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Top stories today: - X blocks links to newsletter with allegedly hacked JD Vance dossier
- California passes law to prohibit deceptive sales on digital stores
- OpenAI's funding round to be closed by next week, CFO tells investors
- Longevity investments sum $4.69B in H1, vs. $3.87B for entire 2023
- Hugging Face surpasses 1M AI model listings
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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). |
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 | All times are ET. |
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1. X blocks links to newsletter with allegedly hacked JD Vance dossier, bans journalist |
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Elon Musk called publishing the newsletter with the dossier "one of the most egregious, evil doxxing actions" |
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An error occurs when users searched for or shared links to the Klippenstein newsletter |
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Erstwhile Twitter used to prohibit hacked content on its platform. Hunter Biden's story links were banned under the earlier policy. Interestingly, Elon had criticized Twitter at the time.
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3. California passes law to prohibit deceptive sales on digital stores |
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2025: when the AB 2426 will come into effect. Licensed, not owned: Legislation will require digital stores to clarify media use. Digital books, movies, and video games will be covered under the law. "Buy" or "purchase" terms will be banned unless stores disclose the license. Cases with Ubisoft and Sony pulling purchased content led to the law.
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4. OpenAI's funding round to be closed by next week, CFO reportedly tells investors |
The round reportedly led by Thrive Capital is speculated of $6.5B, valuing OpenAI roughly at $150B: |
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Relatedly, Sam Altman said at an all-hands meeting he's not receiving "giant equity stake" in OpenAI |
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5. Longevity investments sum $4.69B in H1, vs. $3.87B for entire 2023 |
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6. Hugging Face surpasses 1M AI models, with new AI repository created every 10 seconds |
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Hugging Face also has AI dataset and space listings, which aren't seeing as significant growth as AI models |
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7. AI startups making money faster than equivalent highest grossing SaaS companies |
5x faster: the top 100 AI startups reached $30M in annual revenue in 20 months vs. past SaaS companies, per the data released by Stripe: |
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Top AI companies have been global since inception, with 56% of their revenues coming from overseas |
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8. Llama 3.2 90B, 10B text capabilities remain same as Llama 3.1 70B, 9B |
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9. Smart rings, glasses set to outpace other wearables by 2028 |
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6.1% growth forecasted in worldwide wearable device shipments in 2024. 537.9M wearables to be shipped this year. Earwear and smartwatches are likely to see a slowdown. Rings and smart glasses are expected to grow as more brands join the race.
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10. China's PC shipments -6%, while tablets +20% in Q2 |
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9.1M PCs shipped in China in Q2, vs. 7.8M tablets. 2024 forecast: -4% for PC shipments in China, +9% for tablets. 2025: +12% for PCs, +1% for tablets.
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AI PC penetration in China is expected to grow from 13% in 2024 to 62% in 2027 |
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11. Interesting videos, posts, and memes |
 | Meta Connect, the Hardware Renaissance (or Not?) and Special Guest Dan Feder |
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 | Thomas Laffont | All-In Summit 2024 |
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 | a16z's Anish Acharya on Consumer AI |
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 | Reddit ft. Steve Huffman - The Making (and Remaking) of the Front Page of the Internet |
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 | The Race to Harness Quantum Computing's Mind-Bending Power | The Future With Hannah Fry |
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12. Other headlines |
AI |
Accenture announces $4B share buyback as AI business grows 8x to $900M. Runway earmarks $5M to fund up to 100 films using AI-generated video. Samsung unveils Galaxy Tab S10 Ultra, S10+ with "AI enhancements."
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Tech |
Trump Media co-founders sell ~$88M in shares after lockup expires. 2025 Vision Pro to get M5 chip, Apple Intelligence. Intel, U.S. government to finalize $8.5B funding by year-end: sources. Amazon exceeds $1.8B in ad-spending for video-streaming offerings. ARM is rejected by Intel after approaching to buy product unit. Dell asks global sales team to work five days a week in office. Starlink close to 4M customers. The Tor Project merges with Linux-based portable OS Tails.
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| *Sponsored. Clicking on ad links may share your email with Mercury for remarketing purposes. |
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Tech & law |
Elon's X asks Brazil's top court to lift ban, complies with blocking 9 accounts. FCC levies $6M fine to robocaller for using AI to mimic Biden's voice. DOJ reportedly probes server maker Super Micro.
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Biotech |
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Business |
China launches late stimulus push to meet 2024 growth target. U.S. Q2 GDP: 3rd estimate unchanged at +3.0%. Citi, Apollo partner for $25B private credit program.
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Crypto |
CZ could be released from prison today. Tornado Cash case judge denies motions to dismiss. Robinhood, Revolut explore joining $170B stablecoin market. Russia-linked network evading sanctions with crypto disrupted by global effort. BNY approved by SEC for crypto custody beyond ETFs.
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U.S. politics |
Harris pledges support for Ukraine, takes jab at Trump. Trump to meet Zelensky today after criticizing Ukrainian leader. Biden unveils exec. order to combat 3D guns, improve school shooter drills. Newsmax, Smartmatic settle defamation suit before trial. Mayor Adams says he won't resign following indictment unseal.
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World |
Ukraine does not get U.S. permission to fire missiles deeper into Russia. Russia likely to retaliate with force if U.S. grants permission: agencies. Israel rejects U.S.-backed Lebanon ceasefire plan, hits Beirut again. Yemen missile from Houthis intercepted by IDF. Japan to get veteran lawmaker Ishiba as new PM. Hong Kong government sentencing simple protestors to prison.
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