Priya: Ten to one. That was the spending ratio to defeat it.
Theo: I'm Theo.
Priya: And I'm Priya.
Theo: And this is Money Daily for Tuesday, November 10th, 2026.
Priya: Today we're talking big money, big tech, and one very big oops.
Theo: In California, voters just gave a hard no to a new billionaire tax.
Priya: And another AI giant is getting ready for its debut on the stock market.
Theo: Plus, we'll tell you how one of the world's largest hotel chains left a master key to your data just lying around.
Theo: So let's start in California, where a plan to tax the ultra-wealthy has failed.
Priya: That's right. The Associated Press reported Monday that voters rejected Proposition 40. It was a proposed one-time, 5% tax on fortunes over a billion dollars.
Theo: So, not even an ongoing thing, just a one-time wealth tax?
Priya: Exactly. And it still went down in flames. According to TechCrunch, tech leaders and their allies outspent the proposition's backers by about ten to one.
Theo: Ten to one. There it is again. That’s not a debate, that’s a steamroller.
Priya: It's a steamroller, alright. The opposition made the standard argument: that this would drive billionaires, their businesses, and their jobs straight out of the state.
Theo: And I guess that message landed. People are worried about jobs.
Priya: [dry] It landed because it was plastered on every TV and billboard. But here's the catch: TechCrunch also noted that many of the economists cited in the 'No on 40' campaign had financial ties to the very people funding it.
Theo: Wait—so the experts arguing against the tax were paid by the people who would have been taxed?
Priya: Tale as old as time. This wasn't a battle of ideas, it was a battle of checkbooks. And one side's was much, much bigger.
Theo: So what's the takeaway for the rest of us? The non-billionaires?
Priya: Look past the ad and ask who's paying for it. That is always the real story.
Theo: Alright, next up: another AI company is about to make a lot of people very rich. [excited] Let's talk IPOs.
Priya: Right. The Wall Street Journal is reporting that AI darling Anthropic is moving ahead with its Initial Public Offering.
Theo: Anthropic! That's Claude, their AI model, right? The company that's positioned as the 'ethical' AI player.
Priya: That's their brand, yeah. They're even a public-benefit corporation. But going public means one thing above all else: answering to shareholders.
Theo: So the pressure to make money could start to clash with the mission to be 'safe'?
Priya: The pressure is always on. The Journal says Anthropic is expected to set its valuation range this week, and you can bet there will be a 'B' after the number.
Theo: Billions, for sure. So what does this actually mean for people listening? Can they just go buy Anthropic stock?
Priya: Once the IPO happens, yes, it will trade on a public exchange. But—and this is not financial advice—chasing a hot, hyped-up IPO is a notoriously risky game for regular investors.
Theo: Right. The initial pop often fades, and the people who got in early—the venture capitalists—are the ones who really cash in.
Priya: [dry] As is tradition. So, watch the show, but don't feel like you need to buy a ticket. The AI stock rollercoaster is not for the faint of heart.
Theo: And now for a security lapse so bad, it's almost impressive.
Priya: [sighs] This one is a TechCrunch exclusive. Hotel giant Wyndham left a hardcoded credential in its main customer app, basically leaving the door wide open to customer data.
Theo: Wait, a 'hardcoded credential'? What does that mean in plain English?
Priya: It means they wrote the username and password for a sensitive database directly into the app's code. It's the digital equivalent of taping your house key to the front door.
Theo: No... So anyone with the app could have just pulled up customer info? Names, phone numbers, that sort of thing?
Priya: Exactly. And it gets worse. When TechCrunch asked Wyndham if it could see if anyone had wrongfully accessed the data, the company wouldn't say if it could even check.
Theo: They don't KNOW?! That's so much worse! They can't even tell people if their data is in the clear! What the—
Priya: They fixed the leak, but only after a security researcher tipped them off. For an unknown period before that, the door was wide open. And apparently, nobody was even watching the door.
Theo: So what's the move for anyone with the Wyndham app or a rewards account?
Priya: Change your password, immediately. Use a unique one. Enable two-factor authentication if you can. But the real lesson is to be deeply suspicious of any 'loyalty' app. You are often the product, not the customer.
Theo: You give them your data for a ten percent discount, and they might just leave it on the curb for anyone to pick up.
Priya: It's the 2026 bargain.
Theo: Alright, let's do a quick recap.
Priya: California's billionaire tax failed after opponents outspent supporters ten to one.
Theo: AI company Anthropic is getting ready to go public, so brace for another wave of AI stock market hype.
Priya: And Wyndham Hotels left a key to its customer database inside its own app, and it can't—or won't—say if anyone used it.
Theo: Priya, before we go, a quick calendar check. It is National Cappuccino Day.
Priya: [dry] Of course it is. Let me guess, there's a personal finance angle to frothed milk?
Theo: [laughs] There is! The 'cappuccino index.' The rising price of your fancy coffee is a perfect, tangible way to measure inflation in your own life. That seven-dollar cup tells you more than a lot of government reports.
Priya: A seven-dollar coffee. Suddenly that 5% billionaire tax doesn't sound so radical.
Theo: And that's our show. Thanks for listening to Money Daily.
Priya: We'll be back tomorrow. Until then, maybe go check the passwords on your hotel apps.
This show is made with AI: the hosts’ voices are synthetic and the scripts are AI-assisted. Every story links to its original source.