Good morning, Quartz readers!
HERE’S WHAT YOU NEED TO KNOW
Donald Trump falsely claims he saved Obamacare from “disaster.” He actually tried to kill the Affordable Care Act during his first term.
Trump also said he has no immediate plans to fire Jerome Powell. The job security of the Federal Reserve’s chair has been under a lot of scrutiny.
Next year could be a big one for AI agents. Companies are spending billions trying to evolve from chatbots to more sophisticated uses of the technology.
Small businesses could face fines up to $10,000 for missing a key reporting deadline. Owners need to file their Beneficial Ownership Information Reports to the Financial Crimes Enforcement Network by Jan. 1.
Reddit is working on a Reddit-powered AI chatbot. The company is trying to take on Google and OpenAI in the search game.
Nvidia has a problem in China
Nvidia, the AI industry’s favorite computer chip builder, is facing an investigation in China. The country is accusing the company of violating anti-monopoly laws.
There is growing tension between China and the United States over access to the materials to build semiconductors and other computer components needed to develop AI technology. Both countries recently announced prohibitions on exports of those materials to one another.
How does Nvidia figure into all this? Quartz’s William Gavin explained why the company is facing scrutiny from China.
Five-star hotels aren’t enough anymore
The world’s wealthiest travelers are the ones most able to stay in fancy hotels, but they don’t want to do that anymore. Instead, they want to rent the homes of other rich people.
The travelers could themselves buy posh vacation homes, but they don’t do that. They find the homes that they rent more charming than the ones they could purchase.
What are the other reasons that the wealthiest vacationers among us are skipping hotels? Quartz’s Madeline Fitzgerald explains the change in behavior.
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SURPRISING DISCOVERIES
Economists say the post-George Floyd VC diversity boom is over. They observed a reversion to pre-Floyd norms in funding for Black entrepreneurs two years after his death.
Juan Soto just signed baseball’s biggest deal ever. He’s getting $765 million over 15 years in a new contract with the New York Mets.
Pope Francis swaddled the Baby Jesus in a keffiyeh. The scarf was added to a nativity scene in Vatican City.
There’s a strong signal suggesting TikTok’s days in the U.S. are numbered. Creators are telling followers to look them up on Instagram and YouTube. (paywall)
Some medicines are made from poop. Researchers are creating cancer drugs derived from the microorganisms found in stool samples. (paywall)
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Our best wishes on a safe start to the day. Send any news or comments to talk@qz.com. Today’s Daily Brief was brought to you by Melvin Backman and Audrey McNamara.