The pile refills faster than it empties. Here’s another pass across it, no order implied.

Money first, and it’s a big number: the reported Stripe and Advent bid for PayPal at roughly $53 billion, a deal that would consolidate stablecoin payments in one stroke. Against it, a quieter structural read on why enterprise money is leaving old-school IBM for AI infrastructure — the collapse as a demonstration of where budgets actually go.