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Rocket City Adventures: Exploring Huntsville, Alabama

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Huntsville, Alabama totally took us by surprise. We knew “Rocket City” had NASA’s largest space flight center and the beloved Space Camp, but we had no idea their music, art, and food scene would also be out of this world. The city has one of the highest concentrations of PhDs in the country, and they are using their wicked smarts in lots of fun ways. Huntsville has transformed a cotton mill into the nation’s largest privately owned art center, an old high school into a brewery and entertainment complex, and built an amphitheater so acoustically perfect and sustainable that it has been named one of Billboard’s best venues in the world!

For all of Huntsville’s growth and innovation in recent years, it haven’t forgotten its roots. As Alabama’s first capital and a city spared during the Civil War, it has some of the state’s oldest and grandest architecture. What originally put Huntsville on the tourist map in the late 1800s was its “Mountains of Health.” Monte Sano State Park’s 2,400 acres of wilderness remain within the city limits in the name of conservation and recreation. Huntsville clearly wants to make sure its guests and residents are well taken care of, and it has paid off, earning the city US News & World Report’s “Best Place to Live.”

We spent five days in Huntsville, and couldn’t believe how much there was to explore in this little city. To help you plan an unforgettable trip, we’ve created this list of the best things to do in Huntsville, Alabama. Buckle up, Rocket City, here you come!

Gush Over Big Spring

Things to do in Huntsville

The best place to start your Huntsville trip is where the town began…Big Spring! In 1805, John Hunt heard tales of a place beyond the Appalachian Mountains with an ever-flowing spring of crystal-clear water. When he saw 20 million gallons pouring out per day, he made it his homestead, and hundreds of settlers quickly followed suit. After 150 years as Huntsville’s drinking source, Big Spring’s pools and canals are now the heart of their central park.

To get a feel for the raw beauty that attracted Hunt to this place, start at the Spring Street entrance to see the water bubbling from the limestone bluff. Meander the canals and take a seat at the expansive pond to admire the reflections of the city’s skyscrapers and Huntsvillians in their happy place.

💡 Huntsville Travel Tip: Come in April for the Southeast’s premier arts festival, Panply, or summer Mondays for Big Spring Park’s weekly concert series.

Constitution Hall, Where Alabama Began!

Alabama's Constitution Hall, Huntsville

This unsuspecting cabinet maker’s workshop is where Alabama’s statehood began with the signing of its constitution in 1819. Today, it’s a lovely museum, surrounded by eight historic buildings, including a law office, print shop, post office, cabinetmaker’s shop, and residence, offering a glimpse into Alabama’s earliest days. The charming outdoor exhibit is free, and the museum offers atmospheric lantern tours around the holidays.

The Secret Art & Mural Tour

Secret Art Trail, Huntsville Alabama

You can’t help but notice the colorful murals all over Huntsville, but to see the finest and learn about the artists behind them, follow the Secret Art Trail in the Quigley Arts & Entertainment District. While murals make up most of the 16 stops, there are also fabulous sculptures hanging off buildings and stained-glass art for the keen-eyed. We loved the vibrant “This Girl Can” by Kim Radford, celebrating women’s right to vote, and “The Catalyst” mural by Robert Bean for its clever selfie opps, like holding a balloon, riding a bike, or flying away on a Poppins-style umbrella. For more info, check out this detailed guide to the Secret Art Trail.

💡 Travel Tip: In any of Huntsville’s five designated Arts & Entertainment Districts, open-container laws loosen up. Bars pour your drink into a magic purple cup, and it can travel with you on your walk until the next watering hole that calls to you.

Wander the Mansions of Twickenham

Twickenham Huntsville historic homes

Huntsville’s oldest neighborhood is a fairytale-meets-textbook of early American architecture. Dating back to 1814, Antebellum mansions (more than 65!), Greek Revival, and Victorian homes are beautifully preserved here. Williams Ave SE is the grandest thoroughfare, and every intersecting street has swoon-worthy houses.

For a chance to go inside a historic home, the Weeden House Museum is a great choice. In addition to admiring its 19th-century stylings, the paintings and poems of lifelong resident Maria Howard Weeden offer a deeper look into Huntsville life, particularly that of African Americans. Guided tours depart at 10:00 a.m., Monday-Friday, with additional tours on Tuesday and Thursday at 1:00 p.m.

💡 Travel Tip: Pull up HuntsvilleHistoryTours.org on your phone to follow the Huntsville History Tour’s audio guide to dive into the history of the city’s most impressive buildings.

Travel Back in Time at Harrison Brothers Hardware

Harrison Brothers Hardware Huntsville

Operating on Huntsville’s historic Courthouse Square since 1897, Harrison Brothers is a handyman’s, antiquarian’s, and art lover’s dream. After the Harrison family stocked its wooden shelves and knobbed drawers for nearly a century, the Historic Huntsville Society happily took over the inventory and froze this place in time. Peek into the creaky cabinets of forgotten wares. Marvel at the rope-pulley freight elevator and go around the six-foot-tall safe until you reach the Harrison Brothers Gallery. It features the works of more than 50 regional artists and local purveyors for your souvenir-shopping pleasure. Use cash, and the clerk will ring you up on the bronze register from 1907.

Frolic in Huntsville Botanical Garden

huntsville botanical garden 1

Explore 118 acres of manicured gardens and native habitat, including a trail of 3,000 azalea bushes, a butterfly house with monarchs fluttering around you, an Aquatic Pavilion to catch the water lilies’ reflections, and a Garden of Hope for cancer patients and their families. And don’t miss the most exciting permanent exhibit…Mama Zelda, a giant troll created by world-renowned recycled artist Thomas Dambo.

We came to the Huntsville Botanical Garden specifically to see this troll, whose hair of twigs and vines forms a whimsical labyrinth to reach her, but quickly realized there was so much more going on at the garden. On the day of our visit, there was the “Global Rhythm & Blooms” concert series, a scarecrow art exhibit, and a medieval fencing tournament. Check their calendar of events for what fun they have in store for your visit!

Play Hooky At Campus 805

Campus 805 Art and Entertainment District Huntsville
@honeytrek What was a high school for 60 years is now every naughty student’s dream. At Campus 805, the gymnasium is a brewery, the English classroom is a tattoo parlor, a row of lockers hides a speakeasy, and the sports fields are now festival grounds, for adults to run wild across their 13-acre schoolyard. Bending the rules a bit further, the Huntsville Arts & Entertainment District lets you walk outside and between bars with your purple open container, without getting detention. As they say at Campus 805, school will never be the same again. #campus805 #visithuntsvilleal #partner #iHeartHSV @Huntsville, AL @Straight to Ale ♬ ACDC style hard rock(1021726) – Canal Records JP

What was a high school for 60 years is now every naughty student’s dream. At Campus 805, the gymnasium has become a brewery, the English classroom a tattoo parlor, a row of lockers perfectly hides a speakeasy, and the sports fields are now festival grounds, for adults to run wild across this 13-acre schoolyard. We loved Straight to Ale’s beer, food, and self-guided brewery tour through the old gym and wandering the halls of lockers looking for cool businesses, like Ronnie Raygun’s vintage pinball arcade and Rocket City Laser. Unlike a normal school, you’re going to want to come on a weekend when all these quirky classrooms are open and everyone is playing hooky.

Be an Astronaut for the Day at the US Space & Rocket Center

visiting the US Space and Rocket Center

No matter if you are super into science or space exploration, this NASA & Smithsonian-Affiliate museum will blow your mind. It’s the official visitor center for the Marshall Space Flight Center—the rocket makers that sent man to the moon and the geniuses literally propelling the future of space exploration. The US Space & Rocket Center also dives into the fascinating history of Huntsville, going from a floundering cotton mill town to a driving force in the Space Race.

It’s where you can see the actual Saturn V rocket that sent Neil & Buzz to the moon, a life-size replica of the Pathfinder Space Shuttle, and countless artifacts and 21st-century prototypes of space travel. This museum is incredibly hands-on, letting you hop aboard an international space station, climb into capsule cockpits, and even drive an FS-VC dual system flight simulator that will have you doing barrel rolls. 

The Intuitive Planetarium is a separate ticket, but so worth it to see the latest findings of the James Webb Space Telescope (the most powerful ever built) and witness the evolution of galaxies, the lifecycle of stars, and a kind of beauty we never knew existed. And if the US Space & Rocket Center really gets your engines firing, sign up for Space Camp! Not just for kids, family, and all-adult sessions are available. Dozens of the grads have become actual astronauts, and everyone we know who’s participated continues to talk about it, even decades later.

Paint the Town Red at Lowe Mill Arts & Entertainment

Lowe Mill Arts and Entertainment

From a cotton mill to a shoe factory to the largest privately-owned art center in the USA, Lowe Mill Arts & Entertainment has got staying power and so much fun on tap. When we saw this series of century-old warehouses, with their gritty bricks and wonky windows, we couldn’t believe what was inside…a labyrinth of 153 working art studios, 4 performance spaces, a meadey, vintage arcade, and many more creative spaces. Not some pretentious museum, Lowe Mill wants everyone to find their inner artist, offering open classes in everything from comic book-making, to cigar box guitar lessons, ceramics, and Celtic dance.

As not-so-good painters, we were a little intimidated to sign up, but with beloved local artist Yuri Ozaki hosting a 1-hour class for a mere $20, we had to give it a go! We learned a ton, had a blast, and actually came away with a painting we’re proud of. To make the night even cooler, we caught Lowe Mill’s Friday night concert series, danced to a five-piece band until closing time, and had a late-night dinner party at Chef Will The Palettes’ plant-based food truck. Watch the video (above) for the magic of Lowe Mill.

Play Disc Golf Like a Pro

disc golf course monte sano state park huntsville al

Disc golf might be a fringe sport in some places, but not Huntsville! The city is home to one of the world’s first courses and just got the bid for the 2027 PDGA Amateur World Championships. There are 11 courses in town; die-hards should head to the OG Tom Monroe Memorial Disc Golf Course or the John Hunt Park to get to the greens before the championship players do.

Or if you’re disc-golf dabblers like us and enjoy a walk in the park just as much, rent a set of discs for $5 at the Outdoor Recreation Center, then head to Monte Sano. This state park is beautiful, and we loved that its course goes through the North Alabama Japanese Garden, with its bamboo forest, tea house, and Haiku Path with inspirational poems along the way.

💡Travel Tip: Have extra energy after your round of disc golf at Monte Sano? Hike the Sinks Trail to Stone Cuts Loop for northern Alabama’s impressive limestone formations. 

Catch a Concert (or any event!) at The Orion

The Orion Amphitheater

How do you create one of Billboard’s Top Music Venues in the World? Pair a Grammy-award-winning rockstar, who understands what artists and fans want, with one of the savviest cities in the American South. With the Mumford & Sons keyboard player and venue guru at the helm, Huntsville’s Orion Amphitheater is where music meets community, sustainability, and a helluva good time.

We came to The Orion to see Blink-182 (one of Mike’s all-time favorite bands!), but quickly realized it was so much more than an 8000-person music venue. The exterior has a big-art park, food trucks, a dive bar, and multiple spaces for community events throughout the week. Inside, you won’t find your average hot dog and Bud Light beer stands, but rather 15 bespoke bars, mixing cocktails with herbs grown on site and pouring all-Alabama brews that benefit environmental nonprofits. Sustainability is at the core of The Orion, with its no-single-use-plastic policy and commitment to send zero waste to landfills. In fact, the week we visited, their reusable cups program celebrated its 1 millionth reuse!

The Blink-182 show was as awesome as expected, but the fun we didn’t see coming was the after-party! The Orion threw in an extra band for free at The Dome, and we danced until midnight on a Monday with hundreds of stoked locals…what a night!

Best Huntsville Bars & Restaurants

best restaurants huntsville al

Domaine South

In front of Big Spring’s waterfall sits one of the best restaurants in town, with a Wine Spectator Award of Excellence to back it up. Love the vibe at Domaine South, with their art-packed walls and ceilings dripping with plants. With a focus on local and seasonal ingredients, the menu changes weekly, and you can always count on their gorgeous charcuterie boards (with multiple vegan cheese options!). Go for happy hour (11-5pm) to enjoy their fine wines and admire the waterfall in the sunshine.

Standard Social Market

Part gourmet bodega and part restaurant, Standard Social Market feels like a hip locals’ joint, and they were plenty accommodating to newcomers. We asked for a Southern meal vegan-style, and they put their delicious black bean burger between a biscuit with a side of fried green tomatoes, and we were in comfort-food heaven!

Revivalist

Once a 19th-century tavern, Revivalist is channeling its old-school vibes in the chicest way. This place pulses with date-night vibes and has prices to match your special occasion, but worth it for the tahini cauliflower steak and French onion orzo. 

Mason Dixon Bakery & Bistro

An entirely gluten-free and largely plant-based menu, this bakery and bistro is great for health and planet-conscious diners. Get Mason Dixon’s vegan cookie-dough chocolate cupcake—it’s divine!

Stovehouse

A former stove factory is now a food-court-meets-adult-playground, just outside of downtown. Centered around a yard of lawn games and sunsails, Stovehouse’s 15 eateries and bars let friends follow their appetites in different directions and come together over giant checkers and cornhole. Kamado Ramen and Pourhouse hit the spot!

Catacomb 435

This speakeasy does it right, with clues to get to the front door, a secret password, and truly custom cocktails in a moody, cool setting. Catacomb 435’s menu is just a series of checkboxes to mark the flavors, spirits, and vibes you’re feeling, and their mixologist makes magic from there.

More Vegan Options

We reached out to @HuntsvilleVegans and this group of local plant-based devotees recommended Vujee Vegan, The Veggie, and Hippea Camper for fantasstic 100% vegan eateries.

Where to Stay

best huntsville alabama hotels

106 Jefferson

The Victorian-era Huntsville Hotel is back as a posh Hilton Curio property. Perfectly situated in the heart of downtown and across from lively Jefferson Alley, the rooms are chic, their rooftop bar is a locals hot spot, and their lobby is connected to one of Huntsville’s finest restaurants (read: your Hilton Honors F&B credit gets you breakfast or cocktails!)

Placemakr

In the booming Mid-City neighborhood and just across from The Orion Amphitheater, this apartment-style hotel is a great alternative to Airbnb with the same homey comforts.

Monte Sano Cabins

Sitting on the bluffs of the state park, just five miles from downtown, Monte Sano has eleven 1930s cabins built by the CCC. Recently renovated with modern kitchens and bathrooms, without losing their stone fireplaces, wide-plank ceilings, and screened-in porches of yesteryear. We’re so glad we added this stint in nature to our city stay!

Getting to Huntsville

Hunstville is the best small airport in the USA

Being in Northern Alabama and the state’s largest city, Huntsville is more connected than you might think. Just a two-hour drive from Nashville, and 3.5 hours from Atlanta, Knoxville, and Memphis, it’s an easy road trip. If you’re flying in, Huntsville has direct flights from New York, Washington DC, Chicago, Miami, Denver, Las Vegas, LA, and more major cities. And making travel to Huntsville extra pleasant, HSV has repeatedly been named “Best Small Airport in the USA” for its efficient service and unexpected delights, like an art gallery, live music, and a brewery. Rental cars are plentiful and the best way to get around Huntsville.

Rocket City Rocks!

things to do in huntsville

Clearly, there are plenty of things to do in Huntsville, but the ingenuity and creative spirit behind them is what impressed us most. We marvel at how Huntsville reinvented itself from a defunct mill town to a beacon of NASA technology. Then, when the glow of the Space Race faded, they focused on art and architecture, reimagining old buildings as creative spaces to bring their community together.

Then, what always makes a place so memorable is the people you meet! From catching up with our old buds, Jen & Ed, who made Huntsville their home, to breaking bread with new friends at Lowe Mills’s painting classes and vegan food truck, we saw Rocket City and Alabama in a new and shining light and know you will too.

P.S. Big Thanks to Visit Huntsville for inviting us to town and supporting our work!

Modular Micro-Camping Kei Van from Toyota – Kayoibako-K Model

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Toyota won minds and melted hearts at the 2023 Japan Mobility Show with a compact concept van and mini-adventurer it called the Kayoibako, going so far as to show what it would look like as a light camper. The modular x-mover was as functional as it was adorable … in a concept van way, at least. Two years later, the Japan Mobility Show is back, and so is the Kayoibako. This time around, Toyota is talking up an entire family of vans, including a newborn baby: the Daihatsu Kayoibako-K, a flexible kei transporter that works as an urban delivery solution, micro-camper, small family hauler, self-driving adventure shuttle and mobile storefront.

The Kayoibako name was derived from Japanese shipping containers that rely upon modular interiors to properly fit and secure different types of cargo. The 2023 show van was developed to demonstrate how that type of swappable interior concept could be adapted to a van, making a single vehicle platform far more versatile by way of interchangeable interiors.

The Daihatsu Kayoibako-K may have stole some of its cute, new debut thunder, but the original Toyota Kayoibako is certain to once again impress the crowds at the Japan Mobility Show

Toyota

Released under Toyota Group’s Daihatsu badge, the Kayoibako-K shrinks the general concept down even more, this time to kei car size. That means the diminutive van measures in at a hair under 340 cm (134 in) long, roughly 59 cm (23 in) shorter than the original 2023 Toyota Kayoibako. Most of Daihatsu’s materials show it as a single-seat mini-delivery van, but the company says it’s capable of housing up to four seats.

A proper kei car, the Daihatsu Kayoibako-K is the smallest in the greater Toyota lineup of Kayoibako-style vans
A proper kei car, the Daihatsu Kayoibako-K is the smallest in the greater Toyota lineup of Kayoibako-style vans

Toyota

Like the original Kayoibako, the Kayoibako-K is aimed first and foremost at businesses and workers, designed to dedicate its voluminous rear cabin to delivering packages, carrying tools of a trade, working as a mobile storefront, or perhaps transporting passengers as an urban ride share vehicle. Also like the original Toyota concept, it’s being served with a heavy side of recreation, and Daihatsu’s multimedia materials show it carrying kayaks to the river, serving as a two-person micro-camper with rooftop tent, and enjoying time at the beach.

Enhancing the K’s ability to efficiently move people through their greater surroundings and operate as an adventure dream machine is its autonomous driving capabilities. While not fully autonomous in all situations, the Kayoibako-K concept is imagined with the ability to navigate itself to the doorstep to meet its driver, return itself to the parking lot or garage, and self-drive a specific route.

The Kayoibako-K's autonomous capabilities are shown as a way that paddlers can self-shuttle without an extra vehicle or driver
The Kayoibako-K’s autonomous capabilities are shown as a way that paddlers can self-shuttle without an extra vehicle or driver

Toyota

That last capability allows the Kayoibako-K to serve as the ultimate adventure companion by dropping off kayakers at the put-in and then driving itself to the takeout to pick them up after they’re done, something for which one would usually rely on a friend and/or separate pre-parked return vehicle. Beyond just kayaking, this could be game-changing for activities like downhill mountain biking and point-to-point hiking.

Jeep showed a similar idea a few years ago when diving into the future of high-tech design.

The Kayoibako-K (right side) is the smallest of the growing concept van family, parked next to the Kayoibako (middle) and HiAce concept
The Kayoibako-K (right side) is the smallest of the growing concept van family, parked next to the Kayoibako (middle) and HiAce concept

Toyota

The Kayoibako-K is the smallest van model in an envisioned five-vehicle Kayoibako transporter fleet that would include models ranging from small to extra large. Toyota imagines the smallest vehicles being offered under the Daihatsu brand, with the larger ones wearing a Toyota badge.

Toyota itself revealed the new HiAce Concept at the large end of the concept van lineup. The van shares its shape and design language with the smaller Kayoibako vans, but its production model-based name suggests that Toyota is exploring the idea of making the Kayoibako lineup a potential replacement for the current generation HiAce vans, bringing new levels of flexibility to its van line.

Shown here with a roof rack, the Toyota HiAce Concept brings Kayoibako styling a step closer to possible reality
Shown here with a roof rack, the Toyota HiAce Concept brings Kayoibako styling a step closer to possible reality

Toyota

So one day in the not-so-distant future, we could be seeing a modular, multi-use Toyota van platform readied to compete with Kia’s steadily developing PBV range.

The video below shows how the Kayoibako-K could fit into an ultramodern vision of work/life balance.

Japan Mobility Show 2025 KAYOIBAKO-K コンセプトムービー ダイハツ公式

Source: Toyota

Ultra-Orthodox Community Demonstrates Against Israel’s Military Draft

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new video loaded: Ultra-Orthodox Community Protests Israel’s Military Draft

transcript

transcript

Ultra-Orthodox Community Protests Israel’s Military Draft

Hundreds of thousands of ultra-Orthodox Jews demonstrated against the military draft in Israel.

You can’t force people to be otherwise than the way they are. This is us. This is the way we are. You can’t change us. You can’t force people to do otherwise. It’s no good.

Hundreds of thousands of ultra-Orthodox Jews demonstrated against the military draft in Israel.

By Jorge Mitssunaga

October 30, 2025

Amazon’s stock soars as cloud growth exceeds expectations

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Amazon shares soar as cloud growth beats expectations

Prince Andrew stripped of titles and evicted from royal home by King Charles III | News

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The rare move comes after mounting pressure to act over Andrew’s relationship with sex offender Jeffrey Epstein.

King Charles III has stripped his brother Prince Andrew of his remaining titles and evicted him from his royal residence after weeks of pressure to act over his relationship with sex offender Jeffrey Epstein.

Buckingham Palace said on Thursday the king “initiated a formal process to remove the Style, Titles and Honours of Prince Andrew”.

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After the king’s rare move, Andrew will be known as Andrew Mountbatten Windsor and not as a prince, and he will move from his Royal Lodge residence into “private accommodation”.

It is almost unprecedented for a British prince or princess to be stripped of that title. It last happened in 1919, when Prince Ernest Augustus, who was a UK royal and also a prince of Hanover, had his British title removed for siding with Germany during World War I.

Demand had been growing on the palace to remove the prince from Royal Lodge after he surrendered his use of the title duke of York earlier this month over new revelations about his friendship with Epstein and renewed sexual abuse allegations by one of Epstein’s victims, Virginia Roberts Giuffre, whose posthumous memoir hit bookstores last week.

But the king went even further to punish him for serious lapses of judgement by removing the title of prince that he had held since birth as a child of a monarch, the late Queen Elizabeth II.

“These censures are deemed necessary, notwithstanding the fact that he continues to deny the allegations against him,” the palace said. “Their Majesties wish to make clear that their thoughts and utmost sympathies have been, and will remain with, the victims and survivors of any and all forms of abuse.”

Giuffre’s brother declared victory for his sister, who died in April at the age of 41.

“Today, an ordinary American girl from an ordinary American family, brought down a British prince with her truth and extraordinary courage,” her brother Skye Roberts said in a statement.

Andrew faced a new round of public opprobrium after emails emerged earlier this month showing he had remained in contact with Epstein longer than he previously admitted.

That news was followed by the publication of, Nobody’s Girl, by Giuffre, who alleged she had sex with Andrew when she was 17. The book detailed three alleged sexual encounters with Andrew, who she said acted as if he believed “having sex with me was his birthright”.

Andrew, 65, has long denied Giuffre’s claims, but stepped down from royal duties after a disastrous November 2019 BBC interview in which he attempted to rebut her allegations.

Andrew paid millions in an out-of-court settlement in 2022 after Giuffre filed a civil suit against him in New York. While he did not admit wrongdoing, he acknowledged Giuffre’s suffering as a victim of sex trafficking.

The move by the king means Andrew will no longer be a prince or be known as “his royal highness”, “duke of York”, “earl of Inverness” or “baron Killyleagh” – all titles he held until now. Also gone are honours that include Order of the Garter and status as knight grand cross of the Royal Victorian Order.

Andrew is expected to move to a property on the king’s Sandringham estate near the northeast coast and receive private financial support from his brother.

Third Quarter Sees Michael Saylor’s Strategy Return to Profitability

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Bitcoin accumulator Strategy Inc. returned to profitability in the third quarter, with results bolstered by an unrealized gain tied to the rising value of the company’s roughly $69 billion cryptocurrency stockpile. 

Net income was $2.8 billion, or $8.42 a share, compared with a loss of $340 million, or $1.72 in the year-ago period, the Tysons Corner, Virginia-based firm said in a statement Thursday. The company, formerly known as MicroStrategy, adopted accounting standards in January that required it to include the fair value of its Bitcoin holdings in its earnings. The change triggered multibillion dollar swings between profits and losses in the the previous two quarters. 

The company said in the statement that it is “actively laying the groundwork for credit securities in international jurisdictions.” Strategy’s shares fluctuated in after-hours trading. 

Even though Bitcoin reached a record high during the third quarter and dozens of public firms copied the treasury company model cofounder and chairman Michael Saylor pioneered five years ago, investors have begun to question the tactic. Shares of Strategy have tumbled around 45% since the stock closed at a record high last November, erasing much of the premium the shares long enjoyed over its Bitcoin holdings for the past few years.

The company was a modest enterprise software firm until 2020, when Saylor jolted Wall Street by shifting money into Bitcoin. The stock ceased trading on earnings potential and began trading on a multiple of its underlying Bitcoin holdings—known as mNAV. After trading at more then two times that multiple at times, the mNAV has shrunk to around 1.3. 

At the center of the concern is the firm’s financing methods. Strategy’s preferred stock—billed as its main vehicle for future Bitcoin purchases—has drawn tepid demand. Recent sales have fallen well short of Saylor’s ambition for blockbuster capital raising, prompting a slowdown in the pace of Bitcoin purchases in recent weeks. 

Following the release of second-quarter results in July, Strategy pledged it won’t issue new common shares at less than 2.5 times its net asset value, except to cover debt interest or preferred dividends. At the same time, Saylor said he would keep tapping the market “opportunistically” when the premium is high, turning equity sales into fresh Bitcoin buys. Despite seeking to reassure shareholders, the firm subsequently sold more common shares. 

Revenue from the company’s legacy enterprise software business rose 11% to $128.7 million, above the $116.8 million average forecast of analysts surveyed by Bloomberg. 

On the new Fortune Crypto Playbook vodcast, Fortune’s senior crypto experts decode the biggest forces shaping crypto today. Watch or listen now

Trump establishes lowest refugee admissions cap in history for upcoming year

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Bernd Debusmann Jrat the White House

Getty Images President Trump holding up papers with images during next to President Ramaphosa. Getty Images

Trump criticised South African President Cyril Ramaphosa in May and claimed white farmers in his nation were being killed and “persecuted”

The Trump administration will limit the number of refugees admitted to the US to 7,500 over the next year, and give priority to white South Africans.

The move, announced in a notice published on Thursday, marks a dramatic cut from the previous limit of 125,000 set by former President Joe Biden and will bring the cap to a record low.

No reason was given for the cut, but the notice said it was “justified by humanitarian concerns or is otherwise in the national interest”.

In January, Trump signed an executive order suspending the US Refugee Admissions Programme, or USRAP, which he said would allow US authorities to prioritise national security and public safety.

The previous lowest refugee admissions cap was set by the first Trump administration in 2020, when it allocated 15,000 spots for fiscal year 2021.

The notice posted to the website of the Federal Register said the 7,500 admissions would “primarily” be allocated to Afrikaner South Africans and “other victims of illegal or unjust discrimination in their respective homelands”.

In February, the US president announced the suspension of critical aid to South Africa and offered to allow members of the Afrikaner community – who are mostly white descendants of early Dutch and French settlers – to settle in the US as refugees.

South Africa’s ambassador to Washington, Ebrahim Rasool, was later expelled after accusing Trump of “mobilising a supremacism” and trying to “project white victimhood as a dog whistle”.

In the Oval Office in May, Trump confronted South Africa’s President Cyril Ramaphosa and claimed white farmers in his nation were being killed and “persecuted”.

The White House also played a video which they said showed burial sites for murdered white farmers. It later emerged that the videos were scenes from a 2020 protest in which the crosses represented farmers killed over multiple years.

The tense meeting came just days after the US granted asylum to 60 Afrikaners.

The South African government has vehemently denied that Afrikaners and other White South Africans are being persecuted.

Watch: ‘Turn the lights down’ – how the Trump-Ramaphosa meeting took an unexpected turn

On his first day in office on 20 January, Trump said the US would suspend USRAP to reflect the US’s lack of “ability to absorb large numbers of migrants, and in particular, refugees, into its communities in a manner that does not compromise the availability of resources for Americans” and “protects their safety and security”.

The US policy of accepting white South Africans has already prompted accusations of unfair treatment from refugee advocacy groups.

Some have argued the US is now effectively shut to other persecuted groups or people facing potential harm in their home country, and even former allies that helped US forces in Afghanistan or the Middle East.

“This decision doesn’t just lower the refugee admissions ceiling,” Global Refuge CEO and president Krish O’Mara Vignarajah said on Thursday. “It lowers our moral standing.”

“At a time of crisis in countries ranging from Afghanistan to Venezuela to Sudan and beyond, concentrating the vast majority of admissions on one group undermines the programme’s purpose as well as its credibility,” she added.

The South African government has yet to respond to the latest announcement.

During the Oval Office meeting, President Ramaphosa said only that he hoped that Trump officials would listen to South Africans about the issue, and later said he believed there is “doubt and disbelief about all this in [Trump’s] head”.

Earlier this year, Ramaphosa signed a controversial law allowing the government to seize privately-owned land without compensation in some circumstances.

While the country does not release race-based crime figured, figures published earlier this year showed that 7,000 people were murdered in South African between October and December 2024.

Of these, 12 were killed in farm attacks and only one of the 12 was a farmer. Five others were farm dwellers and four were employees, who are likely to have been black.

Musicians everywhere win with Universal and Udio settlement

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MBW Views is a series of op-eds from eminent music industry people… with something to say. The following op-ed comes from Ed Newton-Rex.


Udio in its current form will all but cease to exist.

This, I think, is the most important thing to understand about the settlement between Universal Music Group and Udio, which was announced today. Details of the settlement are scarce, but what we do know suggests that it is not only a win for Universal; it is a win for musicians everywhere.

To back up, last August the three major record labels sued Udio, along with Suno, for what they alleged was copyright infringement on an “almost unimaginable scale”. They presented compelling evidence that Udio and Suno had trained their models on their music, and they said they were seeking “an injunction and damages commensurate with the scope of Udio’s massive and ongoing infringement.”

Since then, tech bros have consistently assured us these lawsuits are a waste of time; that AI in the form it was unleashed on the world is inevitable; that we must, in their words, ‘adapt or die’. Just this week, in fact, the Chamber of Progress – a lobbying group representing some of the biggest AI companies in the world (including Suno) – wrote to President Trump asking him to issue an executive order instructing the Department of Justice to intervene in AI copyright lawsuits in favour of AI companies.

Today’s settlement shatters tech bros’ dream that AI companies’ unfettered use of copyrighted work would become business as usual. We now have two settlements in quick succession – the first being the $1.5 billion settlement in Bartz vs. Anthropic – that suggest that rights holders’ decision to bring legal action was a good one.

“This is what so many of us have been saying for so long: training must be paid for. Again, people in AI have shrugged off this idea, saying it’s unrealistic. Well, today’s settlement provides yet more evidence – as if any were needed – that it’s not.”

As part of the settlement with UMG, Billboard reports that the two companies will collaborate on a new product, which will let users customise the music of artists who have opted in, and – crucially – only share that music on the platform itself. Indeed, Udio has announced that downloads from its service have already been suspended – you can no longer download tracks generated on Udio and distribute them on streaming platforms.

This is hugely important. AI music generators that have been trained on real musicians’ music have been used to flood streaming platforms. Deezer recently reported that 28% of daily uploads are now AI-generated. Keeping this AI music within a walled garden will stop it unfairly competing on other platforms, protecting human musicians and making it more likely that people who don’t want to listen to AI music – people like me – don’t find it in our playlists against our will.

And the opt-in from artists is crucial. When Udio launched, they used the language many AI companies use – that they were using ‘publicly available’ music, that what they were doing was ‘transformative’. These arguments underpinned the ‘fair use’ defense they advanced when sued. But, now, artists will opt in to the new platform. And artists and songwriters will be paid not just when their music is the obvious basis of the output, but when their music is trained on in the first place.

This is what so many of us have been saying for so long: training must be paid for. Again, people in AI have shrugged off this idea, saying it’s unrealistic. Well, today’s settlement provides yet more evidence – as if any were needed – that it’s not.

This will be framed in press releases from the companies as a partnership, which of course it is. But be in no doubt: this is a huge win for Universal, and for the music industry as a whole. Udio will license training data; artists’ and songwriters’ permission will be sought; and generated music will be confined to the platform, rather than running rampant on the wider internet.

And it may be just the start. Sony and Warner have announced no such settlements with Udio, and all three majors are still suing Suno. Not to mention the two class action lawsuits from independent musicians that each of these AI music companies face.

In the face of the vast sums of investor money piling into AI and a political class that seems set on deregulating AI irrespective of the human cost, it can be tempting to give up. Today’s news is a beacon of hope – these lawsuits are worth it. Human creativity may yet be protected.

Music Business Worldwide

Center Left Expected to Gain Ground Over Far Right in Dutch Election

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new video loaded: Far Right Projected to Lose Ground to the Center Left in Dutch Election

transcript

transcript

Far Right Projected to Lose Ground to the Center Left in Dutch Election

In a major loss for Geert Wilders’s far-right, his populist Party for Freedom was poised to lose ground to the socially progressive Democrats 66 of Rob Jetten after Wednesday’s Dutch election. Mr. Jetten, 38, could take the first chance to form a new government.

This is a historic election result because we’ve shown not only to the Netherlands, but also to the world that it is possible to beat populist and extreme-right movements.

In a major loss for Geert Wilders’s far-right, his populist Party for Freedom was poised to lose ground to the socially progressive Democrats 66 of Rob Jetten after Wednesday’s Dutch election. Mr. Jetten, 38, could take the first chance to form a new government.

By Nader Ibrahim

October 30, 2025

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