facing closed-door
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Quartz’s Catherine Baab has more on the open-road mindset facing closed-door policies.
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Meet the growing cast of rivals to Tesla’s Optimus robots
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Survey says: AI is choking the entry-level pipeline
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