TechCrunch Top 3

California's proposed 'billionaire tax' fails to pass: California voters rejected Proposition 40, the one-time 5% tax on billionaires, the AP reported Monday. Tech leaders outspent backers roughly 10 to 1 to defeat it, and the founders and economists TechCrunch interviewed before the vote were split on whether it would have driven out wealthy residents or just trimmed their fortunes. Read More

Adobe brings AI agents and new creative tools to Photoshop, Premiere, and Firefly: Adobe is taking on Figma with a new prototype builder tool in Firefly. Read More

Ring, known for its doorbell cameras, launches a home security drone and an enterprise security robot: Amazon-owned Ring is pushing into robotics with the launch of a home security drone and a rolling robot designed to patrol and protect businesses. Read More

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Morning Must-Reads

Jensen Huang's alleged honeypot scandal has inspired some top-notch memes: The internet is having a field day with Nvidia's Jensen Huang's alleged honeypot scandal. Read More

Reddit is turning user conversations into AI-powered product reviews: Reddit's new AI-powered reviews summarize what users like and dislike about 10,000 products, helping shoppers research purchases ahead of the holidays. Read More

N-able takes its remote access service offline after researcher publishes dozens of zero-day bugs: The remote access giant also urged its self-hosted customers to take down their own servers amid a "critical security incident," fearing the possibility of cyberattacks. Read More

Google broadens its AI hardware portfolio with two new specialized chips: Google's new tensor processing units (TPUs) broaden its chip portfolio to more use cases: confidential model training and more memory capacity. Read More

Meta's AI agent Muse lands on Apple Watch and Android Wear OS: Users can now interact with Meta’s AI assistant through voice calls, text messages, or dictation on their Apple Watch. Read More

Last but Not Least

Anthropic sets IPO price range of $70 to $78 per share to reach an implied valuation of $1.404 trillion: The company could end up being worth a hefty $1.404 trillion if its shares list at the top of the price range, on a fully diluted basis. Read More