The lowdown

Here’s what’s catching our attention this week:

• 🌍 U.S. Federal Reserve Exits Climate Coalition
  The Federal Reserve has withdrawn from the NGFS, a global group focused on climate risk and green finance. As skepticism toward climate policies grows, the Fed argues its climate-focused efforts fall outside its mandate, sparking questions about how the financial system will address climate risks going forward.

• 👴 Bernie Sanders Files for Reelection at 89
  At 83, Bernie Sanders is gearing up for another Senate term, filing paperwork for a 2030 campaign that would make him 89 at reelection. Amid growing debates about age in politics, Sanders remains a vocal critic of oligarchy and authoritarianism, showing no signs of stepping down from the fight.

• ⛽ Rising Oil Prices Push Gas Costs Higher
  Despite low gas demand, prices at the pump are creeping up, with the national average hitting $3.10 per gallon. AAA cites strong winter heating demand and sanctions on Russia as key drivers, leaving consumers bracing for further fluctuations as oil prices hover around $80 per barrel.

Featured story

TikTok’s Last Dance? Perplexity AI Makes a Bold Move

TikTok’s U.S. fate just got a new twist—Perplexity AI has entered the race to save the wildly popular app from an impending ban. Under a looming law requiring ByteDance to sell or shut down TikTok in the U.S., Perplexity’s bold bid proposes merging with TikTok U.S. to create a new entity, allowing ByteDance investors to retain equity while adding fresh partners. The move could also supercharge Perplexity’s AI-powered search engine with TikTok’s massive video ecosystem—a game-changing combo for the tech world.

When the ban officially went into effect on January 19, TikTok went dark for millions of U.S. users—at least temporarily. Newly inaugurated President Trump has hinted at granting a 90-day extension, but ByteDance remains resistant to a sale, arguing it would cause more harm than good. This isn’t just about an app; it’s a high-stakes geopolitical clash between the U.S. and China.

Perplexity’s bold merger proposal could be the solution that brings TikTok back, but time is running out, and ByteDance’s reluctance could derail any deal. Will this plan revive the app and reshape the U.S. tech landscape, or is this the final countdown for the app that changed how we scroll?

The content we're consuming today

Here’s what we’re reading this week:

• Politico EU: French customs hit a record in 2024, seizing 13 tons of “erectile honey” laced with Viagra-like drugs. Sold on the black market, these tainted supplements are a health hazard, especially when mixed with medications like those for high blood pressure.

• Newsweek: MrBeast is rallying billionaires to support his next charitable video, aiming to feed people in need worldwide. With 346 million subscribers and millions of his own dollars invested, the YouTube star is proving philanthropy can be as big as his stunts.

• BBC: Archaeologists have uncovered a “once-in-a-century” find in Pompeii—a massive private bathhouse with stunning frescoes and mosaics. This extraordinary discovery sheds light on the luxurious lives of the Roman elite and the stark contrast with the slaves who powered their opulence.

Off-balance sheet items

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  Image Credit: Employee Tears

The bottom line

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