Semafor

Even the world's largest restaurant chain has to rethink how it competes.

In this episode of The CEO Signal, @McDonalds CEO Chris Kempczinski tells @PennyPritzker and @Edgecliffe why changing consumer habits and new competitors are prompting him to push for faster decisions and a greater appetite for risk. But McDonald's success was built on consistency and careful execution, and changing how it operates is no small task.

Kempczinski also faces the challenge of persuading thousands of independent franchisees to invest in his plans. He's clear about the direction, but pragmatic about the details: “We reserve the right to get smarter.”

Nvidia is facing an increasingly hostile Washington, as Democrats prepare to take over regulatory committees and key Republicans look to impose stronger high tech export controls.

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The market’s freakout, driven by AI-related stocks, suggests a US midterm election that spells disaster for the tech industry. @semafor's San Francisco Bureau Chief @ReedAlbergotti says that’s not the full story.

Parag Agrawal (@paraga) tells @semaforben and @maxwelltani about the changes in the internet, with the greatest one being “the scale that the agents will read the web app.”

The US has its first publicly traded pure-play humanoid robotics firm.

Agility, which went public on Thursday through a SPAC merger, is among a group of US humanoid makers that want to automate the world’s factories and compete with China’s fast-growing sector.

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