OpenAI Lays With Dogs, Gets Up With Fleas; Seoul Sapping Selloff; and AI and the Rise of ‘HouseFishing’

OpenAI stepping into a Pentagon contract that Anthropic refused has ignited a fierce backlash app uninstalls spiked, staff defections followed, and users flocked to rival Claude as the debate over AI and the military turned into a consumer revolt. In markets, Seoul suffered a historic rout as the Iran war shock sent the Kospi tumbling and the won to multi-year lows, proving geopolitical risk can wipe half a trillion in days. Back home, would-be buyers are getting duped by “house-fishing” listings that look great online but hide messy realities in person, while Robinhood is chasing affluent users with a $695-a-year Platinum card a reminder that finance keeps moving even as trust frays. All this and more in today’s Read It and Eat!

Markets Around The World

Markets as of 3rd March 2026. Cells in RED mean that the value is down, cells in Green mean the value is up.

MAJOR HEADLINES

• OpenAI’s Bottom Barrel Deal Sparks Backlash and Uninstalls 

The controversy began when AI startup Anthropic reportedly rejected a proposed contract with the United States Department of Defense due to ethical concerns about deploying advanced artificial intelligence in military operations. According to reporting from CNN, the deal would have involved developing AI systems for defense and battlefield analysis. After Anthropic declined the contract, OpenAI moved quickly to secure the agreement, effectively accepting the proposal in full and stepping into the role Anthropic refused.

The decision sparked a wave of backlash inside and outside the company. Reports suggest uninstallations of the ChatGPT app surged by nearly 300%, reflecting public frustration over AI’s growing ties to military institutions. Internally, tensions escalated as some staff expressed anger about the company’s willingness to work with the Pentagon. The fallout also included the departure of at least one employee who joined Anthropic, while Anthropic’s AI assistant app Claude climbed to the No. 1 spot on the Apple App Store, highlighting shifting public sentiment.

Sam Altman, CEO of OpenAI, has responded cautiously to the criticism. While acknowledging employee concerns and the ethical complexity of defense applications, he has not reversed the agreement. Instead, Altman has emphasized safeguards and responsible deployment of AI systems. The episode has reignited a broader debate over whether powerful AI tools should be used in military contexts at all, and where companies should draw the line between national security cooperation and ethical responsibility.  CNN

• Seoul Sapping Selloff; KOSPI Falls 12% in One Day

South Korean markets suffered a historic collapse as escalating tensions in the Middle East rattled global investors. The benchmark KOSPI Composite Index plunged roughly 12% in a single day, marking the largest drop in its 46-year history. The selloff erased hundreds of billions of dollars in market value and triggered widespread panic among investors worried about the economic fallout from expanding conflict involving Iran.

The turmoil was triggered after coordinated strikes by Israel and the United States targeted sites in Iran, prompting retaliatory attacks around the Gulf region. The widening conflict raised fears that global energy supplies and shipping routes could be disrupted. As geopolitical risk surged, the South Korean won plunged to its lowest level in 17 years, amplifying concerns about inflation and financial stability in Asia’s fourth-largest economy.

The market turmoil highlights South Korea’s vulnerability to global shocks due to its heavy reliance on exports and imported energy. Investors worry that a prolonged regional conflict could damage global trade flows and industrial production, particularly in sectors like electronics and automotive manufacturing. Analysts say the situation may force policymakers in South Korea to intervene in currency markets or introduce emergency economic support if instability persists. Reuters

• Have You ever been Catfished by a House? The Rise of HouseFishing

A new real-estate trend known as “housefishing” is worrying prospective homebuyers. The term refers to listings that present highly edited or staged photos online that look dramatically better than the property in real life. When buyers arrive for viewings, they often discover homes that look far worse than the images suggested, creating frustration and mistrust in the housing market.

One example reported by Business Insider involved a buyer named Rodriguez who visited a home expecting bright, modern interiors similar to the listing photos. Instead, she found cluttered rooms, worn walls, dirty floors, and even a cat perched among the mess. The stark difference between the online listing and the actual property left her shocked, highlighting how misleading photography can distort buyer expectations.

Experts say the rise of housefishing reflects the intense competition in many housing markets and the growing role of digital platforms in real estate. Sellers increasingly rely on editing tools, staging techniques, and wide-angle photography to attract attention online. While these practices are not always illegal, critics argue they can mislead buyers and erode trust in property listings, prompting calls for clearer disclosure rules and more realistic marketing.  Business insider

• Robinhood Targets Wealthy Customers

Online brokerage Robinhood is expanding its push into consumer finance with the launch of a premium Platinum credit card designed for high-income customers. The company says the card will cost $695 per year and aims to compete directly with premium offerings from financial giants such as American Express and JPMorgan Chase.

Robinhood says the card will provide up to $3,000 in annual value through cashback rewards, travel benefits, and other perks tailored to affluent users. The move reflects the company’s broader strategy to evolve from a trading platform popular with retail investors into a full-service financial ecosystem that includes banking, credit, and wealth-management products.

The expansion also signals intensifying competition in the lucrative premium credit-card market. By targeting wealthier customers, Robinhood hopes to boost revenue through subscription fees and deeper engagement with its most profitable users. Analysts say the strategy could help the company diversify its income streams beyond trading activity, though it will face strong competition from established card issuers with long-standing loyalty programs. Reuters

Minor Headlines

•  Paramount’s $110 Billion Warner Bros. Deal Backed by Arab Sovereign Funds Raises Soft Power Concerns Variety

• Amazon cuts jobs in strategically important robotics division Business Insider

• Jefferies faces scrutiny over lending to collapsed MFS and First Brands Reuters

• Mark Zuckerberg’s $170 Million Mansion Buy Breaks Miami Price Records Wall Street Journal

• Goldman CEO says markets may take a 'couple of weeks' to digest Iran war impact Reuters

• BofA bullish on Tesla, calls it the 'current leader' in autonomy and soon robotaxis Yahoo Finance 

• Goldman Sachs AM Says Non-Payment in Private Credit Remains Low Bloomberg

• Jefferies faces scrutiny over lending to collapsed MFS and First Brands Reuters