July 29, 2024 | Read Online

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0. Data and calendar

All values as of 1 AM ET / 10 PM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).

All times are ET.

1. Trump speaks at Bitcoin 2024, promises strong pro-crypto platform

YouTube video by The Times and The Sunday Times

LIVE: Donald Trump speaks at Bitcoin 2024 in Tennessee

Trump vowed to:

Fire SEC Chair Gary Gensler (which got strong applause, prompting Trump to say it again).
End the regulatory hostility.
Never sell any of the BTC the federal government has (~$14B).

Bitcoin's price little changed during and after the speech.

Kamala Harris, meanwhile, is trying to repair the Democratic ties with the crypto sector.

Trump's odds has inched down to 60% over the past week, with Harris at 38%, as post-Harris polls show Trump only 1 p.p. ahead

Polymarket.

5 polls (+1 avg.) since Biden dropped out: WSJ (-1), NYT/Siena (-1), Rasmussen (+7), Forbes (0), and NPR/PBS (0).

2. Top 10 podcasts reach 35% of weekly listeners

WSJ.

100M Americans age 12 and older listen to podcasts weekly.

Podcasting ad revenue is expected to +12% to $2.2B in 2024, $2.6B in 2026

WSJ.

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4. Texas startup funding slowing, at $3B YTD, with 46% in Austin area

Crunchbase.

TX: $3.0B YTD (5.3B annualized), vs. $6.35B in 2023 and $11.51B in 2021.
Austin: $1.38B YTD (2.44B annualized), vs. $3.34B in 2023 and $5.99B in 2021.

5. Interesting videos, posts, and memes

Mag 7 sell-off, Wiz rejects Google, UBI, Kamala in, China's nuclear buildout, Sacks responds to PG

#57: Zuckerberg's Open Source AI Manifesto

6. Other headlines

AI

Apple Intelligence may be delayed to Oct., after iPhone 16 launch in Sep.

Athyna: hire incredible global talent with up to 80% savings vs. U.S. hires.*

*Sponsored.

Tech

Apple reaches 1st ever union contract in U.S., in Maryland.
Microsoft releases technical dive into CrowdStrike outage.
WeRide files for U.S. IPO: raise, valuation TBD.
Quantinuum weighs IPO at $10B valuation.

Open Source CEO: learn how to be a leader and outperform the competition, with this free newsletter.*
Sidebar is a personal board of advisors for the next generation of leaders.*
Mercury now allows you to pay your bills faster and more accurately.*

*Sponsored. Clicking on ad links may share your email with Mercury for remarketing purposes.

Tech & law

TikTok's First Amendment case sees response by DOJ.
X again questioned by EU, now over AI training data defaults.

Biotech

Alzheimer's blood test catches 90% of early cases: study.
FDA warns about dosing errors with compounded semaglutide.

Business

Sep. rate cut "very possible": Fed whisperer Nick Timiraos.
Leon Marchand breaks Phelps's 400m medley Olympic record.

Crypto

Sen. Lummis proposes U.S. buy 1M BTC.
WazirX seeks to "socialize" $230M hack among all customers.

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U.S. politics

Trump gunman noticed by police 90 minutes before shooting.
Harris VP likely picks: Mark Kelly, Josh Shapiro, Tim Walz.
Harris raises $200M in 1st week of campaign.

World

Maduro declared reelected amid opposition reports of fraud.
Israel hits Hezbollah back after 12 children dead in Golan attack.

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