September 17, 2024 | Listen Online | Read Online

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0. Data and calendar

All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).

All times are ET.

1. TikTok's challenge to U.S. ban faces skepticism in federal appeals court

A 3-judge panel heard 2 hours of arguments in the TikTok lawsuit.
"Why is this any different, from a constitutional point of view, than the statute precluding foreign ownership of a broadcasting license?" Judge Douglas Ginsburg asked.
National security concerns were raised by the Justice Department lawyer.
The law violates free speech, TikTok's lawyer argued.
Jan. 19: when the TikTok ban could take place under the divest-or-ban law.

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3. iOS 18 released with significant home screen update

Apple.

Resizing of app icons and changing their colors is now on the iPhone.
RCS messaging enables sending high-res photos and videos to Android users.
A new Password app with the ability to share Wi-Fi passwords via QR codes.

The Photos app is redesigned with collections such as Recent Days and Trips

Apple.

iPhone Xs and later are eligible to get iOS 18.

Relatedly, iPadOS 18 has been released with a calculator app and Math Notes

Apple.

macOS 15 Sequoia brings iPhone mirroring support

Apple.

The new software updates don't include Apple Intelligence, which will debut in beta next month.

4. Sam Altman leaves OpenAI board's safety and security committee

Independent board members now make up the entire committee.
Altman was earlier criticized for being part of the committee, given he is also the company's CEO.
Zico Kolter will chair the safety and security committee.
OpenAI's o1 model was recently reviewed by the committee.

5. Trump officially unveils his crypto business World Liberty Financial ahead of U.S. election

X: EasyEatsBodega (Donald Trump being interviewed by crypto investor Farokh Sarmad).

"Crypto is one of those things we have to do," Trump said.
Trump's 2 oldest sons and 2 little-known crypto entrepreneurs are part of the venture.
WLFI token will accompany the Ethereum-based DeFi lending project.
Up to 63% of WLFI will be sold to the public.

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7. Microsoft launches Copilot Pages for "multiplayer AI collaboration"

The Verge, Microsoft.

Copilot Pages allows businesses to work collaboratively with AI using a link.
Today: roll out begins for Microsoft 365 Copilot users.
A new BizChat work hub can also work with Copilot Pages.

Relatedly, Microsoft Office apps are getting additional Copilot AI features

The Verge, Microsoft.

Outlook emails can be prioritized by Copilot.
Copilot in Excel now leverages Python to do advanced data analysis.
PowerPoint has an improved narrative builder to let you quickly create a slide's first draft.

8. Microsoft announces $60B stock buyback program, raises quarterly dividend 10%

Microsoft stock +2% in pre-market trading:

MarketWatch: Microsoft stock.

Nov. 21: when the $0.83/share dividend will be distributed to Microsoft shareholders.
The share repurchase agreement replaced the existing $60B buyback program.
Microsoft had $75.5B in cash and equivalents as of Jun. 30, per Bloomberg.

9. Intel to make foundry business independent, partners with Amazon on custom AI chip

Intel stock +7% in pre-market trading:

MarketWatch: Intel stock.

The foundry business will "evaluate independent sources of funding," Intel CEO said.
Intel will produce an "AI fabric chip" for AWS using Intel's 18A process.
Intel stays committed to U.S. expansion but delays plants in Germany and Poland.
Relatedly, Intel was awarded $3B under the CHIPS Act to expand "trusted manufacturing" for the U.S. military.

10. 39% of all M&A deals in 2024 involve startups buying U.S. startups, the highest in a decade

Crunchbase.

252 deals involved startups buying other startups in the U.S. in 2024.
2015–2020: Startup-to-startup deals stayed <30% of all U.S. M&As for startups.
In 2023, 35% of all M&As in the U.S. were startup-to-startup deals.
AlphaSense-Tegus deal ($930M), LetsGetChecked-Truepill ($525M) among the notable deals this year.

11. VC environment getting more startup-friendly, but still distant from 2021-2022 period

Pitchbook.

12. Interesting videos, posts, and memes

OpenAI's new models, the MrBeast leak, Waymo ♥'s Uber and more! | E2009

How to build a million dollar sales funnel using Facebook Ads

YouTube video by The Wall Street Journal

iOS 18: 18 New Features for Apple's New iPhone Software Update | WSJ

13. Other headlines

AI

Runway launches API for video-generating AI model Gen-3 Alpha Turbo.
Perplexity brings "reasoning" focus in beta backed by OpenAI's o1 model.

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

Amazon ends work from home beginning in Jan. 2025, as CEO vows leaner teams.
U.S., Japan near deal to curb chip tech exports to China.
EssilorLuxottica extends smart glasses partnership with Meta.
Apple Watch sleep apnea detection gets FDA approval.

Sidebar is a personal board of advisors for the next generation of leaders. Join now! *
Pipedrive helps you drive more deals from day one.*
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*Sponsored. Clicking on ad links may share your email with Mercury for remarketing purposes.

Tech & law

Meta bans RT worldwide after U.S. accused Russian outlet of disinformation.
Zynga found to have infringed on two IBM patents, ordered to pay $45M.
France used tough, untested cybercrime law LOPMI to target Telegram's Durov.

Biotech

Neuralink rival Synchron connects brain-computer interface with consumer tech.
Bayer, others defeat farmers' chemical price-fixing lawsuit.
Exact Sciences demonstrates early colorectal cancer blood test data.

Business

BYD takes complete control of Mercedes-Benz venture in China.

Crypto

CZ set to be released from prison on Sep. 29.
MicroStrategy plans another $700M in convertible note issuance.
BIS' tokenization for cross-border payments joined by over 40 firms.
BitGo launches token management service for crypto foundations.

U.S. politics

Trump assassination attempt suspect may have lain in wait for 12 hours.
Repeated warnings about suspected gunman were given to U.S. authorities.
Nationwide IVF bill to be voted again by Senate.
Tax policies of Harris, Trump: visual analysis.
RFK to remain on Wisconsin ballot, judge rules.

World

U.S. approves possible military sale to Taiwan of spare parts for ~$228M.
Russian national arrested in U.S. for illegal drone tech exports: DOJ.
Putin issues decree expanding Russian military by 180K soldiers to 1.5M.
Israel cautioned by U.S. against war with Lebanon.
Blinken heads back to the Middle East to refine Israel-Hamas proposal.
UK PM Starmer says first budget won't undermine growth goal.

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