The lowdown

While you were out there winning, here’s the lowdown:

• 🛒 Whole Foods’ First Union
  Turns out the organic kale aisle just got a lot spicier. Workers at a Philly Whole Foods store formed the first-ever union at the Amazon-owned chain—no small feat considering the tech giant’s not-so-subtle union-busting reputation.

• 🚗 Waymo Robotaxi Attacked in LA
  A Waymo self-driving cab got absolutely wrecked by a crowd in LA. Sure, the car had no driver, but clearly it still managed to run afoul of the locals, who gleefully left it in shambles.

• 💰 Treasury Yields Rise Off 2025 Lows
  Treasury yields rebounded as global markets steadied and risk appetite crept back. With the Federal Reserve’s first decision of the year looming, traders are on edge and bracing for fresh policy clues.

Featured story

DeepSeek’s Cost-Crushing AI Approach Leaves U.S. Rivals in the Dust

Move over, OpenAI—there’s a new player in town, and it’s causing a stir. Chinese startup DeepSeek just unveiled an AI model so advanced it’s making Silicon Valley nervous. Built on Nvidia’s older H800 chips—accessible before the U.S. widened export bans—the Hangzhou-based firm’s reasoning model outperformed OpenAI’s latest offerings and stirred up industry-wide concern. Wired reports that DeepSeek managed to achieve this breakthrough at a fraction of the cost and time that other AI giants have spent, further shaking investor confidence.

U.S. lawmakers, already concerned about the growing influence of Chinese AI, are now scrambling to figure out how to respond. DeepSeek’s use of open-source code complicates efforts to enforce trade restrictions, leaving regulators in “uncharted waters.” This rapid leap in AI development not only calls into question the effectiveness of current export controls, but also pressures American tech giants to reconsider their own development strategies.

As DeepSeek’s rise sparks global debate, it highlights a critical shift in the AI landscape: innovation is no longer confined to U.S. shores or reliant on the latest hardware. For competitors and regulators alike, the challenge now is to navigate this new terrain without stifling progress or losing their footing in the race for AI dominance.

Off-balance sheet items

The bottom line

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