Hey friends - heading into my final week here in SF. It’s been an epic month in Silicon Valley, working with top founders from around the world at Tim Draper’s startup accelerator program. I’ve learned a lot, and we’ve very much accelerated our business, but I do miss New York.

Scoops app users: We have taken the beta app offline for a short period for some major updates. Can’t wait to show you all what we’ve been working on! Reach out if you have any questions.

We’re going to switch up the content in this spotlight for a bit to make sure you all have the info you need to master your week.

🌎 The Big Picture

The market tumbled on Thursday as investors grew nervous about an AI bubble and the Fed not bringing down borrowing costs as quickly. There's been plenty of debate about whether the billions pouring into the AI industry will actually generate enough profit to be worthwhile, and until now, investors have been riding the momentum of a bubble not yet ready to pop. In the face of limited enthusiasm for a year-end rally, the AI anxiety has started to win out, and investors have started dumping tech stocks.

On top of that, the government shutdown's disruption of inflation and job market data has left policymakers flying blind, and there's growing doubt that the Federal Reserve will continue bringing down interest rates as quickly, bringing less stimulus to businesses.

▶️ Things are finally returning to normal for workers and families after the longest government shutdown in history. President Trump signed a funding bill that ends the 43-day shutdown and guarantees back pay for over one million federal employees, along with reversing shutdown-related firings. According to administration officials, workers will start seeing pay restored within days, helping many catch up on bills and everyday spending they paused during the ordeal. Small contractors, federal workers, and businesses tied to government clients may still face budget cuts or delayed projects later this winter. Still, it will take time to dig out from the backlog of work and services delayed or canceled while agencies were closed.

• National parks and museums are reopening, but expect a cleanup process from weeks of skeleton crews and missed maintenance.

• Air travel will remain a headache for several days as flight schedules and staffing recover, but airlines aim for normal operations by Thanksgiving.

• Roughly 42 million Americans relying on food benefits will begin receiving them again, but payment systems in some states may take a week to get back up to speed.

• Economic data may not get back online too soon.

▶️ Workers will be able to save more for retirement in 2026. The Internal Revenue Service announced that next year, individuals will be allowed to contribute up to $24,500 to their workplace retirement plans, such as 401(k)s, 403(b)s, and most 457 plans, a $1,000 increase from this year's limit.

• Those 50 or older can add an extra $8,000, and if you’re between 60 and 63, that goes up to $11,250.

• Contribution limits for Individual Retirement Accounts (IRAs), not sponsored by employers, will increase to $7,500 for everyone, plus $1,100 in catch-up contributions for older savers.

• Higher earners, anyone making over $150,000 in 2025, will now need to make their extra 401(k) contributions to a Roth account, meaning there's no upfront tax break, but future withdrawals are tax-free.

▶️ It's harder than ever to buy your first home. 

• First-time homebuyers made up just 21% of buyers this year, the lowest share on record going back over 40 years, according to the National Association of Realtors.

• The typical first-time buyer is now 40 years old, a huge jump from 33 just a few years ago, and well above the median age of 29 through most of the 80s.

• Much of this is thanks to a combination of record-high home prices and mortgage costs that have doubled since 2021.

• The median existing home price has reached $415,200, up more than 50% from 2019.

This means that many younger families are getting priced out of the most trusted wealth-building strategy in America. Losing a decade of home equity appreciation on a starter home could mean hundreds of thousands less potential wealth created for the average family. With most sellers now holding onto their homes for a record 11 years, fewer less supply makes buying even harder. Those struggling to break into the housing market will need to focus even more on building out other kinds of more accessible investments, like stocks, to create wealth.

Get the full breakdown of all the trends affecting your home, wallet, and career in the new Weekend Scoop on the Scoops app!

🏭 The Companies Everyone’s Talking About

Dig into more scoops and vote on company approval ratings in the Scoops app!

❔ The Big Question of the Week

Challenge your perspectives and learn from the community voting on the Scoops app!