Happy Tuesday, I'm Teddy Schleifer.

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In today’s email: Nancy Pelosi’s daughter, Laurene Powell Jobs’ son, a couple of Ellisons, and the trillionaire future of Silicon Valley’s next-generation dynasties. Plus an interview with British journalist Sebastian Mallaby about his new book The Power Law and the golden age of venture capital.

But first, a few Tuesday appetizers before the main course…

• If you missed last week’s column about Sam Bankman-Fried, I regret to inform you that it’s already outdated, given the break-neck pace of giving by the hottest donor in Democratic politics. S.B.F.’s primary political focus these days centers is pandemic preparedness, as I reported, but the FTX C.E.O. also just dropped $2 million into GMI PAC, a super PAC backing pro-crypto candidates that is representative of the industry’s new muscle in D.C.

• Netflix’s Reed Hastings popped up yesterday in Jackson, Mississippi to give a speech announcing a $10 million check for Tougalou College, an H.B.C.U. that has an exchange program and partnership with Brown. Hastings and his wife, Patty Quillin, have been on an admirable crusade over the last few years to beef up the endowments of historically Black colleges; with such small corpuses, it’s hard for these schools to generate sufficient returns to underwrite their yearly budgets. Kudos to Hastings for actually visiting himself over the holiday and not sending a lackey.

Steve Jobs’ Heir Imagines His Post-Pelosi Future

Reed Jobs, the well-liked millennial son of Laurene Powell Jobs and the late Steve Jobs, has privately talked about a political run, including for Nancy Pelosi’s seat if it opens. It may herald the dawn of a new era: Society is currently being remade by a group of super-billionaires. Pretty soon, their kids will take over.

Earlier this month, I described the early political jockeying to succeed Rep. Nancy Pelosi, who is widely expected to step down sometime next year if Republicans retake the House. Inside her hometown of San Francisco, the race is viewed as essentially a two-person contest between moderate Scott Weiner, the city’s state senator, and more-progressive Christine Pelosi, a longtime Democratic organizer and middle daughter of the city’s royal family.

More recently, however, another dynastic name has come up in those conversations, and it is one that deeply intrigues me for symbolic reasons: Reed Jobs, the eldest son of Laurene Powell Jobs and, of course, the late Steve Jobs...

FOUR STORIES WE'RE TALKING ABOUT