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🌏 Donald Trump x Elon Musk?

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🌏 Donald Trump x Elon Musk?

Good morning, Quartz readers!


HERE’S WHAT YOU NEED TO KNOW

Donald Trump is close to collabing with Elon Musk. The presidential candidate wants the tech billionaire to lead a “government efficiency commission.” 

Google is gearing up for another antitrust trial. The first one was about its search dominance, and this one is about its ad tech dominance.

JetBlue actually made out pretty good during the CrowdStrike outage. The carrier raised its revenue guidance because it sopped up its competitors’ stranded passengers.

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Kroger promised to cut prices. Of course, it would have to be allowed to merge with Albertsons first.

Verizon is buying $20 billion in internet fiber. It’s acquiring Frontier Communication to boost its reach.


CHICAGO FED PREZ SAYS ECONOMIC VIBES ARE WHATEVER

Austan Goolsbee says that America is getting tantalizingly close to a so-called “soft landing” where the Federal Reserve has successfully raised interest rates to bring inflation down without destroying the economy.

From his presidential perch at the Federal Reserve Bank of Chicago, Goolsbee says that things are getting to the point that he and his colleagues can focus less on doomer vibes and more on data points that seem to be painting a rosier picture of the country’s fiscal well-being.

Quartz’s Rocio Fabbro chatted with Goolsbee about his outlook on where things go from here and whether the Fed is behind the curve on getting there.

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THAT’S A MIGHTY BIG MATTRESS

Family offices are gaining ground on hedge funds as the favorite safe havens of the wealthiest people’s wealth, says Deloitte.

The consultancy expects the fortunes stowed with the investment vehicles to reach $9 trillion by 2030 — nearly triple the amount from just a few years ago — as the upper-est crust grows tired of sharing its returns with riff-raff who don’t share a bloodline.

Quartz’s Madeline Fitzgerald explains not just what a family office is, but what the concept’s growing popularity means for the future of global finance.


MORE FROM QUARTZ

🦾 OpenAI hit 1 million paid business users for ChatGPT — with possible price increases coming

💰 Mark Cuban says Kamala Harris will definitely not tax unrealized capital gains

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📱New Mexico sued Snapchat for allowing ‘sextortion’ and sexual abuse targeting children

🎄 Half of Americans will start their holiday shopping even before Halloween

💉An Eli Lilly experiment could let insulin-using diabetes patients avoid 313 injections

🏈 These are the 10 wealthiest sports franchise owners in America


SURPRISING DISCOVERIES

A newly found antibody could be a beat-all COVID-19 vaccine. Scientists think they may have found a treatment that can recognize slippery changes in the virus’s spike protein.

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Cats might be hiding how much they like playing fetch. A survey of cat people says 41% of them “sometimes, frequently or always” bring back thrown objects.

Colonial Americans rioted over pine trees. The British Crown’s efforts at conservation were fairly unpopular.

A dye used for Gatorade might turn your skin clear. Scientists tried using yellow-tinting tartrazine on mice first; humans might get their turn, too, one day.

Michael Jordan has been trying to sell his house for 12 years. The basketball star lowered his price from $29 million to $14.855 million in 2015 — 1+4+8+5+5=23, his playing number — and hasn’t budged since.


Did you know we have two premium weekend emails, too? One gives you analysis on the week’s news, and one provides the best reads from Quartz and elsewhere to get your week started right. Become a member or give membership as a gift!

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Our best wishes on a safe start to the day. Send any news, comments, economic vibes, or transparent skin pics to talk@qz.com. Today’s Daily Brief was brought to you by Melvin Backman and Morgan Haefner.

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Video: The Nationwide Battle Over Electoral Maps

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Video: The Nationwide Battle Over Electoral Maps

new video loaded: The Nationwide Battle Over Electoral Maps

What began with Texas drawing what could be five new Republican districts in the House of Representatives at President Trump’s behest has spiraled into a nationwide redistricting race. Nick Corasaniti, a New York Times reporter covering national politics, gives an overview.

By Nick Corasaniti, Alexandra Ostasiewicz, Claire Hogan, June Kim, Christina Thornell and Ashley Wu

November 3, 2025

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Trump’s National Guard deployments aren’t random. They were planned years ago

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Trump’s National Guard deployments aren’t random. They were planned years ago

Members of the National Guard patrol near the U.S. Capitol on Oct. 1 in Washington, D.C.

Al Drago/Getty Images


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President Trump’s deployments of National Guard troops to U.S. cities have outraged his political rivals, tested legal precedents and led to nationwide protests.

The courts are weighing in on their legality. But — if successful — they could also fulfill a long-running administration goal of employing America’s military to aid in the mass deportation of immigrants without legal status, according to an NPR review of past comments from Trump and his allies. It’s a move that would stray significantly from past federal use of the Guard, challenging laws that dictate how the U.S. military can be used domestically. And with the 2026 midterms looming, some experts worry Guard troops could even be used as a tool of systemic voter suppression and intimidation.

Trump has sent troops into four Democratic-led cities and threatened to send them to several more, claiming they are needed to crack down on crime and protect federal immigration facilities and officers. Those deployments, and the White House’s rhetoric around them, have regularly conflated violent crime and illegal immigration into a single crisis, blurring the lines around the role of the Guard and federal agents.

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Taken one at a time, the deployments can seem random or fickle — Trump will often muse about sending troops into a city, only to back track his comments and focus on a different city days later.

But the president and several others in his inner circle — most notably Stephen Miller, a senior aide to Trump in his first term, and now Trump’s right hand man on immigration — have long talked about using the National Guard to help with mass deportations and immigration raids, despite U.S. laws broadly preventing the military from being used for domestic policing. To get around those laws, both Trump and Miller have talked about invoking the Insurrection Act, which allows the president to deploy the military within the U.S. in certain situations.

Legal experts, activists and watchdog groups worry the Trump administration could fundamentally change the way the military is used on U.S. soil, specifically raising concerns about the upcoming 2026 midterm elections and what armed troops on the streets could mean as voters cast ballots.

Laying the groundwork 

Much of Trump’s campaign ahead of the 2024 election was focused on drumming up anti-immigrant sentiment and pushing his plan for mass deportations. He vowed several times on the campaign trail that he would launch the largest deportation operation in American history.

In his first term, Trump and his administration had similar ambitions, but struggled to scale up infrastructure and manpower needed to carry out the goal.

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In a TIME Magazine interview in April of 2024, then-candidate Trump was asked specifically if his plan included the use of the U.S. military.

“I can see myself using the National Guard and, if necessary, I’d have to go a step further. We have to do whatever we have to do to stop the problem we have,” Trump responded.

Using the National Guard for immigration enforcement is an idea that Miller had talked about publicly in the years before.

White House Deputy Chief of Staff for policy and U.S. Homeland Security Advisor Stephen Miller speaks after President Trump signed an order sending National Guard to Memphis, in the Oval Office of the White House in Washington, D.C., on September 15, 2025.

White House Deputy Chief of Staff for policy and U.S. Homeland Security Adviser Stephen Miller speaks after President Trump signed an order sending National Guard to Memphis, in the Oval Office of the White House in Washington, D.C., on September 15, 2025.

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In 2023, Miller appeared on the late right-wing activist Charlie Kirk’s podcast to talk about how mass deportations under Trump’s hopeful second term could work.

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“In terms of personnel, you go to the red state governors, and you say, give us your National Guard. We will deputize them as immigration enforcement officers,” Miller explained. “The Alabama National Guard is going to arrest illegal aliens in Alabama, and the Virginia National Guard in Virginia.”

Miller doesn’t specify how that would be legal — under U.S. law, the military can’t be used for domestic policing unless authorized by the Constitution or Congress. For Democratic-run states that don’t comply, Miller said, the federal government would simply send the National Guard from a nearby Republican-run state.

The deployments 

In recent months, the Trump administration has deployed Guard troops to states against the wishes of their Democratic governors — including sending troops from Texas into Illinois. The administration said their purpose was to protect federal immigration facilities and officers. Those deployments are tied up in court challenges.

Members of the Texas National Guard stand guard at an army reserve training facility on October 07, 2025 in Elwood, Illinois.

Members of the Texas National Guard stand guard at an army reserve training facility on October 07, 2025 in Elwood, Illinois.

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Miles Taylor, former chief of staff in the Department of Homeland Security during Trump’s first term, worked closely with Miller. He’s since become a vocal critic of the president and his policies.

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Taylor says he’s not surprised to see Miller’s plan coming to fruition.

“Trump was deeply deferential to Stephen and I think you’ve seen that with a vastly more empowered Stephen Miller in a second term,” says Taylor, an author and commentator.

Taylor says that during Trump’s first term, the president wasn’t talking publicly about using the U.S. military for immigration enforcement, but it was something that was discussed behind closed doors.

Miles Taylor, former chief of staff at the Department of Homeland Security during President Donald Trump's first term, holds up his phone outside of the Albert V. Bryan United States Courthouse ahead of the arraignment hearing for former FBI director James Comey in Alexandria, Virginia on October 8, 2025.

Miles Taylor, former chief of staff at the Department of Homeland Security during President Trump’s first term, holds up his phone outside of the U.S. courthouse in Alexandria, Va., ahead of the arraignment hearing for former FBI director James Comey on Oct. 8

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“I can remember in meetings with him in the Oval Office, or on Air Force One, or at the border, him starting to bring up this idea of using the United States military to solve the problem,” he says.

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It wasn’t something that Trump just talked about. In 2017, The Associated Press reported on a memo it obtained from DHS, outlining a draft proposal to use the National Guard to round up unauthorized immigrants throughout the U.S. At the time, the White House denied it, saying there was no such plan.

Taylor says there very much was — but it was also more than that.

“It was the invocation of the Insurrection Act to deputize the military to enforce domestic law to basically become a domestic police force,” he says, noting that this particular idea was something that troubled him and several other staffers.

“It rocked us to our core,” he says.

Trump invoking the Insurrection Act would legally allow for the military to act as police on U.S. soil — to carry out immigration enforcement, but possibly other enforcement too, according to legal experts.

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NPR asked the White House about potential plans to deputize the Guard for law enforcement and to use the Insurrection Act, but it did not directly respond to those questions, instead criticizing Taylor and NPR. Spokeswoman Abigail Jackson also referenced Trump’s “highly successful operations to drive down violent crime in American cities.”

Project 2025

The broader themes of these National Guard deployments are also embedded in Project 2025, a conservative action plan written by the Heritage Foundation after Trump’s first term that’s more than 900 pages long.

Trump has incorporated many of its policies, and authors into his second administration. So much so that the report’s architect, Russell Vought, is the head of the White House’s Office of Management and Budget.

Russ Vought, Director of the US Office of Management and Budget (OMB), speaks at the National Conservative Convention in Washington D.C., Sept. 3, 2025. (Photo by Dominic Gwinn / Middle East Images via AFP) (Photo by DOMINIC GWINN/Middle East Images/AFP via Getty Images)

Russell Vought, director of the Office of Management and Budget, in September.

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Matt Dallek, a professor at The George Washington University who studies the American conservative movement, says that Project 2025 essentially opens the door for Trump’s National Guard deployments — particularly to Democratic-led cities — without explicitly calling for them.

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“The subtext of Project 2025 is to take any and all steps at the executive level to go into cities and states to enact the priority — which is to root out illegal immigration,” Dallek says.

The idea of bullying states and cities into following orders from the president is a key part of the text, says David Graham, a journalist for The Atlantic who also wrote a book on the project. So is the use of the military.

“There is this idea in Project 2025, and among the authors, that the military is just an underused resource for policing immigration,” Graham says, noting that often illegal immigration is presented as a national security problem. He says the report’s authors believe that the U.S. has “this huge, huge resource of armed people, and we’re not doing anything with it, and we need to use it to secure the border.”

Beyond mass deportation 

In recent weeks, Trump has talked about invoking the Insurrection Act often, especially in regard to deploying the National Guard. Earlier this month, he said that he was “allowed” to invoke it if the courts deny his deployments in places like Portland, Ore., or Chicago, where prosecutors and federal judges have questioned the need for troops on the ground.

Trump invoking the Insurrection Act to allow troops to help with immigration enforcement is also something that Stephen Miller has talked about.

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He told the New York Times back in 2023: “President Trump will do whatever it takes.”

That possibility has both legal experts and immigration advocates worried, especially about the implications it could have for Americans at large.

Kica Matos, president of the National Immigration Law Center, an immigration rights advocacy group, says it has her worried about the upcoming 2026 midterm elections and what the presence of troops might mean for voters as they cast ballots.

“What I have said repeatedly is that the path to authoritarianism in this country is being built on the backs of immigrants. They will begin with immigrants. They will not end with immigrants,” she says.

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Video: Anger Over Immigration Raids Motivates Some Latino Voters

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Video: Anger Over Immigration Raids Motivates Some Latino Voters

new video loaded: Anger Over Immigration Raids Motivates Some Latino Voters

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Anger Over Immigration Raids Motivates Some Latino Voters

In Bell Gardens, a city in southeast Los Angeles County, early voters said that anger and frustration over months of aggressive immigration enforcement in their neighborhoods had prompted them to participate in this year’s election.

“I think especially with Proposition 50, it’s given Latinos an opportunity to come out and those who can — participate in civic engagement.” “I felt like even if I brought my ballot, it wasn’t even going to be counted in a sense. I just want to make sure that it was in person. A lot of people are afraid to come out, especially here in the park. I mean, it’s usually very crowded. And now, I see it has minimized even half of the people that are usually here.” “What happened over the summer here in Los Angeles, especially what’s going on across the country, I think it’s, in my eyes, has — I don’t know if mobilized is the word, but more people are more engaged.”

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In Bell Gardens, a city in southeast Los Angeles County, early voters said that anger and frustration over months of aggressive immigration enforcement in their neighborhoods had prompted them to participate in this year’s election.

By Mimi Dwyer

November 2, 2025

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